 Where 2 get $2500 immediately for rent? |
| today i got an letter 4 redempition for an apartment ...n the bill is 2500 thats need 2 be payed by the 5th of december...or we will be evicted....n i hve bad credit..n i need the money cause we have ... |
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 Food costs a month? |
| I've never lived on my own but this summer me and my bf are gunna rent a studio apartment in cali and I was just wondering how much peope would think food costs would be monthly for two people ... |
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 How much rent do you pay? |
| I pay $900 a month for a one bedroom apartment in California. It's not even that nice, the kitchen is really old and there is no diswasher or washer/dryer. I would like to move but it is ... |
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 Should we allow more houses to be built in the u.k? |
it would solve most of our problems. e.g. high house prices
it will help lots of young people but it will impovish many baby boomers.... |
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 Evict or not? |
| I have a tenant who is suppose to have 3 people in her 1 bedroom apartment. Come to find out she has 7-8 people. I pay water, sewerage, garbage. I sent her a letter explaining to her that she is ... |
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 How can you rent a home or apt w/ bad or no credit? |
| I don't have any real credit history. I got a denial letter from a credit card place that said, "Lack of credit history" and "lack of revolving accounts". How can I rent a ... |
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 Can my roommate prevent me from having overnight guests? |
| I live in a two-bedroom apartment with one roommate. As my boyfriend and I are in a long-distance relationship, the only way we see each other is to spend weekends together. We would like to ... |
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 What is 7% of $150,000.? |
| We are thinking of selling our home, my husband isn't home right now, and I am horrible at math. I was just looking over the contract and it says the company gets 7%. Is that pretty good? T... |
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 Having a hard time understand 'rent in advance' pls explain? |
im getting my first place and they ask for a deposit sum and a months rent in advance. and then after ive lived there 4 weeks they want my first months rent.
i do not understand this. how come ... |
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 I am not going to pay then rent. What will happen? |
I am moving out at then end of the month but landlord wants me to pay the next two months rent.
I refuse to pay this, what can they do ? (you cant go to prison for not paying the rent can ... |
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 Can you rent a flat at 16 ? |
can you rent a plat when ur 16 ?
i really dont get on with my mum and shes told me she wants me to move out so i want to know if its possible to rent a flat at 16... |
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 Is it possible to buy a house with poor/bad credit? |
| Bad things happen to good people, a friend of mine is wanting to but a house for him and his family instead of renting and throwing way money every month. Please don't say "clean up their ... |
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 What is the max $ i should spend on a house? |
If my income is 45000 to 54000
Additional Details
I would be in Dallas, TX... |
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 If a mortgage rate is currently at 6.2%, when is it appropriate to refinance for a lower interest rate? |
Additional Details
Thank you for the information. My loan is for a fixed 30 year loan. I have had the home for almost 5 years. I have refinanced already 1 time, to get the 8% rate ... |
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 I rent a house out, and the rent does not cover the mortgage but the house value has increased. should i sell? |
| I have rented a house out for the last three years,the rent does not cover the motrgage but the value of the property has increased,is it worthwhile sustaining this loss or should I sell the ... |
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 Does my landlord have to pay for screens on windows & doors? |
| I rent a one bedroom unit that has no windows but two sliding doors but there are no screens on the doors. It is a ground floor apartment with street access & I dont feel safe.... |
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 I´n building a hotel with 100 rooms, but I´m superstitious.? |
| I have a bad ommen with the number 9, every room with a 9 on it, will have instead a letter, How many 9´s will I have to remove?... |
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wandabeppe | Buying your home outright? |
Having enough money to buy a house without mortgage...is it better to do just so?..or would it still be better getting a loan? |
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MARCO
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Having the possibility, generally, it is better to pay cash and avoid repaying the interests of a mortgage...however, if you have just enough to buy the property, you might consider paying 80% of the value of the house and getting a small loan. By doing so you would have some money saved for a rainy day...which you could put into an ISA and make up for the interest that you pay on the loan.... |
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Janx
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It may be more advantageous for you to put a large downpayment toward the purchase of the home with lower monthly payments, and allocate the additional monies you would have used to purchase the home outright into investments.
A financial planner will be able to crunch the numbers for you, and give you the best advice for your situation. |
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Strategic Sourcing Expert
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It depends. There are really good tax write offs for your mortgage, that you can take year after year.
You should find out what the cheapest interest rate that you can get for a mortgage is. Then calculate how much you will pay in interest each year.
Figure out how much money you would save in taxes (an accountant can help) based off of how much you paid to the mortgage company. (for instance, you might have a $14,000 deduction in your annual wages based off of a $200,000 mortgage) - which would probably equate to $3500 a year in cash.
Then figure out if you had that money in the bank instead of buying the house, how much you would earn in interest. So if you could have invested the $200,000 at 5% interest, you may have earned $10,000.
