 My rights as a tenant? |
| My wife and I recently moved into our first house with our 6 month old daughter. It's a house owned by another person whom we are to pay rent to. When we first moved in, the land-lady had told ... |
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 Are there real estate agents in CA who aren't lazy, greedy creeps? |
I've never heard of one who actually helps, who gives a rat's behind whether someone is getting a bad deal or not. They all just seem to want to take the commission and run.
A... |
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 Is it always advisable to take out a mortgage when buying investment property or not? |
| When buying land as an investment property, is it advisable to buy it cash if one can afford to or is it alway better to get a mortgage?... |
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 Is buying homes for back taxes a good idea, do you have to be a "handyman" to be able to make $ doing it? |
| i mean buying ones cheap for back taxes that are older, and fixing them up yourself, or hiring someone to do that? is that a good way to make money?... |
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 What do I need to to before I even look at purchasing a house? |
I know a fixed rate mortgage is better than a variable (9 times out of 10).
I have looked at some of the calculators online and am having trouble with the tax and insurance rates, as I ... |
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 Can I be evicted when I am not on the lease..? |
| I moved in with a guy, who is not on the lease. His boss' name is on the lease, and now he's been fired. We're late a couple days, and the landlord is threatening to change the locks. D... |
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 Is there any way to get a house from a seller that has already accepted a bid from another buyer? |
| We were in negotiations to buy a house and the sellers received another offer. They asked for a "highest and best" offer, and we were outbid. Yet, we still want the house and are wondering ... |
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 What Happens If I Sneak In My Dog? |
| If I rent a unit that doesn't allow pets but sneak in my dog what happens if they find out?... |
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 What are some sure signs of being in a predominantly upper middle class neighbourhood? |
| Note: Upper middle class usually implies people who hold a high level profession (eg. surgeon, Judge, university lecturer), or a job in upper management (company vice presidents, senior investment ... |
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 When do you do a home inspection? |
| I just want to know at what point do you do a home inspection when buying a home? We are currently in the process and I need to know when's a good time to have one.... |
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 Landlord refused to return deposit. Sue or not sue? |
| I live in CA, and my landlord has withheld my deposit for two months when he's supposed to return it within 21 days. I have cleaned my apartment, gave him 30 day notice and forwarding address ... |
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 Military couple trying to break lease!? |
| I was trying to figure out how my husband and i can break our apartments lease in California. We moved into this apartment complex in April 4, 2008, when he got out of the navy. First of all we did ... |
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 Can you buy a house filled with mold? |
| and does the city, state, or government do anything to prevent a house from being sold or rented if it has mold?... |
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 Is there such a thing as a real estate company that will buy your house if they don't sell it for you? |
| Someone told me this type of company does this so I was just wondering.My real estate man didn't mention this service to me when I signed up with him.My 6 months will be up in Nov,so far lots of ... |
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 Do you think that mortgage rates will drop in the next 30 days? I know it's not a sure thing, but I'm curious. |
| We're planning to refinance our 7-year ARM (5.125%, expires 12/2011) and 7.9% 2nd mortgage. Right now, we can get it at 6.25% in one mortgage, but we were hoping for a 6.125 or 6% mortgage (... |
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 What is the best way to get about $30,000 for a down payment for a home? |
Additional Details
OK people,
I live in South Carolina and make $45,000 a year. I could save about $2,000 a year with no problem and can afford a $1,000 a month payment for a ... |
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 What are the pros and cons about living in a mobil home? |
| What is it like? Is it as bad as the TV says it is? I saw the inside of one today and I thought they were pretty nice. So why don't they give positive advertisements? Please any info is great! T... |
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 I think the goverment should be held responsible for all the people who took on? |
| morgages at extortionate rates in the past 10 years the British Goverment should be made to pay these families that can no longer afford to stay in their homes and for allowing Developers to charge ... |
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micktravis | First time buyer with no deposit? |
I'm considering buying my first property soon and have no deposit to speak of, only a bit of money to spend on moving/furniture/fees etc. I earn an ok salary but how would having no deposit affect my monthly payments? |
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Freeport77541
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a lot of it is going to depends on the appraisal of the property versus what you are asking to borrow and your credit history.
IMHO i would save money and/or get a part time job to put down the 20% and do a standard 80% mortgage. This real estate market is going to keep going down and you never want to owe more on the home than you could sell it for, look what is happening to the people in california that thought a home was a heloc atm machine |
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Ollie
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Hi you need to find a bank that will give you a 100% morgage.We got one & they did not charge us extra.Good Luck |
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Blokheed
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Well it would boost them quite significantly and you would have to take out a 100% mortgage - meaning it would take you a lot longer before you could start realising any equity. |
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MLaw
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If you can find a 100% mortgage these days, congratulations. |
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Love life and share happiness
|
Now is the time to bargain and bargain hard.
BARGAIN a 35% reduction in the price and then formatt the deal as "seller pays deposit" this is quite common nowadays as the property market is in free fall.
Find a motivated seller, get your discount and get INSTANT EQUITY of 35%.
Then it is the same as you having a 35% deposit so you will pay the lowest interest rates.
And if property continues to fall in value (it will and you have to keep paying the interest while it does) you have some cushion before you would go into negative equity.
If you buy now at 100% of "market" value you will go immediately into negative equity and have no incentive to keep up repayments so a bank should not lend you 100% unless (unless it is northern rock and is on the fiddle).
Good luck in serious HARD bargaining in these challenging times for property owners ! |
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leambi
 |
Contact an independant mortgage broker who will search a panel of lenders who offer 100% mortgages for you, you will probably end up paying slightly above average interest rates. The mortgage broker that you use will offer advice for what is best for you and all advice should be free, a reputable mortgage broker only charges for arranging the mortgage so there shouldnt be any up front payments and you wont have to pay them anything if you dont use them for your mortgage. You need to make sure that you have the best possible credit rating other wise you stand no chance at all of getting a 100% mortgage, make sure that all bills are paid on time and that you have no ccjs, defaults or missed payments as this will effect your credit rating. 100% mortgages usually have a larger arrangement fee as well through the lender but that can be added to the loan. |
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keef
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Bit more interest on 100% mortgage. I cannot see why not if you are a regular earner, probably fall over to lend it to you.
Many years ago I had a 100% mortgage, they tend to look down their nose at you I cannot see why as you are paying extra and boosting their profits. |
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Max Power
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You either go for 100% mortgage , which would only mean a small monthly increase, or borrow the deposit and suffer an increase monthly payment for the term of the loan. I would advise you to see a broker as this is a major commitment |
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Lenny
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You might be better off buying a new home where they usually offer perks - cash back, deposit paid etc.. Depending where you are look at the major house builders web sites and see...Taylor Woodrow (think its Taylor Wimpey now), Barratt Homes, GallifordTry etc. |
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Butternut27
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try a 100% mortgage but honestly this is not a good time to get this...if there is a downturn and its now looking very likely you will be in negative equity...and that's when you begin to loose your property...can you not start saving or borrow from family, buy with a member of family or a friend?
Obviously 100% mortgage monthly payments will depend on what type of product you choose whether it be fixed, variable , tracker etc
Seriously, this is not the time for such risks... |
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Terry S
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First, check with your state for any first time homebuyer programs they may offer.
Arizona has an awesome first time homebuyer program.
Here are the details for Arizona.
http://www.welcome2arizona.com/home/first_time_homebuyer/first_time_homebuyer.php
Terry S.
http://www.Welcome2Arizona.com |
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