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down payments

can you take out a second mortgage to cover down payment?
By slussb0303361 from OH Jul 21st 2014
Reply

There are 80/10/10 programs with 10% down, or you can go FHA with 3.5% down and get a family to provide a gift for the 3.5% down payment. There may be some local housing assistance in your area as well. Contact a local loan officer who can go over your options.

Jul 21st 2014

If your looking to purchase another home, and you wish to use the equity in your current home (via a 2nd mortgage) as down payment, then that's absolutely allowed.. so long as you have sufficient income to satisfy the lenders maximum allowable Debt to Income (DTI) ratio, you should be fine.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Jul 21st 2014

i am a lender in OHIO and would be glad to help you. feel free to call 513-602-5498. you can take out a 2nd on a house you currently own. i can help you with conventional, FHA and lines of credit. thanksJennifer Sheil

Jul 22nd 2014

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