Thursday, May 21, 2015
Can I get a loan to pay a downpayment on a mortgage?
Okay, basically my idea was to… Get a student loan… Because yes I'm in college… BUT with the money use it for a downpayment on a cheap 4plex to rent it out. If I fail, yes I can pay the mortgage on what I'm looking to get because I also do work. Just can't save up the downpayment in the amount of time I want because I need the cashflow by the end of the year and haven't been able to sell any real estate which is what I planned to do to get my downpayment… Anyways I have good credit, decent income but I don't know how a lender would look at this… Im kind of just rambling now. Hopefully Ill have some decent answers.
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