Can you roll your down payment into your mortgage loan? Equity of $40k?

Deal Score0
5 Comments
  1. Reply
    src50
    May 21, 2011 at 3:26 am

    There are no more “zero down” loans now. What do you mean “Equity of $ 40K”?

  2. Reply
    tkahrs12122
    May 21, 2011 at 3:28 am

    No. this is one of the causes of the mortgage mess. Mortgage companies want the buyer to have something invested in the house.
    that way you are not to quick to let it go to foreclosure.

  3. Reply
    elmo o
    May 21, 2011 at 4:19 am

    this is a vague question, so i will answer what i think you are asking.
    the house you want is 200k. you put down 40k for a loan of 160k.

    if you have a house with 40k in appreciation, you may be able to borrow some of that equity.

    go to my profile and write for more specific answers

  4. Reply
    WA Loanlady
    May 21, 2011 at 4:26 am

    Your question is very vague. If you are asking if you can use the equity the current owner has in the property because you are purchasing it at a discounted price then the answer is no, Unless you are buying from a relative the owner cannot “give” you equity as a down payment. The numbers are calculated using the lesser of the purchase price or appraised value.

  5. Reply
    godged
    May 21, 2011 at 5:16 am

    No, you can’t. You have to bring something to the table.

    Leave a reply

    Register New Account
    Reset Password