2) Purchasing down payment that have margin financing having fun with Entertaining Agents: Interactive Brokers has actually it nice margin loan alternative which have 1.59% until 100K, and you may step one.09% to own a lot more than 100K. I am almost totally dedicated to stock-exchange, and that i should not promote, and so i want to use margin mortgage (say transfer 400K to help you IBKR, in which case they’re going to give myself 200K, that’s best for 20% downpayment out-of an excellent 1M domestic). Has actually some one attempted this? I informed which to BoFa home loan specialist, and then he told you “we need to know the terminology (period / rate of interest regarding percentage plan of your own margin mortgage) in order to accept our own loan together with your down-payment paid down through IBKR margin financing”. How does BoFa proper care where in fact the down-payment comes from?

Has actually some body done so, take a home loan away from a financial otherwise borrowing relationship, to make the fresh new down payment through a beneficial margin financing away from IBKR?

3)Prequalification: When really does prequalification happens? What more carry out I wanted, making most useful use of 90-date period once my prequalification?

The credit ratings you can see and those mortgages they fool around with will vary. Aforementioned often is all the way down, getting explanations.

Finance companies usually need to know the reason regarding https://paydayloancolorado.net/sedalia/ fund. If someone offered your money to mat your account one to you were simply planning go back once they seemed what you owe, you may have less than it seems. Continue reading Ought i score prequalification and you may home loan app approved a similar date? →