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Updated almost 7 years ago,

User Stats

32
Posts
3
Votes
Jon DeCamp
  • Middletown, NJ
3
Votes |
32
Posts

Types of Mortgages - What do these mean?

Jon DeCamp
  • Middletown, NJ
Posted

Below is mortgage history data for a property:

The property was sold in 2004 and purchased by current owner for $248,000. It looks like there was a mortgage for $173,600. It looks like the owner put down a 30% down payment and borrowed the rest.

What does the refinancing column for 2006 mean? There are two mortgage amounts, a "Refi" for $25,000 and a "Seller/Carry Back" for $30,000. What do these mean? Can the total amount of equity be determined from these numbers?

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