This Our Best Mortgage Rate Com Page...
Where we attempt to give you the top resources about Best Mortgage Rate Com available on the net.
Recent Best Mortgage Rate Com News
best mortgage rate com
With current mortgage rates at historically low levels, many homebuyers and mortgage holders are asking whether a variable-rate mortgage or a fixed-rate mortgage is best for them. How, exactly, are mortgage rates offered by lenders determined? Many ...
Read more
Understanding Trends Behind Current Mortgage Rates - HULIQ.com
If it weren't for impatience, we wouldn't have this whole mortgage crisis," says Carolyn Warren, a veteran mortgage broker and author of "Mortgage Rip-Offs and Money Savers: An Industry Insider Explains How to Save Thousands on Your Mortgage or Re ...
Read more
Time is Money - So is Patience - CNBC
The New York Times had an article about our triple-deckers this month. Besides quoting what Dennis Lehane thinks of them, Abby Goodnough quoted these statistics about foreclosure in this kind of housing: In Boston, three-family homes represent 14 ...
Read more
I'm a fan of rental property - Boston Globe
THE FEDERAL RESERVE IS NOT PROVIDING HINTS about any exit strategy from its policy easing. Following its two-day policy meeting, the Federal Open Market Committee Wednesday reaffirmed its rock-bottom 0%-0.25% federal-funds rate target and its plans ...
Read more
No Exit: FOMC Remains on Hold - Barron's Online
WASHINGTON (AP) - New signals the recession could be nearing a bottom emerged Wednesday in figures showing that orders to U.S. factories surged last month for everything from computers to aircraft and that a gauge of business investment rose by the ...
Read more
Recession may be near bottom, new data suggest - Charleston Daily Mail
The Fed highlighted fresh signs of economic stability, but most sectors pared morning gains that were driven by some positive economic data. In recent trading, energy and consumer staples were the weakest sectors. "Investors continue to focus on both ...
Read more
Dow Falters Post-Fed; Nasdaq Up - Wall Street Journal
Futures popped about 5 points as durable goods were unexpectedly positive (up 1.8 percent, expectations were for a drop of 0.9 percent). Futures were up earlier as the Organization for Economic Cooperation and Development (OECD) raised its growth ...
Read more
Durable Goods Causes The Big Pop! - CNBC
View Ratings | Rate It President Obama recently announced an initiative $75 billion called the accessibility of owner of a house and the plan of stability (HASP). One of the head lessees of the Loan Modification plan is called the initiative ...
Read more
Obama's Loan Modification Plan – Get Easily with below steps - OpEdNews.com
The Co-operative Bank said it has seen a 75% jump in mortgage applications following the launch of its best buy tracker deal. The group is offering a three-year tracker at 2.39%, or 1.89% above the Bank of England base rate, for people with at least ...
Read more
Co-op mortgage applications soar - Channel 4 News
Markets are fixated on the outcome of the Fed’s two-day meeting, with the statement due out around 2:15pm. Few expect big changes on its policy, however, so tweaks on language about the economic outlook and a possible extension of its purchase of ...
Read more
Relevant Best Mortgage Rate Com Links
Best Mortgage Rate Com Questions and Answers
Open Question: Are there hidden fees when you buy a Pre-Foreclosed home on default? What's the catch?
I'm looking through Foreclosedhomes.com, and I've found homes that that cost as little as $2,000 dollars. I click on them and it shows a mortgage calculator and even if I put a high interest rate, such as 7%, the payments are always bellow $100 dollars. Is this right? If I choose to get this mortgage and pay for this home, is it legally mine? My mom says I'd have to "pay the default and then pay the estimated value of the house". Can someone please explain to me if paying that much for a house is really possible?
moreOpen Question: How can I get out of a 5yr adjustable rate before it matures in January if my husband is on unemployment?
Me, my son and husband are all on a mortgage for a apartment building we own. Now my son and husband are laid off and our 5yr adjustable is about to come up. How can I make this better before I get a ridiculous rate in January?? Please help
moreOpen Question: paying cash for a home and few Q?
Hi , my parents decided to by a not very expensive condo paying cash. But they to put it under my name. My Qs are
1- do I get any tax deduction? I assume no but any other benefit?
2- Do I loose my future advantages as a first time home owner regarding the mortgage rate and etc? tnkx
moreOpen Question: getting a mortgage when you have no credit?
is it possible? i have cosigners, 5% down, no problem income-wise to make payments, but i have no credit and my husband has one thing against him.
