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Ltv
ukndoit
Posts: 1 Newbie
If I had a home that was worth 200,000 and I had a buyer for it that was only approved for 80%, could I hold a note for the other 20% so that the loan could get approved, or would they want the 20% to be cash?
If it had to be cash, could we secure a personal loan before they close on the house for the 20% amount then after the deal closed file the 20% loan as a 2nd mortgage? Since the 20% would really be going to me anyways as the seller?
Thanks,
Richard
If it had to be cash, could we secure a personal loan before they close on the house for the 20% amount then after the deal closed file the 20% loan as a 2nd mortgage? Since the 20% would really be going to me anyways as the seller?
Thanks,
Richard
0
Comments
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However it is structured this is a 20% vendors deposit - not acceptable to the purchaser's lenders.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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