Residential lenders that will lend in first position @ 100%+ CLTV

[Jonas Grant]

For my primary residence in Nevada, I have a first mortgage with a main street lender, a HELOC second, and an SBA commercial loan lien as a third. The commercial lien is to satisfy SBA lending collateral requirements (i.e., they take all available collateral). With the third lien counted, there is no equity in the property. The first lien is about a third of the market value of the home.

The second and third liens will subordinate to the first lien, but no conventional lenders seem interested in this scenario due to the combined loan-to-value exceeding their guidelines, even though they'd be in first position just like the current lender is now.

I am seeking to refi to lower the rate, no cash out.  Does anyone know of any lender that may be able to work with such a scenario?  Thanks. 

[Jay Hinrichs]

thats interesting that a first lender with 33% LTV would worry about total loans.

Although I understand why for private lenders even with that ARV it precludes a DIL in the case of a water landing.

Maybe the banks feel the same way.. there has to be a lender out there that will do that for you though I would think.