0
What else can I help you with?
What are the disadvantages of refinancing a home loan?
The disadvantages of refinancing a home loan include potential fees and closing costs, a longer repayment period leading to more interest paid over time, and the possibility of resetting the loan term.
Why would a homeowner consider refinancing their home loan rates?
Occasionally a home owner will consider refinancing ones home loan if the interest rates have dropped substantially. This could save the home owner a lot of money in interest payments. Often a home owner will also consider refinancing to stretch the payments over a longer period of time and therefore reducing the monthly payments.
Can you deduct the prepayment fee on a commercial mortgage?
I don't think if it is on commercial property or not is an issue...and the answer is going to be yes! When you refinance a mortgage, all the costs of the mortgage you financed, including all those like points on origination that may have had to be amortized over the term of the loan, are accelerated and become deductible in that period. The key is the cost must be tied to the replaced mortgage, not the new one.
How can I adjust my mortgage payment to be more affordable?
To adjust your mortgage payment to be more affordable, you can consider refinancing your loan to get a lower interest rate, extending the loan term to spread out payments over a longer period, or negotiating with your lender for a loan modification.
What is the benefit of paying discount points as part of the closing costs?
Paying discount points at closing allows borrowers to reduce their mortgage interest rate, leading to lower monthly payments over the life of the loan. This can result in significant savings, especially for those planning to stay in their home long-term. Additionally, the upfront cost of discount points can be offset by tax benefits, as points may be tax-deductible in the year they are paid. Overall, discount points can be a strategic investment for those seeking long-term savings on their mortgage.
What are the disadvantages of refinancing a home loan?
The disadvantages of refinancing a home loan include potential fees and closing costs, a longer repayment period leading to more interest paid over time, and the possibility of resetting the loan term.
Why would a homeowner consider refinancing their home loan rates?
Occasionally a home owner will consider refinancing ones home loan if the interest rates have dropped substantially. This could save the home owner a lot of money in interest payments. Often a home owner will also consider refinancing to stretch the payments over a longer period of time and therefore reducing the monthly payments.
Do you have to pay a deductible if your car is involved in a hit and run accident?
If the party who caused the accident is not located, then you probably will have to fork over your standard deductible.
Can you deduct the prepayment fee on a commercial mortgage?
I don't think if it is on commercial property or not is an issue...and the answer is going to be yes! When you refinance a mortgage, all the costs of the mortgage you financed, including all those like points on origination that may have had to be amortized over the term of the loan, are accelerated and become deductible in that period. The key is the cost must be tied to the replaced mortgage, not the new one.
Does homeowners ins have to pay cost over deductible?
The deductible is the part of the loss that the policyholder is responsible for paying before the insurance company pays the remainder of the loss.
Let a Home Refinance Calculator Show Your Possible Payments?
A home refinance calculator can show you your possible future payments after refinancing your home mortgage. By spreading out the amount you owe over a longer period of time, or obtaining a lower interest rate, you can often reduce your monthly payments. This extra money can be used to help plan for retirement, supplement your investments, or pay for your children's schooling. Because there are costs involved with refinancing your home mortgage, the calculator can also help you determine whether or not refinancing will benefit your particular home loan.
What if I have to have a costly medical procedure done but have not met my yearly deductible will my insurance cover any of it?
If it's a costly procedure, then you'll probably go over the deductible amount and get paid on everything over that. Check your policy or brochure.
If you hit a parked car and the damage is over your deductible how does that work?
If you hit a parked car, the deductible applies to your vehicle, not the parked car. The other vehicle is covered by your liability coverage and there is no deductible attached. You pay the deductible on the repairs to your vehicle, usually to the shop after the work is completed, the insurance company handles the balance directly.
How long will a 16-20 MPH over the speed limit ticket stay on your record in Oklahoma?
Speeding less than 25 miles over the speed limit is 2 points on your license. You get two points taken away every 12 month period that you do not get anymore points on your license.
How can I adjust my mortgage payment to be more affordable?
To adjust your mortgage payment to be more affordable, you can consider refinancing your loan to get a lower interest rate, extending the loan term to spread out payments over a longer period, or negotiating with your lender for a loan modification.
How many points will you get in California for driving while your license is suspended or revoked?
According to DMV website - two points. See link Not true! 2 points if you're under 18. 4 points if you're over 18 within a 12-month period.
About what percent of premiums do you pay for high deductible insurance compared to low deductible insurance?
It really is not possible to define that in percentages. But think of it this way, the higher the deductible ( the amount you pay BEFORE the insurance company begins to pay ) the lower the premium. Just do the math, if you are taking a $2,000 deductible over a $1,000 deductible , but you are only saving $200 a year, it is not a good choice. You are basically putting yourself on the hook for potentially another $1,000 in deductible to save $200.
