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Recent House Mortgage Calculator News
house mortgage calculator
On Monday, the Enterprise-Record will launch a new Web site that highlights the north-state real estate market. The site — www. northvalleyrealestate.net — is designed for both homebuyers and sellers, as well as agents. House hunters will be able ...
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New real estate Web site debuts - Chico Enterprise-Record
Even those who signed up to five-year fixed-rate home loans in January could lower their costs over the term of the loan by paying early redemption charges to get out. These fees could be as much as £6,000 for a typical £150,000 loan. An early exit ...
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Mortgages & homes - Mortgage features - This is Money
Like many retirees, Marlene Laffoon, 73, watches in dismay as both her home’s value and her investments slide southward. And yet everyday costs for this former bookkeeper aren’t falling correspondingly. So Laffoon’s spirits rose last month on ...
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More seniors opt for reverse mortgages - Buffalo News
Q: My wife and I are about to have a baby and we’ve been looking at moving from a one-bedroom to a pet-friendly two- or three-bedroom co-op in the Fort Lee , N.J. , or Flushing, Queens , area — ranging from $250,000 to $350,000. While I’ve seen ...
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Ask Barbara: Should you be sold on condos or co-ops? - New York Daily News
T-Boz -- she's the T in TLC -- is about to lose a Georgia house after failing to pony up her mortgage payments. We've learned a five-bedroom, nearly 10,000-sq. ft. house owned by T-Boz (real name: Tionne Watkins-Rolison) is about to go on the auction ...
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T-Boz Latest Victim of Dreaded F-Close - TMZ.com
Home buyers who haven't owned a house as their principal residence in the past three years may qualify for a grant to grease the purchase. They can seek a tax rebate of up to $7,500 to help out—even if the rebate exceeds the amount of income tax ...
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7 Ways Hard Times Can Cut Your Taxes - US News and World Report
Q. My husband and I are trying to decide if we should buy a $330,000 home in our neighborhood that, at 2,300 square feet, is twice the size of our current home (the monthly payment would be only about $50 more a month than our current payment), or ...
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Buy New or Remodel? - Wall Street Journal
THE elephant in the room has knocked over a side table and Ireland is now officially in recession. Unemployment will crash through the seven per cent mark and house prices will plummet. We'll have less money to spend, and utility, food and mortgage ...
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Wipe out recession blues and you'll live - Independent
Suddenly, the traditional wisdom of putting aside cash for an emergency seems more important than ever. With economic storm clouds brewing, it makes sense to have three to six months' worth of living expenses -- even more if you can manage it ...
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Need cash? Here's where to find it fast - WTVF
President-elect Barack Obama on Saturday said that building energy efficiency is central to his administration's economic recovery plan and outlined the conditions he intends to impose on ailing U.S. automakers. In his weekly radio address , which is ...
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House Mortgage Calculator Questions and Answers
Open Question: are prime rates going down? ?
used one of the mortgage calculators to guestimate how much i can afford, and its a very low amount...about 150k. How is it that my dad who makes less than I do, can qualify for a loan of 400K? also should we wait longer on purchasing a house? we need to get a home soon.
moreResolved Question: How could this be right?!?!?
I did an mortgage affordability calculator and it told me I could only afford a $41,000 house? Really, kind of funny that when I do a mortgage monthly payment calculator with tax and homeowners insurance on a $110,000 loan I come to a monthly payment that equals what I am already paying in rent on an apartment, and I am making it right now so how is that possible? I mean, I know I couldn't afford much more than what I am already paying but regardless, it was a little disheartening. Are those things right?
moreResolved Question: How does prepaying a mortgage work?
My wife and I have just entered into contract on our first house. We have locked in a 30 yr fixed. We put 25% down. After all is said and done, we should have about 30K remaining for our rainy day fund.
Our monthly expenses should leave us with extra cash. If I regularly prepay my mortgage, say $500 a month, how does this work?
Do my monthly payments reduce based on the agreed rate and the new outstanding principal? How do I make these calculations? Just reduce the initial principal by the prepay amount, and then use a mortgage calculator with the new loan amount and the existing rate?
Does this effect the type of tax returns I will see?
Many Thanks,
Eric
moreResolved Question: homework help for math?
We are suppose to find a condo on the internet and pretend to be owners and find the payment amount you will pay in 30 years. We cannot use a down payment or taxes on the house.
we are to use the interest formula I=p x r x t
P=price 35.000 x r=rate 6.28 x t=time 30 years
35.000
x 6.28
x 30
-------------------
6594 calculator
then we do it again but this time we move the decimal in the rate 2 space to the left making it
35.000
x0.628 (like so)= 21.98 x 30= 659.4 /12=54.95 x 30 = 1648.5
on the condo website they have an estimated payment price of 172 per month for 30 years, my sister had gotten 183 per month for 30 years she can't remember how she came about the answer. Please try your best to work out the problem please! here is the website link so you can see it for yourself remember no down payment or taxes
look at their mortgage calculator at the bottom to compare.
copy this whole address in the address bar so you can see
http://washingtonpost.2.homescape.com/SCS/listing_details.jsp?affiliate_name=washingtonpost&calling_page=listing_result_list&listing_result_page=listing_result_list&filter_max_price=40000&search_by_type=new_mls%2Cnew_class%2Cnew_const%2Cresale_mls%2Cresale_class%2Cresale%2Cresale_ecom_owner%2Cnew_ec%20om_owner%2Cresale_ecom_agent%2Cnew_ecom_agent%2Cresale_ecom_broker%2Cnew_ecom_broker%2Cresale_ecom_builder%2Cnew_ecom_builder&tab_num=1&display_default_state_id=68984&filter_min_price=20000&community_sort_id=1228235517422&geo_area_id=68984&filter_property_type=condo_unit&filter_product_id=35730641
moreResolved Question: I need help with my financial service homework! Help!?!?!?!?
