What's The Likelyhood Of A 25% Piggyback With Different Lender
I got approved for a 65% LTV on a multi unit that I actually needed at least 70%. Now I see another opportunity for improvements to property and to bring value up if I can piggy back a 25% second on the property at time I close first. This is a purchase and the fist lien lender does not do seconds. What is the likelyhood that I will be able to get a second mortgage i can close at the same time as the first? I have been searching goolge and other search sites but getting a lot of junk sites.
Also before anyone suggests, I have looked in the lender section. The first lender has very relaxed credit criteria. Anyone have any lender / broker come to mind PM me. thanks
Same time? I don't see it happening.
Now if you closed on it then held on for a few months then a local bank might do it so that you can improve the place.
Or you can close then get a credit card from Lowes or Home Depot then use that do buy materials with.