What kind of loan should i get if I want to get money for a down payment on an apartment or money for a house?

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What kind of loan should i get if I want to get money for a down payment on an apartment or money for a house?

2006-08-04 20:29:08 · 3 answers · asked by rachael 1 in Business & Finance ➔ Personal Finance

3 answers

Lots of info here.

2006-08-05 00:42:29 · answer #1 · answered by Anonymous · 0⤊ 0⤋

It's actually pretty hard to borrow for a down, it used to be illegal. Your best bet is to tell the first bank that you need money to pay cash of a car, and if you have good enough credit for a signature loan, then you could use that as a down on a house. It might still be illegal in some states, not sure there.

2006-08-05 03:35:20 · answer #2 · answered by Anonymous · 0⤊ 0⤋

Many mortgage brokers and banks offer an 80/20 mortgage. It's really two mortgages, but since neither goes over the 80% limit, you don't have to pay PMI and you can finance the entire purchase.

2006-08-05 10:09:20 · answer #3 · answered by homeschoolmom 5 · 0⤊ 0⤋