Wrap-around refi

mobile home university
1

Hi guys

I purchased a MHP a year and a half ago with seller financing using a wrap. It is now time to refi according to the terms of our agreement. I know that some lenders/brokers are not familiar with the concept and may be leery (especially with the current commercial lending situation). Title is in my LLC’s name. A few questions regarding this scenario:

  1. How would you present this scenario to lenders/brokers?

  2. Would lenders/brokers consider this a purchase (and not a refi) since there is an underlying mortgage in another person’s name?

  3. Has anyone had any experience with the brokers/ lenders on the main page of mobilehomeparkstore.com? Marcus and Millichap, Wells Fargo, etc.

Thanks in advance for your help.