10 Ways to Accumulate Cash For A Down Payment

Looking for that home you've always dreamed of and are wondering where the down payment will come from? Here is a list of 10 possibilities.

Liquidate, or borrow against, assets such as securities or a car.

Borrow against a 401k retirement plan or insurance policy.

Borrow on an unsecured line of credit or charge card, if you can qualify for a loan with the extra debt.

Explore the various city and county down payment assistance programs, if available in your area.

Take a low-point or zero-point loan. It will reduce the amount of your closing costs.

Ask the seller to give owner financing until you can refinance after equity builds in your new home.

Ask the seller to pay for some or all of your non-recurring closing costs.

Get a loan from a friend or relative, if you can qualify for a loan with the extra debt.

Have your parents "gift" money to you which is tax and interest free.

Close escrow late in the month to reduce the pro-ration of interest owed to the lender at closing.

I specialize in helping First Time Buyers. Call or email me today for a no obligation consultation to answer these and any other questions you may have. Tom at 7703126729 or tom@ganorthrealty.com

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