Where would I find homes for sale that offer a wrap-around mortgage?

Question

Where would I find homes for sale that offer a wrap-around mortgage?

Answer 1

A wrap around mortgage can ONLY be used if you currently own a home, and it uses the equity of your EXISTING home to "pay" the mortgage monthly so you can purchase another property.

What property you buy doesn't matter...it's up to you to figure out the financing, not the sellers.

I would highly caution you against doing that type of loan.  If your house doesn't sell, and the equity gets used up, then the bank will foreclose on BOTH houses...and I can't even tell you how badly your credit will be damaged with a multiple foreclosure on your credit....beyond repair.

If you can't sell the house, you can't afford to buy another one.

Not in this market.

Answer 2

You probably can not find any homes like that.

99.99 percent of home loans have a "due on sale" clause which means the loan must be paid off when the home is sold.