We are suppose to find a condo on the internet and pretend to be owners and find the payment amount you will pay in 30 years. We cannot use a down payment or taxes on the house.
we are to use the interest formula I=p x r x t
P=price 35.000 x r=rate 6.28 x t=time 30 years
35.000
x 6.28
x 30
-------------------
6594 calculator
then we do it again but this time we move the decimal in the rate 2 space to the left making it
35.000
x0.628 (like so)= 21.98 x 30= 659.4 /12=54.95 x 30 = 1648.5
on the condo website they have an estimated payment price of 172 per month for 30 years, my sister had gotten 183 per month for 30 years she can't remember how she came about the answer. Please try your best to work out the problem please! here is the website link so you can see it for yourself remember no down payment or taxes
look at their mortgage calculator at the bottom to compare.
copy this whole address in the address bar so you can see
http://washingtonpost.2.homescape.com/SCS/listing_details.jsp?affiliate_name=washingtonpost&calling_page=listing_result_list&listing_result_page=listing_result_list&filter_max_price=40000&search_by_type=new_mls%2Cnew_class%2Cnew_const%2Cresale_mls%2Cresale_class%2Cresale%2Cresale_ecom_owner%2Cnew_ecom_owner%2Cresale_ecom_agent%2Cnew_ecom_agent%2Cresale_ecom_broker%2Cnew_ecom_broker%2Cresale_ecom_builder%2Cnew_ecom_builder&tab_num=1&display_default_state_id=68984&filter_min_price=20000&community_sort_id=1228235517422&geo_area_id=68984&filter_property_type=condo_unit&filter_product_id=35730641
moreResolved Question: rent or buy for 3 years, then move?
I'm getting married in May 2009 and plan to buy or rent a hose by about that time. I can't rent an apt, it has to be a house for enough space for my home business.
IF I buy, I'd really like to buy way under my means at around $120-140K (already approved for $275K in August) and pay it off really quickly. Using calculators and such, I estimate I could pay off that entire mortgage in 3 years (no car payment, no kids, tight spending).
I want to stay here in VA for 3 more years so I can stay closer to our two families just a bit longer, but all our lives we have wanted to move further south where it is much warmer (both seasonal depressants when it comes to winter).
In 3 years when we do move, it will definitely be a more permanent home.
So in these 3 years, should we rent or buy (with the intention of fully paying off the house before we move)? The market here has not experienced a decline really and my realtor friend says the average around this area remains at 6-8% appreciation each year, but he could just be *saying* that.
thanks so far guys, thats been good info.
I've been doing some more math, and with just living in the house for 3 years then selling, it would be throwing away about $36,000 on interest, tax's, and insurance. Even if the house value went up a few %, any maintenance needed and closing cost's would eat that profit entirely away. (all math on a $150K home with $30K down at 7.25%)
The only principle I'd get back out of it in the best case scenario I see would be about $4000 in payments to principle from the 3 years. In total spending $40k in 3 years, and coming back with $4000 (from principle).
So if I can just find a rental for $36K over 3 years ($1000 a month) and just invest the $30K down payment, I'll actually make off way better eh? Or maybe I can ask the rental owner for a 5% break if I pay 2 or 3 years up front?
I guess the only other question I could propose would be if I bought a foreclosure at a really good deal and sell it with a 10-15% gain? or buy a fix'er upper or even fix up the foreclosure and gain 10-15% in 3 years?
moreResolved Question: Who is responsible for current financial Crisis?
Frankin Raines? The Clinton budget director appointed as CEO of Fannie Mae who changed Fannie Mae from a boring business of -- issuing debt to buy mortgages from lenders -- into a far more risky one?
Timothy Howard? Former Fannie Mae CFO who overstated the company's earnings by $10.6 billion from 1998 to 2004?
Barney Frank? House Financial Services Committee chairman has long been a proponent of both Fannie and Freddie, assuring the public that their mission to encourage home ownership outweighed the distortive risks they brought to the market?
Angelo Mozilo? Few, if any, extracted more personal profit from the credit bubble than the CEO and founder of Countrywide Financial. Mozilo's talking points always borrowed heavily from the propaganda of the changed Fannie & Freddie, pretending that it was performing some kind of public service -- "breaking down barriers" -- by making homes more "affordable" to the sub average wage earner.
Alan Greenspan? who many blame for the housing bubble, and supposed to be providing the country with a financial voice of reason, who fell so far short, that it might be comical if it weren't so tragic?
John McCain?, who saw the problems with Fannie and Freddie and and sponsored a bill that could have regulated them in 2005, but was politically unable to get it out of the demotratic controlled Senate Finance committee?
