52) A promise lacks consideration if a person promises to perform an act or do something he is already under an obligation to do. This is called a(n) ________. 52) A) illusory promise B) preexisting duty C) illegal consideration D) gift promise 53) Dean Campenella is a detective with the California state police.
What about first-time home buyers or those with little to no equity? In today's market, it is prohibitive even for the most frugal of first-time home buyers to come up with a traditional down payment. Houses that sell for $200,000 would require a down payment of $20,000 to $40,000, but there are options. Let's look at some of them.
You can find typical first time buyer mortgage rates. The number of 90% and 95% mortgages on the market is on the increase so provided you meet lendersâ affordability criteria if you have a 10% or 5% deposit it may be possible for you to get a mortgage.his is because the more money you have to put towards a house, the less of a risk you pose to a lender. In recent years first time buyers have typically used a 20% deposit to buy a house. But donât despair if youâre struggling to save a large deposit there are still many mortgages out there for first time buyers.