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Updated about 3 years ago on . Most recent reply

User Stats

36
Posts
15
Votes
Monica Soyemi
  • Real Estate Agent
  • New York City, NY
15
Votes |
36
Posts

HARD MONEY HELP IN WESTCHESTER COUNTY

Monica Soyemi
  • Real Estate Agent
  • New York City, NY
Posted

So many hard lenders want 20% of the purchase price as a down payment, in a market like NYC having 20% down is tough. What's another way to acquire hard money loans without such a huge down payment?

  • Monica Soyemi
  • Most Popular Reply

    User Stats

    173
    Posts
    125
    Votes
    David Bilandzija
    • Lender
    • Venice, CA
    125
    Votes |
    173
    Posts
    David Bilandzija
    • Lender
    • Venice, CA
    Replied

    @Monica Soyemi You can look into being creative with the financing by combining a seller carry back loan with hard money financing.  The limits will vary from lender to lender/deal to deal.  Try expanding the lenders you are speaking with to include private portfolio lenders.  Good luck.  

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