Down Payment Loan

[Kevin Izquierdo]

Can I/ is it wise to take out a hard money loan for a 20-30% down payment on a multi family home?

[Ann Bellamy]

Kevin, hard money lenders almost always want to be in first position.  So can you?  probably not.

Is it wise?  Well, that's a moot point if you can't find a lender anyway. 

Downpayment funding is sometimes called "gap funding" (a term that a guru made up for a seminar so now it's come into common usage.)  You would usually need to find a private person for that:  I've seen gap funding from the real estate agent, the attorney, your grandmother, etc.  It's all about relationships, not hard money.