With hard money lenders normally they don't care where the money comes from. As long as it can be verified it's OK. You can borrow from your parents or use a down payment asst. program. However, you will need equity and a cooperative seller to use the DPA program. So if the property is bank owned, the DPA will not work. I hope this helps.
James J. Bullock
JDB Financial LLC
678 383 8438 Direct
800 482 4921 Office
248 579 0053 Fax
Private/Hard Money (Residential & Commercial)
Your parents would be the best bet.
The VERY BEST thing top do is contact a direct lender (not a mortgage broker) and they will tell you everything you need to do in order to get it done.
They will give you a max price based on what you can afford and assist with all of the ins and outs of a gift letter.
If you do not know a lender, or lenders, ask your friends and family first. If that fails, we would supply you with a cople of names.
Mark and Kari Shea
San Diego Real Estate Experts
Foreclosure & Investment Specialists,
Development Opportunities & Traditional Real Estate