That will give you your answer. |
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angela R
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I bought my home outright.....I am so glad I did.....I don't have to worry if I lose my job, I won't lose my house.......I don't have to deal with a mortgage company or making monthly payments.....I feel better about owning my home free and clear.... |
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Martin14th
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If you have any other debts then you are better having a mortgage which will be at a lower interest rate than virtually any other form of lending,
The other advantage is that during the life of a mortgage the bank/building society will hold the deeds to the property, and they will look after them nice and secure for free. Once the mortgage is paid off they become your responsibility |
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Social Science Lady
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The only reason for someone in your position to have a mortgage, I imagine is if you wanted to live in a much more expensive house,than you have the cash for. Pay cash, you will have several hundred pounds a month more to live your life with. |
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MB
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There is no simple answer - it depends on your circumstances.
Do you have a need for spare cash? If so, you probably don't want to use all your cash top buy outright.
Contrary to another reply you definitely do NOT get tax breaks on mortgages.
You could actually MAKE money by taking out a mortgage though if you are willing to take some risks. For example, you could get a mortgage at an interest rate of 5%, and then find an investment that yields say 6%. That way you'd be paying 5% to your mortgage company, but making 6% on the cash that you didn't use to buy outright. Obviously (unless you get some kind of guaranteed return on the investment) there is a risk you could lose money rather than make it.
This is a common trick for students - take out a student loan at v. low interest rate and stick the money in a cash ISA. The yield on the cash ISA more than covers the interest rate on the loan. |
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bez
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I think its better to still have a mortgage but have a really small one I dont know what the reasons are but one of my elatives did it and used to pay 50p a month mortgage there must a been a really good reason for them doing this. |
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Jason F
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I bought my last house for cash and leaving aside the fact that I don't have to pay interest on any mortgage, actually buying the house was far easier as I did not have to wait for mortgage offers etc., I was able to hire the surveyor of my choice and he did the survey 2 days after my offer was accepted. Therefore I was able to complete within 2 weeks - it was only the conveyancing that made it take that long, and because my solicitor didn't have to deal with a mortgage lender, his fees were less. Also, as I was a true cash buyer, the sellers accepted my offer which was £20k below another offer from someone who had a property under offer but had to apply for a mortgage. |
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yangbness1
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It totally depends on your financial situation. You have to look at the equity/downpayment you put into it in the balance of the rest of your investment portfolio. It wouldn't make sense to put all your net worth into the home equity and then still have credit card loans, car loans, student debt, etc. The bottom line is that your equity will be returning a rate of return in the short term of what your mortgage rate would have otherwise been. You shouldn't bank any a capital gain on the equity based on recent housing market experiences - the historical returns are in the modest single digits. |
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merrigandesign
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Well so far I have found that it has been beter that I baught the house and property outright. |
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ezgoin92
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Depends on a couple of things...1) what interest rate could you get? 2) what would you do with the money instead? 3) would you have money leftover for emergency reserve?
I wouldn't put my last dollar into my house. If you can get a low rate, it may be more wise to take the loan (80% or less to avoid PMI) and invest the money. If the money isn't in the house you have a lot more flexibility in case of an emergency where you need cash. Plus, you get the tax benefit of interest paid on a home mortgage.
In my situation, we pay extra each month on the house. But we are keeping our mortgage. |
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IloveMarmite
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Why pay interest if you don't have to !!! |
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Ivan
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If you have the money then don't get a mortgage as the interest rates are high, if you need a loan go to the credit union there interest rates are very low. |
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allen555
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Depends on your priorities, however you may choose to keep a small amount of mortgage so the lender has to store them. Paying off most of the mortgage means you are paying off a 'cheap' long term debt. Interest rates are relatively low at the moment, however that may change. You may get a good return on an ISA if you invest to the max. Other high return investments also carry a high risk. |
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Annie M
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I would pay 50/50, thats what I did and used the spare cash for some other things that I needed. However if you are minted and can afford it pay for the whole lot. |
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Mark T
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Depends entirely on your circumstances,location and intentions.
If you are middle aged or older and have no interest in making medium>long term investments AND like an ultra-safe life, then buying your house outright would be a great idea.
IF however you are in the UK or other country which has an ongoing and fairly consistent rise in property value and you are interested in longer term investments and are not too close to retiring age, you might consider perhaps paying just 20% as a deposit - and then doing the same for four other properties all with interest-only mortgages.
If you buy right (at least 12½% discount of fair market value), and purchase in an area of housing need, then you should find that rental covers mortgage payments from day 1 - and may even yield a modest profit.
In the UK and other countries, you can reasonably expect house prices to manage AT LEAST 5% increase on average per annum, and nearer double that if you buy in the right area. After a few years you will have effectively doubled the value of the houses AND be enjoying a GOOD profit from the increased rent.
You can then release some equity from any/all of these houses and enjoy TAX-FREE cash (you don't pay tax on a debt - which is what a mortgage is). The great part is, the increased rental will STILL cover the mortgage payments :)
Or yup, buy your house outright and do nowt :) |
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Kathleen M
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Why would you want to get a mortgage and have it hanging over your head? The interest you would be paying on the mortgage would be more than the interest you are making in the bank. I'd say, pay cash.
Also you would have additional closing fees charged by the lender that you will not have paying cash. |
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charl203
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i wish! |
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