Finance
In Arizona, a 'purchase money mortgage' is one that:
AIs used to purchase construction materials
BIs given to the seller as part of the purchase price when the seller provides financing✓ Correct
CIs a government-backed mortgage for first-time buyers
DIs a mortgage on a property purchased at auction
Explanation
A purchase money mortgage is a mortgage given to the seller (or a third party) as part of the purchase price. When the seller provides financing, the seller holds a purchase money mortgage (seller carryback).
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