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2. Mortgage note: What is it and how does it work? - AOL

   www.aol.com/finance/mortgage-note-does-211132255...

   The mortgage promissory note includes the borrower’s “promise to pay” the loan. It also lists the consequences should the borrower pay late or miss a payment, along with: ... For an example ...

3. Wraparound mortgage - Wikipedia

   en.wikipedia.org/wiki/Wraparound_mortgage

   An example: The seller, who has the original mortgage sells his home with the existing first mortgage in place and a second mortgage which he "carries back" from the buyer. The mortgage he takes from the buyer is for the amount of the first mortgage plus a negotiated amount less than or up to the sales price, minus any down payment and closing ...

4. Mortgage note - Wikipedia

   en.wikipedia.org/wiki/Mortgage_note

   In the United States, a mortgage note (also known as a real estate lien note, borrower's note) is a promissory note secured by a specified mortgage loan. Mortgage notes are a written promise to repay a specified sum of money plus interest at a specified rate and length of time to fulfill the promise.

5. Gap financing - Wikipedia

   en.wikipedia.org/wiki/Gap_financing

   Gap financing can also be used in purchase/rehab lending to fill the "gap" between the borrower's down payment, and the amount lent by the 1st lien holder, or rehab lender. Typically rehab lenders will only go to 65-70% ARV (After Repair Value), so if the borrower is bringing 10% into the deal, the gap funder would provide the other 20-25%, and ...

6. Guide to no-down payment mortgages: Am I eligible? - AOL

   www.aol.com/finance/no-down-payment-mortgage...

   United Wholesale Mortgage, for example, offers lower- to moderate-income borrowers conventional mortgages paired with a no-interest, payment-deferred loan that covers a 3 percent down payment on ...

7. What is a down payment? - AOL

   www.aol.com/finance/down-payment-180952544.html

   In that $400,000 home example, a 20 percent down payment would save more than $78,000 over a 30-year mortgage. Potentially better terms: Lenders like to see larger down payments.