It depends on several factors besides the loan amount. Primarily the interest rate and loan term(length of the loan), but a mortgage payment can include other items including escrow payments for property tax and insurance and possibly PMI.
To keep it simple though, a 150,000 mortgage at 4.5% for 30 years would be $760.03 for your principal and interest payment. If you could afford to do a 15 year loan, at the same interest rate, the monthly payment would be $1147.49 and you would save nearly $70,000 in interest.
The answer depends on the interest rate and the length of the mortgage. You can build a chart at the related link provided below.
If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.
No you don't have to mortgage your house, however if you do mortgage it, you could invest the available cash into a Money Market Mutual fund and cut you monthly payments to almost nothing, or actually make a profit.
NO, not unless it is a total loss. If your house is being repaired by your insurance policy you must continue to make your mortgage payments.
Of course. Until you pay off the mortgage loan, you have to pay payments on the home.
The answer depends on the interest rate and the length of the mortgage. You can build a chart at the related link provided below.
The mortgage payments must be made or the lender will foreclose the mortgage.
If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.
No you don't have to mortgage your house, however if you do mortgage it, you could invest the available cash into a Money Market Mutual fund and cut you monthly payments to almost nothing, or actually make a profit.
NO, not unless it is a total loss. If your house is being repaired by your insurance policy you must continue to make your mortgage payments.
Of course. Until you pay off the mortgage loan, you have to pay payments on the home.
Based on a 30 year mortgage with a 4.5% interest rate, you could afford a house that was worth $230,025
They are payments you make on your house loan every month. If you are looking for specific mortgage payment amounts, there are many calculators out there to use. I will include one in the related links. Payments can be fixed or variable depending on the terms of the mortgage. In some instances there might be a balloon payment at the end of the term.
No. A mortgage is a form of loan to buy a house. As with any form of loan, if you can't keep up the payments, your bank/building society can reposess the house.
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You will be able to keep the house provided you keep making the mortgage payments. In a chpt. 13, if the 1st mortgage amount is higher than the house value, you can strip the 2nd mortgage and treat it as an unsecured creditor. If the house value is higher than the 1st mortgage, then you will need to keep paying both mortgages.
A mortgage calculator will help you see how much your house payments will be along with the other house hold expenses and what price range you should be looking in.