For many families, the economic pressure of buying a house with all the money is relatively large. Many people will choose to pay the down payment in installments, but sometimes even the down payment is not enough. What should we do? So how can we get together if the down payment is not enough? There are seven solutions:
1. Seek parental support. If your parents have a good financial situation and have a temporarily unused idle fund, you can consider asking your parents for help or borrowing money from relatives and friends with good financial conditions. But we should remember that no matter the amount of the loan, we must make a debit note and repay it when we have plenty of funds.
2. Mortgage an old house. If you have an old house at home, you can mortgage the old house to get a loan to pay the down payment. This method can obtain a larger loan amount, but it means that there is a lot of pressure to repay two loans at the same time. In addition, the loan interest rate obtained by mortgage is higher and the loan life will be shortened.
3. Use a credit card. If the gap of the down payment is small and can be collected in a short time, you can choose to swipe a credit card to pay the down payment, because this method has a high interest cost. In addition, Xiaobian suggests that you'd better use a high credit card instead of multiple low credit cards, because it is easy to be considered as cash out by the bank.
4. Resell valuables. When the down payment gap is large, if you have an old car, house or other valuables at home, you might as well sell them at this time. However, the cycle of this cash transfer method is still relatively long. If you really need to use this method, you should first find a good buyer and then buy a house.
5. Realization of securities. If you buy funds, stocks and other securities on weekdays, you might as well realize these securities to offset the down payment. Although hasty realization may lose part of the income, it is also an effective method in the case of insufficient down payment.
6. Loan through insurance policy. Now many insurance companies' policies can be used for loans, so if you buy commercial insurance, it is also feasible to borrow through policies. However, there will be certain risks and amount restrictions with policy loans, so you should ask the insurance company in advance.
7. Lower house purchase standards. If the above methods have been tried and there is still no way to make up the down payment, you can also choose to reduce the standard of buying a house, such as considering buying a smaller house or a place slightly offset, so as to reduce the total price of the house.
For most ordinary families, buying a house is not a small expense. But for many families, even the down payment is difficult to get together. Seeing that the number and middle signature that are not easy to shake will be delayed because the down payment is not enough, so it is not cost-effective. Therefore, it is also feasible to collect enough down payment through the above methods.