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I infer from the wording of your question that you wish to borrow the money for the down payment on a house other than your primary residence. This is a big no-no. It doesn't matter what bank you go to. A down payment is supposed to be the loan-seeker's financial stake in a purchase. There are supposed to be no strings -- that is, liens -- attached to it.

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โˆ™ 2007-02-23 22:59:56
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Mortgages

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When buying a house can you get a larger house loan so you can pay off some of your credit cards and car

How long do you have to wait in Canada before purchasing a house after bankruptcy

What is a mortgage lien

Is home owners insurance required

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Q: How do you get a deposit for a house when you have a mortgage with the same bank?
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Related questions

Which bank is best to get a mortgage?

Mostleaders/banks have the same products, your ability to get a mortgage loan will be hinged on your credit score and your ability to purchase a house.


Is a re mortgage the same thing as a mortgage?

No, a mortgage is a loan taken from a bank to purchase land or property. A remortgage is a loan taken from a bank to pay off an existing mortgage. This is done in an attempt to lower the amount of interest paid to the bank, and should not be confused with a second mortgage.


Is state bank of India state bank of hyerabad state bank of mysore banks are same we can deposit the amount from state bank of hyerabad to state bank of India?

No We cannot deposit directly into the accounts of the different state banks.


Is bank account an a bank deposit account the same?

No. A bank account can be a checking or savings. It is the account in your name where you deposit and withdrawl funds from. A bank deposit is when you put money into the account either by you walking into the bank and handing them cash or a check and the bank teller processes it to be put into your account. They are two different things but they are related.


What is a bank certificates of deposit called a time deposit?

time deposit means payable at specified time same is the case with bank deposit ie. fixed deposit that is payable after certain period means not less than 7 days to earn interest so fds are called as time deposit


If you have zero balance account in PNB branch can you deposit money in any other branch in same bank?

yes you can deposit money in any other branch of pnb bank.


Is the fixed deposit and term deposit same?

Yes. Fixed Deposit and Term Deposit both refer to the same thing. A deposit account is one in which you keep a fixed sum of money for a specific duration (Usually atleast a few months) based on an agreement with the bank. The bank does not expect you to withdraw funds regularly from this account and hence gives you a better interest rate.


Are banks allowed to foreclose on houses?

Yes they are allowed too if they own the mortgage because in reality the house is owned by the bank until the principle is paid for. It is almost the same thing as renting or leasing except the house is in your name. In this case the bank is the landlord. Check this article about FDIC pays bank to foreclosed.


Can a bank wire transfer be reversed?

It Depends. Yes - If the transaction is currently in progress and deposit instructions are not yet sent to the receiving bank No - If the transaction is completed or if deposit instructions are already sent to the receiving bank and the receiving bank has already acknowledged the receipt of the same


Is a quitclaim deed the same as a mortgage deed?

No. A quitclaim deed transfers the property to a new owner permanently.A mortgage deed is a conditional deed that transfers title to the bank only until the mortgage is paid and then the bank must release its interest.No. A quitclaim deed transfers the property to a new owner permanently.A mortgage deed is a conditional deed that transfers title to the bank only until the mortgage is paid and then the bank must release its interest.No. A quitclaim deed transfers the property to a new owner permanently.A mortgage deed is a conditional deed that transfers title to the bank only until the mortgage is paid and then the bank must release its interest.No. A quitclaim deed transfers the property to a new owner permanently.A mortgage deed is a conditional deed that transfers title to the bank only until the mortgage is paid and then the bank must release its interest.


How do you withdraw money from a demand draft?

f I got your question right then a DD has been issued from bank XYZ in your name and you want to deposit it in ABC. I don't see a problem in this. If the DD only has your name on it you can deposit it in any bank where you have an account. While if the DD has your bank & account details printed along with your name then you have to deposit it in the same bank as mentioned in the DD.


If a bank refinances a first mortgage and there is a second mortgage on the property who does the first mortgage belong too?

The new bank in which the refinance mortgage loan has been taken from becomes the new owner of the first mortgage at the closing table. As for the second mortgage, the second mortgage holder remains the same. Before the first mortgage can close with the new lender, however, they must agree to re-subordinate the second mortgage along with their new one. It is not uncommon. I hope this information helps. Best of luck! Regards, Total Mortgage Services

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