All Questions
138
questions
10
votes
1
answer
599
views
Demolishing a home and rebuilding
My fiance owns a nice piece of property with an old run down home. The value of land and house right now is about 250,000. There is no mortgage on this property.
How do I borrow money to demolish ...
0
votes
1
answer
221
views
Can a family member not on the mortgage take a separate loan to help with the down payment
Say you are getting a house and get preapproved for a certain amount. This amount plus your downpayment is just shy of the required amount. If say, your father offers to take a loan for 10-30,000$, ...
- 195
0
votes
3
answers
129
views
Hypothetical Question About Mortgage and Yield [closed]
Making These Assumptions:
I have $1M, I want to buy a house which costs $1.5M.
I want to have a mortgage of $500K.
The interest rate on my mortgage is 2.5% annually.
Assuming I rent the house and ...
- 65
-2
votes
2
answers
122
views
Is there a more collateralizable home?
Consider a situation where a loan officer examines the degree of collateralizability of a real estate.
For example, one could compare:
Sturdiness: wood v. brick.
Flood/Tornado Plain: more vulnerable ...
- 449
1
vote
1
answer
361
views
Understanding pledge, mortgage, and collateral in home buying
I am trying to better understand the terms pledge and collateral, in home buying.
My understanding is that a Pledge is usually a pawn or piece of property used to secure "financing". When I try to ...
- 449
4
votes
4
answers
444
views
Mortgage as present value of resale worth
I would like to ask someone who is knowledgeable in home loan and mortgage financing.
Consider a home with an appraisal value of $ 400k.
Let the down payment on this mortgage be $80k (i.e. 20% of $...
- 449
2
votes
3
answers
329
views
Mortgage vs cash for a first-time home buyer
I need advice:
I'm in a condo contract, priced at $175K. I have been looking around for mortgage, and got a quote for a 3.125% 15-year mortgage with 20% down payment (so loan would be 140K).
I was ...
- 435
2
votes
4
answers
240
views
Mortgage broker vs bank mortgage for home buying
I'm a new home buyer, buying a condo. Now that we have already signed a contract, a question raised for me. Is it recommended to get a mortgage directly from a bank or through a mortgage broker?
...
- 435
5
votes
1
answer
1k
views
How to obtain "Negative Equity Insurance" aka "Home Equity Protection" aka "Equity Protection Policy" in the UK?
I'm searching for an insurance policy to protect against negative equity on a residential real-estate.
The risk I'm trying to protect against is that house prices will fall.
I'm looking for ...
- 483
-1
votes
2
answers
182
views
What is the best option for a loan to do a construction project at home without refinancing
I'm looking into advice and options to get a loan to pay for a construction project at home in the United States.
Here is the situation:
My family and I are living at one residential family home, ...
- 111
0
votes
0
answers
77
views
How do I solve this in excel? I think it's a cumulative rolling percentage problem
I have a spreadsheet that shows the following columns.
Date, Loan Applications Received, Interest Rate Offered, Cumulative Applications Received, Loans Originated, Average Interest Rate on ...
- 1
3
votes
2
answers
950
views
Should I pay off my 401(k) loan ASAP?
I recently saw a question on the forum about "Should I pay off my Home LOAN from my 401(k) or continue to pay Interest to myself".
Most responses seemed to think that paying it off ASAP was the best ...
0
votes
2
answers
53
views
When I shop for a direct lender, will the credit checks that they may do be bad for my credit rating? [duplicate]
Is it bad for my credit rating each time a possible lender does a credit check on me?
I need to shop for a direct lender in order to get the best rate for a first mortgage on a property I want to buy,...
- 676
5
votes
4
answers
873
views
Is home equity worth taking out a mortgage when I have $67k student loans to pay?
Note: home equity isn't the only reason I'm thinking about buying. I'd like to have control over my own living environment, more space, not have to worry about annoying the apartment unit upstairs if ...
- 1,074
3
votes
2
answers
2k
views
What is the formula for loan payoff date?
My goal is to calculate loan payoff date. Actually I'm making a wordpress plugin to calculate that. I made a form from I can have following inputs from user.
Current Loan Information
Original ...
- 133