New answers tagged

1 vote

Can first time home buyer loan apply for second house if not utilized on first?

These first time home buyer loans have special terms and conditions that will lower the interest, or lower the minimum down payment percentage, or both. Some could even give you a break on closing ...
user avatar
-1 votes

Can first time home buyer loan apply for second house if not utilized on first?

Typically, the bank would approve a loan based on a defined object, so if you change the house, the approval is void. They would ask for an appraisal fir the new home, and re-approve - or not - based ...
user avatar
  • 37k
0 votes

Can/should you pay the down payment for your house on a line of credit?

No. Interest paid to buy a house is not tax deductible. Interest paid to buy most stocks is tax deductible in a non-registered account. You can sell the stocks and buy the house then re-buy* stocks ...
user avatar
  • 1,592
3 votes
Accepted

Can/should you pay the down payment for your house on a line of credit?

A couple of things: the interest rate on my line of credit is only ~5.5% The line of credit is a loan. The lender will have to factor in the line of credit terms when calculating how much mortgage ...
user avatar

Top 50 recent answers are included