At this point i dont even care what kind of interest rate i get, as long as i get it done. My mother-in-law is dying and needs me out there to take care of her, and my daughter is signed up for kindergarten in the fall - this has to happen!
any help or advice?
thanks
moreOpen Question: What are the advantages and disadvantages of fixed versus variable rate mortgages?
moreOpen Question: UK Credit History - Remortgage next Jan/Feb!!!?
Answers from financial advisors / mortgage brokers etc are very welcome...
18 Months ago I bought a house with my other half, but due to her making 3 late credit card payments a year or so prior to our mortgage application, it worked out better for the mortgage to be in my name only, as opposed to a joint mortgage. She apparently had a poor credit rating. The mortgage rate was fairly high (6.26%) for that time due to the risk of a single applicant, considering others were getting mortgages around the 5% mark!!!
In the meantime, we've been working on building her credit rating up... Buying stuff in her name on credit cards, paying back in full immediately etc. But this month she has gone overdrawn on her bank account, and missed a credit card payment... After 18 months of "hard work", its fair to say that I wouldnt mind strangling her right now!
Do you think this nightmare month has screwed it all up for when our 2 year mortage expires in Jan/Feb 2010, and we try for a joint application??? Or does the credit history only start getting affected after a number of consecutive missed payments etc....
Heres hoping the rate is lower next time!!!
Many thanks...
moreOpen Question: Property Valuation Whats a street rating?
On the property valuation that I got done though a mortgage broker, their was a street rating, what exactly is that?
moreOpen Question: I paid 300 to work with a Quicken Loans adviser who promised to help me qualify for a home loan the adviser...?
lacks in communication and addressing my needs. He represents Fresh Start Credit coaching/via Quicken loans; however I seem to be doing all the work - several dispute letters came back to me in my favor and one credit is to be legally removed - I have legal documents to support this - and my credit score has gone above the required score for a mortgage. I faxed documents to him today and emailed twice and did not get a response. My frustration is that I paid 300.00 up front based on his guarantee as an adviser - I emphasized to him that I needed to get this moving asap because I have my grandchildren living with me in a small rental home at 900 per month. Now because he did not respond to any of my correspondence today - I feel that his guarantee wasn't genuine - my 300 would be refunded once I got a loan - and I have found a home - but at this rate I do not think that is going to happen. I would like my money refunded because of misrepresentation and I still need to get a home loan - any suggestions? Thank you in advance
moreOpen Question: When is it time for me to choose a different lender?
Hello. I currently have a mortgage lender that I am working with to secure a home. I chose this lender because of all the benefits that their relocation program offered: No closing costs, competitive rates, and real estate agent rebate. It all seemed great, still does. The problem though is that I cannot get in contact with the lender as I would expect I should. I will call or e-mail them and not here from them for days or weeks. I have to consistently pester them in order to get a response. Even now I am attempting to get a pre-approval letter to send with an offer. I have not heard from them after a day. This is an accredited credit union that does business with my employer, a Fortune 500 company.
I am getting frustrated with them. When do I say enough is enough and go with my second choice in lender?
Thank you in advance for your advice.
moreOpen Question: Help with closing mortgage questions !?
29) Match the information to where you will find it in the closing documents (you may use answers more than once):
A. Errors and Omissions Complience
B. HUD1
C. Mortgage
D. RESPA Servicing Disclosure
E. Promissory Note
F. Truth In Lending Statement
(A B C D E F G H ) Cash from borrower The total dollars you have to bring to the closing to buy the house.
(A B C D E F G H ) Where you promise to pay back the money You also pledge to pay it back no matter what happens to the house.
(A B C D E F G H ) Rate Disclosure The lender confirms on this document if the rate is fixed or variable
(A B C D E F G H ) Mistakes at the closing? This says if there are clerical errors you must sign new documents with the correct information after the closing.
(A B C D E F G H ) Transfer Estimates The lender discloses what the chances are your loan will be sold to another entity or that someone else will process your payments.
( A B C D E F G H ) Pre-paid Interest Money you will pay at the closing for interest in advance so that the payments will come due on the first of the month in the future.
(A B C D E F G H ) Estimated Payments How much you will pay over the life of the loan, total payments and total finance charges.
