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If the lender allows.
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∙ 15y ago
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What is the down payment?
Down payment (or downpayment) is a payment (Paid on the Ground) used in the context of the purchase of expensive items such as a car and a house, whereby payment is the initial upfront portion of the total amount due and it is usually given in cash at the time of finalizing the transaction.
Can a private family loan on a lot that is not paid off be used as a down payment for a new home mortgage?
No, a loan can not be used as a down payment.
What are zero down home loans used for?
A zero down home loan is used to purchase a house with no down payment. This has advantages and disadvantages. It allows you to spend the money you would otherwise use as a down payment on repairs and renovations, or save it as a safety net in case of emergency repairs or other unexpected bills. However, interest rates on zero down homes are higher and you are required to carry PMI (Private Mortgage Insurance), which can significantly raise your monthly mortgage payment.
What is the typical down payment on a used car?
$20
How do you get your down payment back on foreclosed property?
Your down payment was used to purchase the property and was paid directly to the seller. You don't get it back.
What does the down payment on a used car pay for?
It is applied directly against the purchase price of the used car. The more you down payment, the less owed and the lower your monthly payments will be.
Can the equity be used as a down payment?
Equity can only be used as a down payment in limited cases. Close relatives are able to "gift" equity in a purchase, thus eliminating the need for the buyer to bring cash. E.g. A Mother can sell her son a house worth $100k for $80k buy having a purchase price of $100k with a gift of equity of $20K. This in effect is a down payment. Without doing this it would essentially lower the market value of the house to $80K. The appraised value or market value of a house is its purchase price. The argument is that if it was worth anymore it would have sold for that price. So in most cases there can't be equity in the house when purchased because its value is what you paid for it. A second example of where equity can be used to "purchase" a house is with a Land Contract. Technically the house is purchased at the signing of the land contract, however no loan is put in the name of the buyer. After a year or more if the house appraises for more than the agreed land contract price. When the buyer takes out a loan on the property. The "equity" in the property belongs to him and in effect is his down payment.
Daphene bought a used car for 9200 She made a down payment of 1840 Find the percent of the purchase price that is the down payment?
the answer would be 20%,you would divide 1840 by 9200
You signed a contract for a used car the car dealer still has the car you have not given your down payment can you get out?
I THINK SO. THE CONTRACT HASN'T BEEN COMPLETED UNTIL THE DOWN PAYMENT IS MADE. HE'LL PROBABLY VOID THE CONTRACT FOR FAILURE OF PAYMENT.
How do I get help to buy a house in Utah?
For many first-time homeowners, the biggest hurdle in buying a house in Utah is affording the required down payment. Over the years, down payment assistance programs and first-time home buyers grants in Utah have been developed to help buyers afford the buy-in. These can come in multiple types, including: Grants. Some government programs, and even private entities, may be willing to offer outright gifts of financial assistance that don't require repayment. However, requirements to qualify are usually strict.Low-interest loans. Some buyers may qualify for down payment loans, which are handled separately from their main mortgage. These allow buyers to pay off their initial down payment and closing costs over the course of 5-10 years.Zero-interest forgivable loans. These loans are often used to encourage migration to a specific area, offering a loan that is forgiven if the owner stays in the house for a specific amount of time.Zero-interest deferred-payment loans. These loans are typically not repaid until the house is resold and are often utilized by those "flipping" houses. Home Savings Fund wants to help with first-time home buyer grants and information in Utah. Contact their team today to get started.
Which house plant is the best to give at a house warming party?
This is my opinion and not a fact, but one of the best house warming gifts would have to be an aloe plant. This plant needs littles to no sunlight and can be used for sunburns.
In British Columbia can you return a used car?
can u return a used car in BC n get ur down payment back
