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Updated almost 5 years ago,

User Stats

11
Posts
2
Votes
Audrey Thiault
  • Investor
  • Atlanta, GA
2
Votes |
11
Posts

financing downpayment on residence with basement rental unit

Audrey Thiault
  • Investor
  • Atlanta, GA
Posted

My husband and I are under contract for this home in Decatur, GA, way below market, ($285K) includes independent basement rental with lease through December. Need to finance up to $70K downpayment.  In qualifying for our conventional loan pre-approval, we were not able to take into account the $900 per month rental payments.  I'm wondering if there is a way to get a personal loan for the downpayment, given that we have the monthly rental payments coming in.  I would appreciate any advice.  Thank you!  Audrey 

p.s. I have sent out a few messages to hard money lenders, got one reply that said they probably weren't a good fit for this.

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