6 month loan @ 10% down without w2. What are my possibilities?

[Cole Minnis]

I have an off market opportunity for a home at 1.3m that could sell between 1.5 and 1.6m. The house does not need any work done. Basically parking my money in this house until I can sell it. 

Reason for the 6 month period is the owner has mother and father in law living at the house and would like 4-6 month rent back.

figure I’ll give them 2 months free and then $150 per day after that point. Hope they don’t go the full 6 months or even further.

from what I’ve been hearing is conventional loan will be difficult to get. Hard money loan will be expensive. There is a conforming loan option but i would need to come up with 330k. 

Any ideas or suggestions?

[Matthew Crivelli]

What you are looking for is a bridge loan. You would need to bring down 15% - 20% but you will be given 12 months to sell or refi with out penalty.

Depending on how many investment properties you own the rate may be somewhat higher. (interest only)  Hard Money may be some what expensive but it is designed for this exact situation.