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John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

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

Feb 15, 2017 01:02 PM
Rainmaker
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Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

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.

Feb 16, 2017 04:02 AM
Rainmaker
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Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

musing over the responses.

Feb 15, 2017 08:04 PM
Rainmaker
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

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

Feb 15, 2017 04:37 PM
Rainmaker
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Nope.

Feb 15, 2017 12:40 PM
Rainmaker
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Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

abby tiscareno are you in class?

Feb 16, 2017 05:40 AM
Rainer
213,213
Dennis Swartz
Full Circle Property Management - Columbus, OH
MBA, GRI...experience counts!

Every loan is a PMM

Feb 16, 2017 03:17 AM
Rainmaker
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

The answers are very entertaining:) 

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

Feb 15, 2017 11:30 PM
Rainmaker
4,568,063
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Seller financing in this market not necessary!

Feb 15, 2017 01:39 PM
Rainmaker
884,663
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

YES! 

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

Feb 15, 2017 01:18 PM
Rainmaker
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

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

Feb 19, 2017 03:32 PM
Rainmaker
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Roy Kelley
Retired - Gaithersburg, MD

The majority of home buyers need mortgage financing.

Feb 17, 2017 06:51 AM
Rainer
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Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

You should speak with a loan officer.

Feb 16, 2017 09:40 PM
Rainmaker
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

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

Feb 16, 2017 09:25 AM
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Another good question for a loan officer.

Feb 16, 2017 07:59 AM
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Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

make it happen

Feb 16, 2017 04:40 AM
Rainmaker
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Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Kenneth J. Jones nailed this one!

Feb 16, 2017 04:02 AM
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Kenneth has answered.

Feb 16, 2017 03:54 AM
Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

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

Feb 15, 2017 11:15 PM
Rainmaker
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Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

when buying rentals

Feb 15, 2017 06:10 PM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Abby,

John Meussner gave you a great answer.

Feb 15, 2017 05:05 PM
Rainmaker
1,157,535
FN LN
Toronto, ON

It depends on the nature of the transaction.

Feb 15, 2017 04:06 PM
Rainmaker
3,384,723
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

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. 

Feb 15, 2017 04:02 PM
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

For almost all loans.

Feb 15, 2017 03:57 PM
Ambassador
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

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

Feb 15, 2017 03:47 PM
Rainmaker
612,606
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

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

Eve

Feb 15, 2017 02:00 PM
Rainmaker
608,980
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

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

Feb 15, 2017 01:31 PM
Rainmaker
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Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

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

Feb 15, 2017 01:17 PM
Rainmaker
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Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

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

Feb 15, 2017 12:59 PM
Ambassador
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

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. 

Feb 15, 2017 12:06 PM
Ambassador
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Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

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.

Feb 15, 2017 11:56 AM
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Everyday, this industry relies on them.

Feb 25, 2017 10:05 PM