Mortgage + seller financed deal

[James Eilerts]

Hello,

My partner and I are going to purchase a single-family from a friend. They are willing to seller finance part of the deal. Property is estimated at about 170k value. We are looking to get a mortgage for 100k and seller finance the rest. My question is how do we structure this so we can get a mortgage with no money down? My understanding was as long as we aren't looking to get a mortgage for more than 80% loan to value we should be able to get a mortgage for 100k with no money out of pocket. I called an acquaintance in the mortgage department at my current bank. He seemed to be under the assumption that we would still need to put 20% down of that 100k.

Thank You in Advance