Escrow & Title
In Connecticut, a 'purchase money mortgage' is a mortgage where:
AThe seller takes back a mortgage from the buyer as part of the purchase✓ Correct
BThe buyer purchases mortgage points at closing
CThe lender buys down the buyer's interest rate
DThe buyer pays cash at closing
Explanation
A purchase money mortgage is given by the buyer to the seller (or lender) as part of the purchase price. When the seller takes back the mortgage, it is called seller financing or owner financing.
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