Forgotten Your Password?

Need to Register?

Question Icon

Can I borrow money from bank for down payment fha loan?

by james_lully730 from Fontana, California. Feb 25th 2015 Reply


Linda Wintersteen (Linda123)
#64 ranked lender in Arizona - 1,250 contributions

i might have a way for you linda yourloanpartnerforlife.com

Feb 26th 2015
1
0
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,446 contributions

Technically yes... But there are special rules. Contact a local FHA lender in your area. Give them a full application and let them know what you are thinking.

Feb 26th 2015
1
0
Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,224 contributions

Yes, it is possible but there are restrictions on how it is done. An experienced mortgage lender can walk you through what is allowed.

Feb 26th 2015
1
0
William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

FHA rules say that your not allowed to "Borrow" funds for a down payment.. it's an automatic decline.. however, if you borrow funds for any other reason and those funds are in your account for 60 to 90 days or more (seasoning), and the payment for the loan is reflected on your credit report, then you should be Ok.. Example:.. you have a car paid for, but you take out a loan against it, and deposit those funds into your account.. this would be acceptable.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Feb 26th 2015
1
0
Linda Thompson (LoansbyLinda)
#825 ranked lender in California - 32 contributions

Hi James,There are ways to do this....I do quite a few FHA loans. I am in California as well. Give me a call and we can discuss your options.Linda 510-332-3282

Mar 4th 2015
0
0
Subscribe to our news feed.