Does anyone know anything about gift downpayments?  How do they really work?  Thanks.?
100105
Most typically used with FHA loans, non-profit groups like Nehemiah allow sellers to increase the sales price of the home  to allow the seller to contribute 3% toward the buyer's downpayment and still receive the same amount for their sale.\n\nHere's a simplified example: Seller wants to get $100,000 for their home. The buyer needs a minimum 3% into the transaction (according to FHA loan requirements).\n\nThe seller agrees to write the contract for a sale price of $103,100. The seller "contributes" $3,100 toward the buyers downpayment. Buyer gets their downpayment covered and the seller nets the same amount - $100,000.\n\nReal estate agents love it because the commission is paid off of a higher amount.\n\nThis is all legit and intended to encourage 1st time homebuyers.\n\nCheck out more info at www.getdownpayment.com
1185532
Refer to it as "your generous gift" as opposed to the actual amount.  Also, be sure to mention something you may purchase with it.  "Thank you so much for the generous gift.  It will really be helpful when it comes to paying off those student loans/ taking that vacation/ buying a professional wardrobe/whatever"
646380
There are some but you also have to realize that the rates are as low as 5 to 10 cents per email unless there are specific or special emails that will pay more. You have to read a ton of emails to make the money that you may be looking into getting. Try this website I've been using it and I've received money via paypal. Although it says surveys it also does, emails, advertising and secret shopper opportunities.
1013143
Ask your real estate agent about a the Nehemiah program.  Have a look here for more information:  http://www.nehemiahcorp.org/\n\nI just sold a home to a family with weak credit and no down payment under this program.  I also have two friends who bought homes using the program.  Both were of very modest means and had weak credit.  Any agent worth their salt knows all about the program.  If yours doesn't, find one who does or point them at the URL above.\n\nGood luck!
305534
Actually, I had a friend that used a MasterCard Gift Card that she got as a birthday gift. Netflix took it without a problem. The card had a value of $150.00 so as long as the card had money, it was fine. I would try it and see what happens with the prepaid credit card. The worst is that it will be denied and you will have to wait until the amount is returned to the card. You can also use a debit card issue from your bank that is tied to you account. For example, my friend uses her debit card for a lot of things that would normally only accept a credit card such as renting a car.
202046
yes, fisrt by sending them emoney to their email address and ask for their address so you can send them the real money.
1136726
See if there is someone else you can pair up with who has better credit and/or can help w/ down payment. (e.g. significant other, parent, family member)  This would help reduce interest rates which will prob be very high w/ poor credit.
446180
I would be VERY leery of these people. You may not have heard so I will tell you. There is a scam going on out there where people are preyed upon to "take Payments" for a company. The problem is that the "payments" that come in are bogus checks, stolen money orders, etc. They want you to deposit those funds into YOUR bank account (so that you will get charged with fraud, etc.- instead of them) and then do a wire transfer of the funds into their bank account. Save yourself the heartache- do NOT do it. It isn't a job- it's a scam.
894217
DO NOT SEND MONEY!  You are most likely on the brink of being ripped off.  If this was ligit the person would/should prefer a money order (or check since there is plenty of time for it to clear).  Take the advice of a previous answer and pick a place when you can do a walk through.
988359
I tried cashcrate. They loaded up my mailbox with more than 150 offers EVERYDAY. I'm sure some people got paid but I stopped using the site when that happened. They pay you by paypal for free but deduct money from you for a check.
980575
I saw this on a news cast one night.  They featured a story where the news employee approached people at random that were walking thru the mall.  They asked them if they had a credit card and would they want to lower their interest rates.  Well.....who wouldn't?  They simply called the credit card company and asked!!  Yep, it was that easy.  Time and time again, people (including myself) were amazed!!  All you need to do is call and ask them to lower it.  The odds ended up being something like, 8 out of every 10 people who called were successful.  Good luck, I hope this helps you.
