DSCR that allows seller carry for partial down payment?

Question

Working on a deal that the seller is open to carrying up to 10% of the down payment. This will be a STR and airdna fully supports a good DSCR. I've spoken to a few lenders, but they are not allowing a seller carry for any of the down. Does anyone have a recommendation of a DSCR lender that will allow a seller carry for the down payment?

Thanks!

Joe

Thanks!

Joe

Joe Alonso · Answer

I can offer up to 90% CLTV and no debt service is required. Contact me to explore further.

Erik Estrada · Answer

Yes. This is possible in Hedge fund financing. A minimum of 10-15% down is required though

Eliott Elias · Answer

I have one that can do this

Tim Kwaak · Answer

@Kayce Tackett I've been doing a strategy with buyers that is essentially a double close. Depending on how much the DSCR lender will lend on, my partners and I will cover the remainder. The reason I say this is  a double close, is because we would require the seller to be open to seller carrying the amount that we helped cover as a second note against the property.Ex. 1st transaction: DSCR covers 70% we help cover the remaining 30%.......close transaction.2nd transaction: Title opens a second escrow account and creates a 2nd lien for say 40% against the property so we can get our funds returned.

Kayce Tackett · Answer

@Stephanie P.I'm in SC. Do you still offer something like what was described above?  We'd like to purchase several homes in great condition with the seller carrying the down payment.  I'd like to connect if this is something with which you could help us.

Christian Ehlers · Answer

You can try MyInvestorLoan.com, they usually don’t care if a property has a seller carry portion of financing in 2nd position.

Stephanie P. · Answer

We can originate in Tennessee and we have a lender that will allow seller financing up to 90% loan to value. Short term rental is okay.

Rich Manfredi · Answer

Hi Stephanie!  Do you lend in TN and how much do you allow the seller to finance and how much does the buyer still need as a down payment please?  Thanks!

Rich Manfredi · Answer

Hi Eliott!  Would you mind sharing who please?  Thanks!

Stephanie P. · Answer

We can do that as well.

DSCR that allows seller carry for partial down payment?

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