Hi, I would need a bit more information to answer your question accurately. But usually if you are pre qualified and then you find a home and the loan becomes active and you make payments on that loan depending on your agreement with the lenders, you usually have to come up with any $$ that you are putting down. You really should speak with a reputable lender. I hope that helps.
If you get a loan for a property you will make payments to the bank in the same manner you would for your car loan. You are not able to get a loan for the down payment. You can get a gift from a family memeber or friends in some cases and there are some loan programs in some qualified areas that do not require a down payment. I would recommend you talking with a loan officer in your area to answer most of your questions.
A down payment loan? Many of those types of programs have gone away. For instance, FHA requires 3.5% down and while that can be gifted to you with proper documentation, A "loan" that has to be paid back would not work. For a regular mortgage, as long as you stay current on your payments, you would just pay out the loan over the term you agreed to.
I think I need a little more info for the question but can answer a bit of it. Most often times, if the downpayment is borrowed, that isn't a good thing. There is more to it though. A lender is going to want to make sure that you aren't living paycheck to paycheck. That is why we ask for reserves. No matter what, in a foreclosure, everybody loses. Even though credit has tightened, there are many programs out there that can get you into the home that you want.
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