 How much per year do you pay for property taxes on your house? |
Additional Details
Just curious..Me and my wife have a house in Mexico and pay about 330 Mexican pesos a YEAR which is about $31.00 US dollars ! The house is appraised at $110K...... |
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 Can you buy a house when you don't have any money for a downpayment? |
| My husband wants to buy a house. He's been approved for a 700,000 loan. But he doesn't have any money for a downpayment. He keeps saying that first time home buyers can get a lot of help.... |
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 How to divide rent between 4 people in a 3 bed home when 2 of the tennants are a couple? |
| The monthly amount is currently 1300 euro 1 tennant pays 350 euro 2 tennants in larger rooms pay 475 euro each. What is a fair amount for the 4th person to pay as this tennant would be sharing with 1 ... |
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 Can I change the locks when renting a home. My landlord is making threats!? |
| I feel like I must change the locks in order for my stuff to be safe. I know that they have already been in my home and searched thru my things when I wasn't home. Also their brother in law is ... |
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 Does my landlord have to provide me with smoke alarms? |
| I live in a one bed flat on the first floor with only one excape route. The flat is not purpose built. We live in the county of Oxfordshire.... |
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 Deny rent because heater in bathroom is broken? |
| Can the tenants stop paying rent because the heater in the bathroom doesn't work?... |
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 Should i pay my rent up for 6 months is that a good thing to do ? |
should i pay my rent up for 6 months ? people tell me no i should only pay for 3 months.. if something happens can the landlord keep the money
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i wanted to be ahead on ... |
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 Can landlord prove that damage was not there when I moved in even if they don't have before pics? |
| My landlord is suing for damages that she claims we caused. The dishwasher leaked through the floor. It was leaking when we moved in. We only used it 4 or 5 times. There is no way we could have ... |
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 Should I plunk down $400,000 on a CONDO that has not been built yet ?? |
WOW, the CONDO market in Toronto Canada is HOT, HOT, HOT !!
I've seen over 200 people waiting in line for the lucky opportunity to be one of the few people to put down $400,000 or more on a ... |
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 I want a house!!! Any advice? |
| Me and my husband want a house so bad but we are in a finacial struggle right now and have dwindled our savings. We have a child so we are really working with one income. I only work partime. Any ... |
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| In your opinion, are double-wide mobile homes as good as, better than or worse than houses? |
| I am thinking of trying to purchase a home. I have saw some very beautiful double wide trailors. I used to hate trailors, but that's before they came out with the ones that look like real houses.... |
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 Will you PLEDGE to buy only AMERICAN made products with your ''rebate'' check? |
| Since the ''rebate'' funds will be funded by loans from China it makes sense to not just give the money back to them by buying their stuff.Let's truly help our economy..BUY AM... |
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 Is it a good idea to buy a house during a recession? |
| I see houses are going down and interest rates have gone down so I was just wondering if it was a good idea to buy a home right now.... |
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 Do you think it's ok to tell your landlord the reasons why your rent is late? Even if it's a bit personal?? |
| Now, I'm not talking about getting way TOO personal... but just a general idea of what's been going on in your life. Normally I would say this isn't a good idea. But my own rent is ... |
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Mike in Philly | Buying a home for the first time...what type of mortgage is the best for us? |
My wife and I have great credit (730), we are looking for a loan for a primary residence, $409,000. We want to come to the table with 0 down, no money out of pocket. What type of loan is best for us? We can afford about $2500/monthly. Any assistance would be great. Online mortgage calculators suck! |
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sclay95843
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Do you or your wife have any prior military experience? If so then I would go for the VA loan. It's made for first time buyers with no money down. That way you won't be hit with PMI. :) |
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TheOracleAtDelphi
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If you come in wth zero $ down they are going to stick it to you in interest costs. Why don't you instead save up six months, and then come to the table with at least 10% down? It will also decrease your monthly mortgage. Otherwise, you are just waiting for bad news to happen if your house depreciates or you miss a payment. |
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Stephen B
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This is going to be tough if you want the least risky mortgage product...a 30 year fixed-rate, fully amortizing mortgage. .
If you get a mortgage for the full amount with a 30 year amortizing fixed rate at 6.375%, then your monthly payment is $2551.62. BUT....then you are going to have to pay mortgage insurance, plus taxes plus property insurance..... Mortgage insurance (look it up on the internet is required by a lender when you put less than 20% down) and will cost .4% a year... kicking your payment up to $2659. Then you have to add in your property tax and property insurance.
If you want to start introducing elements of risk into your mortgage you can get an interest only mortgage, in which you pay interest for the first few years and then it converts to a repayment mortgage. You can do this with an adjustable rate or fixed rate mortgage.
