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Updated almost 3 years ago on . Most recent reply
Private Lending question
Hey everyone,
My current primary residence is financed through a private loan with a family member and does not show up in my credit report. If I go to purchase a new primary residence or investment property, will I need to report this loan or not? My plan is to buy a new primary residence and rent this current house out, but my DTI would not qualify for much of a new loan if this private loan counts. I hope that makes sense and thank you for the help!
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Jay Hinrichs
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Jay Hinrichs
#1 All Forums Contributor
Professional Services
#1 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
they will pick it up on your tax return.
- Jay Hinrichs
- Podcast Guest on Show #222
JLH Capital Partners