Dodd, Obama, and the other Senators who took huge sums of money from Fannie and Freddie? who vigorously defended them even after their accounting scandals in 2004?
The financial institutions? who purchased these incredibly complex financial products from Fannie and Freddie with out fully understanding the risks?
The people that that bought houses they clearly couldn't afford? The ones who didn't bother to take 3 minutes with a $3 calculator?
To be sure, there were many more complicit in this mess. Who do you blame?
moreResolved Question: Questions from a first-time home buyer?
My husband and I are looking at buying our first house. We've been in an apartment for a year and a half now and we're more than ready to move into a house and actually have some counter space and decently sized bedrooms haha.
How do you calculate mortgage payments? I saw some mortgage calculators online, but they were not accurate. They didn't ask for interest rates or property taxes or anything like that. They just divided the cost of the house over 30 years. I would have assumed that you multiply the interest rate (we'll say 6%) by the cost of the house. Then divide the actual loan amount by 30 and add the interest to it.
80,000 x 0.06= $4,800 (per year, interest).
80,000/30= 2,667 + 4,800= $7,466/year or $622/month.
Is that how you do it? Am I doing it wrong?
Also, my husband is paying back his school loans. Our cars are paid off. We spend $65/week in groceries, $125/month for car insurance, $116/health insurance, etc. We don't waste money on frivolous crap... And according to this mortgage calculator online, it says he needs to make $61,000. If the mortgage + utilities = what we pay in rent now, and we're paying that on time every month with no problems, why does it say his salary needs to be almost twice what it is now?
This is stressful...
moreResolved Question: Simple C++ program, not compiling, I'm having trouble?
Please bear with me. I am a first year CS student and I know the mistakes I've probably made are silly.
// Mortgage Calculator
#include <iostream>
#include <string>
#include <iomanip>
#include <cmath>
using namespace std;
int main()
{// User input
cout << "Welcome to Eric's Mortgage Calculator!"<< endl;
string name;
cout << "First,what is your name?" << endl;
getline(cin,name);
string address;
cout << "Your address?" << endl;
cin >> address;
string city;
cout << "Your city?" << endl;
cin >> city;
string state;
cout << "Also, your state?" << endl;
cin >> state;
string zip;
cout << "And your zip code?" << endl;
cin >> zip;
cout << "Okay, now you're house..." << endl;
string cost;
cout << showpoint << fixed << setprecision(2);
cout << "What is the cost of your home?" << endl;
cin >> cost;
string downPayment;
cout << "And how much is the downpayment?" << endl;
cin >> dp;
string ir;
cout << "What is the interest rate of your loan? (Please enter with decimal =))" << endl;
cin >> ir;
string yrs;
cout << "How many years is the loan for?" << endl;
cin >> yrs;
//Calculations and assignments
float num = cost * (ir * (1 + ir));
float num2 = pow(num, 12);
float den = (1 + ir);
float den2 = pow(den, 12);
float den3 = (den2 - 1);
float monthlyPayment = (num2 / den3);
//Output
//Their info
cout << endl;
cout << endl;
cout << "Your information:" << endl;
cout << left ;
cout << "Name:" << name << endl;
cout << "Address:" << address << endl;
cout << "City:" << city << endl;
cout << "State and Zip:" << state << "," << zip << endl;
// Their calculations
cout << endl;
cout << endl;
cout << "And here are your calculations," << name << endl;
cout << "Cost:" << cost << endl;
cout << "Down Payment:" << downPayment << endl;
cout << "Interest rate:" << ir << endl;
cout << "Life of loan:" << yrs << endl;
cout << "Approximate Mortgage Payment:" << monthlyPayment << endl;
I know I'm not declaring the variables right. I think I should be using char or string for some. I also think my syntax for the formula is messed up. Heeeellpp!
By the way this is a program that calculates the monthly payment of a mortgage using the amortization formula.
moreResolved Question: Apparantly I have won the Nigerian lottery, £16m ... I need £37'000 more to pay admin fees to release it?
I got an email from a very kind, and in my opinion entirely trustworthy Nigerian individual saying I won the Nigerian Lottery. I admit, I didn't buy a ticket, but I guess their lottery system is different to ours. He said he needs money just to pay admin fees etc. At first this was £5000. I figured, if I lost that amount, the risk:reward is good enough to justify it. The he said there was exchange release fees of £10000. I just about had it, and I paid it. Now he wants another £600'000 which I will get back with the £16m in October 2008.
I'm at my wits end. How do I get access to £600'000. I am so close to the £16m I can almost smell it. I've pawned my watch, an antique family heirloom, Casio calculator from the 1980s, pretty much all my other assets, and I have loan sharks maybe lending me the rest. The interest will be 35% pa. but with 16m I should comfortably pay that off !
what else can I do to raise the funds? any ideas? I already took out a mortgage on my house and sent the money. I just need £37000 more but I don't have anything else to sell for money! I even sold my car.
help?
moreVoting Question: Question about searching in search engines?
