Wrap Around Loan

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Contents Tract development construction loans web. blanket loan loan: wraparound loan require atypical underwriting blanket loans wrap Around Loan Definition (redirected from Wrap Around Loans) Also found in: Dictionary, Thesaurus. A financing device that permits an existing loan to be refinanced and new money to be advanced at an interest rate between the rate charged.

A wraparound mortgage, more commonly known as a "wrap", is a form of secondary financing for the purchase of real property. The seller extends to the buyer a junior mortgage which wraps around and exists in addition to any superior mortgages already secured by the property.

Wraparound A financing device that permits an existing loan to be refinanced and new money to be advanced at an interest rate between the rate charged on the old loan and the current market interest rate. The creditor combines or "wraps" the remainder of the old loan with the new loan at the intermediate.

A loan that includes the remaining balance on an underlying first loan. Instead of having separate first and second mortgages, a wraparound loan has both.

Wrap-Around Loan. By Investopedia Staff. A wrap-around loan is a type of mortgage loan that can be used in owner financing deals. This type of loan involves the seller’s mortgage loan on the home and adds an additional incremental value to arrive at the total purchasing price that must be paid to the seller over time.

Wrap Around Mortgage Example A wrap-around mortgage is a loan transaction in which the lender assumes responsibility for an existing mortgage. Mortgage definition is – a conveyance of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms.