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Old 08-16-2017, 01:31 AM
emortgageconnect emortgageconnect is offline
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Join Date: Aug 2017
Location: USA
Posts: 18
Default Re: Guidance For Online Mortgage Prequalification

A “purchase money mortgage” is a home loan used to purchase a piece of property, whether it be a principal residence, a second home, or an investment property.

If you’re looking to buy a home, you’ll generally need to apply for a purchase money mortgage to obtain financing, unless of course, you plan to pay with cash.

Most of us aren’t lucky enough to have the necessary amount of funds on hand to buy a home outright, so we must turn to a bank or mortgage broker for financing.
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