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What else can I help you with?
How soon can you refinance a VA loan?
If the current VA rate drops 2% or you can save more than 50 per month you can do an Interest Rate Reduction loan. If you want equity out (cash back) you will have to wait 6 mo-1 year (until your VA appraisal expires). Most Lender's will base you new loan on the original Sales Price if it is within the first year. So unless you put a downpayment of 10% or more it usually is not wise to do this during the first 12 mos.
Does it benefit you if you have an interest only loan to pay extra toward your principle?
Yes. The interest only loan is simply that. You are only paying the interest on your loan. None of your payment is going toward the principle loan amount. The main advantage of an interest only loan is the drastically low monthly payment that you make compared to a traditional mortgage. Most of the interest only loans are based on a 10yr. term and MUST be paid off at that time. Most borrowers refinance at the 10yr. mark. This program is offered to borrowers with very good credit. A smart borrower knows that in the early years of a traditional mortgage his payment goes almost entirely toward interest. Gradually over the life of the loan his payment will go more and more to principle until near the very end of the loan almost all of the payments he is making will be going toward principle. The interest only loan can be used to drastically increase the amount of your payment that goes to principle in the first 10 yrs.. Here's how. Keep in mind that these are not accurate numbers and are being used to make it simple for this answer. Let's say your current payment is $1200/mo. Out of that $1200 only $50 is going toward principle and the rest goes to interest. You choose to refinance with an interest only loan and your new payment is $750/mo. This reduces your monthly payment by $450/mo. Out of the new $750/mo. payment NOTHING goes toward principle. The savvy borrower pays $1000/mo. instead of the required $750 and $250/mo. goes toward principle. This is $200/mo. more going toward principle than the traditional mortgage where only $50 was going to principle. It is also $200/mo. less than you were payingbefore. So your monthly payment is lower and you are chipping away at the principle of the loan much faster at the same time. Do some math and you will see how much faster your loan amount decreases compared to a traditional mortgage. Another advantage of the interest only loan is that you are only required to make the $750/mo. payment. So if things are tight one month...you can just make the interest payment. It only takes a little gumption to make this work for you. I am a licensed Loan Officer and have seen first hand the benefits of this program when it is used properly. Hope this helps.
What is the monthly payment for a 175000 home with a 5 percent interest rate calculated monthly on a 15 year term loan?
I always go to bankrate.com for these type of answers. They have a cool calculator and you can plug all sorts of numbers in and even look at what happens when you pay an extra $100/mo. Once you're in the site, click on calculators and then choose mortgage calculator.The monthly payment would be $1097.75 but that doesn't include insurance and taxes which could add $200-300/mo depending on the taxes and insurance premiums.
How long to rebuy after foreclosure?
Az state credit union has a program where you can buy just 6 mo after a forclosure if you have 20% down and are current on all other bills.
What is consumer credit market?
bogo mo. wala mo kbalo
what rate can i get for a $1000.00 cd for 12-18 mo.?
Here is an example of current rates with a $500 minimum deposit: GMAC Bank CD rates: 12 month 4.25% 18 month 4.26%
What is sales tax rate for the Columbia MO Best Buy store?
The current total local sales tax rate in Columbia, MO is 7.975%.
What is the sales tax on a used vehicle in Howard County Mo?
The current total local sales tax rate in Howard County, MO is 6.85%
What is Mo Farah's heart rate?
Mo farahs heart rate (beats per mintue) is 33bpm
What is the current population of Jefferson City MO?
Jefferson city, Mo
Lines AB and CD are parallel. If mX is 49 and deg what is mO?
The answer depends on what and where m, X and O or mX and mO are!
Where can i buy ps2 GameShark CD in the Philippines?
sa puso mo :)
if I change the c d from10 mo. to 6 mo ths, do I have to pay tax on the interest if it is rolled over?
Yes i beleive you need to pay on any interest earned.
know any better cd rates than 2.75 on 12 mo?
Ally Bank has a 2.80% 12 month CD.
What is the sales tax rate for Carthage mo?
.075
What is the sales tax rate on rates in kansas city Missouri?
The current total local sales tax rate in Kansas City, MO is 8.35%.
Who has copyrights to Mo Wax CD 1997?
Either A&M (and therefore Universal) or the Beggars Group.
