equity loans

Hello everyone. I have a question regarding equity loans. My brother has a property that he has just paid off via equity from other investment properties. He wants to dollar deed the property to me and have me refinance it and take out an equity loan on the property. This way, I can give him his profit and it won’t look as if he made a huge gain on it.
Anyway, my questions are these:
Can you find an equity loan product or a refinance product that is amortized over 30 years? And how do the rates compare to the rates that you can get with a regular morgage?
Thank you for all your input in advance

Basically your brother has a paid off home. He is planning on deeding the property to you and you will refi the home in your name not his. Pay him the profits (so you must have an agreed upon purchase price below FMV) and you keep the rest.

If this is what your doing, it is illegal if I can correct and somehow you or your brother will get taxed on this deal. Especially if your refi the property right away. You can probably slide if you hold the property for 12months or more to have the title seasoned.

Now you can always refi the home for 30yr, thats never a problem…But you better tell the broker what your planning on doing because of the title.

Why doesnt your brother just refi the home, pull out the amount of equity he wants and then you buy the home for the loan amount, this why he has no capital gains. You pay no taxes on the money you pull out when refinancing a home.

That is great advice rush. Remember Jaydee tax evasion is how they got Al Capone.

Hey there. Appreciate the advice. Maybe that is a better way to do it. I have to ask though, how is that tax evasion?
Thank you,

Some people including the gov’t can consider deeding over a paid off home to someone else, and then refi the property to grab the equity out as a form of tax invasion. Basically your brother will be gifting the house to you in some ways and no one is planning on paying a gift tax here. But still when you give your brother money after refi is done he will have to pay taxes on the money since your giving it to him. Its a touchy subject and best left to the accountants…