How to Buy Property With No Down Payment?

One of my friends wanted to buy a plot without a down payment. She enquired with the Bank staff about “how to get a land loan with no down payment?” The Bank executives informed him that he must make a down payment regardless of the lender he chose. 

How to Buy Land Without a Down Payment?

All lenders, including commercial banks and NBFCs, are prohibited from authorising land loans for the full value of the plot by RBI regulations. The down payment guarantees that the borrower's personal finances are invested in the plot and helps the lender lower their risk.

Yes. The arrangement for the down payment cannot be avoided in any manner. If you can reach an agreement with the lender, you might be able to lower the down payment amount. It is impossible to completely avoid, though.

Hence, in order to buy a land you will have to raise funds for down payment by following any of these 3 steps;

• Personal loan:

  A lender may decide to extend you an unsecured personal loan. The loan money can then be used to finance your down payment.

• Soft loan:

  An informal loan is called a soft loan. To pay for the down payment, you can get into an agreement where you borrow money from friends and family. 

• Investment liquidation:

  Having a strong investment portfolio can assist you in covering short-term expenses. To pay for the down payment, for example, see if you may liquidate investments in mutual funds or fixed deposits. 

I hope this helps!

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Hello there, I am here to help you learn how to buy a house without a down payment. I took a personal loan when I was short of funds to make the down payment for my house. This turned out to be a good option, as it helped me not cause trouble to my family and take care of the required funds on my own. I would recommend the same here. My property was valued at 50 lakh rupees, and the home loan gave me 40 lakh rupees. I was able to gather the rest of the 10 lakh rupees through a personal loan due to a decent credit score. After doing some research, I found out about the

through a friend. The loan facility offers instant loans of 10 lakh rupees, where the approval process is quite quick. I would recommend you to check them out once. Below, I am sharing a few more ways apart from a personal loan to buy your property without making a down payment.

How Do You Buy a House Without a Down Payment?

Here are a few more ways through which you can make the downpayment for your house.

1. You can use your investments to gather the funds for the down payment. You can also look to take a loan against your FDs or mutual funds.

2. You can also consider taking a loan from your employer. Many employers offer general-purpose loans at lower interest rates to their employees. This would help you make the down payment, with the benefit of a lower interest rate.

This is all from my end. I hope this helps you learn how can I buy a house with no down payment. 

Like many other people, my neighbor (bestie) also had a dream of buying a house. Since there are several housing loan schemes available in the market, it became easier for her to arrange money and buy a home. However, she did not even have money for making a down payment, and yet she was able to buy a house? Well, just read below to know how to buy property with no down payment.

If you don’t have sufficient funds for paying the remaining amount, so you can reach out to any bank for unsecured loans. For example, if your property’s value is Rs.30L and you’ve already taken a housing loan of Rs.27L, then you can pay the remaining Rs.3L by taking another loan. This is how you can buy house without down payment.

You can always place your mutual funds or fixed deposits as collateral for securing a low-interest rate loan. This will help you arrange money to make the down payment. So, if you still have a query like “can you buy a house without a down payment”, the answer is yes.

If your company offers loans to their employees, then you should not shy away from taking their help. Usually, the loan facility depends on several factors, such as the tenure served, relationship with the employer, etc.

 The best part about this option is that you do not have to pay interest on the amount you borrow. Plus, you do not have to worry about any late penalty fees in case you’re late in making payments.

If you can arrange funds for making a down payment, then this option is great! The PMAY scheme aims to offer affordable homes to the urban poor. Under this scheme, the beneficiary can get up to a 6.5 percent interest rate subsidy on their housing loan. You need to remember that the subsidy %age will be determined based on the income bracket you come under.

I think you might like these answers as well if you this answer on “can I buy a house without a down payment”:

This is how to buy property with no down payment!