Finance
In Ohio, a 'purchase money mortgage' given by the buyer to a third-party lender (not the seller) is:
AA form of seller financing
BA loan used to acquire the property — the buyer gives the lender a mortgage as security for the purchase loan✓ Correct
CA second mortgage taken after purchase
DA government-backed loan for new construction
Explanation
A purchase money mortgage (PMM) from a third-party lender is the standard mortgage a buyer obtains from a bank or lender to finance the purchase. The property is the security for the loan used to acquire it.
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