Finance
A Montana agricultural land buyer is purchasing 320 acres with seller financing. This arrangement is commonly called a:
APurchase money mortgage or contract for deed✓ Correct
BConventional loan with PMI
CFHA-insured rural loan
DVA guaranteed rural loan
Explanation
When the seller provides financing directly to the buyer, it is called a purchase money mortgage (or contract for deed/land contract). The seller acts as the lender and holds a lien or title as security.
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