Skip to content
Creative Real Estate Financing

User Stats

280
Posts
68
Votes
Jordan Archer
  • Rental Property Investor
  • Stuart, FL
68
Votes |
280
Posts

Will a bank refinance a home you bought with a wrap?

Jordan Archer
  • Rental Property Investor
  • Stuart, FL
Posted Oct 2 2014, 08:02

Hey BP,

This is something I want to know in order to reassure some of my buyers...

So, I want to buy/acquire homes subject-to. I then want to find a buyer (one who can't get conventional financing/loans) and sell the property to them with a wrap mortgage. (These are all techniques I heard from podcast #70 btw).

I'm wondering now, will a bank give my buyer a conventional loan on that property later on when the buyer's credit improves? This mortgage would of coarse be used to pay off the original loan that I would take over subject-to.

I'm wondering, because I want to make sure I can assure my buyers that they will be able to refinance the home later on from a bank, hence making this a smart purchasing option for someone not able to currently acquire a loan.

Thanks BP!

Loading replies...