Lowell, MA · Member since 2014 · 335 posts · 52 votes
Hi BPer,
Can you recommend any lender that can help me with the following seller finance structure?
The seller is willing to hold back 10-15% to help me out with the down payment. The property composes of two buildings, and each building is a 4-family. I guess the scenario below is based on commercial lending with 25% down payment requirement. This way the loan will be combine, and I don't have to close twice.
- The bank will have to finance 75-80% (first position)
- The seller will hold back (or lend me) 10-15% (second position)
- I will put down the 10%
Let me know if you know of any bank that is willing to execute such finance structure.