Question
Can you take out a home loan for more than what you are paying for the home?
The extra money would be to cover things like furniture and appliances, and whatnot.
1 month ago - 6 answers
Best Answer
Chosen by Asker
Nope. You missed out on that bright idea by about 2 years. Those people are now in foreclosure because they owe more than what the house is worth. NO ONE gives out 100% LTV loans anymore let alone 100%+ LTV loans. If you cannot afford to furnish the house OR put down a down payment, you probably cannot afford the house to begin with.
by Ryan M
1 month ago
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Other Answers
no you cant
by I gotz that wicked clown love- 1 month ago
Nope. Why would you want to anyway? If you have decent credit you can probably get away with 3.5% down payment if the house appraises well. I hope the banking industry learned a lesson about lending more than a house was worth to people who couldn't afford it to begin with.
by timothy p- 1 month ago
If your state has a first time homebuyer's program you can. I was allowed to take out the loan for an extra $3000 on my first home to cover closing costs with this program. They will not, however, allow extra money for furniture, appliances, etc.
by Chad- 1 month ago
depends on the lender.
by Realtoratheart- 1 month ago
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by Grace- 1 month ago



