Down payment

4 Replies

You can always put MORE down, but I'll assume you'd like to put down LESS! 

The easiest option is to borrow the downpayment from other sources (401k, friends/family, low interest credit card).  If appropriate, secure that against another property or the subject property (after close) with a second lien.  Get transactional RE attorney to write up any notes, deeds of trust, etc.

The next best alternative is probably to get a cash partner and go in 50/50 or some agreed split owning the property in an entity with a clear operating agreement that spells everything out.  Get attorney and CPA advice.

@Tony Velez  You should be able to get a 15% down option. Also, it depends on the size of the loan. A funny thing happens in commercial lending. The more you borrow the more you can leverage.

Upen Patel, Mortgage Banker

Federal NMLS# 1374243