Other loan options outside of traditional mortgage broker.

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Hello, Looking to do a deal with a relative that would like to front the down payment on what will be a rental. We have an LLC and business accounts established. The traditional mortgage broker we are using wanted to use my personal banking and debt-income and needs the down payment to come from me. The relative is maxed out and has no reportable income due to retirement. I do and so does the company. We thought a simple transfer of the down payment to me or the business would work but it appears it would incur a gift tax. We are open to exploring other lending options or finding a solution to transfer funds without incurring other fees/taxes. Any ideas would be great! Thanks, Andy

Is the money already in the business account for the down payment? If so, the best thing to do is to let it season for over 30 to 60 days. 

A clear operating agreement will also need to be structured for the LLC and since I read the goal being that the relative is not to sign on the loan, they need to be kept at less than a 20% partner.

You will have to go private money I believe on this one. Wish you the best of luck on your hunt. 

Ask around to different lenders. I'm not sure on this but if the down payment is made as a capital contribution to the LLC that may work, the best thing to do is talk to multiple lenders