Underlying Mortgage


Definition of "Underlying mortgage"

Socorro Gonzalez & Alfonso Camargo
Socorro Gonzalez & Alfonso Camargo EXP REALTY

The first mortgage on property when other mortgages exist as well, as in the case of a wraparound loan. For example, the total amount financed might be %200,000 of which the first lien is for $80,000 while the balance of the wraparound is $120,000.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

Popular Real Estate Terms

Popular Real Estate FAQ