What to disclose? Using a personal loan for Down payment...

[Pete Fiannaca]

Hey friends. I have sourced 3-4 private lenders (family and friends) who are willing to assist with property acquisition via private loans. This would not be for the whole price of the property, so I'm still utilizing a bank.

Using nice, round numbers, if I buy a duplex for $100K and need 25% down, am I going to run into any major snags if I come out of pocket $10K and a family member loans me $15K, or if I get private money for the whole $25K, let's say? It's great, because I've finally found funds to get rockin' and rollin', but I want to be sure that a bank is going to be on board as well.

Just a bunch of silly, process questions... 

When do I disclose? Do I have to disclose? Bank in first position with private lender in 2nd? Etc... 

THANKS!