Most of the people who want to buy a house need a good amount of cash to pay the down payment, and for this they need to earn a higher salary. But sometimes we forget that we can get a mortgage without paying a single penny. In fact, we can get the same loan amount at lower rates.

As it is said, the loan is given in return of the amount of money that you have. However, the truth is that the lender does not care how much money you earn, how much money you have saved, how old you are or how many years you have been working in the current job.

The only thing that matters is the amount that you have in your bank account. Now, if you are thinking about how you can take the loan without paying any money, then here is the answer for you.

Credit card cash back

If you are a good credit card holder, then you might be aware that the credit card companies offer some sort of cash back. Now, this is a big advantage for those people who do not have the amount in their account. They can use the credit cards to make the purchase and get the same amount of money back.

Loan against property

If you own a house and you have already paid the mortgage amount then you can use the house as collateral to get a loan. The lenders will be interested in the value of the house rather than the amount of money that you have in your account.

Loan against property

If you own a house and you have already paid the mortgage amount then you can use the house as collateral to get a loan. The lenders will be interested in the value of the house rather than the amount of money that you have in your account.

Rent to Own

If you are living in a rented apartment and you have been paying the rent every month, then you can use the money that you are paying every month as a security for getting the mortgage. The lenders will check your previous earnings and previous debts to decide the amount of money that you can get.

Conclusion:

If you have a high income and you are still struggling to get a home loan then you can take a loan against the property. You can also get a loan against the property if you don’t have a house. In case of a car loan, you have to have a good amount of money in your account to get the same amount.