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.

Recent Articles

  1. VA Loan Requirements

    Feb 19, 19 06:59 AM

    Learn VA loan requirements for a mortgage and other info regarding VA loans.

    Read More

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

    Feb 18, 19 05:00 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

  3. Lack of Credit History

    Feb 18, 19 02:08 PM

    What can I do if I only have one credit score or none at all? Or lacking debt history? Find the answers on this page.

    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