bank will not finance with seller financing - Posted by Tim

Posted by Don Dion on August 13, 2003 at 11:34:02:

Not only is it the norm in residential 4unit that all the down payment has to be in cash from the borrowers own funds. But the lender you picked has one of the lowest downpayment requirements. Most lender’s on 4 units are 20% to 25% down.

bank will not finance with seller financing - Posted by Tim

Posted by Tim on August 13, 2003 at 09:56:57:

wells fargo will give me a 90%ltv on a 4plex, the seller said he would help with a second for the downpayment of 5% or so, leaving me with a smaller down. the bank said the 10% down had to come from my own funds, is this the norm or are there lenders who don’t care where the down comes from. THe seller also would be willing to do more seller financing like 20% but I need to know if the lenders will accept this as a down.