What is the name of your state? WA
We are trying to buy a home from a family member who is willing to privately finance a portion of the home for a yet-to-be-determined low interest rate. The price of the home is 185,000 and he is willling to finance 100,000 privately. But he needs the 85,000 so we need to find a lender to finance that portion. Would a lender be willing to split a mortgage like this? How would we go about doing it?
We are trying to buy a home from a family member who is willing to privately finance a portion of the home for a yet-to-be-determined low interest rate. The price of the home is 185,000 and he is willling to finance 100,000 privately. But he needs the 85,000 so we need to find a lender to finance that portion. Would a lender be willing to split a mortgage like this? How would we go about doing it?