Posted on: 14th Jul, 2009 10:40 am
I want to purchase a manufacturedhome but would need 10% or 10,000 down. Would I be able to borrow the down payment from a bank?
please specify your location.
Also do enquiry to local lenders that will help you.
Also do enquiry to local lenders that will help you.
To Mary,
You won't be able to borrow the money from a bank. You're not allowed to borrow money to make a down payment on a loan. You need to come with the money either from your own source or as a gift from any of your friends or relatives. Have you tried to get an FHA loan? FHA requires you to put down only 3.5% of the purchase price of the home.
You won't be able to borrow the money from a bank. You're not allowed to borrow money to make a down payment on a loan. You need to come with the money either from your own source or as a gift from any of your friends or relatives. Have you tried to get an FHA loan? FHA requires you to put down only 3.5% of the purchase price of the home.