What should I do if I don t have enough down payment to buy a house? 9 ways to help you make it!

If you can't get enough money for the down payment, we recommend the following.

1. Find your spouse and parents to apply together, and both parties will pool money together to make a down payment; 2. Find relatives and friends around you to borrow money, let the other party transfer the funds to your own card, and then pay the developer yourself; 3. Choose a room type with a price that is more suitable for you.

After the down payment problem is solved, the rest of the mortgage application will be easy, prepare the ID card, local household registration book or temporary residence permit, the purchase contract signed with the developer, the down payment receipt, and the proof of economic income to go to the bank branch to apply for a loan.

As long as you can ensure good credit and have the ability to repay the principal and interest of the loan on time, the mortgage can generally be approved smoothly.

If the online loan itself is non-compliant, then this type of online loan overdue will have no impact on your personal credit status, but the online loan record will remain in the online loan big data. Search: Balloon check, check your online loan history, online loan overdue details, debt status, dishonesty information, online loan blacklist and other information.

Extended Information: Can I Get a Loan for a Down Payment on a Purchase?

You can't take out a loan for a down payment on a home.

1. The bank will inquire about the down payment funds at the time of approval**, and it must be paid with its own funds.

2. If the bank finds that the down payment for buying a house is paid by a loan, the bank may think that the economy is average, and worry about the lack of repayment ability, which is likely to affect the subsequent mortgage approval, and may refuse to approve the loan.

Insufficient down payment when buying a house is a very headache, so how can buyers achieve their home purchase plan when faced with insufficient down payment? In fact, I think you can try to use the following methods to solve the problem of insufficient down payment.

Resolution. 1. Withdrawal of provident fund.

Nowadays, many companies will pay housing provident fund to employees, if you have a provident fund, then you must make good use of it. Many cities support the withdrawal of CPF for a down payment, which can completely solve the problem of insufficient down payment.

Resolution. 2. Mortgage the old house.

Mortgaging an old house to get a loan for a down payment is a common way, but only if you own a home. This method can obtain a larger amount of loans, but it is very stressful to take on two loans at the same time, and the mortgage loan interest rate is higher, and the loan term will be shorter.

Resolution. 3. Use a credit card.

If the gap for the down payment is not large and it is not used for a long time, then a credit card can be used. However, it's best to use a credit card with a high limit and not multiple credit cards with a low limit, as it can easily be considered cash-out. Some banks do not support the purchase of a house by credit card to repay in installments, which needs to be noted.

If you can't repay the loan on time, it is still not recommended to use this method, otherwise it will affect your personal credit report.

Resolution. 4. Apply for credit loans reasonably.

If the borrower has good personal credit, high income and repayment ability, then you can apply for a personal line of credit to make up for the lack of down payment.

Resolution. 5. Those who have insurance can apply for policy loans.

Now that people are more aware of risk prevention, many people have purchased insurance. But what most people don't know is that some insurance policies can be used for loans, but with a shorter loan term.

Resolution. 6. Seek parental support.

If your parents are in good financial condition and have a spare amount of money that you don't use for the time being, you can ask your parents for help. But everyone should remember that parents are only helping and not taking things for granted, so they should be returned to their parents when they have enough money and thanked them.

Resolution. 7. Seek help from relatives and friends.

If you have a good relationship with friends and family, consider borrowing money from them. However, when borrowing money from relatives and friends, you should measure the financial situation of the other party, sign a formal IOU, and remember to repay the loan when you have enough money, so as to avoid disputes and affect the relationship between relatives and friends.

Resolution. 8. Realize the wealth management products held by individuals.

If you have purchased some financial products in normal times, you may wish to use these cash to offset the down payment. Although it is possible to lose some of the revenue by cashing out in a hurry, it is also an effective way to do so if you really can't borrow money.

In addition to **, you can also choose to mortgage it, which can be a better way to monetize, especially if you have a large amount of wealth management products held by individuals.

Solve the formula liquid sales method.

9. Lower the standard for buying a house.

If the house price is out of budget and the pressure will increase after the handover, you can lower the standard of buying a house and consider buying a small apartment or a house in a more remote area.

Although most people buy a house nowadays with a down payment of 3 to 60 percent, some people will choose to pay more in order to save interest. The proportion of the down payment is also determined according to your ability, but what if the house you choose is expensive and the down payment is not enough? Try these things.

Although most people buy a house nowadays with a down payment of 3 to 60 percent, some people will choose to pay more in order to save interest. The proportion of the down payment is also determined according to your ability, but what if the house you choose is expensive and the down payment is not enough? Try these things.

1. What should I do if the down payment is not enough?

1. Make good use of the provident fund

If the buyer is paying the housing provident fund, then you must make good use of the housing provident fund, you can first borrow the down payment to buy a house, and then withdraw the balance in the provident fund account to repay the loan.

2. Mortgage the old house

If the buyer is not buying the first home, but also other properties, then the buyer can mortgage the previously purchased house to obtain a certain loan, which can then be used to pay the down payment. In this way, you can get a relatively large amount of loans, but the buyer needs to take two loans at the same time, which is very stressful, and the mortgage loan interest rate is higher, and the loan term will be shortened. Note:

The mortgaged house is not too old.

3. Seek parental support

Although I don't approve of everyone gnawing at the old, if it is a family with good economic conditions, and the buyer just lacks a part of the down payment when buying a house, then you can also ask your parents for funding, but when you seek funding from your parents, you should return it to your parents when you have enough funds and thank them.

4. Seek help from relatives and friends

Everyone will have a few good friends and relatives in their life, and buyers can consider asking them for help when they are short of funds. However, borrowing money from relatives and friends should be based on the other party's financial situation, and sign a formal IOU, and remember to repay the loan when you have enough money, so as to avoid disputes and affect the relationship between relatives and friends.

5. Realize the wealth management products held by individuals

For buyers with financial habits, when there is a lack of down payment, they can mortgage financial products to cash, and then use them to pay for the down payment.

6. Re-select the room

If none of the above methods can solve the needs of the buyer, or the buyer chooses a house with a down payment that is too much, then the buyer can only consider buying a smaller house, or a slightly more remote location, and there is no need to put the family under pressure for a home.