Personal Loan for down payment

[Ben Capone]

Hey all, exploring some options for a personal loan to get a down payment on a place I am looking at. Has anyone had luck taking personal loans out for down payments? Or any other good options I can explore? Looking at making a move as soon as possible.  

[Scott E.]

For the reasons @Doug Smith explained, you probably will not be able to get away will using a personal loan as the source of your down payment on a house.

But even if you could get away with it from a lending standpoint, I don't think it's wise that you get into a 100% financed deal (especially in a declining market).

My vote is that you forget about the personal loan. Find a way to increase your income, decrease your expenses, and save up more money.