home mortgage loans

bchebegebe asked:


I am 21 and I recently started looking into some real estate listings just for the heck of it. I came across a couple of houses that are at or below $25,000, I went to take a look at them and they are in very nice condition as well as being in good neighborhoods, mostly because we are in a serious real estate slump here in Michigan. I feel like it is the right time to buy something especially so I can take advantage of the first time home buyer credit. What would be an ideal situation for me would be to purchase the home with a very low down payment and I do not know much about loans, but with a 10 year fixed APR mortgage, the loan would be extremely affordable. The plan would be that I could pay it off in ten years and either still live in it or sell/rent the property. My question is does this sound at all reasonable for me to be doing and are there even lending companies out there willing to work with low down payment mortgages that are that short of a term?

HARLEY

kk asked:


I am not sure what is a better home loan option:
5.75% no pts, pay closing or
6.125% no points and no closing cost?

JARVIS

Harold asked:


My parents are giving me their current house and building a new one. The house needs some improvements (Kitchen, Bath, Carpets, etc) what is the best loan to get? I currently rent so I don’t have a mortgage. Do I get a home equity loan, first mortgage, home improvement loan? Please help.

EDWARD

Dr. seus asked:


Between her home mortgage, car loan, and credit card bill, Megan is $75,300 in debt. The monthly interest on her credit card is 1.5%, the monthly interest on her car loan is 1%, and the monthly interest on her mortgage is 0.6%. After one month, her total accumulated interest is $460.50. If the interest on Megan’s credit card bill was $4.50 more than the interest on her car loan, find the amount of each loan.

DENIS

hanuman asked:


On June 4th I signed the paperwork for my home refinancing for the amount of $415000 at 6% fixed interest rate for 15 years.My credit rating is excellent, home appraisal and my income are excellent.I paid $2000 (title,appraisal,doc.fee..)for closing costs with 0% points..Is my rate deal good? IAre the closing costs reasonable? Is there any database on mortgage loan transactions to analyze and compare?

EFREN

karnotda asked:


About 5 months ago I paid off all of my outstanding debt (credit cards, overdue bills, medical bills, etc…) I now want to purchase a new home. How can I raise my credit score so that I can get a great quote on a mortgage loan?

DONNELL

homedepot asked:


i am a first time (or hope to be) home buyer, and i have a tax lien on me, however i am classified ‘currently non collectible’ by the irs. so in short,how does this effect my chance of getting a mortgage loan. also, the tax debt is not even in the 5 digits, it that even matters. thanks!

TRUMAN

Dwan J asked:


I just purchased purchased my first home for $181,900. I put 10% as a down payment$18,400 plus $500 ernest money. I had only 10K on hand a had to borrow the other 8K from another lender. My question with the 10% down payment does that give me some kind of equity if so when can I refi to get some cash to pay off the high interest 8K loan. Or could I get another loan at a lower rate and pay off the higher rate loan. I need some advice on the best way to go about this. Because we can handle the mortgage and the loan but want to get out of it as soon as possible. All serious suggestions are appreciated

DEANDRE

mommyof4 asked:


My husband and I are divorced and I own the home and pay the mortgage. The loan is in his name, but he does not take the deduction since he is not paying the loan. Is there anyway for me to claim the deduction on my taxes. A special form or something? Thanks in advance!!

ROYCE

Man M asked:


In other words, since the child is on the actual mortgage loan and the court deed, child should automatically be entitled to the home without any issues in case of death of parent or parents?…Child did have to sign the same paperwork as parents when the refinance took place. Child also lives at the residence.
Your right, 23 is not a child but is in college. Sorry

SAMMY