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Updated about 6 years ago on . Most recent reply

User Stats

11
Posts
2
Votes
Mike Yang
  • Minneapolis, MN
2
Votes |
11
Posts

Any piggyback lenders?

Mike Yang
  • Minneapolis, MN
Posted
I found an apartment complex that I want to acquire and was wondering if there’s any lender out there that would do a piggyback loan or second mortgage. My plan is to ask the seller to finance 15% and I come up with 5%. If the offer gets rejected, I have 5% to down and need a piggyback loan(second mortgage) for 15%. Let’s say 80/15/5 and second lender to finance the 15% portion. My credit score is 739 and never miss a payment. I don’t want to miss this opportunity and hope there’s some lenders out that I can work with to make it happen.

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