Loan for down payment

[Michael Campbell]

Good morning,  can I get a personal loan as a down payment for an investment property?

[Kristen L Garner]

Hi Michael, it depends on the loan product/type and the corresponding guidelines.  There are some non-QM products that allow "gifts" to be used as down payments on investment purchases.  And there are other products in which the personal loan would need to be seasoned for x amount of months in a bank account (typically 2-3 months).  There will certainly be a way to get it done with the use of a personal loan...you will just want to make sure you are clear on the guidelines with your lender first.  I'd be happy to discuss further if you'd like to DM details of your scenario.