Bank Loans

[Christian Garcia]

if I want to purchase an apartment complex and the current owner is asking for a 20% down of the selling price and I have 8% of that 20% down payment , can the bank loan me the other 12% ?

[Christopher Telles]

Originally posted by @Christian Garcia:

if I want to purchase an apartment complex and the current owner is asking for a 20% down of the selling price and I have 8% of that 20% down payment , can the bank loan me the other 12% ?

 You would be hard pressed to find a lender to loan you the other 12% of the downpayment if it needed to sit behind the sellers 1st owner financing.

How motivated is the seller? Would he perhaps carry owner financing behind a lenders 1st trust deed for the 12%? Its unlikely a seller would agree to this unless they are really motivated to sell. In addition, you would really need to search for a lender that would be willing to lend in this scenario, but there maybe some lenders that will, including some hard money lenders.

You didn't provide your purpose for the acquisition, long term investment, value add improvement to flip or refinance later.

As in real estate acquisitions and ownership, details matter too in being able to providing useful guidance. With little details, little guidance can be provided.