Click To View Links

Dont have my down payment

by Michelle
(Washington)



I recently made an offer on a new home, it was accepted and the house is a month away from completion. I have had some car problems and other unforeseen expenses. I recently received my loan payments and found out that I will need about $9800 for a down payment.

I had originally figured it would be about $9000 but I put $1000 in earnest money so I thought I would only need to bring about $8000 to the table. I do not have the $9800, what do I do if I can not come up with the entire down payment?

=====ANSWER=====

Hello Michelle,

Thank you for coming by my site.

You do have a situation here. You may want to act very fast to make sure you do not loose the chance to buy the home and your earnest money deposit.

Not knowing exactly what kind of loan you have applied for, if it's an FHA I would go to family and ask them to help. They can gift you money for a down payment.

Again, if it's an FHA loan, you could look for some down payment assistance,and try to get this into the deal right away.

Please discuss this matter with your Realtor and Loan Officer right away.

Hope this helps,

Regards,

Jeff Ragan

Click here to post comments

Return to Mortgage Questions.

New Jersey Grants

Click on Image to Learn More

South Carolina Grants

Click on Image to Learn More

Recent Articles

  1. Maryland First Time Home Buyer Grants | Programs | Down Payment Assistance

    May 20, 17 06:24 PM

    Digging for Maryland first time home buyer grants to buy a home? Find the best grants, programs for home buying in Maryland and other down payment assistance available to you.

    Read More

  2. Home Buying Help - Your Personal Coach

    May 20, 17 06:13 PM

    Searching for home buying help? Discover here how to request your own personal assistant to navigate the home buying process.

    Read More

  3. Home Mortgage Information

    May 15, 17 05:22 PM

    Rifling through tons of home mortgage information? Want to understand programs such as FHA, VA loans, and zero down options for home buying? This page will help you become a knowledgeable buyer.

    Read More

Buyer Programs

fha loans

The FHA Loan Products

Home Buyer Grants

zero down home loans

Zero Down Home Loans


Follow Us On Twitter

follow me on twitter