Q&A: what type of mortgage loan should i get if i only plan on staying there 5-7 years?
Question by curious: what type of mortgage loan should i get if i only plan on staying there 5-7 years? i am a first-time home buyer, looking for advice on what type of mortgage loan i should get. do i need a 30 yr. or would it be better to do an ARM. this is just a starter home and i don’t plan on being there longer than 5-7 years. Best answer: Answer by hgary06ARM it… What do you think? Answer below!
read moreAny advice on how to drop your monthly mortgage payment?
Question by Nikki: Any advice on how to drop your monthly mortgage payment? I have a 1500 square foot home in North Las Vegas. I have lived in it for two years. My monthly payment is 2100.00 a month, fixed for 30 years. Now, things are pretty tight. My husbands work is slow and so is mine, and we are struggling to make the payment. We talked to the mortgage company and they said there was nothing they could do to drop the payment. We even threatened to give it back, and they didn’t seem to care. I don’t think we can refinance...
read moreMortgage pre-approval – advice needed?
Question by Chris: Mortgage pre-approval – advice needed? Hi, I am considering getting pre-approved to buy an apartment in NYC. The place I am looking at requires 20% down and is listed at $ 400,000. Now, I have the down payment, however, that will leave nothing in savings. If I go to get pre-approved, do they only look at my income & credit rating? Or do they also look at how much $ I will have left after buying the house? Thanks. Best answer: Answer by RachelI purchased a home last year and had to drain my savings account for...
read moreQ&A: How do I refinance on 30yr mortgage with PMI,without touching the equity and me paying from my pocket?
Question by Abinobi: How do I refinance on 30yr mortgage with PMI,without touching the equity and me paying from my pocket? And is’t a good advice to refinance with my mortgage company (CountryWide Home And Loans) or shop around other Loan companies Best answer: Answer by doinouShop around. You will probably get the best deal from you existing lender, assuming you are a good customer. Give your answer to this question below!
read moreI want to buy and live in a multiunit building- Is there a special mortgage I need?
Question by TheHopper: I want to buy and live in a multiunit building- Is there a special mortgage I need? I want to buy a 3 unit building and live in one unit while renting the other 2. Do I need a special mortgage? Will rates be higher? Any advice? Thanks! Best answer: Answer by EmmsNope. We bought a 3 fam unit 4 years ago with a standard mortgage (Actually we were able to use a first time home-buyers mortgage), and our rate is good (5.25%). If you’re owner-occupy (which you are looking to be), a regular mortgage is fine. Good luck. ...
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