Getting a Loan without putting 30% down if the appraisal is highh

[Gail Woung]

We are purchasing a fourplex and a lot for 400,000 in Oregon.  Our accountant had the great idea to separate the plex and lot, and to purchase the lot for 150,000, holding it in our profit sharing account.  So the price of the 4plex is now 250,000 which will greatly increase our cash flow.  The home will likely still appraise for around 350,000.  The bank (Umpqua) is telling us that we will still need to put 80,000 down.  The plan is to borrow it from ourselves, (401k or profit sharing acct) and then refinance, as that is what Umpqua says we need to do.  

Is there another bank that will give us an initial loan factoring in the appraisal or are we stuck refinancing to get our  borrowed funds back?  The 80,000 will cost us around 1500.00 a month, and then of course there is the fact that we are paying all the fees twice.