My question is related to searching in search engines
I need to copy paste website addresses by searching in google
suppose I search mortgages in google
The results are
#
Mortgage - Wikipedia, the free encyclopedia
For loans secured by mortgages, such as residential housing loans, and lending practices or requirements, see Mortgage loan. ...
en.wikipedia.org/wiki/Mortgage - 65k - Cached - Similar pages
#
Mortgage loan - Wikipedia, the free encyclopedia
A mortgage loan is a loan secured by real property through the use of a mortgage (a legal instrument). However, the word mortgage alone, in everyday usage, ...
en.wikipedia.org/wiki/Mortgage_loan - 108k - Cached - Similar pages
More results from en.wikipedia.org »
#
Nationwide Building Society - Mortgages
Additional mortgage borrowing paid to you as one lump sum. Flexible advance. Additional mortgage borrowing that allows you to draw on the money as and when ...
www.nationwide.co.uk/mortgage/default.htm - 17k - Cached - Similar pages
#
Mortgages | compare thousands of mortgage and remortgage rates and ...
Compare thousands of UK mortgage and remortgage rates and deals, including mortgages from high street and specialist lenders. Help and advice available...
www.moneysupermarket.com/mortgages/ - 231k - Cached - Similar pages
#
Mortgage advice & news - compare mortgages & mortgage rates in the ...
Mortgages & mortgage news - compare mortgages & get expert advice from brokers tailored to your needs. Use our free mortgage calculators or find out how ...
www.yourmortgage.co.uk/ - 65k - Cached - Similar pages
#
Mortgages, Home Equity Loans, Refinance, Rates, Mortgage ...
Provides information about mortgages, mortgage rates, home refinancing, home equity loans and many other mortgage related topics. Try our free mortgage ...
www.mortgage.com/ - 33k - Cached - Similar pages
#
Loans | Car Loans, Secured Loans, Homeowner Loans & Personal Loans
Mortgages with a range of over 4000 products. This includes products for First time buyers & re-mortgages. Enter Mortgages · Life Insurance ...
www.rainbowgrp.co.uk/ - 16k - Cached - Similar pages
#
Mortgage | LII / Legal Information Institute
A mortgage involves the transfer of an interest in land as security for a loan or other obligation. It is the most common method of financing real estate ...
topics.law.cornell.edu/wex/mortgage - 16k - Cached - Similar pages
Instead of this is there a way to make serach results appear in listed form with only website addresses like this so I can copy paste ?
en.wikipedia.org/wiki/Mortgage
en.wikipedia.org/wiki/Mortgage_loan
www.nationwide.co.uk/mortgage/default.htm
www.moneysupermarket.com/mortgages
www.yourmortgage.co.uk
www.mortgage.com
www.rainbowgrp.co.uk
anybody can help /?
moreResolved Question: A way around a co borrower?
Me, my boyfriend and my daughter have found a house that's in our price range. We have consulted a mortgage calculator to figure this out and its cheaper than what we pay a month now. However, we had to consult a bank in order to get the loan. The bank claims we need a co borrower. Is there a way around this? If so how? If not, how do I find one?
moreResolved Question: Maybe a stupid question regarding homebuying and selling/money down-?
We bought our house in 2005 for $84,000.
We can sell it today for $110,000.
Does this mean we have $25,000 to put down on a new house?
And if so, if I'm using a mortgage calculator, do I just put the premium as $25k less than asking price?
moreResolved Question: Who comes up with mortgage calculators?
I'm a single mother who has not debt a credit rating of 783 and pay 1415 in rent & that is just rent that doesn't include water, power, trash, phone, cable or anything else. Through those in and it's closer to $1800.I have no debt not even a car payment. I make sadly only about $40,000 dollars as an executive assistant. I don't live lavishly and while like any woman enjoy nice things I know when & what I can afford and live within my means though admit sometimes times are tight but I know what I can afford & never bite off more then I can afford even if I might like something better. I don't mind paying what I currently pay cheapier would be nice but still & yes I know about property taxes which where I live is about 10% paid twice a year. My point and question is I would like to buy a condo or house obviously it makes more sense so how come if I go to a "how much home can I afford" calculator it will tell me I can only afford a loan for $150,000 if that even at a fix rate and for 30 years. When even after taxes I would make well over that in 30 years.
moreResolved Question: Buying a condo..can someone please help
I’m planning on buying a condo…. I’m only 19 but my aunt says that there is a first time buyers plan that really helps people out especially if you’re a student. (She is in real state) She said that her youngest client was 18 years old and he bought a house…my question is. how much will my payment come out to if the condo is $90k…according to the mortgage calculator (on the website) with $5k down it would be around $500 not including the maintenance fee…how much is insurance for a condo? And how much I’m I looking on planning on spending each month on bills? Can someone help me out here…?
moreResolved Question: How do I figure out how much my house payment will be?
There are a million mortgage calculators out there. I'm trying to figure out what other costs will be involved in owning a house, ie. taxes, home owners insurance, etc. So, a mortgage calculator is telling me that I would pay about $900 a month for a 30 year mortgage on a $150,000 house. How much else am I looking at? Thanks.
moreResolved Question: are online mortgage calculators that tell you "how much can you afford" accurate?
My monthly income is 5500 before taxes. I have no debt (i even own my car) and I have 20k to put down and it is telling me that I can only get a loan on 200k house????? I know a friend of mind who makes less than I do who got a loan for 300k just last year. What is the deal.
oh, and my credit score is 730
moreResolved Question: What should I do?
My mom owes 54k left on our house I said I would "buy" it for 80k
So if I do do this what do I have to do...If I take out a mortgage for 80k what kind of loan should I get...I dont understand fixed rate, interest only fixed rate, arm, interest only arm...
