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Updated almost 4 years ago on . Most recent reply

Elvija Haxhaj's profile image
Elvija Haxhaj's profile image
Elvija Haxhaj
  • Member since Nov 23, 2020
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Elvija Haxhaj's profile image
Elvija Haxhaj's profile image
Elvija Haxhaj
  • Member since Nov 23, 2020
Connect
Elvija Haxhaj
1
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7
Posts
Private Lending & Conventional Mortgage Advice

Converting Private Loan

Elvija Haxhaj
Posted

Hi,


I found a deal for a house in New Jersey. The owner is a friend who wants 150k Cash. The house needs some work so I was wondering is it possible to get a loan from a private lender to pay him the cost of the house instead of using my own money and then convert the private loan to a conventional loan? Help I’m new to this but hear that some people do certain things like this where they don’t have to use up all of their funds. 

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