(A B C D E F G H ) Security Document This document pledges the home as collateral for the loan and says the bank can take it back if you default on payments.
moreOpen Question: Which is more important to pay?
You have lost your job, you don’t know when you will find another. Your cash available for bills is down to $1500.00 for the month. These are your bills, which do you pay?
Amount Due - Name - Rate
1100 - Mortgage - 8%
400 - Loan to Aunt Gertrude - 11%
325 - American Ex Optima - 15%
175 - Discover card - 10%
125 - Diners Club - 19%
75 - MBNA Visa - 17%
225 - Chase Visa - 9%
300 - CitiBank MasterCard - 18%
275 - Fleet MasterCard - 16%
150 - Electric Bill - 12%
250 - Gas Bill - 12%
moreOpen Question: You take a $150,000 mortgage at 11% interest.?
You take a $150,000 mortgage at 11% interest.
Which of the following statements is false?
A. You can pay a fair amount of extra principal down on your loan (say even doubling the payment) every month or never, it's your choice whenever you want to and there will be no penalty imposed by the bank as long as you make the minimum scheduled payment.
B. If you could improve your credit to reduce the rate to 8.5% over a thirty year term you would save about $100,000 in total payments.
C. Over a 30 year term you will pay a total of over $500,000. By increasing your payment by only around 18% you may reduce the term by ten years and save over $200,000.
D. If you take a 20 year term adjustable mortgage at 11% and in 5 years the rate goes to 12%, then in 10 years to 13% and in 15 years to 14% you have 5 years at each rate for an average of 12.5%. This costs the same as a mortgage at 12.5% fixed from the start and you save money the first ten years.
moreOpen Question: Protecting my inheritance if I get divorced?
I've recently had some inheritance left to me which I'm contemplating using to put down onto the mortgage, to get us a better rate (less than 75% LTV) and reduce monthly repayments. To do this I was thinking of putting down some £40K.
I'm married, and have been for almost 2 years though been together 8 in total, get on great and have no signs of ever getting divorced. On the flip side, if divorce does happen and we both hate each other, chances are the £40K I've put down will vanish into the rest of the estate value and will be split, unequally I bet! How can I protect the £40K I'm putting down, so that it doesn't get split. I've seen cases where men and women loose vast sums of cash, because of divorce. All I'm trying to do is protect my future should anything happen.
I live in the UK (England) so that lands law will apply.
moreOpen Question: Will Bi weekly Mortgage payments help me or not?
My loan is for 106,900 and i have a 30 year loan with a 5% int. rate. I am going to make an extra 500 dollar payment each month. I was wanting to know if it would be beneficial to do a bi weekly program or not?
Would it be more beneficial to do both though
moreOpen Question: won't cap and trade accelerate mortgage defaults?
The "carbon polluters" will pay for their carbon ways. But these guys are utilities, they just pass the cost on to their customers. So when your utility bill doubles, and your food bill increases because of increased costs, will you be able to pay off your new higher ARM rate that is being driven up by the national debt? Middle America, you are so screwed.
moreOpen Question: Fixed rate mortgage and interest rates going low?
I have a fixed 5 year mortgage rate and few days ago my friend mentioned that because interest rates are so low at the moment it means Im overpaying and therefore it should wipe off a year or so of my mortgage. Is it true?? Im clueless in mortgage things .....
moreOpen Question: need mortgage advice?
hello I have been turned down for a 90k mortgage with 10% deposit, does this mean I wont get it from anywhere else? They said my credit rating wasnt overly high but I dont have any ccjs or defaults, the only thing that I can think of is one late payment on a store card.
moreOpen Question: Is consulting with my mortgage company worth it?
I have just received a pay cut in my pay check and I don't think I am going to be able to afford my mortgage along with the other bills that we all have. Power, satellite, food, and etc...........
Is consulting with my mortgage company (B.O.A.) worth it, or will they just say you are screwed? I haven't been late yet, and I am just trying to avoid that problem. Can they lower my rate or my payments?
I am just trying to keep a roof over my family's head, and food on the table. What happened to helping the people that work hard and try to do things the right way?
moreOpen Question: Winston-Salem Mortgage Purchase...?
