Mortgage & Commercial Lending News.

Houston's premier blog for all things related to Commercial and Residential Hard Money Loans.

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How Wraparound Mortgages and Hard Money Loans come together.

Posted by Jim Emerson

Mar 2, 2017 12:00:00 PM

You may or may not have heard of this term before but a wraparound mortgage or “wrap” is a form of secondary financing for the purchase of real estate property.  The seller/lender extends to the buyer a junior mortgage which wraps around an existing mortgage,  typically the bank or the seller of the real property assumes the payment of the existing mortgage and provides the borrower with a new larger loan, usually at a higher interest rate.

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Topics: Hard Money, Hard Money Loans, hard money lenders, wraparound mortgages

   

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