If you select one of these products, you can drive the monthly expense down by a few hundred $ a month. BUT...you have the pay the piper eventually....usually with higher payments down the road. Also, some of these mortgages carry prepayment fees.
If you intend to stay in a house for a limited period of time, then you can taylor the mortgage to match the length of time you expect to own it. You could select a mortgage that is fixed rate for 5 years, and then it begins to adjust...but if you move in year 4 you wont have to face this adjustment.
Selecting the right mortgage is complex and you need to find a mortgage lender who you can trust. Ask your realtor for a recommendation.
As a general rule, the lower your initial payments are, the more risk you are taking at the back end that your payments will go up materially.
Hope this helps. |
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Mark
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Holy crap.... your statement reads "I want it all and I want it Now" |
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SST
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Are you crazy? save your money. Buy a house, not one for you and one for your lender. The answer to your question is....none. It's like asking yourself which rope is best to hang yourself with....come on. |
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sneezy7231969
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The only advise I have for you, is make sure you choose to have a fixed interest rate, Everything else will work out fine. |
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mel
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put at least 10% down or save for it.
a 30 yr fixed is a safe bet. |
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1001Questions
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10% down and go for 5 year fixed rate closed mortgage, you can shop around to get the lowest rate available. |
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Ricknows
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wait 2 months, put $5000 down and go to your bank......dont do no money down...that's so lame |
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vrazumniy
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Thank you for your question. We have a mortgage product you are looking for. Based on the information you provided we can obtain a 1st and 2nd mortgage for you which will allow you to have 100% financing without getting PMI (Property Mortgage Insurance). The reason you want to get 80% first and 20% second mortgage is because second mortgage interest is tax deductible and PMI payments are not. As to your payment it would be about $2500 per month plus we can help you with paying no closing cost on it. We at American Mortgage and Real Estate Group have various other products for no down payment programs such as 5, 7 and 10 year amortization fixed mortgage. You would have to make a choice which mortgage to pick based on the number of years you are planning to live at that property. Also, right now we have a great product called Option ARM with rate of 1.25% and 7% ARM and mortgage payment for that product would be about $1400 per month. This products is great because every month you pick an option of your payment. You can make a full payment or a minimum payment depending what you think is the best for you at that time. I hope I addressed all your question. If you have any other questions please feel free to email me at info@amregroup.com or call me at 323-428-5944 and ask for Vladimir Rozumniy. |
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diogenese19348
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It really is not possible to buy one no money out of pocket. You folks have and IRA? You can use it for a first home.
You want to put at least 10% down on a first home. That would be $40K for the one you are thinking about. You get a much better rate if you put down 20%
-Dio |
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Hoopfan
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Depends on how long you intend to live in the house.
1-3 years...Go with a 3/1 ARM, 1yr ARM or 6 mo. ARM
3-5 years... 5/1 ARM
5-7 years... 7/1 ARM
7 years + ... Go with a 15 year or 30 year fixed
Being that you are looking to go with a no money down loan, you may have to pay PMI (Private Mortgage Insurance). Check with a loan officer to see if you can avoid this. Good Luck |
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Searchlight Crusade
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As of Friday, there was no reason to choose anything other than a thirty year fixed rate loan. The rates for that were essentially the same as for all the shorter term adjustable loans. The only reason not to do this is if you cannot really afford the property, in which case you should walk away before you close. Now to avoid PMI, you should only put 80% on the first, and the remaining 20% of your loan on the second. Believe it or not, as of Friday a 30 due in 15 was the cheapest thing there was there, also.
So you have a first at 6.125% for eighty percent, or $327,200. Payment $1988.11. This is if you got some credit for closing costs from your seller, because that loan takes one discount point to get at the last rates I saw. Otherwise, you're looking around 6.375 at par with closing costs, 6.625 for zero cost.
A second for the difference, $81,800, at 8.75% gives a payment of $644.99.
Not counting property taxes and homeowner's insurance, you look overextended by what you told me, as $1988.11plus $644.99 works out to $2633.10. A decent insurance policy will add at least $100 per month to that, and property taxes around here about $425 or more.
So assuming that $2500 is really all you can afford, get out while you can. |
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mixemup
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Fixed rate, simple interest loan.Try an FHA loan for first time buyers. Good luck! |
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caddy girl
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conventional with a fixed interest rate. There should be to higher interest rate due to your excellent credit score |
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Mortimer Pratchett
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Your looking a 2+1 condo that is probably worth 300-325k with what you can afford per month. |
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