 TITLE: Can You Buy a House With a Personal Loan? CONTENT: Can You Use a Personal Loan for a Down Payment?\n-----------------------------------------------\nIf you're buying a standard home and need a traditional mortgage, your down payment requirement can typically range from 3% to 20%, depending on the lender and the situation.\nWhile it may be tempting to use a personal loan to cover this amount, you'll have a hard time convincing the mortgage lender to accept it. The primary reason for this is that a personal loan increases your debt-to-income ratio (DTI), which can hurt your chances of getting approved.\nAlso, it could be a sign that you can't manage your money well, which can be a red flag for mortgage lenders.\nLegitimate uses for a personal loan include consolidating debt, paying medical expenses, starting a business, renovating your home and financing a large expense. END