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Updated over 3 years ago on .

Ariel Davenport's profile image
Ariel Davenport's profile image
Ariel Davenport
  • Member since Mar 12, 2021
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6
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Ariel Davenport's profile image
Ariel Davenport's profile image
Ariel Davenport
  • Member since Mar 12, 2021
Connect
Ariel Davenport
2
Votes |
6
Posts
Private Lending & Conventional Mortgage Advice

Family & Friends Loan Term

Ariel Davenport
Posted

I just finished my first deal, and and presented with an offer from a neighbor who's mother in law past away. The house is 1500sq ft, 3/2 and the same floor plan of a house in the same neighborhood as our first deal. He is asking $120k, ARV based on DealCheck and a recent appraisals is probably 150-160k.

Basically the deal looks good but I need a down payment $24k. If I ask my mom or other family for a loan, what kind of terms would be fair?

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