Residential lenders that will lend in first position @ 100%+ CLTV
For my primary residence in Nevada, I have a first mortgage with a main street lender, a HELOC second, and an SBA commercial loan lien as a third. The commercial lien is to satisfy SBA lending collateral requirements (i.e., they take all available collateral). With the third lien counted, there is no equity in the property. The first lien is about a third of the market value of the home.
The second and third liens will subordinate to the first lien, but no conventional lenders seem interested in this scenario due to the combined loan-to-value exceeding their guidelines, even though they'd be in first position just like the current lender is now.
I am seeking to refi to lower the rate, no cash out. Does anyone know of any lender that may be able to work with such a scenario? Thanks.