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Based on income & how many borrowers. You should qualify before starting shopping.

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15y ago

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What is a down payment on a house?

Most people borrow money from a bank when they want to buy a house, but they usually do not borrow 100% of the cost of the house. They usually do have some money to apply toward the cost of the house, and that amount is called a down payment. So to buy a house costing $200,000 a person might make a down payment of $50,000 and then borrow the remaining $150,000.


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Can I borrow from my IRA for a house downpayment?

Yes, you can borrow from your IRA for a house downpayment, but there are specific rules and limitations to follow.


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