0
What else can I help you with?
Are interest only mortgages a good idea?
No, why would you want to pay for interest only on a mortgage and not the principle. In order to pay the mortgage off you have to pay on the principle.
Is it better to pay off a mortgage or a home equity loan?
It is generally better to pay off a home equity loan first because it typically has a higher interest rate than a mortgage. By paying off the higher interest debt first, you can save money in the long run.
What is a straight term mortgage?
When you pay the the interest in the beginning and later pay the principal
Should I pay off my car or mortgage first in order to save the most money in the long run?
It depends on the interest rates of your car loan and mortgage. Generally, it's recommended to pay off the debt with the higher interest rate first to save the most money in the long run.
Should you pay off your mortgage?
Yes, if you have the cash and don't qualify for the tax deduction on the mortgage interest.
Are interest only mortgages a good idea?
No, why would you want to pay for interest only on a mortgage and not the principle. In order to pay the mortgage off you have to pay on the principle.
Is it better to pay off a mortgage or a home equity loan?
It is generally better to pay off a home equity loan first because it typically has a higher interest rate than a mortgage. By paying off the higher interest debt first, you can save money in the long run.
What is a straight term mortgage?
When you pay the the interest in the beginning and later pay the principal
Should I pay off my car or mortgage first in order to save the most money in the long run?
It depends on the interest rates of your car loan and mortgage. Generally, it's recommended to pay off the debt with the higher interest rate first to save the most money in the long run.
Does First Direct offer mortgages?
First direct (an online bank account) offers two main types of mortgages. A repayment mortgage that allows you to pay the interest and part of the capitl and an offset mortgage that you only pay the interest on. I would recommend visiting their website as this expains everything in more detail.
Should you pay off your mortgage?
Yes, if you have the cash and don't qualify for the tax deduction on the mortgage interest.
Where does most of the money go in a mortgage?
In the typical 30 year mortgage, the first 20 years are mostly paying interest on the loan. You can expect to pay about 2.5 times of the original mortgage price for the life of the loan.
Should I pay off my mortgage or home equity loan first?
It depends on the interest rates of each loan. Generally, it's recommended to pay off the loan with the higher interest rate first to save money in the long run.
Is it better to pay additional principal or additional interest on a home mortgage?
I'm not sure it's possible to pay additional interest on a mortgage, unless your mortgage company made a mistake and charged you too much. Your interest payment is calculated by your loan servicer, and you technically can't pay EXTRA interest. Any excess money you pay on your loan will go towards the principal, which is always a good idea, if you can afford it.
How are home mortgage rates calculated?
Mortgage rates are calculated based on the 10-year Treasury bond. This mean that usually when bond rates go up so do interest rates and interest rates are part of what we pay when we pay our mortgage. Mortgage rates are also calculated based on how much of a loan we need to finance our home purchase. One will pay an interest rate on the loan amount.
How much mortgage interest will I pay over the life of my loan?
The amount of mortgage interest you will pay over the life of your loan depends on the loan amount, interest rate, and term of the loan. Generally, the longer the loan term and the higher the interest rate, the more interest you will pay. You can calculate the total interest paid by multiplying the monthly interest payment by the number of months in the loan term.
Can you take out a mortgage to pay off loans that you already have out?
yes, when you take a second bond on your mortgage your pay less interest rates so that is the better option
