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Updated over 3 years ago,

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Nick Keskey
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Airbnb house purchase with investor money

Nick Keskey
Posted

Hello,

I am trying to purchase a single family house that I would like to use as an Airbnb. As the purchase of the house would be an investment property the bank requires a 20% down payment. I would like to use an investor to help me provide the down payment. My loan provider said that if an investor provided money at closing, their name would need to be part of the loan. I was told that I could only use investor money and not include them on the loan if this was property I was going to live in (or be a second home). I would like to keep the loan in my name alone. Is there any way a loan can be set up to complete the purchase of the house with investor money without including their name on the loan?

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