Does this hard money "loan scenario" seem realistic?

1 - Owner Occupied - Residential (SFH in Florida)
2 - Conservative Appraised Value: $ 250,000
3 - Seller has good equity in property.
4 - Seller will carryback: $ 87,500.00 second mortgage (35% LTV)
5 - Buyer will put 5% down (5% LTV)
6 - Buyer’s Hard Money Loan Needed: $ 150,000 first (60% LTV)

Is this scenario possible for a borrower with a low credit score?

Allowing the seller to carry a 35% second?

I’d like to market this or similar scenarios here in South Florida.

Opinions & hard money help anyone?


P.S. Happy Holidays to All!

Seems possible from the info given.

2 types of hard money lenders.

  1. Those that specialize with investment properties. Rehab loans included with this group. Most will not do owner occupied properties.

  2. Recently there has been an influx of “non conforming” lenders offering hard money like programs. Most of the guidelines I’ve reviewed over show just about anything can be done if the lender’s ltv is no higher than 65%.