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re: Is it possible to get a 1 mil real estate loan with 10% down
Posted on 6/22/18 at 5:45 am to Finch
Posted on 6/22/18 at 5:45 am to Finch
Pretty sure the bank will not allow 2 loans for
The bank wants to know where the money is coming from, and I am pretty sure you will sign something saying the dp is not loaned money.
Your $100k needs to be somewhere the bank can see it and proof where it came from. If it is sitting in your safe, they won't accept it.
quote:.
One to cover 100K to make the 20% down and the remainder on the rest of the property.
The bank wants to know where the money is coming from, and I am pretty sure you will sign something saying the dp is not loaned money.
Your $100k needs to be somewhere the bank can see it and proof where it came from. If it is sitting in your safe, they won't accept it.
1
Posted on 6/22/18 at 9:37 pm to MSWebfoot
Depends on the OP personal financial statement. They may allow it to be structured that way as long as they are confident in him and the rest of the net worth, character, income.
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