Is it possible to get a private loan for a down payment for a house?
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I would like to get a loan for a down payment for mortgage. I do not have great credit but I also do not want it to appear on my credit report due to the fact of my mortgage application.
Is it possible to get a private loan for a down payment for a house?Yes it is possible. You might want to check into this > http://www.prosper.com/referrals/all.asp...
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Is it possible to get a private loan for a down payment for a house?You can if you know someone who is willing to loan you money. You have to report where the money came from when you go through escrow to the mortgage loan company on your house and to the state (in most states), if the money is not held in an account by you for a length of time deemed appropriate by the lender. My husband and I got the money for the down payment of our house by his parents as a loan and we had to have them write a letter telling the lender on our mortgage from the bank that it was a gift. Ask your lender or Real Estate agent how to go about it.
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