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Updated over 1 year ago on . Most recent reply

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Mike Schorah
  • Rental Property Investor
190
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422
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What percent of lenders would allow borrowed funds for a borrowers down payment?

Mike Schorah
  • Rental Property Investor
Posted

I was reading that it’s not exclusively forbidden.

Specifically referring to Pace Morby’s Gator Lending, for a sub to deal for instance

Most Popular Reply

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John O'Leary
  • Lender
  • Winter Park, FL
406
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721
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John O'Leary
  • Lender
  • Winter Park, FL
Replied

Hey @Mike Schorah,

It depends on the type of financing you're looking for. If you are using Hard Money for a bridge loan, or a DSCR product gifted funds are ok. You might need to source a large deposit (over $10K) with an LOE, but funds can be gifted.

  • John O'Leary
  • [email protected]
  • 800-663-4122
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