Mortgage Brokers & Lenders
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 4 years ago,
Payment before loan
How common is it for lenders to ask for $1600 payment from me before I receive the fund distribution? This seems like a scam but ive never had a home loan before. Is this basically the down payment for the loan?