Can I really borrow funds to use towards my down payment on my mortgage?

Yes, you can borrow funds to use as your down payment! However, the loan must be secured by an asset that you already own, such as your 401(K), life insurance policy or another home.

If you are planning on obtaining a loan, make sure to include the details of this loan in the Expense/Liabilities section of the application and supply your loan officer with all the supporting documentation of the new loan.

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