Can You Get a Loan for a Down Payment?

– Usually Not Allowed for Mortgages – Most mortgage lenders require down payments to come from your own funds.

– Some Exceptions Exist – Gifts from family or employer programs may be accepted, but not traditional loans.

– Personal Loans May Work Elsewhere – You might use a personal loan for a car or business down payment, depending on the lender.

– May Affect Loan Approval – Borrowing a down payment can raise your debt-to-income ratio and hurt approval chances.

– Lenders Verify Sources – Mortgage lenders check where the down payment money comes from.

– Alternative Help Options – Look for down payment assistance programs or grants if you qualify.

Better to Save Up – Saving your own down payment is safer and strengthens your loan application.