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Please help , Mortgage Loan for Buy home

AK84

Hero Member
Aug 11, 2011
557
4
Hello friends,
i have question regarding applying for Mortgage from Bank. i need some clarity before going to buy home.

for example : i have plan to buy home which total cost $500,000

- 20% down payment to bank $100000 only need $400000
- so bank will consider my down payment as separate on mortgage loan and i only need 400,000 from bank right?

OR bank will give consider my current salary and can give mortgage loan according ?

Please share your experience

AK84
 
Last edited:

steaky

VIP Member
Nov 11, 2008
9,251
538
Job Offer........
Pre-Assessed..
Hello friends,
i have question regarding applying for Mortgage from Bank. i need some clarity before going to buy home.

for example : i have plan to buy home which total cost $500,000

- 20% downtown to bank $100000 only need $400000
- so bank will consider my downtown as separate on mortgage loan and i only need 400,000 from bank right?

OR bank will give consider my current salary and can give mortgage loan according ?

Please share your experience

AK84
Should be down payment instead of downtown?
 

steaky

VIP Member
Nov 11, 2008
9,251
538
Job Offer........
Pre-Assessed..
You need to pass the stress test. The bank or mortgage broker will assess your information provided and you might need to pay more down payment to secure the mortgage. Contact the broker or bank for more details how much you can afford before you proceed with your buying.
 

FM007

Member
Jul 25, 2017
14
3
Hello friends,
i have question regarding applying for Mortgage from Bank. i need some clarity before going to buy home.

for example : i have plan to buy home which total cost $500,000

- 20% down payment to bank $100000 only need $400000
- so bank will consider my down payment as separate on mortgage loan and i only need 400,000 from bank right?

OR bank will give consider my current salary and can give mortgage loan according ?

Please share your experience

AK84
HI have you received help or let me know I can guide you
 

maxowen

Full Member
Mar 6, 2019
24
2
Hello friends,
i have question regarding applying for Mortgage from Bank. i need some clarity before going to buy home.

for example : i have plan to buy home which total cost $500,000

- 20% down payment to bank $100000 only need $400000
- so bank will consider my down payment as separate on mortgage loan and i only need 400,000 from bank right?

OR bank will give consider my current salary and can give mortgage loan according ?

Please share your experience

AK84
Where city are you in ?