0
What else can I help you with?
Do I need PMI for my mortgage?
Whether you need private mortgage insurance (PMI) for your mortgage depends on the size of your down payment. If your down payment is less than 20 of the home's value, most lenders will require you to have PMI to protect them in case you default on the loan.
What does the concept of ballooning refer to?
A balloon payment mortgage does not fully amortize over the term of the note. Because of this, a balance is due at the time of maturity. The final payment is called a "balloon payment" because of its large size.
What bank offers the best mortgage rates?
It appears to vary based on state, loan size, and down payment. Using Los Angeles, California, a 100,000.00 loan and 20% down as an example, Nation's Choice Mortgage has the lowest rate.
What is the eligibility requirements for mortgage pre-approval?
The same factors that are used for approving a mortgage are used for pre-approval. These include your employment history, current salary, savings, down payment, credit history, size of the loan and other factors.
What is the average cost to buy a rental property and what is the average mortgage payment associated with owning a rental property?
The average cost to buy a rental property can vary widely depending on location, size, and condition, but it typically ranges from 100,000 to 500,000. The average mortgage payment associated with owning a rental property is around 1,000 to 2,000 per month, depending on the loan amount and interest rate.
Do I need PMI for my mortgage?
Whether you need private mortgage insurance (PMI) for your mortgage depends on the size of your down payment. If your down payment is less than 20 of the home's value, most lenders will require you to have PMI to protect them in case you default on the loan.
What does the concept of ballooning refer to?
A balloon payment mortgage does not fully amortize over the term of the note. Because of this, a balance is due at the time of maturity. The final payment is called a "balloon payment" because of its large size.
What values are needed to calculate a mortgage on a mortgage calculator?
The values you would need to calculate mortgage on a mortgage calculator is single sum value Fvn=s(1+c)n. Also payment size value is fvn=p[(1+c)n-1]/c.
What is a payment calculator loan?
This Loan Payment Calculator computes an estimate of the size of your monthly loan payments and the annual salary required to manage them without too much financial difficulty.The loan calculator also assumes that the loan will be repaid in equal monthly installments through standard loan amortization.
What bank offers the best mortgage rates?
It appears to vary based on state, loan size, and down payment. Using Los Angeles, California, a 100,000.00 loan and 20% down as an example, Nation's Choice Mortgage has the lowest rate.
What is the eligibility requirements for mortgage pre-approval?
The same factors that are used for approving a mortgage are used for pre-approval. These include your employment history, current salary, savings, down payment, credit history, size of the loan and other factors.
Is there a general calculation used to figure the monthly payment amount on income based apartments?
No, because you need to take into many factors, such as size, rooms and location for the calculation.
What is the average Monthly electric payment?
The average monthly electric payment varies depending on the region, household size, and energy usage. On average, in the United States, households spend around $115-$200 per month on electricity. However, this can be higher or lower based on factors such as location, weather, and energy efficiency of the home.
What is the mortgage term for when you want your mortgage company to add monthly payments to the back end of your loan so you can be current again?
Balloon payment just means you owe a lump sum payment at maturity, which is typically renewed and amortized. However, to answer the question, capitalized interest hides delinquent loans. Basically, the bank converts the interest owed on the loan to the principal balance effectively increasing the size of the loan. So when the owed late interest is capitalized, turned into an asset, the delinquent loan appears/is current. Since the loan is larger the borrower is essentially paying it's late payments at the end of the loan.
What is the average cost to buy a rental property and what is the average mortgage payment associated with owning a rental property?
The average cost to buy a rental property can vary widely depending on location, size, and condition, but it typically ranges from 100,000 to 500,000. The average mortgage payment associated with owning a rental property is around 1,000 to 2,000 per month, depending on the loan amount and interest rate.
What is the normal house payment in an urban area?
The normal house payment in an urban area can vary widely depending on factors like location, size of the home, market conditions, and mortgage terms. It's important to consider your personal financial situation and budget in determining what is manageable for you.
What is the monthly cost of a condo in Chicago?
Your lender can answer your question, depending on the size of your mortgage and the term over which you've asked to borrow the money.
