Mortgage Glossary

VA MORTGAGE

 

A mortgage that is guaranteed by the Department of Veterans Affairs (VA). Also known as a government mortgage.

WRAP AROUND MORTGAGE


A mortgage that includes the remaining balance on an existing first mortgage plus an additional amount requested by the mortgagor. Full payments on both mortgages are made to the "Wrap Around" mortgagee, who then forwards the payments on the first mortgage to the first mortgagee. These mortgages may not be allowed by the first mortgage holder, and if discovered, could be subject to a demand for full payment.

907 E Strawbridge Ave Ste 101, Melbourne, FL 32901

NMLS # 1425046 | (321) 450-1886

VA: 6393340000 | FHA: 00392-0000-4

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Copyright Rejoice Mortgage Inc. 2020 This offer is made by Obsidian Financial Services Inc. d/b/a Rejoice Mortgage Inc. NMLS #1425046 1600 Sarno Rd. Suite 215, Melbourne, FL 32935, which is not affiliated with your current lender nor is it an agency of the federal government. Obsidian Financial Services Inc. d/b/a Rejoice Mortgage Inc. is approved by HUD/FHA, Fannie Mae, Freddie Mac and Ginnie Mae. This is not a government form. This is not a credit decision or a commitment to lend.This website is not authorized by the New York State Department of Financial Services. Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site.