Technical Question: 100% CLTV via Seller-Held Second in WA State

[Bradford Williams]

Body:

I'm currently underwriting a 45+ DOM property in [County Name] that fits a specific MTR buy box. The seller is open to an 80/20 split where they hold the 20% equity as a second mortgage to bridge the gap.

My Question for the Pros:

Has anyone successfully closed a DSCR loan recently that allowed for a 100% CLTV if the second lien is seller-held? I'm trying to verify if the "skin in the game" requirement is satisfied by the seller's equity position or if I absolutely need to bring 10% cash to close.

I have the pro-forma ready, just trying to validate the debt structure before I lock the LOI. Thanks!