I plan on buying it but selling it in 2-5 years because I am going to have 2 of my friends live with me and have them pay rent...so which is the best way to go about this if I will be selling it in 2-5 years. If I get a long term 30 years? or I have no clue what to do...or like 10 years or whatever. I can just sell the house (for more than 80k, i hope) and would make a profit?
I just used a mortgage calculator that had %7 interest for 15 years on 80k it came out to 720 a month would be ideal for 3 people to pay. Should I go higher so my payments would be lower and then I can sell it in a short time?
What is the best way to go about this?
moreResolved Question: Mortgage tax and insurance question...?
When you do mortgage calculators (I know their accuracy varies) and they say things like "you would be approved for a mortgage up to $200,000" (or whatever amount), does that mean you could get 200k including taxes and insurance, or just the loan itself?
So, say I qualify for a mortgage that equals 1,000 a month. Now obviously you have to factor in tax and insurance, how does the bank do that, do they say "sorry, with tax and ins you'll be over your allowed amount", or are they only concerned with mortgage?
I'm confused!!! lol
I'm just trying to figure this out. not only to keep my house hunting search within my means, but also to keep myself from getting into more than I can handle.
thanks!
I'm preapproved btw, approval is not my question... How tax and insurance factors in is.
lol.... thanks again!
moreResolved Question: First time home buyer?
I am looking into buying my first home in about 7 months. I was wondering how much I can afford. There are mortgage calculators that help you do so, but they do not take into affect the extra costs of buying a house. Is there an easy way to get a realistic estimate of monthly payments related to the cost of the home itself?
To make it more clear, I need to know what price range to look into.
Should I speak to a mortgage lender at a bank or elsewhere?
moreResolved Question: Are home mortgage calculators wrong or why are the salaries always way below the housep prices?
For example, in Calabasas, the salaries are in the 100K and the usualy income is $180,000 according to city-data, but if you go to CNN's affordable house calculator the most expensive house you could get is $1,000,000 though most houses are at least $2,000,000 there. Why? Are a lot of people just renting?
moreVoting Question: First time home buyer, where to go online for help?
So my girlfriend and I are looking to purchase our first house together later this year or early next year. We are starting to shop the market, figure out budgets, and see what is in our price range.
I'm not completely dumb founded when it comes to real estate but I certainly need to know more. Where can I go to find good mortgage calculators, info about different types of loans, types of insurance needed ect.?
Also, I have bad credit, she has good credit but not extremely established... what are our chances of getting a home if we both have decent paying stable full time jobs? I am 24, she is 21 at the moment.
Thanks
moreResolved Question: What is the fastest/most economical way for me to pay of my mortgage?I can afford to prepay, but I don’t know
Which one to pay of first or to prepay on all of them equally
I have 3 loans against my house, when I bought my house for 145K 3 years ago I had a 80/15/5 loan (to avoid PMI). And 2 years ago I got a HELC for 15K
Loans – (current balances) [monthly payment]
#1 – 116K (112K) @ 6% fixed for 30 years [$836]
#2 – 21,750 (19,860) @ 6.75% fixed for 30 years [$165]
#3 – 15K (14500) 4.25% adjustable for 20 years
My monthly payments for #1&2, including taxes are $1001. (I prepay my insurance) payment for # 3 varies but is $215 per month right now.
I CANNOT refinance, I have tried for 3 months now, with different companies, the numbers don’t make sense, and there is too much cost for it to help me.
I dont live in the property; it is a rented for $1050 per month.
I dont have any plans to sell it.
maybe i will try to refi or sell in a year
If you know of an online calculator where is can put in all of my figures and do it myself, i looked but coulnt find one.
moreResolved Question: I don't understand mortgages...What can I afford?
The mortgage calculators...I put in a number and percentage and it adds another 100 or so thousand to the total....Like 2000 a month for a house that costs 200k? I am so confused...Is this how it works or do these calculators just blow? Obviously the interest would be on the balance left each year, no?
moreVoting Question: How much can u afford calculator says im buying more than i can afford?
Im closing on my house in 2 weeks, and i just did one of those "how much can you afford" calculators but im not sure its right. Here are the details.
Take home pay is 4,000 per month. (i pay taxes at end of the year usually less than 400$ for the year)
30 year fixed @ 4% interest (yeah pretty low, right?)
100% financed 95% First mortgage 5% silent second
Purchase price 219k
PITI & MI = $1,350 per month
no car payment
no credit card payment
no debt of any kind
I thought i was doing pretty good, but this website says the max i can afford is 180k even at that low interest rate. Strange because lender said i qualify for over 300k+ but I felt i didnt want to get over my head so i picked a less expensive place. What do you think?
moreResolved Question: How true are the "how much house you can afford calculators"?
I filled out one of the calculators and it says I cannot afford a mortgage payment more than 57,0000 or 300 dollars a month, which isn't true as my rent is $860. So how true are the how much house you can afford calculators true.
moreResolved Question: Planning for 2008 Taxes- Cash Donations to Not For Profits & Other Deductions?
I got nailed on my '07 taxes, was expecting a big return and ended up owing...
