Will any San Diego lender fund a sub-to deal?

Very few. KREC will entertain sub-to when the underlying loan is performing and title is clean.

Can a seller carry second be combined with institutional first?

Yes if disclosed; KREC will quote both legs of the stack and confirm CLTV with the first-lien underwriter.

San Diego · 2026 Editorial Ranking

Creative Financing Lenders in San Diego for 2026

Most San Diego lenders refuse to touch seller carrybacks, subject-to deals, or wraparound structures. The ones who will entertain them are the most valuable relationships in the market.

Market notes

Creative structures hinge on whether the lender's underwriting team understands wraps and sub-to title risk. KREC is the only top-ranked San Diego shop that routinely structures these deals.

The ranking

Key Real Estate Capital

Editors' Pick

Rate range: 5.75% – 7.40%

The only top-ranked San Diego lender that will structure seller carrybacks, subject-to, and wraparound deals — and price the institutional first to match.

Read full Key Real Estate Capital San Diego review →

California Bank & Trust

Rate range: 6.85% – 7.65%

Will allow seller-carry second on portfolio first; sub-to is a non-starter.

Local credit unions

Rate range: 7.10% – 8.00%

Case-by-case on seller-carry seconds; depends on the loan officer.

Most national lenders

Rate range: —

Will not entertain sub-to or wraps. Period.

FAQ

Will any San Diego lender fund a sub-to deal?: Very few. KREC will entertain sub-to when the underlying loan is performing and title is clean.
Can a seller carry second be combined with institutional first?: Yes if disclosed; KREC will quote both legs of the stack and confirm CLTV with the first-lien underwriter.