F assumes both a $500,000 purchase money mortgage
note on the building and the personal loan.
A $1,860,000 purchase money mortgage
for the acquisition of a mixed-use property, consisting of 5 residential units and 3,320 square feet of retail space, in Brooklyn.
Contrary to popular belief, purchase money mortgages
have generally not become commodities--they remain highly service sensitive.
If the purchase money mortgage
is junior to a bank loan, there's a risk that the buyer will default on the seller-financed loan but not on the senior loan, leaving the seller with little recourse.
One important aspect to remember is that aggressively prospecting for member purchase money mortgage
business is probably a new concept for your credit union or CUSO and if your plan does not include franchising your employees, it will not be as successful as it could or should be.
Mike Long, chief credit officer at UW, and Julio Rios, director of mortgage lending, said the CU was on track to book roughly $100 million in purchase money mortgage
loans and between $260 million and $300 million in refinance loans this year and emphasized the impact a wide product line can have.
1,750,000 purchase money mortgage
for the acquisition of a 15,109 s/f office building in Mountain View, CA.
The Company's purchase money mortgage
volume closed during the period for the three months ended March 31, 2005, increased 11% compared to the same period of 2004 and accounted for 75% of its total loan volume compared to the industry average of 54%.
This reflects success of our plan to expand marketing efforts in new geographical areas, and our strategy to emphasize purchase money mortgage
1,100,000 purchase money mortgage
for the acquisition of a 10,000 s/f single tenant office building located ha Kokomo, IN.
Purchase money mortgage
volume increased 6% and 15%, respectively, for the three and nine months ended September 30, 2004 compared to the same periods of 2003.
74% purchase money mortgage
with an initial term of five years.