Updated over 5 years ago on . Most recent reply
Structuring Private Money
When using friend's or family's money, how is this typically structured? If the money will be used for a down payment and/or rehab costs, is a simple agreement used which lists terms, interest, amount, etc? If it is used for a downpayment, will the lender need to see this so they can verify those funds in some way even though it is still only my name/credit/income on the loan?