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Updated over 5 years ago on . Most recent reply

Kerry Bragg's profile image
Kerry Bragg's profile image
Kerry Bragg
  • Rental Property Investor
  • from Roanoke, TX
  • Member since Jan 22, 2019
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Kerry Bragg's profile image
Kerry Bragg's profile image
Kerry Bragg
  • Rental Property Investor
  • from Roanoke, TX
  • Member since Jan 22, 2019
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Kerry Bragg
  • Rental Property Investor
  • Roanoke, TX
1
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12
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Private Lending & Conventional Mortgage Advice

Hard money loan for down payment ?

Kerry Bragg
  • Rental Property Investor
  • Roanoke, TX
Posted

Can you get a hard money loan just for a down payment and if so, is it wise to do so? It would be my first rental property.

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Wayne Brooks's profile image
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Wayne Brooks
  • #1 Foreclosures Contributor
  • Real Estate Professional
  • from West Palm Beach, Florida
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Wayne Brooks's profile image
Wayne Brooks's profile image
Wayne Brooks
  • #1 Foreclosures Contributor
  • Real Estate Professional
  • from West Palm Beach, Florida
  • Member since Jul 27, 2012
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

HML's do Not loan money for down payments....that would put them with a 2nd position mtg, which they wouldn't do, the primary mtg will require a 1st position.

Down payment either comes from you, or a partner.

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