*sigh*
I'm a first time home buyer who is trying to analyze a quote from Bank of America. The loan is for $65,500, with 10% down that's $58,950. With about $14,500 in the bank, I don't think we have enough to put down 20% and cover closing costs. The seller agreed to $1,250 in closing plus $550 in homeowners insurance. Besides, they are doing over $500 in repairs. My wife's credit score is around 740 and mine is about 720. I think I will be the borrower and she will be co-borrower. It is a 15 yr. fixed rate loan:
Down Payment.......................$6,550
Annual Percentage.................5.576
Interest Rate..........................4.875
Discount Points......................0.75
Total Points............................0.75
Discount Fee..........................$442
Application Fee.......................$400
Processing/Commitment Fee...$725
Escrow Settlement Fee...........$450 (approx.)
Total Title Fee.........................$381 (approx.)
Total Prepaid/Reserves............$1,216 (approx.)
Cost at Closing.......................$10,654 (approx.)
As of yesterday, 22 June 2009.
Does anyone think it's a good idea to add our part of the closing costs into the loan in order to put 20% down? Should I make my wife the primary borrower?
moreOpen Question: Can I Get A Mortgage?
Me and my family are trying to move into a house...the thing is my dad's credit is bad and mine is good (720-750) right now....but the problem is ..im 21 ...just graduated college...and don't have a job due to the economy...my dad has his own business and can pay for it easily and will be paying the mortgage but he doesn't have the credit to qualify...or if he does the rates will be bad
so if we go to a bank or something to get a lending letter or proof of funds will they approve me? even though it will be under my name but my dad will be making the payments?
Thanks
moreOpen Question: wanting to rent my property...?
i bought a flat in feb so have a fixed rate mortgage of 2yrs. i am fortunate to have a small mortgage on the property, my circumstances have now changed and don't feel its the right time to sell but think renting will be the best choice for me at the moment.
i have had a few people interested in renting which i would be happy to rent the property out to them but would i still be best off using an estate agent? (i will be contacting but just want some knowledge before i contact them)
would i need to change my mortgage to a buy to let mortgage?
how would i sort the tax on the extra earnings from the rental ?
i take it i would need to contact the insurance companies of the change but will the premiums rocket up with change?
a possible £150 could be made after mortgage and insurances what other deductions to i need to take into account before tax?
if you can offer any advice from your own experiences i would be very grateful. thanks :-)
moreOpen Question: What recourse can I take against a dishonest mortgage consultant?
My mortgage consultant made a mistake on my refinance application that caused my first application to be denied. After correcting the mistake and resubmitting the application, he told me point blank that the rate lock had been transferred to my corrected application. With the mistake corrected, I was approved for the refinance, but the rate lock had not transferred and my interest rate went up 1%. He left me voice mails stating that my rate had transferred, but would not provide it in writing even upon request. I am going to try and speak to his branch manager, but if I don't hear what I want, I would like to know what avenue I can pursue next.
moreOpen Question: Do I have to miss at least 2 mortgage payments before the mortgage companies are willing to renegotiate?
I have a primary residence that is privately financed by the owner. The houses that I want to negotiate the terms of the loan such as lowering interest rates are my 3 rental properties. All 3 of the rental properties are financed through Bank of America (originally done by Countrywide).
moreOpen Question: Is the mortgage interest rate based on the primary buyer or the joint buyer?
A friend of mine is trying to finance a home with her dad as the primary buyer. His credit score is 817 and hers is 610. They are putting $90,000 in cash down and will only be financing $42,000. The house appraises for $154,000. The first bank they went to told them that the only way they coud get a fixed mortgage was if they went through Fannie Mae (nobody else offers fixed rates?). A broker told them that the only way they would get a good interest rate was if he were the only person on the loan. This sounds strange to me. Can somebody shed some light on this situation?
moreOpen Question: How can i get low interest rate mortgage loan?
My household (my self and my wife) income is around 42K per year. I am planing to buy house. will i get any low interest rate because of low income. my credit score is really good above 800.
moreOpen Question: the two main responsiblities of the federal reserve system are to?
a. conduct monetary policies and oversee financial markets
b. enable banks to make affordable mortgages and control the exchange rate of the US dollar
c. insure bank deposits and print currency
d. apprehend counterfeiters and regulate the stock market
e. collect taxes and pay the government's expenses
moreResolved Question: Qualifying for a mortgage loan?
Qualifying for a mortgage loan?
My fiance and I would really like to purchase a home in the next few months (preferably before December 1st to get the first-time buyer rebate), but I need to know what our options are.
