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Updated over 3 years ago,
Seller financing the downpayment on a normal RE loan?
Hi everyone,
Though it's rare, I occasionally see rental properties for sale where the seller is offering to do partial seller financing. I had the idea of trying to get a normal 80% loan with a lender but pairing that seller financing for the 20% downpayment. Unfortunately, the lenders I'm already familiar with have shot down this idea because there cannot be any 2nd positions on their loans.
Is this possible to do or will this always be shot down across the board? If possible, this could be a great way to do no money down deals!
Thanks everyone!
- Chad