 Can I buy a house even though I'm only 18? |
Will there still be a problem if I pay cash? Is there an issue if I have so little credit willl it still affect me?
Additional Details
If i go away to college will it affect me even ... |
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 What is the average monthly mortage payment for a house that costs $350,000? |
Additional Details
I am buying a 5 bedroom $350,000
house and i need to find out what the average mortage payment is.
I have a monthly income of $8,333.40.... |
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 Realtor doing her job? |
| House has been on the market for 3 weeks. We have only had one showing (by another realtor from out of town). She has not shown the property once. The feedback from the Realtor open house, and the ... |
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 What has been your worst experience renting a house? |
Either as a landlord, tenant or in a group or share home.
It was inspired by this story in the media.
http://www.nydailynews.c... |
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 Can I try to sell my house without a realtor before my house goes into foreclosure? |
| I'm getting ready to lose my house and I was wondering if it is possible to try to sell my house on my own. What is involved? I don't want to involve a realtor because I owe to much on ... |
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 Is 12% interest too high? Owner financed home.. please help!? |
| We already moven into a home that is going to be sold to us in a rent to own term. At the begining the agreement was 80,000 with monthly payments.. no interest.. then they told us that price changed ... |
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 How do I attract good tenants? |
I intend to let my flat to tenants who can be trusted to pay the rent and respect the property.
I am completely new to letting property and assumed that having modernised, redecorated and ... |
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 I'm in the market for a house (first time). What are some pitfalls to avoid? |
| Also how do I shop for the best/lowest rates? I've heard that the more your credit is checked, the lower your beacon score drops.... |
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 How much do you pay for rent? |
| I live in a 3 bedroom, approx 900 sq. ft apartment in Regina, SK, Canada (population 200,000) and I pay $980/ month, heat and hot water included. I think that's the most I would pay for rent on ... |
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| How to write an adress including P.O box# and apt#? |
It is a USA adress. ok here is a sample lets say it is given to me like this:
942 E. Ponce de Leon Aven.
CA, 30046
p.o.box #95-B
Apart. No. 08-B
How should I... |
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 Is this a breach of contract? |
| We rented a house to a couple who wanted to buy it but needed a little time to get financing in order. we agreed to a contract for deed or lease with option. Well, now they are divorcing and we are ... |
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 We lease a home, can the owner enter the house after giving notice even if we are not home? |
| it's a holiday weekend, owner of home is passing through town and wants to see her house. we (the tenants) will not be home. does she have the legal right to enter the home while we are not ... |
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 Our house is finished being built, but its not what we were promised. What should/ can we do? |
| We chose our floorplan and lot in a subdivision in knoxville tn. During planning, I stressed the issue that we wanted our home to have steps going up to the front porch. We also made sure the home ... |
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 Loan officer making a deal behind our back? |
| we're currently in the process of getting an FHA mortgage loan with bank of america. for some reason, it's very important we tell our loan officer who our realtor is. my boyfriend thinks ... |
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StacyGirl | How to change from a 30 yr mortgage to 15 year? |
I bought a house a year ago and am in a 30-year mortgage. I was just looking at a 30 vs 15 year calculation and the 15 year mortgage is only about $100 more a month.
Can this be right? The loan is for about $63k.
Can I change from a 30 year mortgage to a 15 year one? If so, what all do I have to do?? |
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Jenn
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You have two choices. You can refinance to get a 15 year mortgage or you can just pay extra on your principle so that you pay it off in 15 years. |
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Apeke
 |
I was in the same situation with you few years back, I think there is a technique to quickly do this easily, I came across an article last year
You don't have to physically change it from 30 years to 15 years, you can actually use the paid-for portion of your house to pay off the unpaid-for portion of your house.
I believe the more you pay the less the year to pay off your mortgage
You can get more info at
http://mymegaportal.com/howto/payoffyourmortgagesooner.html |
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geistswoman
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The loan amount isn't that large, so yes, it is possible. You just have to go to a mortgage lender (bank or other company) and refinance your existing 30yr mtg. This just means, you will pay off your old mortgage with the new one. Just be careful... you just took out the 30yr mtg a year ago. Did you pay any fees? Points, closing costs, etc? You will have to pay these again. Sometimes it pays to wait a while. A good rule of thumb.... if the rate is 2% lower than your exisiting rate, it may be a good idea. If not stay put.... you can always put the $100 extra towards principal each month. Just by making one full mortgage payment extra per year and putting it towards principal, can knock years off your mortgage. |
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JULIE H
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Actually you could pay it off faster if you left it like it is. Don't go with a 15 year mortgage. Make extra monthly payments and make sure and ask that it goes straight to the principal.
Every loan has a worksheet called an amortization sheet. On that it shows every payment you make and what goes to interest and what goes to principal. If you can afford a higher payment take that money and start paying it on principal.
You can use the link to the calculator to figure out how much this will help you to get out of paying interest... |
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golferwhoworks
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just send in an extra check every month for the extra $100 and in the memo mark it PRINCIPAL ONLY and you will pay out in 15 |
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David Beasley
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Hmm... that doesn't sound right.
$63000 15yr amort at today's rate of 6.0% P&I = $539.60.
$63000 30yr amort at today's rate of 6.375% P&I = $398.93
$141 difference.
I'd love to sell you a refi, but if you already have a good rate on your 30yr fixed (7.0% or less) I'd say just send in the extra $141 instructing the lender to take that $ off your principal.
Best of luck! |
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Mark C
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Just send in the extra $100 a month with a note " pay toward principle " and watch the mortgage melt away. |
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gofish1985
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that doesnt seem right the mortgage i got for a 15 yr is 1,940 a month if it was 30 yr it would of been 876.21 a month its like a 1,000 dollar difference something is wrong check it out again and this house is 2,000 sq ft in a good area here in michigan |
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Terry S
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Pay it like a 15 year mortgage.
It will then be paid off in 15 years. |
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frak1a12345
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Yes, it can be right. For that amount of principal the difference is not great.
The fastest and easiest way to change is to simply make extra principal payments every month to your lender. Leave your current mortgage alone--don't refinance. Refinancing is expensive and the banks love it. One thing that is required of you is to have the discipline to make those extra payments rather than decide to buy a new car or take a foreign vacation or etc.
One upside of this plan is that should some money problem arise in the future you have the flexibility of going back to your original monthly payment and conserve your cash by not making extra payments.
One thing you should check in your current mortgage is a prepayment penalty. Most mortgages have a penalty clause but they either disappear after a few years or place a cap on how much extra money you can repay in a year. You want to avoid penalties--it is like throwing money away.
I paid off my 30 year mortgage in about 18 years by using my yearly profit sharing check to pay down the mortgage. In other words rather than small extra monthly payments I made one large extra payment per year--it worked for me! Good luck!!! |
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MsBurgundy
 |
You'll have to refinance to a 15 year loan. Or simply make monthly payments like you are paying the 15 year loan. If you can add that $100 more per month, your 30 year will be paid sooner than 30 years. Make sure you don't have a pre payment penalty first, though. |
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