Good Method For Getting Down Payment?!?

What are some good ways to come up with the down payment?!? I have heard of investors purchasing a property and having the seller put a certain amount back at closing for Down Payment.

Are there any other ways, more creative ways, that investors come up with the down payment for a property?

I heard of someone saying that they "financed their down payment with a home equity line" - How does this work?

Thank you!
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Comments(1)

  • groverm15th July, 2004

    It seems like if you are about to purchase at 80% of appraisal you can get away with not doing a down payment.

    In my case the bank told me that I couldn't do the home equity line until I closed. I ended up borrowing the down payment from my grandmother and then paying her back two weeks later with the home equity line.

    At this time I have several lines of credit that I can use for down payments and then turn around and pay them off, if I were to do something similar.

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