I am looking for a business investment in real estate (I already have a home). Can I get financing for the down payment? I am not interested in using credit cards, my home equity or family money.
2006-08-31 13:25:23 · 3 answers · asked by Wait a Minute 4 in Business & Finance ➔ Investing
A down payment is usually required in cash. A lender want you to have some ownership in the deal and not be mortgaged 100%
2006-08-31 13:32:41 · answer #1 · answered by Anonymous · 0⤊ 0⤋
No, the whole point of a down payment is that you have the financial resources to put that into the property in cash. A down payment cannot be financed or it is not a downpayment it is just creative financing.
2006-09-01 02:30:29 · answer #2 · answered by OPM 7 · 0⤊ 0⤋
Probably not .. on a second home purchase the banks usually require 20% down. you could do a second mortgage on your first home or refinance and use your equity
2006-08-31 13:49:44 · answer #3 · answered by cinderjo 3 · 2⤊ 0⤋