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Updated about 3 years ago on . Most recent reply
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Purchase of a vacation property with brother. Can we do 10%?
Hello!
My brother and I have been searching for a vacation property for a while now. We have narrowed down a few. We are looking in several states including CO, AZ, and UT.
The goal with this property is to buy something big enough we can take the family to a few times a year, and be able to air bnb it for a portion of the year to help cover costs.
My question: Can we get a 10% down home loan if there are multiple people purchasing it? Or is this going to turn in to an LLC type of deal with 25% down? Can anyone recommend a lender to speak to in these states that would deal with something like this?
Thanks!