Part 1: In the past I have supported a number of not-for-profits. I'm looking for guidance or resources which will allow me to calculate the maximum cash amount I should donate to charity while still realizing maximum tax savings. Is there a handy calculator somewhere on the web for this? Somehow I assume its more complex than that...
Part 2: I'm already putting 8% in a 401k and contributing to an FSA. I bought a house a few years ago but I really can't afford to live a comfortable lifestyle and support all of the bills too, and good luck selling a house at a decent price in this market! The good thing is that I do deduct mortgage interest and make a tiny piece of profit.
Any other suggestions to LEGALLY reduce my tax burden?
Sheesh.. I'm not even rich for god's sake.
moreVoting Question: House Buying, please please help?
Interest= 5%
25 year amorization
5 year team
bi weekly
house cost= 219.99
Using this link:
http://www.mortgagecentre.com/index.cfm?pg=21&CFID=994203&CFTOKEN=93153679
go to "Mortgage Payment Calculator"
How would i calculate:
mortgage
amount owning (after 5 years)
total interest paid (after 5 years)
total principal paid (after 5 years)
total interest paid (after 25 years)
PLEASE HELP!
HOUSE COST ** 219, 999
moreResolved Question: House Buying, please help?
go to this link:
http://www.mortgagecentre.com/index.cfm?pg=21&CFID=994203&CFTOKEN=93153679
then click on "Mortgage Payment Calculator"
Okay, so using that calculator how can i figure out:
amount owning (after 5 years)
total interest paid (after 5 years)
total principle paid (after 5 years)
total interest paid (after 25 years)
moreResolved Question: How much should we offer on our first home?
Together, my husband and I make about $70K per year. We don't have any debt (besides our cars) and are probably looking at about $1500 per month in bills (not including rent). We are in the market for a new house - but have no idea how much to offer. I have looked at a mortgage calculator online, but I also read that you have to add onto what the amount is because of home owners insurance (around $200). Just wondering what you would spend on a home if you were in our shoes. Thanks for the help! :)
moreResolved Question: I do qualify for a VA home loan, is it possible to get approved for a higher loan amount?
I have done those "mortgage calculators" , most of them say I can afford between 140,000 and 165,000...however the house Im looking at is 180,000. I was just wondering if it could be possible since it is a guaranteed loan to be approved for more....thanks!
moreResolved Question: Can somebody give me a clue on my mortgage payments?
I bought my first home about 8 months ago. I had no down payment and ended up getting two separate loans.
The first was $114,000 @ 6.75% 30 year fixed.
The second was for $38,000 @ 9.436% 15 year balloon.
Monthly payment on the first is: $1014.12
Monthly payment on the second is: $316.05
I can pay this. Its far from ideal but I'm paying only slightly more per month than I would for an apartment. I thought I might be able to refinance before too long but then too many people making $35K bought $350K houses and I'm thinking the chances of my doing that right now are slim especially since I've paid down next to no principle at this point.
Let's leave the atrocious 9+% one alone for a minute. I know there are insurance fees and real estate taxes built into mortgage payments but I'm plugging $114K and 6.5% over 30 years into the generic calculators online and not getting anywhere near what I'm paying. Any help?
Was supposed to be 6.75% used for calculations...typo.
moreResolved Question: Is anyone else getting annoyed with these "Cost to Raise Children" Calculators?
My husband and I have a budget, and now that we are planning on having a child I've looked at some of the cost calculators. At first it really freaked my husband out. Most of the calculators throw out $175,000 to $250,000 to raise a child.
I had to point out that many of them calculate 35% of the total (35%!!!) to housing. Umm, did I plan on renting my baby his or her own apartment? These are costs that we ALREADY have! Some of the calculators include costs for rent or mortgage, phone, and utilities. What do they think I'm doing until I have a kid? Living in a box by the side of the road? :)
Seriously, has anyone REALLY looked at these calculators? I find them humorous to slightly annoying (when everyone starts telling me how expensive it will be, and I have to point out what the actual costs will be, and which items I don't have to worry about - such as day care). What do you think about them?
I'm glad people are getting second-hand stuff. We plan on getting mostly used and second hand (who really needs a brand-new outfit that will only fit for two or three months?).
I have taken into account things like all the extra bottles and accessories. We'll be using cloth diapers mostly and disposable diapers sometimes (like getting up in the middle of the night).
As far as daycare and school I'll be staying home and homeschooling (at least that's the plan right now). Oregon has an awesome network for that! Even pass-me-down books so you don't have to spend so much.
Our current car will fit two kids and us, but we'll be saving in case it conks out in a few years. However, we buy all our cars used - my Tracker cost $1,000 and my hubby's Lincoln (which is super-nice and all-leather interior) cost $4,000. Usually our cars last about 10 years, so we'll see. :)
Yeah, the calculators are usually birth to 18 years or so, plus college.
Since my kid may not get a full scholarship like I did (the rules are different in this state), we plan on starting college classes early (around 15 or 16) and extending the costs out over more years. It's easy to do that whether you're in public school or homeschooling, depending on the program in the area. Of course, I really can't dictate that the kid go to college, except to take classes when they're younger like that. So we'll see.
Most caculators say they're in "today's dollars." But what most people don't remember about inflation is that your paycheck also goes up, so it's not as bad as the costs go up as it may first seem. Just a little more expensive.