Currently my credit score is 650, but is rising slightly every month. The only debt I have is federal student loans (about $8500), which I pay on time and more than minimum every month. My car is paid off, I have no CC debt, etc. I also don't have any open accounts other than the student loans, so my credit to debt ratio is bad.
My fiance went through a divorce and his credit is all but destroyed. His score is 559, and I've just begun to start helping him repair it. I'm positive we can raise it in the next few months, but not enough for it to be considered "good."
My documented gross income is about $28K (I also have some under the table income, but no way to show this). My fiance's income has taken a big hit this year--on last year's tax return, his gross income was $59K, but as of now, it's looking like he'll finish this year at about $44K. Still a lot more than mine.
My credit is better than his, but I don't think there's any way I can be approved for a loan with my lower income. I need his income, but with his horrible score is there any loan we can be approved for? I know we can be approved with a 20% down payment and high interest rates, but we just won't have 20% ready before December 1st. We can for sure have 5%, and perhaps 10%. What are my options?
moreOpen Question: How can we qualify for a new lower rate, fixed mortgage?
We are a family of 9 (all relatives) living in Grandmas house. We all contribute to the mortgage payment. Grandma has good credit and got a mortgage in 2007 through a mortgage broker under the "loose" regulations. She did not need to prove income. She had to show a city business license. The family’s contribution is made up of employment (taxed), social security and cash (not taxed) sources. We have faithfully paid, are current on the mortgage and have never been late. The current mortgage is at 8 ¼% and we are paying interest only.
moreOpen Question: How is interest calculated on mortgages?
I have a mortgage on £76000 at a rate of 7.44%
So in my calculations thats £82,000
but the mortgage people say ill end up repaying £210,000 at £450 a month over 40 years.
Can someone explain this to me please?
Many Thanks :D
moreOpen Question: How does this mortgage work?
I borrowed £76,000.
The rate is 7.44%
But the monthly repayment is £450 over 40 years.
Surely it should be lower?
Thanks in Advance :)
moreOpen Question: Can anyone give me advice on a Swedish salary & cost of living?
Does anyone know what a good wage is in Sweden?
I live on London near W1 and need to cover my mortgage here as well as rent in Sweden soon.
Is 5000 Euros per month enough? Would that be enough for Sweden as I hear it is expensive?
Any advice on a good exchange rate website online would be great as well :-)
moreOpen Question: Help me out with this math problem.?
I have $50K. I could either use it to pay cash for a mobile home or use it to put down 20 percent on a townhouse in the same school district. Lets assume my lot rent is 600 per month. It will go up 3% per year for thirty years until the mobile home has lived its useful life. My mortgage on the townhouse is 1500 dollars per month, including principal, interest, taxes, insurance, and HOA fees.
Lets assume I invest the 900 saved on the mortgage and earn 5% per year. On the other hand, let's assume the house appreciates at a rate of 3%
Am I better off buying the mobile home or the townhouse.
It turns out the house would be worth 606,815.62 in 30 years.
Here is the final balance on my 900 savings after 30 years:
749032.77
moreOpen Question: What do people think about this newspaper column and illegals?Illegal immigration costs us all dearly?
Illegal immigration costs us all dearly
http://www.eastvalleytribune.com/story/140777
Linda Turley-Hansen, Commentary
June 20, 2009 - 5:50PM
Catastrophe, in the aftermath of the collapsed housing bubble, still pervades our East Valley while blame searches for a home.
We already know that Fannie Mae and Freddie Mac are two of the baddies. Their downfall began in the 1990s, under a Democratic administration, when the two quasi-private mortgage companies, in cahoots with the feds, were pressured to finance underqualified buyers.
Though there were some efforts to correct the problem, the failed policy continued to worsen under the Republicans.
Even with that, the monster bubble could not have happened unless the market met demand. Think about it. The market responded with the help of huge numbers of low-paid, illegal workers. Their agents were not only industry lobbyists, but also those who insisted Americans wouldn’t do the work. They spread the mantra beyond our southern borders, and underprivileged Mexicans heeded the call.
Now, our depressed neighborhoods speak to the results of that vast, cheap labor force. Did I mention illegal? Did I mention citizen workers were kicked to the curb?
Several weeks ago, I wrote about East Valley residents who not only do dirty work, but they love it. They are regular, struggling folk, who tend to be the catch basins for the runoff from fabricated civil rights; they’re the designated losers when illegal players cut in line.
