Q&A
Asked by Kirt
Answered by Ted Rood PRO+
Mortgage Professional in Maryland Heights, MO
Agreed that some more details would be helpful. If you're talking about making a lump sum payment on a current mortgage, the answer is "depends". Some banks (includi...
Q&A
Asked by Charlene
Answered by David Skow
Mortgage Professional in Seattle , WA
Charlene – thanks for the question … the rocing will depend on a lot of information not on your post…type of property ? loan amount ? value / purchase price? Down pa...
Q&A
Asked by fcs
Answered by Phillip Christenson
CFA in Plymouth, MN
Hi FCS, the official rule is that you have to live in a property for 2 of the last 5 years before a sale. So yes if you move into the property you can avoid capital ga...
Q&A
Asked by Apryl
Answered by Chad Freeman PRO+
Branch Manager in Bethesda, MD
Apryl - That depends on what type of loan it is. If it is an FHA loan that you recently took, the mortgage insurance will be there for the term of the loan. If it ...
Q&A
Asked by Daniel
Answered by Ted Rood PRO+
Mortgage Professional in Maryland Heights, MO
If you're asking about mortgage interest types, Daniel, there's only two: Fixed rates, which stay the same the entire term of the loan, and adjustable rates, which ar...
Q&A
Asked by Steffanie
Answered by Chad Freeman PRO+
Branch Manager in Bethesda, MD
Hi Steffanie - There are many different philosophies out there, but probably the most common is a 30Y fixed rate loan. It truly is the most 'basic' as your question...
Q&A
Asked by Kaila tubbs
Answered by Chad Freeman PRO+
Branch Manager in Bethesda, MD
Kaila - If you are referring to mortgages, it is tied very closely to the performance in the bond market because this is where mortgage backed securities are bough...
Q&A
Asked by an anonymous user
Answered by Ted Rood PRO+
Mortgage Professional in Maryland Heights, MO
The only way to answer this question is by considering many factors you didn't discuss here, things like your employment stability, debt ratios, reserve savings, time ...
Q&A
Asked by tayyaba
Answered by Ted Rood PRO+
Mortgage Professional in Maryland Heights, MO
David is correct that a contingent contract is the most common way of buying a home, using the equity from your prior home for the down payment. While it can be harde...
Q&A
Asked by robin
Answered by Ted Rood PRO+
Mortgage Professional in Maryland Heights, MO
There is no "magic age" where buying a home versus renting suddenly makes sense. The decision depends on your fiscal responsibility, your employment stability, your l...
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