Just a general question.

6 Replies

Hi @Delmas Edwards , just want to get some clarity here... Normally when you're looking for a lender and they give you a mortgage, the downpayment is the amount of money YOU need to come up with out of pocket.  There are a few programs, depending on your situation, that can reduce the downpayment, but what is it you're looking to do exactly?  

If you're trying to get one lender to loan on the majority of a purchase and then another lender to lend on the remaining portion (so you have financing to the tune of 100%) that's usually not allowed by a lender.

@Delmas Edwards You will not find a conventional/commercial lender that will foot the down payment. If your house hacking and getting an FHA loan that's a different question. You may want to look into getting a HML who will assist you with capital for the down payment. However in this instance you have to ensure that the lender is OK with that as you will have no skin in the game. Good Luck. Persist and you will win!!!

This post has been removed.

This post has been removed.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here