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Home Purchase Mortgage

Author: The Mortgage Girl |

Are you wanting to purchase a home but are having a hard time saving the down payment? If you have room in your ratios (income vs. debts) you may be able to borrow all or part of the minimum 5% down payment from a credit card, personal line of credit or a personal loan. This is called a Flex Down Mortgage. One thing to keep in mind with this option is that, along with your new mortgage payment, you`ll also have another additional monthly payment to pay off the total borrowed funds.