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I am not quite sure what the question exactly pertains to, as far as "fees".
If by fees you mean closing costs then yes you can.
In a purchase you can include your closing costs into the loan by getting what is known as a "sellers concession"
Basically the closing costs are added to the purchase price and that is now the new purchase price.
To do that first off you have to get the seller to agree to let you do that. Secondly the home must appraise for that amount.
Say for eample you are buying a home for 100,000 your closing costs are 5,000. The new purchase price with a full sellers concession is 105,000 on the contract, on your mortgage and on the appraisal.
The house must appraise for atleast 105,000, if it appraises for 100,000 then you can't do it.
It has to be written in the contract and the seller must agree because they are conceding they could have sold the home for 105,000 but they are selling it for 100,000 and letting the buyer include their closing costs.
Sellers concessions can cover all or half of the closing costs.
In a refinance you can roll your closing costs into the refinance as long as your loan to value doesn't go over 100%, though some banks will go as high as 125% on your loan to value though I don't recommend it in most cases.
Loan to value is your current debt on the home divided by its current market value.
A home worth 100,000 with a 50,000 mortgage has a LTV of 50%.
What else can I help you with?
What is a revolving loan?
A revolving loan is a facility from which the Borrower can draw funds at any point and in any amount (limited by the total amount of the loan) / timing and amount of withdrawls is not set by the Lender. Any money repaid can be reborrowed at a future date. Usually it is secured against a property.
What is the difference between the principal balance and the payoff amount on a loan?
The principal balance is the amount of money you still owe on a loan, while the payoff amount is the total amount needed to pay off the loan in full, including any remaining interest or fees.
When you take out a loan what do you call the total cost of credit expressed in dollars?
The total cost of credit expressed in dollars when you take out a loan is called the "finance charge." This amount includes the interest charged on the loan as well as any additional fees associated with obtaining the loan. It represents the total cost you will pay over the life of the loan, beyond just the principal amount borrowed.
What is the difference between the outstanding principal balance and the payoff amount on a loan?
The outstanding principal balance is the amount of money you still owe on a loan, while the payoff amount is the total amount needed to pay off the loan in full, including any interest or fees that may have accrued.
What is the term for the original amount of money borrowed from a loan?
The term for the original amount of money borrowed from a loan is called the "principal." This is the initial sum that the borrower agrees to repay, excluding any interest or fees. The principal amount is crucial in determining the total repayment amount over the life of the loan.
What is a revolving loan?
A revolving loan is a facility from which the Borrower can draw funds at any point and in any amount (limited by the total amount of the loan) / timing and amount of withdrawls is not set by the Lender. Any money repaid can be reborrowed at a future date. Usually it is secured against a property.
What is the difference between the principal balance and the payoff amount on a loan?
The principal balance is the amount of money you still owe on a loan, while the payoff amount is the total amount needed to pay off the loan in full, including any remaining interest or fees.
When you take out a loan what do you call the total cost of credit expressed in dollars?
The total cost of credit expressed in dollars when you take out a loan is called the "finance charge." This amount includes the interest charged on the loan as well as any additional fees associated with obtaining the loan. It represents the total cost you will pay over the life of the loan, beyond just the principal amount borrowed.
What is the difference between the outstanding principal balance and the payoff amount on a loan?
The outstanding principal balance is the amount of money you still owe on a loan, while the payoff amount is the total amount needed to pay off the loan in full, including any interest or fees that may have accrued.
What is the term for the original amount of money borrowed from a loan?
The term for the original amount of money borrowed from a loan is called the "principal." This is the initial sum that the borrower agrees to repay, excluding any interest or fees. The principal amount is crucial in determining the total repayment amount over the life of the loan.
How much will I save by refinancing my loan?
The amount you will save by refinancing your loan depends on factors such as the new interest rate, loan term, and any fees associated with the refinance. It's important to compare the total cost of your current loan with the total cost of the new loan to determine potential savings.
Do any websites have a simple loan calculator where I can calculate the monthly payment for a loan?
There are money online loan calculators that will provide you with monthly payment information and the total amount and interest you will re-pay over the life of the loan. Here is just one of them - http://www.yourloancalculator.com/
How can I determine the total amount of student loans that I currently owe?
To determine the total amount of student loans you owe, you can contact your loan servicer or log in to your account on the National Student Loan Data System (NSLDS) website. This will provide you with a comprehensive overview of all your federal student loans and their current balances. Additionally, you can review any private student loan statements you may have to account for all your outstanding loan amounts.
What is the amount added by the lender to be received on the repayment date?
The amount added by the lender to be received on the repayment date typically includes the principal amount borrowed plus any accrued interest and fees. The interest is calculated based on the loan's terms, such as the interest rate and duration. Additionally, if there are any late fees or penalties for missed payments, these may also be included in the total amount due. Thus, the total repayment amount can vary depending on the terms of the loan agreement.
Can I apply for an interest free loan?
Yes, you can apply for an interest-free loan, which is a loan that does not charge any interest on the borrowed amount.
i want a loan amount of usd 2000/- is any agency offering such facility.?
You can get a personal loan at the bank
What is Total money paid back is the?
Total money paid back refers to the complete amount returned by a borrower to a lender over the duration of a loan agreement. This includes not only the principal amount borrowed but also any interest and fees accrued during the repayment period. Understanding this total is essential for borrowers to assess the true cost of the loan and manage their finances effectively.
