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Please help , Mortgage Loan for Buy home

Discussion in 'Housing' started by AK84, Feb 14, 2019.

  1. #1 AK84, Feb 14, 2019 at 12:21 PM
    Last edited: Feb 14, 2019
    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

  2. Should be down payment instead of downtown?
  3. Thanks
  4. 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.
  5. HI have you received help or let me know I can guide you
  6. NO
  7. If mortgage broker or bank cannot help you to secure mortgage, there are private lenders who may be able to help. You probably have to pay a higher interest.
  8. Where city are you in ?

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