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Updated over 3 years ago,

Peter Schafer's profile image
Peter Schafer's profile image
Peter Schafer
  • Member since Nov 9, 2020
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34
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Peter Schafer's profile image
Peter Schafer's profile image
Peter Schafer
  • Member since Nov 9, 2020
Connect
Peter Schafer
13
Votes |
34
Posts
Mortgage Brokers & Lenders

Overfinancing a deal

Peter Schafer
Posted

If I want to purchase a residential investment property, let’s say for $250k. Can I take out a loan for $300k and pocket the $50k? I understand it’s a little unorthodox, but is it legal?

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