Commonly referred to as a driveby inspection. You look over the property on the outside only and fill out an assessemnt report on the visual condition of the home and take a few pictures. That is all you do. Answer: I would say that the charge is something in between to 0. But this rate …
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Should I use my extra money to invest or to pay off my home mortgage?
Answer: Most likely invest. Especially if you can do it in a tax-free vehicle like a 401-k or IRA. The key element is the tax effect. Interest on the home returns cash from the tax man. When you factor this in the effective interest on your home is probably a lot less than the expected …
questions about refinancing home mortgage? ?
with the fed cutting the rates so low, now would be a good time to think about refinancing right? my mortgage interest rate is currently 6.25 fixed, i think we owe about ,000 on it. my husband and i have excellent credit, and we’ve been in our home for 5 years. would refinancing lower our …
I just took out my first mortgage on a home. How long do I have to wait before I can refi for a lower rate?
With the average mortgage rates dropping, I am wondering if there is a minimum amount of time you have to pay on your mortgage before you can refinance? 1 year? Answer: You can refinance now. There is no set time you have to wait unless you have a pre-payment penalty on your existing loan. Refinancing …
Will our current mortgage lender automatically finance us for another home purchase?
We are moving and selling the first home. We are in good standing with the current mortgage company. We have lived here for almost 3 years- we have had two payments that have been a few days late. Also, will they keep us at our current interest rate? Answer: No, the rate will be based …
if i take out a home equity loan now will this loan affect me if i want to refinance my mortgage.?
I have 24 years left on 30 year mortgage. I am thinking about a home equity loan at a favorable rate, rather than roll in to refinance consolidation. If rates are favorable later this year i may like to refinance 1st mortgage at 15 years. Will home equity loan affect my refinancing even if i …
Is it smart to pay off my home mortgage early?
Answer: think of it this way. it is costing you x% per year to borrow the money. Assume the feds allow you to deduct 30% (or whatever your tax rate is), so your true cost is x% * (1-your tax rate). If you do not think you can earn more than this all in rate …
Is a home equity mortgage the same as a second mortgage?
Are the terms interchangable or are they two different things? Answer: Yes, a home equity loan IS a 2nd mortgage. Some people however, consider a “2nd mortgage” to be a closed-end fixed rate lump sum loan. While a “line of credit” is revolving and can be used over and over again. But both loans are …
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