Mortgage Company's thoughts on Second mortagages - Posted by dave

Real Estate Investing
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Posted by Paul McInerney on June 19, 2000 at 21:52:44:

Call a few different mortgage companies about your situation. You will probably get just as many different answers. If you intend to owner occupy, your chances of obtaining a 5% down will increase.

Good Luck

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Mortgage Company’s thoughts on Second mortagages - Posted by dave

Posted by dave on June 19, 2000 at 13:06:39:

I am thinking of purchasing a 4 unit. I would like to structure it with a 80% first with a traditional mortgage company. I would like to get the seller to carry a 15% second.

How do mortgage companies look at that? I see two options:

  1. Good. Seller will stay active, watch the property.
  2. “no-way, no-how”