0
What does a down payment really mean, and how does it work?
homesavingsfund
A down payment is a portion of a home's selling price which must be paid up-front, in cash, separate from the amount you'll be receiving as a down payment loan. The down payment can be almost any amount, although typically they range between 5%-20% of the home's total value.
The purpose of a down payment is primarily to provide security to the seller and to the lender. If someone puts down a substantial amount of money up-front, they're less likely to default on the loan - which is costly for everyone involved. Also, the down payment demonstrates a basic ability to pay, reassuring the seller.
For more information and to learn more about down payment loans and solutions, please contact Home Savings Fund today.
homesavingsfund
Add your answer:
Earn +20 pts
How does a balloon payment calculator work?
The balloon payment calculator takes into account your balloon payments, or your large usually last payment of your loan, and meshes it with your current loan and additional payments.
How does chip and payment work?
you buy chips and pay the person for the chips
How will a consolidation loan effect my finances with $20,000 in credit card debt?
A consolidation loan will pay off all of your bills and give you one payment. This program will only really work if you cut up your credit cards and have discipline.
You told your finance company that you can make the payment in 5 days but they will not work with you Is there anything you can do because they are telling you they are going to pick up the car tonig?
NO, sorry. If the company will not work with you there are no other options but to release the car to them. Another Option Hide the car until you have the payment and you are square with the finance company. They can't take what they can't find. If you can't hide the car, remove the coil wire when you park it. It may not stop the repo man, but it will slow him down.
What if the cosigner refuses to sign the auto loan but the down payment is already made?
Hummm --- co-signer NOT a co-signer! -- your options are few - 1) GET ANOTHER CO-SIGNER QUICK, or 2) GET YOUR DOWN PAYMENT BACK QUICKLY or 3) Work w/dealer to arrange payments for your new car! If you've a job - ask (beg) your employer to tell car dealer that your stable in your job and you will not lose your job unless you can't get to work because you got no car! GOOD LUCK, and choose better friends to be your Co-signer next time.
What is the meaning of this sentence You have got neither the payment nor new work yet?
I take this sentence to mean: You don't have the payment or the new work. You don't have the money or the work.
Does a mortgage down payment calutalor really work?
Yes, a mortgage down payment calculator will allow you to determine the appropriate down payment for a specific situation. The calculator will provide different down payment amounts based on the other mortgage data (amount borrowed, interest rate, term, etc.) to help you decide the appropriate down payment for your situation. Not strictly so. Down payments are set by the lender and reflect the lender's degree of confidence in the borrower's ability to repay. A borrower should put as much down as possible because they avoid interest on that part of the purchase price. One may consult a calculator but the results are not binding on the lender.
What does get down to business mean?
get to work
What does get down to work mean?
to stop delaying and begin the work
Does lying down doing homework really help?
It depends on what you mean by "lying down." If you just mean flopping down on the sofa or bed to work, you certainly can still concentrate and do your work that way. However, if you mean curling up and getting all snuggly and comfy ... you'll probably end up falling asleep!
How does a car payment calculator work?
Car Payment Calculators estimate the monthly payment you'd be required to make based on the cost of the automobile, your down payment, and interest. Once you enter the cost of the vehicle, your down payment, your interest rate and the length of your loan, it will give you an estimate on what your monthly payments would be. There is a helpful calculator here: http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx Hope this helps.
How does a reverse mortgage purchase work?
Similar to a purchase with a regular mortgage. The difference is that you need a large enough down payment to qualify, and you won't ever have to make a mortgage payment on the new home.
What does the idiom down to business mean?
To do work and focus
What should i do about a car contract from a used dealership I made it clear that i did not know if i could came up with the down payment now their giving me a hard time. What should i do?
By taking delivery of this vehicle you are agreeing to the terms of the contract. If you could not meet the down payment requirement then you should have never taken delivery. You can try talking to them to work out a payment plan of some sort.
What is payment for work?
Payment for Work means having paid for the products or the service that have been rendered by an employee of a certain business.
How much does a cartoonist get paid hourly?
Well it really comes down to how much work you can get accomplished. For example you don't just get paid for showing up for work but you also have to be able to show how much you got accomplished for that day. The range of weekly pay is $200-$1,200 and this all comes down to how much time and effort you use in your work. Most get paid more and others get paid less. It usually depends on how good your work is. An hourly pay for a cartoonist is around $20, the more hours you work the more the payment.
What does clunky mean?
it means that it's really bad or that it dose not work.
