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Updated about 3 years ago on . Most recent reply

Mike Bloom's profile image
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Mike Bloom
  • Member since Feb 8, 2022
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Mike Bloom's profile image
Mike Bloom's profile image
Mike Bloom
  • Member since Feb 8, 2022
Connect
Mike Bloom
4
Votes |
15
Posts
Mortgage Brokers & Lenders

Can I use bridge loan for downpayment for multifamily apartment?

Mike Bloom
Posted

Is it possible to pay for a down payment on a multifamily apartment using a bridge loan? I don't have enough money to buy a 15-unit apartment in Texas; I only have about 15%. I had the notion of using a bridge loan as a down payment, then rehabbing the property and raising the rentals to market value before refinancing.

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