Finance
A purchase money mortgage is a mortgage where:
AThe buyer uses only their own funds to purchase
BThe seller provides financing to the buyer as part of the purchase✓ Correct
CThe lender pays the purchase price directly to the builder
DThe mortgage is insured by FHA
Explanation
A purchase money mortgage (PMM) is seller financing — the seller acts as the lender, extending credit to the buyer as part of the transaction.
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