Obtaining a mortgage loan without a down payment Louisiane

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Calculation example: with a loan amount of USD 100,000 at 10% per annum, for a period of 1 year, the total amount to be repaid will be equal to: USD 105,499.06, with a monthly payment: USD 8791.59. The consequences of not paying the loan are regulated by the legislation of USA.

    Getting a mortgage without a down payment

    A mortgage is a way to buy a home on credit secured by real estate at the expense of borrowed funds from a bank.

    In order for the bank to agree to issue such a loan, the client must provide a guarantee of his solvency - provide proof of income and deposit a certain amount from his own funds as a down payment.

    Consumer credit.

    If you don't have enough equity to pay off your mortgage, you can use borrowed funds, such as a consumer loan, for no particular purpose. The money received on the loan is used to pay off the first installment - this allows you to get a mortgage on standard terms without overcharging.

    Borrowed money.

    In order not to incur obligations to repay a second loan and not overload your credit history, you can borrow money, but not from a credit institution, but from your relatives or friends. In this case, you will not have to pay interest for using the money, so the financial burden will be somewhat less compared to a consumer loan.