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mc8 · Joined: 08 May 2009 Posts: 11 5.70 Dollars($)

I have found a great piece of property, the Real Estate it is listed with says "If you paid $10,000 your monthly payments will be $234." My question is: Is it possible to take out a personal loan for say $10 or $15,000, pay the downpayment of $10,000 and use the rest toward monthly payments or insurance or whatever...?

Or is it necessary to get a full loan for property?

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

mc8

You can absoutley do that. No restriction on what kidn of loan you take.

But you may not be able to deduct the interest on the loan, when you take personal loan

Good luck and feel free to ask

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Downpayment/personal loan inquiry