All Forum Posts by: Anita Verma

Thanks @Jerry W.! Did you use a local lender for these deals? 

Thank you Jon, that is very helpful!

@Jon HoldmanI see we are neighbors! Do you know of any Denver-area lenders who are open to creative financing agreements such as this? I have not worked with any portfolio lenders before.

Lenders who sell the loans on the secondary market don't allow this, right? Are there any lenders who would allow this for a single family investment property?

Is there am above-board way to have a seller carry a second mortgage on a home?

If you hold the money from the investor for 2 months prior to going under contract, then you are fine. The lender only asks for the past 2 months of bank statements, he doesn't ask for the source of money in your accounts prior to this. This is what my lender told me. I am talking about loans that get sold on the secondary market, portfolio lenders have their own rules.

Hi everyone,

I am buying a property as a second home, using a second home loan that requires 10% down. Let's say that after I buy that property, I decide to convert it into a rental, and I want to buy a different second home in the same area. Can I get another second home loan in that area? I do not want to get an investor loan and put 25% down.

Thanks!