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Down Payment For Owner Financing, Can I Use A HML?

bobhope profile photo
  • Saturday, December 18, 2004 @ 08:26 PM EST
  • 2 Comments
Will a HML lend out money for a down payment on a owner financing deal? I imagine they'd rather you'd get a loan for the full amount of the property.
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  • rajwarrior
    rajwarrior18th December, 2004
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    No, that would put the HML in a 2nd position, and I've yet to meet one that would do that.

    Roger

  • regal
    regal18th December, 2004
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    When I loan money, I don't care if I'm in second position as long as I have 20-25% equity above me.

    If you have a good deal, you could run it by the hml's.

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