Actually, diapers aren't so expensive when you use cloth ones. Plus, the waste they save from landfills more than makes up for it.
moreVoting Question: Is it a good idea to buy a condo to rent out?
I was considering purchasing a cheap condo (in the 110k range) and renting it out. It would be my first property purchase. Currently, I am a renter myself, and I'm wondering if this is still a good idea even if a few years down the line I may want to purchase a house for myself to live in. To a lender, would the fact that I simultaneously owned a condo (that was being rented out) be a postive or a negative?
An online calculator predicted I could afford a mortgage of about 180k and I forsee around 80% of the 110k mortgage+fees covered by rent.
The reason for the figure of rent covering only 80% is because I planned to rent it to a family member who would have a certain budget. However, the topic of whether or not it is a good idea to rent to family I don't want to get into. I just want to look at it for now as how the investment would or wouldn't benefit me personally, putting aside any cheritable aspect. Excellent answers so far, thank you.
moreResolved Question: (UK) one account mortgage - what are the catches??
My husband wants us to take out a one account mortgage. He reckons that you put your savings and income in there, your mortgage shrinks, say, to 3 years - then your house is completely paid off and you still have all your funds 100%intact. I have pointed out to him that this is to good to be true, and therefore probably isn't. I have read through the info pack and there are a couple of contradications - the on-line calculator said we could shrink our mortgage to 3 years, and yet the info booklet says the one account mortgage term is for a minimum of 5 years, also, one paragraph says that you can withdraw your savings at any time, and then another paragraph says your savings / lumps sum payment have to remain in the account for the duration of the mortgage term...confused? we are - are then any financial gurus out there who can help to simplify things in a nutshell for us please?? - specifically the pros and cons of taking out such a mortgage and any pitfalls to watch out for.
moreResolved Question: (UK) one account mortgage..what are the catches??
My husband wants us to take out a one account mortgage. He reckons that you put your savings and income in there, your mortgage shrinks, say, to 3 years - then your house is completely paid off and you still have all your funds 100%intact. I have pointed out to him that this is to good to be true, and therefore probably isn't. I have read through the info pack and there are a couple of contradications - the on-line calculator said we could shrink our mortgage to 3 years, and yet the info booklet says the one account mortgage term is for a minimum of 5 years, also, one paragraph says that you can withdraw your savings at any time, and then another paragraph says your savings / lumps sum payment have to remain in the account for the duration of the mortgage term...confused? we are - are then any financial gurus out there who can help to simplify things in a nutshell for us please?? - specifically the pros and cons of taking out such a mortgage and any pitfalls to watch out for.
Sorry - Steve B - was there supposed to be more to your answer??
moreResolved Question: Roth IRA vs. Savings Accounts vs. CDs, etc difference?
Hey guys, I'm 26, just married, but currently just a single income income as she's not working. We don't own a house yet (very bad credit, combined with low household income going into a mortgage is a non-starter). Anyway, my current savings reserve is $1000, I've been "paying myself first" for the past 7-8 months, $50. I'm also paying down credit cards and a loan of credit with a combined monthly payment of about $135 (If I paid minimums only it'd be $70 per month) - all credit cards should be paid off in a year. My question is, at this modest amount, in laymans simple to understand terms, what is the best return for the money? I know compunding is supposed to help in the IRA, but when I do calculators of $1,000 per year for 20 years, the returns are not that impressive. Seems like unless I have BIG money, I might be better off just putting in money into CDs or Bonds/Bills to save for a downpayment on a house in 3-5 years.
moreResolved Question: Mortgage Advice please?
Say for a joint income of £1800 per month, after tax.
1-how much could we borrow?
2-how long is a typical repayment period?
3-what sort of deposit are we looking at?
are there any websites with mortgage calculators?
All myself and my boyfriend are looking for is a small house 1 or 2 bed house in Norfolk. This will be our first property and we have NO IDEA where to start! Please Help!
moreResolved Question: on average, what do you pay for housing costs?
i'm not looking for your mortgage payment, because my hubby and i can easily use a mortgage calculator when looking for houses. but, my question is...
what extra expenses do you normally pay on your house (taxes, improvements, fixes)? i'm just looking for an average, so if you just put 30K into your kitchen, that's not what i'm looking for.
hubby and i are just trying to see how much we will need in addition to mortgage payments.
thanks
moreResolved Question: Why don't we qualify?
My husband and I are looking to buy a house. We took first time homebuyers classes, made out a budget for what we can afford, checked our credit scores, and paid down our only credit card by a couple thousand. We are both fresh out of college, so we have not started to pay our student loans, but we have figured into our budget what the payments will be. My husband got a really great job over six months ago, and that is the reason we are even looking. To get an idea of what our mortgage would be before we applied, we did a variety of mortgage calculators online and through the bank that we are applying through for our loan. We found out yesterday that we only qualify for $60,000, but all mortgage calculators and our budget tells us otherwise. We were thinking it would be closer to $80-$100,000. So what did we do wrong, and what do we do in the future. We have thought about asking my parents to cosign, but will that help that much,or do we need to pay our card off?(About $3000)
moreResolved Question: Buy with a 15 year mortgage, buy with a 30 year mortgage, or keep renting?
My fiancee and I are both 25, and looking to buy a house or a condo in our area since we're getting tired of renting.
