All Questions
8
questions
-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
0
votes
3
answers
197
views
Credit Card usage before taking a mortgage in the USA?
As a first time home buyer, I am hearing many things about the financial steps to take before applying for a mortgage. I have been told that its better to not use credit cards at all for about two ...
- 742
60
votes
9
answers
18k
views
Why are 30-year mortgages seen as unwise, if you can pay off the loan in a shorter period of time anyway?
I'm slowly working towards buying my first home (yay!), and have been playing around with the numbers. As far as I can tell, there's literally zero advantage for getting a 10 or 15-year mortgage since ...
user44315
2
votes
2
answers
564
views
What's the process to buy an old house to tear it down and create a new one?
I'm seeing an old house in Union City, NJ, that I'd like to buy to tear it down and create a 3 family one to generate income. What are the steps to take in this process and what kind of contract ...
- 153