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chubbs79 OP t1_jegyejk wrote

Reply to comment by UnsurprisingPun in How to get a simple home loan? by chubbs79

Is there anyway to accomplish what we're trying to do?

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Joseots t1_jegyldb wrote

Pay all cash. That’s the only way.

If you involve the bank, they want ALL your information. No way around it.

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chubbs79 OP t1_jegz3zd wrote

I guess you're right, no other way around it. I appreciate it.

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UnsurprisingPun t1_jegyqbs wrote

Go to a bank. Tell them everything they ask. Provide a boat load of documentation, and they’ll loan you whatever you want.

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chubbs79 OP t1_jegyxqq wrote

thanks for the very useful information.

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meamemg t1_jegz6nw wrote

You could get a personal loan rather than a mortgage. But the interest rate will be much higher.

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chubbs79 OP t1_jegze78 wrote

I thought about that, and I'm sure the term would be much shorter. Would I still need the same information for a personal loan though?

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meamemg t1_jegzg6y wrote

Maybe. What information are you trying not to disclose?

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meamemg t1_jegziod wrote

You could also try a margin loan against your investments.

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chubbs79 OP t1_jeh0i8g wrote

That is a very good idea! That is even simpler than trying for a personal loan. It's not that im not trying to disclose anything, I just want to make this a simple process without having to go through the song an dance with a mortgage company. ya know?

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Joseots t1_jegzjyi wrote

Bank is still going to want his personal info to issue a 100k personal loan. Doesn’t help OPs situation

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meamemg t1_jegzz5n wrote

Depends on exactly what they are trying to avoid disclosing. If it is the source of the $50k for the other half, for example, the bank probably doesn't care about that.

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