seller carry 2nd mortgage

[Darryl Barnes]

Are there any lenders out there that will let sellers carry a second Mortgage

[Jay Hurst]

Quote from @Darryl Barnes:

Are there any lenders out there that will let sellers carry a second Mortgage

Yes, however, the second lien still has to be calculated into the combined loan to value. (CLTV) So, if for example the max combined loan to value is 85%, the first and second lien cannot combine to be more the the 85% loan to value. So, you cannot get around loan to value requirements with a seller held second lien. (or, any second lien for that matter)

[Andrew Postell]

@Darryl Barnes as mentioned above it is possible but it most scenarios there's not that much of a reason to do it since that 2nd cannot go over the maximum LTV/CLTV limits anyway. But if that seller is providing a 2nd lien that's 0% or maybe just less than the normal rate that you would receive then that would be a reason to do it. Not sure what would be in it for the seller to do that but it's at least possible in concept.