Several responses from readers to that column, confirming the lie that “Americans won’t do dirty work,” deserve to be published.
This, from Fran and John Anderson, longtime Mesa residents: The Andersons are parents of three sons. Sadly, the illegal avalanche penetrated their lives in an unimaginable way.
“We appreciate your article on 'do the dirty work.’ We have felt this way for so many years. Especially when back in the early 1990s our oldest son wanted to do landscaping so badly. He loved being outside, didn’t mind the heat, enjoyed camping, hunting … all that good stuff. When he got out of the Army, he tried to get into landscaping … but the white people were the minority, so wouldn’t be hired. He ended up not doing anything and passed away shortly thereafter by his own hand. All he wanted was to do what he loved.”
A veteran, lost in civilian life, gets caught in the crosshairs of an industry pirated by illegal workers — a double whammy.
And, this from Rick Wagner, owner of Wagner Installations Inc: The Mesa resident was once a flooring installer who tried to compete. In early 2000, Wagner was asked by “every company he worked for to lower his pricing to match the illegals’ rate.”
His answer was he couldn’t and still remain in business because “I report my taxes ... carry workmen’s comp(ensation) ... and I’m licensed.”
Wagner said that soon, every one of those companies switched to an almost exclusive Mexican installation force. Determined to survive, he went on to start his own flooring business.
He “beefed up his English speaking, citizen crew” and, today, while so many flounder, Wagner is flourishing because the construction industry is slumping; illegal immigrants can’t find work; homeowners are uncomfortable with illegals in their homes; immigration controversy over tax avoidance and the love of benefits; crackdowns on illegals and companies that hire them; the E-Verify program.
And, finally, Maricopa County Sheriff Joe Arpaio. “Illegals do not want to stay in Arizona with him around,” Wagner said.
“The above are reasons why all but two of the companies we worked for in the past have gone under,” Wagner said. “In contrast our company has grown ... beyond our expectations.”
He warns, “Wake up Arizona and look at the costs associated with illegals in our system.”
An entire culture has been built out of the promotion of illegal workers, a culture that assisted in inflating the bubble that has deeply harmed our economy. This day was bound to come, in which Americans are forced to reclaim their job market, bent and broken. Left alone, citizens themselves can do so — without fed intervention. Too bad the Andersons’ son isn’t here to help.
—
Linda Turley-Hansen is a syndicated columnist and former veteran Phoenix television news anchor who lives in the East Valley. She can be reached by e-mail at letters@lindastake.com.
moreOpen Question: Does Canada possess about 10 Trillion dollars to fix the economy?
I just got this email regarding how to fix the economy in canada, I'm sure if it was as easy as this preson makes it seem it'd have happened:
=================================================
From: hend@goinet.ca
To: ;
Subject: Fw: RETIREMENT PLAN
Date: Sat, 20 Jun 2009 15:53:35 -0500
Dear Mr. Harper,
Please find below my suggestion for fixing Canada's economy.
Instead of giving billions of dollars to the car industry that will squander
the money on lavish parties and unearned bonuses, use the following plan.
You can call it the Patriotic Retirement Plan:
There are about 10 million people over 50 in the work force.
Pay them 1 million apiece severance for early retirement with the following stipulations:
1) They MUST retire. Ten million job openings - Unemployment fixed.
2) They MUST buy a new CAR. Ten million cars ordered - Automotive Industry fixed.
3) They MUST either buy a house or pay off their mortgage - Housing and Mortgage Crisis fixed.
4) They must send their kids to school / college / university / military (my suggestion) - Crime rate fixed.
5) Buy $50 of alcohol/gas a week - there's your money back in duty, tax etc.
It can't get any easier than that!
P.S. If more money is needed, have all members of parliament pay back their falsely claimed expenses and second home allowances.
If you think this would work, please forward to everyone you know.
================================================
that equals about $10,000,000,000,000
i'm drunk right nwo so I have to refer yo some sober minds like you all to tell me, what the fuck
moreOpen Question: When a bank makes a interest rate commitment?
When a bank makes a mortgage interest rate commitment, it agrees that its lending rate will be fixed subject to the loan application’s being accepted and other conditions of the loan being satisfied. The bank knows that if market mortgage rates rise, borrowers are likely to hold them to their commitment; but if rates fall, borrowers can choose to finace their mortgages at the lower rates. What options contact is a way to offset the risk the bank makes when fixing the mortgage interest rate in advance? Expalin
moreOpen Question: Is it legal to charge 14% interest rate on a home mortgage?
