Updated almost 9 years ago on . Most recent reply
Looking for Investor Friendly Lenders in Pittsburgh
Hey everyone,
My business partner @James Tassone and I are searching for lenders that will allow us to use a family members money for the downpayment. We have one investment property in Pittsburgh that we bought using a conventional mortgage and our own money for the downpayment. Now we are looking to purchase our second property however we currently do not have the money for the downpayment. We are looking at properties around the 50k-100k range but need to see if any lenders will allow us to use money from our families for the down payment. What I've been finding is that lenders that do Fannie/Freddie mortgages do not allow outside funds for the downpayment. Is that going to be standard for all lenders or are there any that may allow us to use outside funds for the downpayment? Any help would be greatly appreciated.