How did you get enough down payment for the first suite?

1, borrow money from friends and family! Under normal circumstances, borrowing money from relatives and friends can raise a lot of down payment, especially with local friends, which can solve many problems at once. But it's really a bit difficult to open this mouth. After all, I don't want to trouble others. As for borrowing money from relatives and friends, whether to give interest is really a big problem. Give it. How much do you want? If you don't give it, it's never a problem to lend others money for so long.

After paying the down payment, the next mortgage, if the family can't afford it, will take a long time to repay the loans of relatives and friends. Even if the other person doesn't say anything, you will be embarrassed yourself.

If you don't borrow money from friends and relatives, what other ways can you raise money for a down payment?

2. The latest Internet lending products. According to your credit history, the P2P platform will get loans ranging from tens of thousands to hundreds of thousands, but the relative interest is higher. Of course, the cash service of credit cards is also very high. The daily interest rate is 4/ 10000 or 5/ 10000, and the annualized interest rate is as high as 18.25%. That is to say, if you borrow 200,000 yuan, the daily interest rate is 100, and the annual interest rate is 36,500. Similar products include cash advance services launched by Alipay and WeChat, but the financial assistant thinks this is limited to emergency use. After all, such a high interest rate will bring great pressure to life.

3. If you are starting a business or opening a factory, you may be able to borrow more down payment funds through channels. But this is more difficult and belongs to the crooked road. Although many people have done this, we should know that bank interest is usually the lowest loan channel.

4. If you participate in insurance, whether it is life insurance or critical illness insurance, you can mortgage the policy to get a loan with an annual payment of 20-40 times, and the interest rate is generally around 8%-9%. If your insurance has been paid for a long time, you can mortgage the cash value of the insurance, which will not only get higher cash, but also greatly reduce the interest rate to about 5%.

Of course, if there are securities or funds, they can also be mortgaged.

5. What if none of the above? Then you must have heard of credit card cashing. Nowadays, many people begin to cultivate the habit of spending by credit card every day. The jargon is "keeping a card", which means spending by swiping the card in various ways, spending as much as possible and repaying in time. Even the way of cash consumption itself makes credit card issuers mistakenly think that their spending power and repayment ability are high, so that they can obtain a larger credit line.

If you have three credit cards with a limit of 654.38+10,000 yuan, as long as the repayment dates are different, you will have 300,000 cash before the last repayment date and the first repayment date. And by constantly repaying the loan, you can get 0 interest and 300 thousand cash every month. But you need to give the card a certain cash handling fee. Generally speaking, the cash cost is very low, far lower than the bank loan interest rate. However, this method has great risks. Once you delay repayment, you will have high interest and bad credit records. Once you enter the blacklist of credit cards, your cash flow will be cut off.