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Updated over 9 years ago,

User Stats

3
Posts
1
Votes
Kevin Roach
  • Renter
  • Gilbert, AZ
1
Votes |
3
Posts

Can you borrow the down payment from one lender to then use to secure a mortgage with a second lender? And is that a good idea?

Kevin Roach
  • Renter
  • Gilbert, AZ
Posted

Looking to get into my first multi-family property (first of any type of property actually) and I don't have enough for a down payment.  Would it be possible to borrow the 20-25% needed for the down from bank A and then turn right around and give it to bank B as the down payment needed to secure the whole mortgage for the multi-family units?

Kevin R. 

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