Many lenders call all of their purchase loans purchase money loan, but in terms of seller financing, not often.

What Kenneth J. Jones said... why are you asking these questions without fully understanding what you are asking and why? If you really want to know answers why don't you do some research (especially with lenders on mortgage issues) and write a post about what you learned. You'll learn a whole lot more that way than doing this.

musing over the responses.

You have not taken the Utah license exam yet?  It was sometime ago you started it.

Nope.

abby tiscareno are you in class?

Every loan is a PMM

The answers are very entertaining:) 

It proves again: you get what you are asking for. 

Seller financing in this market not necessary!

YES! 

Other than purchasing with purchase money...you would be would be refinancing.

If nothing else, the answers to these repeat questions never fail to entertain.  

The majority of home buyers need mortgage financing.

You should speak with a loan officer.

99% of the time.  The other 1% uses cash.

Another good question for a loan officer.

make it happen

Kenneth J. Jones nailed this one!

Kenneth has answered.

abby tiscareno whenever someone purchases by borrowing money, they do use it.

when buying rentals

Abby,

John Meussner gave you a great answer.

It depends on the nature of the transaction.

That term is not really used in daily use, but it is just as it sounds. A loan used on a purchase rather than a refinace. Then you get into conventional, FHA, VA. Meeting with a loan officer in your studies would be good help to learn the different types of loans and how you will use them in real estate. 

For almost all loans.

Seller financing?  Or loan from a bank or credit union?

It is very rare that a seller will offer to hold a purchase money loan.

Eve

I think you are referring to seller financing. This does happen every now and then.

I wouldn't say often, but yes, they are used occasionally.

abby tiscareno Not all that common, but is used. I purchased a townhome a while back with owner financing.

In 14+ years in the business I have yet to manage a transaction with a purchase money loan. In my world, the answer to your question is ... the loan is not used at all. 

According to articles I've read, over 50% of homes are free and clear of a mortgage.  This would indicate plenty of opportunity for this kind of loan. Many property owners are leery, however, of this kind of transactions because of horror stories they've heard.  Properly structured, this can be very beneficial to all parties.   The nice thing about owner financing is the total flexibility in terms.

Everyday, this industry relies on them.