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Updated over 6 years ago on . Most recent reply

Rik Patel's profile image
Rik Patel's profile image
Rik Patel
  • Real Estate Agent
  • from Miami, FL
  • Member since Sep 20, 2018

User Stats

132
Posts
25
Votes
Rik Patel's profile image
Rik Patel's profile image
Rik Patel
  • Real Estate Agent
  • from Miami, FL
  • Member since Sep 20, 2018
Rik Patel
  • Real Estate Agent
  • Miami, FL
25
Votes |
132
Posts
Innovative Strategies

Down payment- How to Partner?

Rik Patel
  • Real Estate Agent
  • Miami, FL
Posted

Hi Everyone!

I want to borrow $40,000 for a downpayment on a $170,000 house from a family member. I'll be getting a 30 year fixed loan at 5% for the house. What's a way I can structure a loan deal with my family member? How would you pay them back?

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