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Mortgage Professor about purchase money: 
Why Must Gifts Be Documented?
May 7, 2001 "We don't think we will have the 20% down payment necessary to avoid mortgage insurance, but we can get money from various family members. Are there any restrictions on getting cash from family members?" ... more...

Tutorial on Selecting Mortgage Features
Planning to shop for a mortgage on-line? You need to answer the following questions first, so you know exactly what you are shopping for.      1. What Type of Mortgage Should I Select? 2. Which Mortgage Options Should I Select? 3. How Long a Term Should I Take? 4. ... more...

purchase money related definitions

Down Payment
Down Payment Money paid to make up the difference between the purchase price and the mortgage amount. Example : John buys a house for $100,000 and obtains a loan for $80,000. His downpayment is $20,000. Closing Costs Locating Downpayment ... more...

Earnest Money
Earnest Money Money given by a buyer to a seller as part of the purchase price to bind a transaction or assure payment. This deposit made by a buyer of real estate towards the down paymen is typically held by the real estate brokers or the escrow company. ... more...

More about purchase money

Get Free purchase money Quotes and Estimates

Get instant on-line mortgage rate quote and closing cost estimate. Only put your loan numbers. No contact info required. Compare offers from top mortgage lenders... more...

No Money Down Real Estate Investing
If you really want to make a wealth of money in real estate you must learn to leverage a small amount of your resources to control a lot of property. One of the techniques I like to use is Subject To financing.Although some states are attempting to pass legislation to regulate or ban this practice, ... more...

How to Make a Purchase Offer on a Home for Sale by Owner
Many home buyers want to purchase a home directly from the seller to cut out the middle man, but when it comes time to make a formal offer it is often the case that neither buyer or seller knows what to do. Without the aid of a professional real estate agent, making an offer to buy a home that is ... more...

Mortgage Loan Options Going Exotic
In the past, a person had limited options when borrowing money for a home purchase. These days, there are exotic mortgage loan options that satisfy just about every borrowing need.Creative MortgagesGetting a loan for a home purchase can be very stressful. What if you dont qualify? How humiliated ... more...

Mortgage Leads Are Like a Box of Chocolates
Mortgage leads are like a box of chocolates, you never know what youre going to get. That is why it is so important to do your research before you invest.When shopping around for a lead company, you want to ask yourself six easy questions about the leads you are going to invest in.WHO, WHAT, WHERE, ... more...

No Money! Does It Really Matter? (Free E-Books)
You can use the sellers existing financing for part of the purchase price. Buying "subject to" you only have to fund the money for the sellers equity! You can get a cash buyer and do a simultaneous close or flip your deal to the buyer for a cash assignment fee. You can sell your contract to another ... more...

Hard Money Lenders -- "No Money Down" The Easy Way
Would it help you as a real estate investor to be able to "Close For Cash in Days," even if you're tapped out financially?Hard money lenders are perhaps the best way to get 100% financing with easy qualifying, money for fix- up, and fast closings.So what can hard money lenders do for you? Hard ... more...

Real Estate Investment - One Simple Formula
I saw the ads in our small-town newspaper for years before I realized exactly what was going on. They were always the same: A house for sale with 5% down and payments of 1% of the purchase price. It might be a three bedroom home for $90,000, for example, with $4,500 down and $900 per month payments ... more...

Getting the Right Credit Card Offer Type Online
There are many credit card offers online, and sorting through each one can be difficult. We have identified and detailed several types of credit offers to help you find the right credit card deal.Low Interest Rate Having a low interest rate means you can use your credit card for large purchases and ... more...

Mortgage Information
A mortgage is borrowing money using property as a security, a type of secured loan in other words. Primarily, the purpose in borrowing the money is to purchase a property.A mortgage is really another word for a property loan - a loan that allows you to borrow a large amount of money in order to buy ... more...

Closing Costs When Buying A Home
Closing costs are often the last thing a person thinks of when buying a home. While closing is the joyous moment the home becomes yours, the costs can be surprisingly aggravating.When you purchase a home, condo or other property, you will go through a period known as escrow. During escrow, various ... more...

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