I used a private investor to purchase a property. They charged me 14% fixed interest rate @ 24 months, interest only.
This is our primary residence, not an investment property and I needed to arrange funding within days, and this is the only choice I got.
Is it legal to charge that much of interest rate in Texas?
moreOpen Question: Credit Cards for Teens - Any Advantage in the Window before the New Law Clamps Down?
I know I'm in a minority thinking that a responsible 18-year-old should build a credit history through use of "real" credit cards. While I don't want to provoke arguments here, I'll just say that my 20-year-old daughter has a TransUnion credit score (creditkarma.com) of 760 that I can't help but believe will help with favorable loan rates on a first mortgage.
As I understand it, with a few exceptions, most of the provisions of the new "Credit Card Accountability, Responsibility and Disclosure Act of 2009" -- and I presume including Title III (the controls on under-age-21 issuance) -- don't become effective until February 2010. What are the big-name card issuers doing over the intervening months?
I'd like to get my 18-year-old son building his credit history, and for right now he's got a 2-month-old Citibank secured card (required a deposit equal to the credit limit) with a very, very modest summer lifeguard job income. I suspect it will improve his creditworthiness after building some months of a good history on the secured card to switch to a regular credit card. While I could always co-sign, it seems logical that it might be preferable for credit score purposes for it to be just his card. I figure he needs to wait to have a number of months of secured card transactions before going for the real thing. I don't want to see him wait too close to February 2010. Or are the major banks already reining in their credit for teens in view of the impending restrictions?
moreVoting Question: whats is the current mortgage rate?
If you bought a house in last 2 months. whats the APR you got. Can you translate your mortgage amount to monthly payments?
moreVoting Question: quotes on interest rate options?
where can I get these? I'm looking in particular for the short-rate. I tried option chains on "IRX", but there's no open interest. I know it's a vastly liquid market but I can't find it!!!!
The point is I want to see the probability distribution on 10 year maturities to see how much of a rip-off locking in on a 10y mortgage rate is
Thanks,
.
moreVoting Question: Does Private Mortgage Insurance change yearly?
I'm planning on buying a home and can only put 10% down. We are thinking about going with an CHFA loan, however there is an upfront fee of 1.75% of the principal balance that can be factored into the loan. This loan also has 1 point; so basically we are paying a 5% interest rate on 2.75 points. My question is will a CHFA loan be worth it if we are still paying 2.75 points and will the PMI remain at around .500% of our loan until we have 20% equity in the home?
moreVoting Question: Anyone recommend a home mortgage lender or know of a good comparison site?
Just curious, some of the comparison sites i knew of are hardly coming up with anything in my area. if anyone knows of a good lender with a low fixed rate loan option id like to hear about them as well, i have very good credit and a stable income
bank rate is what ive been using, only gives me like 4 option if i pick 20% down and 1 if i do 5% down, and im thinking more like 10%
moreResolved Question: Financial accounting true or false help?
1.Bond interest paid by a corporation is an expense, whereas dividends paid are not an expense of the corporation.
2.Financial leverage refers to the practice of borrowing at one rate and investing at another.
3.Neither corporate bond interest nor dividends is deductible for income tax purposes.
4.Secured bonds are issued against the general credit of the borrower.
5.The corporation issuing the bonds does not journalize transactions between the bondholder and other investors.
6.If bonds are issued at a discount, the issuing corporation will repay an amount less than the face amount of the bonds on the maturity date.
7.If $180,000, 9%, bonds are issued on January 1, and pay interest semi-annually, the amount of interest paid on July 1, will be $8,100.
8.The debt to total assets ratio measures the degree to which a company’s assets are financed internally.
9.Instalment notes with blended principal and interest payments apply a fixed amount to the principal balance of the note with each payment.
10.A long-term note that pledges title to specific property as security for a loan is known as a mortgage payable.
moreOpen Question: If you have a credit score that is considered poor or poor to fair but you don't want to go into debt?
just to help the credit score along, would you advise someone to save all cash for a house if they live in a cheap housing market, or go ahead and buy a house even if the mortgage rate is high?
