Finance
In Louisiana, a 'purchase money mortgage' is a mortgage given by the buyer to the seller as:
AA traditional bank loan
BPart of the purchase price in seller financing✓ Correct
CA government-backed loan program
DA loan from a credit union
Explanation
A purchase money mortgage is a form of seller financing in which the buyer gives the seller a mortgage (and note) for all or part of the purchase price instead of (or in addition to) obtaining a bank loan.
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