Here's the tough part; we're pretty sure that we'll stay here for the next 4-5 years due to her school and my work obligations. Beyond that, we don't know. We might decide to stay here, or we might move to another city. We also might decide to upgrade to a larger house if/when we start a family.
I've taken a look at a few online calculators, and they all say that it makes more financial sense to buy than to rent over a 4-5 year period, but they all assume that the housing market will steadily (if slowly) increase over that time.
If we buy, I'd love to go for a 15 year mortgage to prevent paying more interest than necessary, but a 30 year mortgage would free up some money each month to put away if we end up moving.
Our credit history is good, but we don't have much in savings, although we're working on it.
Any advice or considerations I haven't thought of?
We're meeting with a mortgage broker next month to take a look at our finances to see what we can reasonably afford and what kind of loans we can qualify for. After that, we'll meet with a real estate agent to see what kind of property we can get for that. If we can't find anything we like that we can afford, then we'll keep renting, but at least we're looking.
This would be our very first home, but I'm willing to put in considerable sweat equity into a summer fix up project. We'd be nowhere near the 20% down payment to avoid PMI.
moreVoting Question: I am trying to find out how much mortgage I can finance on a disability income. Pension, SS, and worker's comp
The only calculators I can find are one's that ask for "before tax" income. I only pay a small tax on my pension, the rest of my income is non-taxable. I make 4200.00 per month AFTER taxes. How can I find out how much house I can afford. My only monthly payments are my car, which is 550.00 per month. I have about 12,000.00 as down payment. Thank you
moreResolved Question: First time home buyer...don't know anything about FHA loans or mortgage amount for my income???
I live in Colorado, just starting a new job where I will make a minimum of 68,500 (medical field so I will be able to increase my income to about 75,000 with extra hours). I'd REALLY like to buy a house, but with being a new graduate, I basically have very little for a down payment. I don't know how much of a housing payment I can afford per month while still saving money, etc. No student loans need to be paid off, the government is doing that for me, and I have minor other monthly payments, no children, and I am single...
My question is, are there any downsides to an FHA loan?? Can someone give me a straight answer about how much of a mortgage I can afford, instead of these generic online calculators?? DON'T REPLY WITH GENERIC ADVICE THAT I HAVE ALREADY FOUND ONLINE. I would like to hear someone's personal experience. Being a first time buyer, I don't want to live beyond my means and become another casualty of the housing market...Thanks!
moreResolved Question: Mortgage Question?
I have $25,000 in cash and would need to borrow an additional $100,000 to get the house I want so when the mortgage calculator asks how much you want to borrow and then asks what your down payment is going to, percentage wise, should I be putting in that I need to borrow $125,000 and will be putting a down payment of 20% down?
moreResolved Question: What do I need to to before I even look at purchasing a house?
The reason I'm putting this in weddings is that I'm here most of the time and figure there are people here in the same situation. Thanks for your help!!
I know a fixed rate mortgage is better than a variable (9 times out of 10).
I have looked at some of the calculators online and am having trouble with the tax and insurance rates, as I will be a first time buyer. Any ideas where I can find that information?
Any general suggestions? We are working on paying off our credit cards, car, and student loans.. Saving as much as we can for a down payment..
just under a year ago, my credit score was in the mid to upper 600's (depending on the credit company). I will be checking my credit again once it's been a full year.
Also, just as a side note, I am not looking to e-mail someone to get approved for a loan. I am nowhere near that point yet, but thank you for any advice you can give.
moreResolved Question: have a question about monthly mortgage payment...?
alright, buying my first house, so sorry if this is a dumb question. i've seen the mortgage calculators that you put in the estimate cost of your home and down payment and it gives you your monthly cost. well they say that the amount does not include insurance or other charges. so just wondering how much monthly are these other costs? like if it says my estimate monthy payment is $850, how much can i actually expect to pay with all these other charges.
oh and also how much money other than the down payment can i expect to pay up front, like closing costs, and whatever else there is?
all right, thank you
moreResolved Question: How do I know how much I can afford for a house/flat?
Where do I start if I'm thinking about buying a first flat? How do I know how much I can afford? What does that relate to mortgage repayments? How much will i need every month to cover everything? Any good calculators online for this or any good book s for first time buyers with no idea where to start?
moreResolved Question: Combining Credit for Home Purchase?
Here's the situation. My boyfriend and I aren't married yet, but we are looking for houses together very soon. After doing some loan calculators online, we finally went to a mortgage lender and got pre-qualified. Alone - I qualify for $140,000. But that's not really enough for the market we are in and what we need for our families. We've been told he can be on the deed but not the loan. So here's the question, if we got married, what would happen to our combined credit scores? Would they combine them? Would it hurt me at that point? Our combined incomes would put us where we need to be but would the banks even care?
Thank you in advance for your help. This whole process can be so stressful!!!
moreResolved Question: Mortgage Calculator?
where to get mortgage calculator for housing loan with Malaysian context?
moreResolved Question: I need an online budget planner for dummies!?
I may be moving 1500 miles away, I have a house that is mortgaged and don't want to sell it. I will need to figure out a budget. I'm looking for an online budget planner/calculator based on my income/# of people in household/where I will be living. I'm not entirely sure I can afford to move without selling my house and I have to make a decision within a few days. Please help!
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