The short answer is no. The long answer is maybe. Officially, your down payment has to be seasoned funds (that is, money you have had for at least a couple of months) that are legally yours. In the case of FHA financing, you can get down payment assistance only from immediate family and from certain approved community housing organizations.

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This precludes getting your minimum down payment from your anticipated tax credit (although you can use it to make a larger than required down payment) or borrowing the down payment without the assistance of a community housing group.

However, some applicants have managed to borrow their down payments by working the system a bit, and I'm not sure that it's a great idea. For example, you can take a cash advance, keep the money in your accounts for months on end, and count it in your assets when you get a mortgage. Of course, the debt will count against you on the debt-to-income ratio side. In addition, cash advance fees can be very ugly, and you'd have to make monthly payments or end up with bad credit and get your application bounced. Finally, you probably pay about 30% interest on that sucker.

Ditto for tax refund loans--you can file your taxes and claim your credit but that could be hazardous--what if your home purchase doesn't go through? The last thing you need is the tax police breaking your door down and filing fraud charges. And, like the cash advance, these loans cost money to originate and there is interest too. While you season your funds, you'll be paying.

By the time you have jumped through all these hoops to pull a fast one on your lender, and paid all those fees and taken all that risk, you could have made a decent start towards saving a legitimate down payment. And if you are truly disadvantaged, there are organizations that provide down payment assistance, and it's a lot more affordable than putting your house on a VISA card.