The phrase "purchase mortgages" refers to loans that are used specifically for buying a property or house. It is the type of mortgage people take when they want to purchase a home and need financial assistance to do so. Full definition
While you were signing the paperwork for your mortgage, did a bank employee ask you to consider purchasing mortgage insurance protection? (slaw.ca)
However, the owner of the units can certainly purchase mortgage protection for low income housing unit renters if the policy is structured correctly. (policyzip.com)
For those who qualify, Guaranteed Rate carries extremely advantageous rate offers for purchase mortgages in a range of terms and loan types. (valuepenguin.com)