ANSWERS: 3
  • The mortgage company always looks to see if borrowed money is being used for a downpayment. You could do it though you might be turned down by the mortgage company. If you are creative it can be done :)
  • Do you mean....can you borrow money from a friend/bank to use for the downpayment on a house? yes you can. instead of one mortage payment, you will have another payment to your friend/bank. the bank will inquire the purpose for the loan and may classify your loan as a second mortgage. this could be expensive. ask lots of questions.
  • As stated in the other answers it can be done. If you need downpayment assistance, you could contact someplace like rural housing development. They often times have downpayment assistance programs. If you are not sure if your town/city has anything like this, ask your realtor.

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