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Updated over 11 years ago,
Split Into Smaller Packages?
Hi,
So I have a package that I am going to purchase of 30 units.
My lender requires that I have 10% liquid reserves and 20% equity on hand.
I have 20% equity to show, but only 5% liquid reserves after that.
The seller has agreed to carry an unsecured purchase money mortgage for the downpayment.
Should I split this into 2 loan packages, so that I have 10% liquidity to show on both packages?