I ask because my rent is really cheap but I don't want to rent forever, and it seems that according to most websites, if I follow the Dave Ramsey plan to stay out of debt, I won't be able to help my credit score enough to qualify for a mortgage. Thanks!
Oh yeah, Jolie, I forgot to mention that spammers like you that spam the same answer to multiple questions will be reported.
moreVoting Question: Help need a car loan ? How to get one ?
I want to buy a new Scion Xb 09. This car would be purchased on my husband's name because his credit score although it's low 636 it's much better than mine of 585. The dealership is offering a 6 yrs $360 a month finance plan but that's way too much interest on a car of $17,000. At the end of the 6yrs I would have paid over $25,000 in total. We tried to get a loan of 15,000 with our bank ( of america) and suntrust but both banks denied. We're both in college, but we have full time jobs, and we don't pay rent or mortgage because we live on one of his dad's properties. Where else can we go ? Where can we go for a loan with lower interest rate ? Oh and our down payment would be of $2,000 to $3,000. Please help with any suggestions this is the first time we're doing this so we're kind of clueless....
moreVoting Question: how do i serve a writ against my mortgage lender for mis-information?
1. Basically refused top loan only ask for £15,000, NO explanation
2. They then paid off £70,000 in mistake on the mortgage , reduced monthly payment, when I enquired refused to acknowledge or reply.It took 3 months AFTER I chased the issue for the correct figures being re-instated.
3. By this time it was too late , as I was applying for additional funding loans, re-mortgage got an offer from the Abbey, but had to decline as they had conducted reaches on the WRONG figures being supplied by the Halifax. This escalated by total refusuals from any potential lender . Thanks to he Halifax Iwas made to look fraderlant and dis-honest.
4. They have ruin my credit rating which may never be restored to it's xorrect level.
5. Have left me in financial ruin, with no one to turn to.
6. Caused no end of family stress and grief.
7. The Halifax have NEVER apolgise or reply to numerous numbers of complaints , I even pleaded with them to write to the Abbey, and ALLthe other company to explain THEIRmistake or just a coverinfg letter to explain what had happened but again NO reply ever.
8. I need to be compensated for theHalifax ruining my life.
moreResolved Question: Is this the answer to Britain's problems...?
This actually comes from Australia... but it seems to fit in the UK as well!
Dear Mr. Swan,
Please find below my suggestion for fixing Australia's economy:
Instead of giving billions of dollars to banks that will squander the money on lavish parties and unearned bonuses, use the following plan.
You can call it the Patriotic Retirement Plan:
There are about 10? million people over 50 in the work force. - Pay them $1 million apiece severance for early retirement with the following stipulations:
1) They MUST retire. Ten million job openings - Unemployment fixed.
2) They MUST buy a new Australian CAR. Ten million cars ordered - Auto Industry fixed.
3) They MUST either buy a house or pay off their mortgage - Housing Crisis fixed.
4) They must send their kids or grandchildren to school / college /university - Crime rate fixed
5) Buy average levels of alcohol / tobacco a week, so there's your money back in duty / tax etc
It can't get any easier than that!
P.S. If more money is needed, have all members of parliament pay back their falsely claimed expenses and allowances
If you think this would work, please forward to everyone you know. If not, please disregard.
Grain... I said this comes from Australia! It is clearly NOT my idea. Try READING the question.
moreResolved Question: Does mortgage broker have to get my signature when they lock the rate ?
1) Does mortgage broker have to get my signature when they lock the rate ?
2)Do I get any paper or document as a proof that the mortgage/broker or lender has locked a rate for me what he has promised ?
moreVoting Question: Should I lock in 30yr fixed mortgage rate today? We close in 60 days. I can lock in 5.6% today or let it ride?
The 10yr bond was up this morning and is currently down. Are there other indicators I should be looking at? Other interest rate forecast sources?
Thanks for your help!
moreResolved Question: I can pay off my existing mortgage which is 6.5% interest using our home equity line of credit at 4% int.?
The equity loan has a 10 year payoff limit but can normally be extended and our mortgage is for 30 years. I was just thinking how much money we could save in interest if we do it this way but let's face it, interest rates could go up on the equity. It's fixed at 1% below prime.
moreVoting Question: What is the maximum money I can spend on an apartment?
I make $47,000 a year and I am a single guy. I probably have about a 6% mortgage rate and I spend about $100 a month, maybe $200.
more