ANSWERS: 2
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No because he's going to charge you interest for those three months that you are, in essence, using his money. Close when you can make the down payment and the monthly payment. In this economy, he may re-negotiate on the price if thinks you can't close for 3 months.
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That's not how a mortgage loan works. You would be paying interest on those missed payments for the life of the loan, even if he agreed to allow you to do that. You can't fool the amortization schedule in the computer tracking your loan payments.
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