Quick question on commercial loan

[Oleg Shalumov]

Hello fellow Pocketiers, I have a quick question related to commercial loan.

Normally bank would ask 30% down-payment on loan. My question is if the seller willing to provide the financing on 40% of the selling price, and I only need to take the loan for 60% from the bank. Would bank still require me to provide the 25-30% on the transaction?

Just to plug in the numbers:

Let's say the property is $1M, and seller financing $400K. I would need the load from the bank for $600K. 

Will I need to put down $300K downpayment, or since LTV is .6, bank will not be asking for it?

Thanks!