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    Wraparound Mortgage Rider | USA


    Designate a mortgage as a wraparound mortgage by attaching this USA Wraparound Mortgage Rider to the mortgage form.

    • The Rider clarifies that the new mortgage is subordinate to the original first mortgage on the property.
    • A wraparound mortgage is often used as a form of seller financing. It enables buyers who may not qualify for a conventional mortgage to purchase a home at a higher interest rate but with a smaller downpayment.
    • The mortgagor (buyer) will make payments under the new mortgage to the mortgagee (seller), who will continue to pay the original mortgage.
    • The seller has the same rights under a wraparound mortgage that a mortgage lender has under a conventional mortgage, including the right to foreclose.
    • This Rider can be used in any State in which wraparound mortgages are allowed by law.
    • This is a template legal form which can be customized to fit your circumstances.
    Download Type: Microsoft Word
    Last Updated: 25-May-2021
    SKU: 9133
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    Ohio Residential Mortgage


    Write up a Residential Mortgage to secure repayment of a home purchase loan with this fully editable template for Ohio mortgage lenders.

    • Mortgage payments will be made in regular periodic instalments of blended principal and interest.
    • Unpaid interest becomes part of the principal and bears interest at the mortgage rate.
    • The mortgagor must pay all taxes and levies assessed against the property.
    • The mortgagor must keep the property insured in an amount and to an extent approved by the mortgagee.
    • Contains an acceleration upon default provision, which states that if the mortgagor defaults in any of its obligations, the entire amount of the indebtedness will become immediately due and payable, and the lender may foreclose and sell the property.
    This Ohio Residential Mortgage form is available as a downloadable MS Word template. Updated 09/12.