Need Creative Financing Help

[Logan Mccleve]

Looking for some ideas on how to purchase a property outside our budget. We are new investors with only 200k to put down.

The deal is a 12 unit apartment building for arround 2 million.  The seller is very motivated to sell to us. He needs money at the time of the sale due to some balloon payment he will owe. Im not sure of all the details but its around 400k he will owe. Because of this, seller financing the whole deal is off the table. However he is willing to pay the the 30% down required by comercial lenders for us to get the loan. The only problem is the banks i have talked to told me the seller cant pay the down payment. They also told me i could not use hard money for the down payment.  I keep thinking if there is a lender that will let the seller pay the down for us, we could get into this property with little to no money down.

Any ideas on lenders that will let the seller pay the down payment?