Have a Rehab client looking for 90/100% loan for single family house near Indianapolis

[The Loan Center]

I am looking for a source for 90% purchase funding with all renovations financed. The best I have through my own sources is 85%. Here are details:

Home is off market. Client can purchase this house, currently vacant, for $395,000. In decent shape now but client would like to put on a new roof, add new laminate flooring throughout, paint interior and exterior, and upgrade front yard landscaping. Total cost to be approximately $48,000. ARV to be around $530,000. 

Client currently owns his own home (through bank) and also has one rental property that is currently leased through June 2025. He also sold a rental property in 2022. That is the extent of his experience. He is an Electrical Engineer, been at the same job for 4 years but same occupation for over 20 years. Salary $120,000 a year. Net worth around $1.1 Million. He is only willing to put 10% down and wants the rest financed. 

I just don't have a reliable 10% down option so I thought I would ask here?

Comment or message me direct. I will not respond to generic replies or links. I just want a good reliable lender or broker to tell me what you can offer. Prefer working with a lender since I am a broker but I will work with another broker if I feel you can do a good job for this client.

Thanks in advance.

Karl at The Loan Center

[Dan Jensen]

Following. I could use the same type of funding myself.