Updated over 3 years ago on . Most recent reply
Which banks accept gift downpayment for an investment property
I live out of state, but I want to purchase a multifamily home in Ohio as a rental property.
My brother wants to gift me the majority of the down payment, and he plans to be on the title with me, but I am having a hard time finding a bank that will accept a gift as a down payment for a loan on a rental/investment property.
My brother doesn't want to be on the loan because he is currently getting another loan for a different property he is purchasing.
Does anyone know of a bank in Ohio that would accept a gift for a downpayment for a loan on a rental property?