A mortgage securing a portion of the purchase price owed to the seller from the purchaser in connection with a commercial real estate purchase and sale transaction. A purchase money mortgage is like any other kind of mortgage, except that the seller is effectively deferring a portion of the purchase price due from the purchaser. In some instances, a loan from a third party enabling the purchaser to purchase real estate is also considered a purchase money mortgage.

In some states, a purchase money mortgage is considered a super lien, meaning that it has priority over any other lien on the property, including previously executed but unrecorded mortgages.