meamemg t1_jegz6nw wrote on March 31, 2023 at 11:10 PM

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

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

chubbs79 OP t1_jegze78 wrote on March 31, 2023 at 11:12 PM

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?

meamemg t1_jegzg6y wrote on March 31, 2023 at 11:12 PM

Maybe. What information are you trying not to disclose?

meamemg t1_jegziod wrote on March 31, 2023 at 11:13 PM

You could also try a margin loan against your investments.

chubbs79 OP t1_jeh0i8g wrote on March 31, 2023 at 11:20 PM

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?

Joseots t1_jegzjyi wrote on March 31, 2023 at 11:13 PM

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

meamemg t1_jegzz5n wrote on March 31, 2023 at 11:16 PM

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.