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.
If I use a bridge loan to buy a new house, what, if anything happens to the mortgage on our existing house? Are we then responsible for our first mortgage, bridge loan payments and the new morgage? What is the benefit (other than obviosly being able to purchase the new house) of that?
I am a 1st time home buyer and am in a high tax bracket (33%). I am considering whether I should accept points and buy down the rate and claim all the points (approx $11,000) in the current year when I file my returns next year? This is not a refinance mortgage.
30 year fixed? 2/1 ARM? I need a loan with no PMI and low points and the lowest possible mortgage payment a month. What Im working with:
Credit score 600
Annual assets (Salary) 34500
Monthly Debt: 70
House loan amount: 106000
Available to put towards closing costs (Including down payment) 12000
buying price of a rent-to-own property?
Currently I am about to close on a house and have a 30 year fixed rate mortgage. My question is whether paying additional amounts above my normal mortgage payment reduces the amount I will have to pay each month, or whether it just reduces the amount of periods in my loan term.
I am wondering if it is possible to obtain a LOWER interest mortgage loan by obtaining if from a foreign country? Could you give me any web site references? Thanks!
Also have you ever heard of Sydney Financial Group?
I found this question from another one that was posted previous to this one, and I was just wondering if this could really happen.
I am a 24yo med student in Chicago looking to buy a condominium. As a student, I have no steady income but do have around $30,000 available for a 10% downpayment. My credit score is 760. Can I get a mortgage with a reasonable interest rate given my credit score and lack of steady income and what would that rate be? I plan on purchasing a condo and renting it out for 2-3 years and using the rent to supplement monthly mortgage until I have a consistent income high enough for me to move-in myself. What steps must I take to fulfill my plan of first time home ownership?
I’ve lived there for a year, but now want to get a FHA streamlined refinance. Do we have to live there for another year after the refinance?