 So confused on buying a house!!!? |
| We don't know what to do...where to start. Anybody have any "learned from" experiences they wanna share? Do's, don'ts, watch out fors...any piece of info will be helpful.... |
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 When is the right time to increase your tenants rent? |
| I currently have tenants renting my house. They would of been in the property for a year in January 2008. Is it acceptable to increase the rent by 5% in January?. I have a mortgage on the property.... |
|
 Does the landlord need to have our key? |
| Do we have to give key to the landlord if we change the locks? My landlord comes into my house and looks through personal information and i can tell because when the landlord comes in she moves ... |
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 Going to court over back rent.. will we win?? |
| When we first moved into this house, our shower wouldn't drain. It would overflow before we even got out of the shower so we figured it was clogged. Well, we told the landlord and she bought ... |
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 Buying a house question? |
| if i earn just over 13 grand a year is there any realistic chance i could get a half decent mortage?... |
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 How to deal with tenant doesn't pay rent? |
| I have a tenant who rejected to pay the rent for this month. I have already followed BC tenancy act to give him a 10 day notice. According to the residency act, he has to move out within 10 days if ... |
|
 What is a reasonable % rate for a Real Estate Agent to charge? |
| I'm located in Southern California and after speaking with my Realtor, he gave us a 5% commission rate, 2% for him and 3% for the other agent.... |
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 Is it true one can buy a house with 30% down no income verification? |
I heard this from a friend and was wondering if it is true?
30% down payemt on a ... |
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 How can I sell my house faster? And make it more likable to the buyer? |
| My house is in Palmdale, California. It was built in 94' and is in great shape. Four rooms, tile, carpet, great condition. My real estate agent is not doing a good job in promoting the house. I ... |
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 Can I get a home equity loan with a credit score under 500? |
| My husband and I own our home free and clear and have been having trouble getting financing because of our credit score. I am guessing that our home is worth approx $125k, I am guessing. (our ... |
|
 How do people afford all these big expensive homes? |
| I have worked hard all my life and can not afford 300 400 500 or more thousand for a house. What I am seeing in RI and MA is 3000-4000 sq foot homes with big tags. A 2000 sq ft home is still ... |
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 1st time Home buyer, good time to buy? |
| My husband and I are looking into possibly buying a home here sometime soon. I have been told by everyone that this is a buyers market right now. Do you agree? If not, can you please explain? I ... |
|
 Is a Rental lease invalid if the Landlord made me sign my not yet married name? |
| I signed a lease 6 months ago on April 30th.. ok.. So my landord made me sign in my married name, even though I wasn't married yet. I got married on May 16th... Does this technically make the ... |
|
 Is it really possible to buy repo homes without being an Real Estate agent? |
| How do you go about doing it? I am looking to invest in property but am unsure of how to go about it.... |
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 What to do about noisey neighbors? |
| I live on the top floor of a two story apartment. We're in lease until December. The people in the apartment below us are college students and they have parties aaaaaalllll the time--like every ... |
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 Mortgage co-signers question? |
Hi,
I am ready to buy a home, but I am pretty sure I would need 2 co-signers on the mortgage. Does anyone know if this is possible? Or is it limited to only one co-signer? My credit score ... |
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genebean | Then what is the perfect mortgage to have? |
Answer without out the bull, because of all differant situation.
Like every body is not the same. |
 |
 
Mark H
|
Fixed rate for either 15 years or for 30 years. No prepayment penalty.
And that is true for everybody.
The lowest costs for the loan. (Can be anywhere from zero to $14,000.000, so need to shop around and ASK.) |
|
Open Book Advisors™
 |
The perfect mortgage is a paid off one!
The perfect mortgage for you depends on whether you are buying to live in forever or plan to move within 5-7 yrs as most do.
It does make a difference. No bull.
The perfect mortgage for me was a 15 yr fixed @ 4.25%.
I plan on living here forever and want to have no mortgage by the time my youngest graduates highschool....
What are your goals..............then we can tell ya! |
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TheMom
|
If you are investing to resale quickly then the lowest possible interest is what you need, with no pre-payment penalty of course.
Most people have mortgages for their residences though, and a fixed low interest rate is best for the majority of people. |
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mjammy1978
|
5 year fixed mortgage ÂŁ600 monthly
no penalty fee's
portable mortgage |
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Sharon C
|
You say no Bull but to be honest everyone different is the true answer. For example many of the answers already given talk about a fixed interest rate, without penalty if you get out of it?
Lets be honest, all fixed rate loans will have a get out cost. Banks are not in the mortgage game to give you money, they want to make money so the chance of you gaining from a fixed rate loan is very slim. However, if you have a tight budget and can not afford for the interest rate to increase or if you just need to know what your repayments are each month then a fixed rate could be better for you.
If on the other hand you want flexibility and want to overpay or redraw from the loan then perhaps a variable rate loan or even a split loan are better for you.
Then there is the questions of what the purpose of the loan is, owner occupied property or investment property? This too makes a difference on deciding the better loan.
So sorry to give you the bull you didn't want but the answer to your question has many different answers. All people can answer is with is an opinion on the perfect loan for them.
This may not be best for you as it depends on your current circumstances, what you want to achieve and what you want from your mortgage.
There are many different products out there so talk to a couple of brokers to get s one guidance with what best fits your circumstances.
Just be aware of the get in and get out costs as these can often turn what looks like an attractive interest rate into an expensive one. |
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Rony
 |
Fixed rate for either 15 years or for 30 years. No prepayment penalty. I found interesting information about your answer & the best options here.
http://all-mortgage-calculators.blogspot.com/2007/07/mortgage-loans.html
Good luck! |
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P. D.
|
So tempted to say "a paid-off one" but you sound serious. The market is so volatile now that it may be wise to look for an adjustable rate, which is cheaper now and resets down the road. Other than suggesting hold out until the mortgage crisis is over, you're always better opting for whatever pays the principle down fastest, provided your home will not decrease in value. A 20- or 25-year fixed is usually the best and safest. |
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Bob D
 |
15 year interest only fixed rate 30 year loan or regular 30 year fixed rate loan... |
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Ember
 |
fixed rate at 3.999%
for a 60 month (5 yr) term - which allows you to re-evaulate should life situations change... like you lose your job and no longer make $60,000 a year, you now make $40000 and you just had a new baby... You will be in on a 25 year plan regardless - this depends on how much you are able to pay a month (if your mortgage is $250,000 adverage payment will be $1500 a month but if you can pay $3000, it wont take you 25 years to pay off your mortgage)
* also you pay less interest if you make weekly payments as opposed to bi-weekly, semi monthly or monthly payments |
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