Updated over 6 years ago on . Most recent reply
Hard money loan for down payment ?
Can you get a hard money loan just for a down payment and if so, is it wise to do so? It would be my first rental property.
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
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HML's do Not loan money for down payments....that would put them with a 2nd position mtg, which they wouldn't do, the primary mtg will require a 1st position.
Down payment either comes from you, or a partner.