583559
Well thats kind of tricky. How do you think you will get the money from the website itslef? i mean come on, unless you set up a website with a paypall account ,where people can enter there bank info, and select any amount of money they want to donate, i dont think its possible, unless you do it that way. \n\nGood luck, to both of you
48725
Most people who get into these loans will have trouble paying them off.  They are lured by low payments, but either don't realize it, or don't fully consider how difficult it will be to contribute enough principle to pay off the loan. \n\nIt is a bad idea, even for the financially responsible.\n\nAdded info--- \nAnother answer brings up an important factor.  Yes, if you are a professional investor it can be used effectively as a tool to lower you cash outlay. But for an individual home buyer, you must be very careful with these types of loans.
1003641
yes I do that type of loan, How is your credit score? Can you prove your income (W2 etc)?What is the buy back price?Please email me the answer and I will tell what you can get. Johng@oldmerchants.com
937825
That definitely sounds like a scam.  That's sounds more like you giving them money, then them giving you a loan.
177289
The standard downpayment used to be 20 percent of the purchase cost.  Times have changed dramatically.  I know NUMEROUS people who have bought homes with 0-5 percent down in the last  10 years, especially since interest rates plummeted around 2001-2002.  \n\nI just purchased a home in 2004, and we were required to put a downpayment of roughly 5% of the purchase cost. We were able to get a conventional interest rate of 5.5% at the time. Our mortgage payments have been very manageable. If you are concerned about building equity faster or saving on interest, you can always pay a little extra each month (a little goes a LONG way).  We've payed an extra $100/mo., and we've knocked 6 months off the life of our loan so far, which is huge.\n\nThese days, many, many lenders have 95-100% LTV (loan-to-value) loan programs for first-time buyers (THAT is key). You should call banks and mortage brokers in your area and ASK them if they have any 95-100% LTV loan programs, and ask what you need to qualify (there might be income restrictions, in my case there weren't any).  It's true that if you put less than 20% down, you have to pay PMI (basically mortgage insurance), but I believe the majority of new homebuyers today pay that.  It seems fairly standard.  The BEST part is that PMI is NOT permanent.  You can have your PMI payments stopped after you accumulate 22% equity in your home (which should only take a few years between your home appreciating in value, plus you making payments decreasing the amount you owe).  If you go this route, there are MILLIONS who have gone it with you, and some of us (me, included), don't regret it one bit.\n\nGetting an FHA loan is sometimes easier because your loan is guaranteed by the federal government, but they have limits on how much you can borrow. Before I ever applied for anything, I pulled my own credit report from MyFico.com, and made an appt. with a local bank rep to discuss my options. \n\nThere are three big things to prepare before you shop for a loan:\n\n1.  Make sure your credit is as clean as possible (that means do NOT open any new credit right before or during your lending process).\n\n2.  Make sure your debt-to-income ratio is as LOW as possible.  This means that you want to try to make sure you are not spending more than 36% of your income on debts like rent, car, credit cards, etc.  Some lenders might want to see that ratio a LOT lower.\n\n3.  Save for your downpayment PLUS have a little leftover for after you close on the home.  Once you get in there, chances are, you'll need the cash for repairs or to furnish the place.\n\nBest of luck to you!
1116780
My fiance and I fell for this scam about 2 months ago. We wired them a deposit of $750 and never received a call back OR our money! I really wish we would have looked into everything alot more closely. When we tried calling them, no one EVER answered, we left countless messages for someone to call back. \nFinally, after a week of no response I went back to the site and did a whole new request under my name. LESS then 24 hours later, someone called! We told them who we really were and they hung up on us! Well, we called back again and someone different answered. We explained everything to this women, we told her that "Sally Hamilton/ Rachel Wilson" never called us back or emailed us, and that we were going to hire a lawyer against them. That must have scared this women because she said she was going to have to speak to "Sally/ Rachel" about that issue. She also told us SHE would be refunding out entire depost in 30 days.\nIt's been OVER 30 days and we have not received anything, not the deposit, not a phone call, nothing! Now, if you go to www.carltonfinancialgroup.com, their website is down, we have no other way to contact these people, and all of the numbers we have contacted them through before are not in service anymore.\nWhat phone numbers do you have and who did you speak to?\n\nThis is a SCAM, please don't do it!\n\nPlease respond, maybe we can put our information together.