Question About Buying House With A Credit Card
OK so this may sound extremely odd. When you go to close ona house, can you put the purchase on a credit card instead of bringing like certified funds to closing? I mean if you are buying outright not financing. The reason I am is asking is that I get points towards travel when I use my debit card which is linked to my checking which is where the money is at to buy the houses. If I use the debit card consistently I get a free trip to Europe. Any thoughts on the matter?
Thanks
Joe
[addsig]
Man!!! Money is money always try to gain!
If it adds to your profits and you have the money in the account why not!
I asked that same question to a broker and he said no. But I'm sure you could get a cash withdrawel from the credit card or get a credit card check and write it to yourself and the deposit it. but to bring the card to the closing table I was told no, but that may of just been that lenders rule.
You will never be able to charge a home closing with a credit card. Besides can you imagine what the lender who just approve a loan for you would look like if you tried to do this.
You'll have to get a cash advance but I doubt you'll get points for using the card this way.
Hey,
I am not sure about all cards, but the ones I have start charging interest on day one for cash advance (which makes sense if you think about it). So this would seem to be a losing proposition.
EXCHANGE your credit for cash! If you know someone with the cash for a huge purchase (not a home) like a car. Offer to purchase with your credit card and they give you the Cold Cash!
Not a bad idea if you can find a few to interested parties.
Food for thought!
[addsig]