Updated about 8 years ago on . Most recent reply
Getting a loan for a down payment
Is it a bad idea to get a loan to use as a down payment or are there better ways to get financing for a down payment?
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Tom S.
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Tom S.#2 Real Estate Agent Contributor
#2 Real Estate Agent Contributor
- Real Estate Investor
- Burlington, VT
@Michael Madoian You can't use borrowed funds for the downpayment for conventional financing. Lenders want "skin in the game". In general, they're also going to want to see cash reserves in addition to the downpayment.