This is probably a silly question but could I take out a personal loan ,for instance from lending club, to cover the money an HML won't cover?
So, down payment fora Conventional/FHA/VA/USDA loan can't be from an unsecured loan. I've used down payment coming from the (improbable) cash-out refinance on a car. Certainly a home equity loan or line of credit. But I don't know a bank or broker who will allow down payment from an unsecured source (including credit cards, personal loans).
Hard money and private money may be different. Does this help?
For hard money yes. As long as you have the funds in the account we will typically not need them to be seasoned or care about the source. I know people will get a LOC for down payment all the time.
That is fantastic information guys. Thank you.