I have a question about financing the down payment. If I needed to put down $140k are there going to be any issues with the bank if i get the money from someone or a hard money lender? I have always been told that I had to provide the Down payment. but, I know people borrow the money from family or a hard-money lender to make the deal. i just dont have any experience with doing this. Any advice or avenues for doing so would be greatly appreciated.
I have a great opportunities but I need more capital. I am hesitant to Pull my Retirement account for this too, especially since my account is receiving 10% year to date…
Search this forum for bank fraud down payment and you will find a few threads on this topic. In general, the bank will not permit you to borrow the equity you are putting into a deal. If you try to do it anyway and hide this from the bank you may end up in very hot water.