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Updated over 11 years ago,

Account Closed
  • Long Beach, CA
5
Votes |
134
Posts

Split Into Smaller Packages?

Account Closed
  • Long Beach, CA
Posted

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?