If i agree with my friend and we split closing costs 50-50, could I own 50% of the house and can my friend still get primary residence conventional loan with 10-15% downpayment?
Please note that I cannot get any primary residence loan since I'm already using one and it hasn't been 1 year since I've closed on my property.
Real Estate Agent · Denver, CO · Member since 2019 · 161 posts · 176 votes
4y
@Sarp Ka I believe the best way to do this would be to stay off title and have a separate operating agreement with this partner, though I am not a lender and this is not lending advice. Would love to know what a lender would say on this…