I know APR loans are a bad idea, but how would an interest-only loan work? Would it still be a 30 year note, or do they extend the loan? Would I be able to get a fixed rate with an interest-only mortgage loan?
Is there a certain day that banks add interest to mortgage loans? I am currently have a mortgage loan with Chase Bank.
Is this the correct formula for the tax deduction:
Tax rate of 38.5% times all the mortgage interest I paid in the past year?
Also, If I owe $100 in taxes but my deduction is $125 (based on formula above) does that mean the govt. will send me a check for $25?
For tax return, how many home can I be deducting mortgage interest for? Is it just 1st and 2nd home only? or can I also deduct mort. interest for my 3-4th home?
Can mortgage brokers give us a lower rate on 30 yr fixed(zero points) today at 4.87% by lowering there commission from the bank/lender where they are locking the rate ?
i can’t figure th componded interest. need 500.00 from the sell of property so how many months will the contract run. thanks
We will be applying for a conventional mortgage. And although our credit score is not perfect does it help with getting a better interest rate if we have never been late on our current mortgage and have been here for 3 years?
Please knowledgeable and honest answers.
Assuming the credit rate is excellent and falls under high income. Also the house price would be under 300k. If there are any mortgage lenders, could you suggest what is the current interest rate that you could estimate?
I have a home I am ready to buy to flip in about 90 days.In order for me to buy the home, I will get the money from an individual. Once the home is sold can I give or sell the interest paid back from the buyer.
I am a resident of california and I have a mortgage for a house in India. Can I deduct the interest of my Indian mortgage from taxes in US?