While there are still many down payment assistance and mortgage related programs, there is one option that one can use that does is often overlooked by potential home buyers: a personal collateral loan against a watch, diamonds, jewelry or gold.
Since the home mortgage related crisis began a few years ago and continues to affect the housing market, buying a house often means home buyers have to acquire a larger down payment to obtain a mortgage for a new home.
Advantages of using a collateral loan for down payment assistance and mortgage:
-
This does not affect you income vs. monthly payment calculation.
When you acquire a collateral loan, all you are doing is moving a current asset to cash. If you have jewelry, watches or diamonds that are worth a few thousand dollars or more, you should be reporting these as assets. When you convert them to a collateral loan you receive the cash, with no obligation to pay the loan back, and nothing reporting to any credit agency.
-
There is no credit check with a pawn loan for down payment assistance for a mortgage qualification.
In order to provide you with a collateral loan, the only thing we have to do is take steps to evaluate your jewelry, watch or diamonds, and make certain they are not stolen. We never run a credit check, and we never report your transaction to a credit agency.
-
You can receive your down payment assistance for your mortgage from us within 24-48 hours.
If you have high end jewelry, diamonds or a watch worth $2,000 or more, and you need cash for them fast, you may have trouble selling them quickly. If you do sell them quickly, you are likely to receive a lot less for them than you deserve, because it is not a seller’s market. By utilizing a collateral loan, you can get cash right away, and then choose to sell your item when the market is better or buy it back as soon as you are able. There are other benefits to utilizing a collateral loan for down payment assistance.
Contact one of our loan specialists today at 888-837-5877 or fill out an application at Internet Pawn and we will call you back promptly. Down Payment Assistance and Mortgage.
Tags: Down Payment Assistance and Mortgage