Applying for Refinancing

[Blair Murphy]

hi,

I'm wanting to invest in a second rental property. I was contacted by a refinance guy and he's asked me two questions that I don't know what/how to answer: 

What is the first mortgage debt on it ? Did you pay for it or do an installment sale ?

I've googled these terms but really only got further confused. Can anyone help me with this terminology?

Thanks in advance!

Best,

Blair