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How soon can you put money on the principal if you just bought a home?
Wiki User
∙ 8y ago
You will add money to the principal in your first payment. It will be a small amount, but that is when you start. Your statement should show how much the bank puts toward principal and how much goes toward interest. Over time, more money will be applied to the principal. You can also make an extra payment or payments during the year; you just have to specify that you want it applied to the principal when you make your extra payment. You should see how to do this on your statement. It's been said that even if you make just one extra payment per year, you can pay your mortgage off eight years early.
Wiki User
∙ 8y ago
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Is it legal for the insurance company to hold the remaining balance of your claim to apply to your loan as principal payment?
In any case you get your money don't you? If the insurance company paid the principal of your loan than that means you don't have to so the money you would have paid is now yours...just as if the insurance company had cut you a check. Remember, until the loan is paid off the lender's claim to the property is superior than yours. If you are not going to use the money to repair the damage, the lender will want the loan principal reduced by a proportial amount. The most usual arrangement is that the bank will hold the insurance payment in an account for you and use it to pay the contractor after the repairs have been completed.
What are some good ways to build equity in your home?
There are different ways to build home equity in your home. You could start by making a larger down payment than is called for, for one, if you are just purchasing the home. Other ways include paying extra amounts to get the principal down on your home loan, and it also helps to make improvements to the home, such as new flooring, paint, siding, etc.
What is the definition of an amortized loan?
An amortized loan is just a basic loan where the principal and interest are paid on a monthly basis. Usually, the majority of the interest is paid first, then the principal.
Can you get a mortgage to buy a vacant lot?
I just bought a vacant lot with money I borrowed (a personal loan) from my credit union. The bank and mortgage company I checked with said they no longer do land loans.
What is the difference between a mortgage and a home equity loan?
The difference between a mortgage and a home equity loan is that with a mortgage you're just being "loaned" the money and will be paying it back over a period of them and with a home equity loan you can withdraw funds on a needed basis.
Can you drive a car you just bought home with out plates?
not legally
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If you have papers saying you just bought the vechicle and need to bring it home then you can do so. just have the papers in the vechicle.
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I just bought a GameShark from Ebay.
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Not very smart. You could be caught and ticketed.
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Yes they did. They bought a ticket just as you would today to ride a train.
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Yes you can.. I just sold mine.. But you wont get the amount of money you bought it for,. You will get the amount of money with what it is worth now.
What is the simple subject and simple predicate in this sentence Sean and Michelle just bought their first home?
The simple subject is 'Sean' and 'Michelle', and the simple predicate is 'bought'.
Why does money not bring you happiness?
Because not everything can be bought-such as love and friendship and these things are scientifically proven to bring you happiness. Money can just buy everything you want but the true happiness comes from the people you love and care about and that can't be bought.
In what city in Florida did Tiger Woods just buy a house?
Tiger Woods just bought a home in Jupiter Beach Florida
How much money is the 1947 tube map worth?
I have just bought one- it was £115. Obviously less to sell.
What money bought US part of Mexico?
Just by canceling debt owed by Mexico. It was 10 million in 1853 dollars.
Are hobos monsters?
no they are human beings just like u! they are just people that have no home or money.
