What would you like to do?
Do you get your down payment back when you sell your house?
in a way yes. you should sell your home for the market value which is what the home is worth this includes what you paid as a down payment since it lowered the amount that you financed. the only thing that you lose is any closing costs that you must pay plus commissions. you get to keep the difference between what the home is worth and what you still owe.
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Are there any programs that give down payment assistance for a vehicle like they have for buying a house?
There is a program that assists anyone in the country with borrowing cash for a down payment. There is a great loan product designed to help people who need extra cash now… to pay for the down payment of a vehicle. There are about 150 lenders that bid against each other to provide the loans. These loans usually do not require credit checks or hard inquiries or faxing of identification documentation. The applicant gets a decision in 3-5 minutes and the money can be direct deposited in as little as 2 hours. The only Down Payments Assistance programs for the purchase of a car are directly associated with the automobile manufacturers finance company such as Chrysler Credit, Ford Motor Credit or GMAC. Currently they are running "Down Payment Assistance" rebate programs. These programs require that you purchase a NEW vehicle and finance it with the dealers finance company. For more information, see your GM, Ford or DaimlerChrysler dealer. However, if you do not have the down payment yourself, it may be better for your personal finances to buy a used car--lower price over all, shorter payment time and less expensive to register and insure. Easy money is just that: they do not consider your whole situation as they are in the sales business.
You can sell it but you need to obtain enough to pay off you creditor so you can obtain title and change it over to new owner.
Marias new house cost 235000 The down payment was 0.5 of the cost of the house How much was the down payment?
No. What you invested in, or for, which is then used for something else...basically doesn't effect the taxability of that investment. If you had it in a savings account, the i…nterest it paid would have been taxable too. Or if you lost money of the stock, it would have been avail as a taxable loss...etc.
Can you back out of a car deal after the papers are signed but the cash down payment was not given and the car was NOT taken off the lot?
More Than Likely. As long as the papers have not been sent in or filed on a government PC, then there should be no problem unless the car dealer is obstinate and problematic….
If you have placed a down payment on a car but have not sign any contract and you decide you don't want the car any more can you get your money back?
Yes ... If you have not signed any papers (repeat ANY) ... hopefully they gave you a receipt for the money given as a down payment ... otherwise, you may be left holding… the bag for any proof.
Absolutely not. You simply took money from the bank and put it in "another" savings place. Basically, only the interest on your mortgage will be a deduction (closing cos…ts and such aren't either, and improvements or repair to your house aren't either again).
Answer You don't ever have to put a down payment down (unless your lender bank requires you to), however 20% of the value usually is the norm. We bought our ho…use with NO down payment.
Most dealers have you sign a "spot delivery agreement" (usually within the contract) that states if they cannot get the amount financed from the bank for any reason then… you are obligated to pay the amount in full or return the vehicle.
13400 is 20% of 67000.
The loan amount will be $190,000 and a down payment of $10,000 is required. To calculate this, find 5% of 200,000, which in an equation is .05 times 200,000. Then subtract… that total (10,000) from the price of the house (200,000) to arrive at 190,000.
If you are selling your house do you have to pay off your second mortgage or can you keep making payments?
When you sell your home all liens against the property have to be paid so you will have to pay off the second mortgage at the closing.
I would say yes, but not a very big house.
Can you sell a car back to the dealer if you can't keep up payments for a person who is incarcerated?
No. The dealer (or bank that financed it)technically owns the car til it's paid for. If it's become a hard-ship for you, simply give it back. It becomes a 'voluntary reposses…sion' for the person incarcerated, but that sounds like the least of their problems. Good luck. FYI, a repo is going to damage the borrower's credit terribly.
Can the down payment on a house come out of the home loan if you only have a small amount to put down yourself?
Yes, let's say you have a down payment of 8%. You would take out a mortgage for 80% of the value of the home. You would then take out either a second mortgage or home equity …loan for 12% of the value of the home. You avoid paying PMI, but your second loan is usually a 15 year loan with a flexible interest rate of prime + 1.5 so your monthly payment will vary depending on where prime is. There are other ways, such as an FHA loan as well. Another possibility depending on the relationship between buyer and seller. You can do a "sellers held back 2nd mortgage". A sellers 2nd is basically just like any other 2nd mortgage but it is held by the person selling the property, it's a lien like any other mortgage against the home. The buyer and seller set up a payment plan for a 3 of years and interest rate and it is included in the sales contract. This benefits people with poor credit who can't obtain enough financing, say you need 90% but you only qualify for 80%. Then you can get that extra 10% through a sellers 2nd. The seller ofcourse must agree to it and the bank must also ofcourse allow sellers seconds. The other option is a "Gift Of Equity". A GOE can be done between family members, it's like a sellers second except you don't pay back the GOE. The example is basically, you need 90% you qualify for 70%. The seller gives you 20% of the equity of the home as a gift, so on a 100,000 dollar home it works like this. They are not lowering the sales price, the price stays at 100,000 but they give you 20,000 as a gift of equity. So while you only qualified for 70,000 from the bank that gift of equity has now given you the ability to purchase the home without laying out anything about your 10%. The catch is that this can only be done between blood relatives.
Can the cosigner sell the house if his name is not on the deed and the primary borrower has missed 3 payments?
No. If you are not on the deed, you can't sell the property. The only "right" you have as a cosigner is the obligation to make the payments.