NEED ADVICE: Jumbo Financing, 80-15-5

[Craig Lick]

All,

I'm trying to find jumbo financing for a very complex transaction and I'm reaching out to see if someone may be able give me advice.

1. The property in MI is up for sale at $650,000. I do plan to be owner occupied as I love the property.

2. The property needs some TLC, mostly paint, landscaping, bathroom upgrades, and kitchen modernization, estimated around 150K.

3. The price per square ft is about $120.00.

4. Upgraded houses in the area are selling in the $200.00 - $250.00 price per square foot. with the right upgrades, the property could be worth 1.3-1.5 million.

5. I only have enough cash for a 5% down payment.

6. I'm okay with a piggyback loan to support the remaining down payment (80-15-5).

7. I have a large amount of school debt and renovation debt (flood) from an apartment complex I'm buying on land contract. Total combined amount around $370,000.

8. My credit score will be above 750 by mid February. (I just sold an investment property and paid off a large amount of renovation debt from the apartment complex).

9. My wife and I, with our jobs and the income from the apartment complex, gross around 20K a month.

10. My goal is to combine the house purchase, the renovation costs, and my current debt.

Is something like this possible?

Regards,

Craig