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Tag Archives: Interest Rate
How would you finance a vacant land purchase with this scenario?
Michael G asked: I have a current mortgage of $135,000 on my primary residence. This single family home is valued at $300,000. I want to buy a piece of vacant land for $145,000. I have $40,000 to put down on … Continue reading
Conventional mortgage-lending based on what value?
sreshowtime asked: Let me see if I can ask this right- If I want to buy a foreclosed property for 237K and the county tax value is at 244K, and other comparables in 2 mile radius are selling for 247k … Continue reading
Use A Mortgage Calculator To Guide Your Home Equity Loan Decision
Gerald Mason asked: The difference between a home loan and a home equity loan lies mainly in that the home equity loan, also known as a second or even third mortgage, is issued at a higher interest rate. This interest … Continue reading
Home Mortgage Loans
Sara Fredder asked: What are Home Mortgage Loans?Any loan which is taken by giving any asset as a security is called as a mortgage loan. When your house is the security that you are offering, it is known as a … Continue reading
Understanding Home Mortgage Loans
Gail Anderson-Metcalf asked: The price of houses keeps rising across the US. Since most require a down payment that is more than a renter can afford, how do you become a home owner when you don’t have the savings to … Continue reading
Refinancing Your Mortgage Or A Home Equity Loan – Which Is Better?
Joseph Kenny asked: When it comes time to get the money you need to renovate your home, you have some choices to make concerning the financing of it. Both ways, either refinancing your first mortgage, or a home equity loan, … Continue reading
Posted in Real Estate
Tagged Adjustable Rate Mortgage, Cash Out Mortgage, Fixed Mortgage, Fixed Rate Mortgage, Home Equity Loan, Interest Rate, Interest Rates, Mortgage Loan, New Mortgage, Refinancing Mortgage, Refinancing Your Mortgage, Renovation Project, Second Mortgage, Thousands Of Dollars, Time Length
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My home is paid for and I have an equity loan?
lala asked: I live in Ohio. Can I refinance this into a regular mortgage or some other kind of loan with lower interest rate? I am at a variable rate right now. Loan amt is 25000. And I still owe … Continue reading
Posted in Renting & Real Estate
Tagged Equity Loan, Financial Wizards, Interest Rate, Loan Amt, Mortgage, Ohio Refinance, Variable Rate
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Can I use equity in a 2nd home to lower my primary home’s mortgage principal?
mckgolfman m asked: I have a condo that I rent out and I have a line of credit that is at a lower interest rate than my mortgage. I am thinking about taking out some of that money to lower … Continue reading
Mortgage Loans – Getting 100 Percent Financing
Chimerenka Odimba asked: Usually when you want to get a house, you would need a five to ten percent down payment. So if you are getting a house worth $400,000.00, you would need between $20,000.00 and $40,000.00.A hundred percent financing … Continue reading
What is the difference between refinancing a mortagage and getting a home equity line of credit?
Lizzie asked: My home has appreciated significantly, and I’m looking to pay off my current adjustable rate mortgage and get a fixed rate loan at a lower interest rate, as well as extra money to fix it up and pay … Continue reading