5 unit apartment question on financing

[Al Phillips]

I am considering buying a 5 unit apartment building.  What should I expect to pay (interest rate) on a 71% commercial loan to a bank and a seller carryback 2nd mortgage to the seller.  The seller is willing to take a $40,000 2nd mortgage, interest only, at 5% ( $167/mo).  Is this a good rate?

Also, will a bank allow me to finance the complete purchase of $100,000 with the bank and $40,000 with the seller?