Posted on: 22nd Oct, 2013 02:24 am
Will I be able to borrow money against my car title and use it as down payment for FHA loans?
Hi Guest,
The down payment should come from your savings. It should not be a loan from any source. So, I don't think you will be able to borrow money against the car title for FHA loans.
Take care
The down payment should come from your savings. It should not be a loan from any source. So, I don't think you will be able to borrow money against the car title for FHA loans.
Take care
Mortgage guidelines allow for borrowing money as long as the money is borrowed against a secured asset.
A car is a secured asset, so, that is OK
A car is a secured asset, so, that is OK
