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Ah, a reversible mortgage is a lovely way for some folks to access funds from their home's equity. It allows homeowners to receive payments based on the value of their home, which can be quite helpful in retirement. Just like painting a happy little tree, it's important to understand all the details and consult with a financial advisor to see if it's the right choice for you.
What else can I help you with?
Is the mortgage payable a financing activity?
Yes mortgage payable is a financing activity because in this way company arranges the finance to run the business.
What are the advantages and disadvantages of 100 percent financing however having a first mortgage and subfinancing in order to get 100 financing?
The advantage to having a first and second mortgage equalling 100% financing is that you would not have to pay PMI, which would be required on a first mortgage at 100%. The second mortgage is subordinate financing, meaning it is in the second lien position on the house, and therefore does not affect the first mortgage lender's ability to persue the subject property in the event of a default on the loan. The thing to consider is that when you do this on a purchase, your first AND second mortgage lender will qualify you at the cumulative mortgage payment.
What does the term arm loan refer to?
ARM loan stands for 'Adjustable-Rate Mortgage". It is a type of financing used to purchase a home. It's a mortgage loan with interest rates that changes periodically.
What is purchase money financing?
Purchase money financing is when the seller agrees to take back a mortgage for the new buyer. It is owner financing in whole or in part.
What options do you have in order to obtain a commercial mortgage financing?
The options when obtaining a commercial mortgage financing is to shop around to find the most competitive and secure rate. As well one needs to look at comfort level and ability to pay for the mortgage.
How can a Canada mortgage calculator help determine the right type of financing?
A Canada mortgage calculator can help determine the right type of financing by calculating how much you currently owe on your mortgage to the government, and then it determines the best way for you to pay this off quickly and efficiently.
Does Wells Fargo offer mortgage financing?
Yes they do in fact offer mortgage financing. Please go to you local location to speak with them about their current rates for a mortgage.
Where can I get reverse financing mortgage information?
You can get information on reverse mortgage financing from your local mortgage lender or bank. You can also find many places on the internet such as http://www.reversemortgage.org.
What is a seller held mortgage?
It means that the person from whom you bought the property is personally supplying the mortgage financing themselves. (i.e.: they are supplying the financing and not some mortgage company or bank.)
Is the mortgage payable a financing activity?
Yes mortgage payable is a financing activity because in this way company arranges the finance to run the business.
Standalone Mortgage?
A standalone mortgage is a type of home loan that exists independently without being combined with other financing options, such as home equity loans or lines of credit.
What are the advantages and disadvantages of 100 percent financing however having a first mortgage and subfinancing in order to get 100 financing?
The advantage to having a first and second mortgage equalling 100% financing is that you would not have to pay PMI, which would be required on a first mortgage at 100%. The second mortgage is subordinate financing, meaning it is in the second lien position on the house, and therefore does not affect the first mortgage lender's ability to persue the subject property in the event of a default on the loan. The thing to consider is that when you do this on a purchase, your first AND second mortgage lender will qualify you at the cumulative mortgage payment.
What does the term arm loan refer to?
ARM loan stands for 'Adjustable-Rate Mortgage". It is a type of financing used to purchase a home. It's a mortgage loan with interest rates that changes periodically.
Where do I get advice on mortgage financing?
The best place to get advice on mortgage financing is your bank or the bank/institution you plan on financing your mortgage through. Be wary of creative financing. It may bite you in the butt later on down the road.
Can you add someone to morgagefrom the start?
The mortgage refers to the financing of the deed to a real property. A person cannot be on the mortgage unless they qualify for the financing. They can be on the title though and have no financial connection.
Where online can I get help financing my mortgate?
If by "financing my mortgage" you mean where is the best place to find a mortgage, try www.bankrate.com. You can comparison shop and examine various mortgage companies and their products here. This site allows you to look at mortgage terms, rates and fees and you can even take the first step to apply for a mortgage.
What is purchase money financing?
Purchase money financing is when the seller agrees to take back a mortgage for the new buyer. It is owner financing in whole or in part.
