Commercial lenders limit how much of a second mortgage they will permit, and typically that’s a 90% combined LTV. Depending upon your credit and the specifics of the deal, some may permit up to 95% CLTV. They all want to see that the buyer has some cash in the deal. Otherwise you need to consider an equity participant.
Just a quick question…There are more spec but wondering about this…5 million for this business…I need 25 % down wich is 1,250,000.00…If I ask the seller to a second or note of 15% of the down payment over 5-10 years which is 1,125,000.00 that I pay so I will need 125,000.00 of my own money to buy this …Is this correct explain if i am off.