Jan
26
Is it wise to try to pay off a home loan quickly in order to save on interest ?
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Question by Suave: Is it wise to try to pay off a home loan quickly in order to save on interest ?
I am planning on buying a home for 63,000 dollars I have about 35,000 dollars saved up in my bank account is it wise to try to pay off the house as quickly as possible in order to save on interest? I live at home with my parents so I am buying the house as an investment. I plan to put about 25 or 30 thousand down on the house and leasing out the house and I am going to try to pay it off in about 2 years….Is it wise to do this or should I just give a small down payment on the home and just save my money….Banks don’t pay that much on interest 4 or maybe 5 % at most, but I would be gaining about 200-250 above my monthly payment on the loan if I gave a boastfully down payment because my payments on the home loan would only be about 400 dollars and I would be renting out the home for about 650 dollars….Is it wise to put a vauntingly down payment and try to pay off the home quickly…Or should I just give a 20% kill say about 12,000 dollars and then try to pay it off later when I’ve saved up?
Best answer:
Answer by Level Eight
Yes. Pay it off as soon as you can.
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Jan
22
Is it possible to obtain a home loan when spouse works out of state?
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Question by jeddmusicgroup: Is it possible to obtain a home loan when spouse works out of state?
My husband will be taking a job in Atlanta soon, but I will be staying in Los Angeles for a few months until he gets situated. I will be staying with my parents, so I will not be paying rent. Would it be possible to obtain a home loan for a primary residence under this circumstance?
Best answer:
Answer by oahurealestate
You can do that. Normally they want a lease from the person that is not moving into the home.Ask your lender for specific requirements. They may want a letter from your parents or a lease stating $ /month.
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Jan
18
What are my chances of getting a home loan?
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Question by gidet08: What are my chances of getting a home loan?
I am currently 19 years old with a building credit score that currently rests at 669. I have establishing some revolving credit and also have some other bills in my name (electric, car). I also have a full time job that I have been at for almost a year now with a yearly income of around $ 35,000. I was just wondering if anyone had any expertise in the home lending area knowing if I would 1) qualify for a home loan and what amount and 2) what loan would be right for me.
Best answer:
Answer by Kim
best thing you can do is go to the bank and ask.
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Jan
14
What are the steps to buying a home via a va home loan?
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Question by cdngirl80: What are the steps to buying a home via a va home loan?
We’re a military family, and I believe eligible for a VA home loan. We have about 30K in credit card debt, but are hoping to pay it off before applying for the loan. Just wanted some info on what to expect.
Best answer:
Answer by CEESONE
Got to get your VA present first, then apply like any other mortgage. I wouldn’t use a VA home loan if you don’t have to. You have to pay a funding fee ontop of your regular closing cost. But good luck.
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Jan
10
What’s the difference between home loan modification and mortgage refinancing?
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Question by : What’s the difference between home loan modification and bonding refinancing?
home loan modification vs mortgage refinancing, are they the same thing?
Best answer:
Answer by echo4
No. home loan modification can mean lowering your overall debt to the bank/ mortgage holder. Refinancing doesn’t imply this at all.go to my blog for more info…http://home-loans-jd.blogspot.com/
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Jan
2
when applying for a home loan is it best to apply several times the same day ?
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Question by : when applying for a home loan is it best to apply several times the same day ?
I want to apply for a home loan but i dont want my credit score to drop. How can i apply at different places without it affecting my score so I can get the loan.
Best answer:
Answer by chatsplas
Each application will ding your credit
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