Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 6 years ago,
Personal loan for down payment? Can’t miss opportunity..
I'm stuck! I have a great opportunity to acquire 12 SFR cash-flowing at $10,210. But the down payment needed from most lenders is 25%. I can only do 10-20%. I need $75,000 for the down payment. I have great credit, but I've been building my credit for the best rates and terms for the commercial loan! I'm considering just getting a personal loan for the down payment, but it'll destroy my credit.
Anybody have suggestions on how I can come up with this down payment?
Does anyone know of any lenders that will roll the down payment into the mortgage? (I don’t care if the mortgage is 5k! I’m cash flowing 10,210) Or any lenders that will take 10% down payments?
I cant stress urgency enough guys
I’m located in Cincinnati, OH
Thanks everyone