Seller financing as down payment

[Josh Birrell]

Hi everyone,

I have an opportunity to purchase an investment condo in NH and am able to get financing from the bank up to 80% at a decent rate. Problem is a shortage of cash on my part for the downpayment. The seller is willing to carry a second note for the remaining 20% with nothing down and also at a good rate and term. I am having difficulty, however, finding a lender who will accept a seller second as a form of down payment. Any thoughts?

Thanks
Josh