are you looking to purchase I assume? 

I am currently reviewing the numbers associated with a wraparound mortgage and I need some assistance in determining if they make sense.Can anyone please direct me to the appropriate person who would be able to help me analyze and verify these figures?

I'm a newbie, just purchased (redeemed)my first property last year.

I believe my clients are happy with their first investments (purchased with me and managed by me) as well.

The purchaser's name should be on the deed and the seller should have a first position mortgage filed.

Hi Eric, Would you be purchasing the new property as a primary or Investment?

The rates for a purchase money loan (one where you take the loan out to directly acquire the property) vs when you do a "cash out refinance", which your loan would be if you chose to pay off the line with a loan on the primary residence, it typically done at a higher rate.

If it this stickily a rental there are 30Y DSCR loans available that allow you to refinance immediately after you purchase with cash BUT you are going to max out at 80% LTC.

And that house, is 1.5 years on market, and its in an area with other houses that are in the $5-15 million range.So I do find it hard that the agent who looked at it is determining based on comparable sales that the property is $600k, could get to $2 million.

Detroit is literally a block by block city and if you are not here to see the property you need boots on the ground that you can rely on to assess any potential purchase.