Quote from @Jay Hurst: Well, no, the fed cut the fed funds rate which is the rate that big banks lend money to each overnight.

He was eyeing a property with a HELOC attached, and we found out.. from what I've herd, banks can be a bit cautious when there's a second lien.

I have to think a ski town is all about STR  not the opposite They currently have about 100K in the bank that was to be used for a common space amenity, but I suppose could be used for enforcement legally. 

I have a few different bank accounts with multiple banks for different reasons (business partnerships, bank relationships, etc.)

That is, @Bill B. is correct.While true that it’s harder to find P/HMLs willing to lend in second position than first, it’s also true that many of these will only lend behind a large conventional lender, such as a bank.

My realtor retired from Banking Management about 30 years ago.

Are all banks willing to lend to LLCs?

The process is getting allthe information together like the 1003, credit authorization form, bank statements, income statements etc. they will underwrite the file and confirm the borrowers ability to repay.What state is this in?

 You may be able to secure higher leverage financing through alternative lenders than a traditional bank (not always the case) and this may help advance your objective of reducing the down payment/cash requirement but that may only be temporary relief as you will likely pay more over the course of the loan because of higher rates and fees.

If you dont meet the reserve then the bank has the option to wait and repost the deal at a later time.