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Updated over 17 years ago on . Most recent reply

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Purchasing a home with an Entity

Phillip Metzger
Posted

I am 22 and have estimated $40k ($10k of my own) going towards my first home as a long term investment. I plan on leasing the property.

The down payment is being funded by my partner (father) and I will be funding appliances and whatever random fixes or improvements the property will need before and during lease.

I am meeting with a lawyer later this week to setup an entity.

I need help understanding how purchasing a home through a entity works. Call up the bank and tell him I am a company and want a loan for a property? How does the bank handle the mortgage?

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