Could you tell me how accelerted mortgages work?
441531
I think what you mean is: how do you accelerate the payments on an existing mortgage?  Basically, you just make extra payments.  If you make one extra payment per year, you can end up paying off a 30-year mortgage in significantly less time (say 5-7 years less).  The reason is that anything you pay in excess of your monthly payment is applied solely to the principal of the loan.  There are various ways to set up accelarated payment schedules for yourself.  One way is to simply double your payment one month per year.  Another is to divide your monthly mortgage amount in half and pay that amount every two weeks.  This will result in roughly one extra monthly payment per year.  Or, just increase each monthly payment by 1/12th.  Whatever works for your budget.\n\nYahoo has a calculator that shows you how much you will save and how much you will reduce the length of your mortgage by making extra payments: http://partners.leadfusion.com/tools/yahoo_loan/home16/tool.fcs
1127464
I may be able to assist you, I am a mortgage broker who works with over 100 lenders nationwide and offer several programs that will fit almost any situation.I specialize in Re-Fi's, Purchases,  Home Equity Lines and Home Owners Insurance. Please feel free to contact me Jcorreahq@yahoo.com I will go through everything with you and answer any questions you may have about the process. This is at no obligation to you and if nothing else will educate you on how everything works and what you qualify for exactly! I look forward to hearing from you! ~Joseph Correa Licensed Mortgage Broker
754954
you only have so many days after you sign the app to do the mortgage with the locked in rates\nif you were in that timeframe I don't see how they could put the rate up
1172880
You will not have to pay mortgage insurance if you break the loan up into an 80/20 piggy back loan. There are many ways to finance investment properties to 100% even with stated income.  However you will have to have good credit scores and cash reserves of between 4-6 months (depending on the lender).
308494
Depends on what your goals are for the property in question. Are you looking to hold onto the property for an extended amount of time or looking to flip in 12 months? Are you looking for cash flow control, or do you want to know what your payments will be every month? How much are you willing to place down for the new property? \n\nMost lenders will require you to place down a minimum of 10% towards the property, meaning that you would receive an 80/10/10 loan. Your interest rate because of the fact that it's an investment property will vary from lender to lender, however it will be higher than an O/O property. Your second will be the killer for interest rate. Because your interest rate for the second will be outrageous, you might want to entertain the idea of MI, it might be less than the fully amortized amount of a second loan.\nAgain, depending on your time frame that you want to hold onto the property will determine the program that you enter. If you’re only looking to keep the property for 2 years, then there is no reason for a 30yr fixed program. However if you plan on holding it for 30yrs you might want to entertain an ARM to reduce your monthly obligations.\nThe Pay option ARM is very popular with investors since it allows them to control the cash flow of the payments. However it is a one month adjustable and they normally want a larger down payment. You would have to calculate your cash on cash return to determine if this is an option since you'll be placing down about 25% of the purchase amount. There is a formula you can use to determine cash flow /deferred interest and appreciation to determine how effective the program will be for you. Again, it really depends on a lot of factors as the investor that you need to decide and then find a vehicle that will assist you in reaching it. If you have any other questions, you can contact me directly.
421325
This is a little known mortgage option, cause there's unknowns.  The index that the interest rate is following is hard to look up.  I would not take this mortgage.  A fixed 15 or 30 year is better.  If you need to take on an adjustible, try a hybrid 5/1 interest only.\n\nhttp://www.bankrate.com/brm/news/Drdon/20050916a1.asp
686300
the fish don't have to walk. \nIt depends upon several factors one your credit got to have good credit. \nsecond condition on investment property it's kinda hard \nif it's a primary residence it a piece of cake. \nin your offer to purchase as for say 4,000/ or estimated closing costs to be paid by the seller if they don't want it to come out of there pocket wrap it into the purchase price.  \nget two loans an 80/20 \nI do this all the time for my clients, most of the time they leave to closing table with a couple hundred in there pocket
742217
Talk to a mortgage advisor at any estate agents. They scan a computer with over 33,000 mortgages on it to find the best one for you. Northern Rock do a 100% they told me.\n\nGood luck, be sure you know what you're doing!
587371
My friend, there are a lot of issues in your question...I will attempt to brief you given your information.\n\n- You only pay capital gains tax on investment property or one that you earn income from.\n- You never lived on it but you owned it.  One assumes you therefore did not elect it to be your 'principal' place of residence.  \n- You held it more than 12 mths so you are entitled to 50% discount on capital gain (equity growth)\n- Capital gains can only be offset by capital losses....Your cost base seems to be more than cap gain. if so you wont therefore pay any tax on that gain (all be wiped off) However the excess losses accumulated cannot diminish or offset your over assessable income from other sources in yr tax return....Those losses are held and carried forward until you have any future Cap Gains.  then those losses will be used up.\n- Interest paid on ANY INCOME EARNING ASSET, OR INVESTMENT MECHANISM, ie Property, Boat, Vehicle, Business etc  are ALL DEDUCTIBLE....But only the investment and earning part. So you have to apportion the INTEREST that is BUSINESS related.  Ie...You get a loan for a whole house...You rent out a bedroom...You only claim for interest apportioned on a reasonalble basis related to the bedroom, some gas and electricity, maybe kitch etc etc..Usually done on floor space.\n- Must also realised interest is also claimed on an investment  property that was 'available' for rent but remained vacant.  ie even if someone didnt live there or no tenant, the interest is still deductible..But there are conditions.\n-Family TAX assistance (I think you mean Family Tax Benefit A and B??).  Anyway, the benefits depend on the following ATI or Adjusted taxable income.  That is:\n\nTaxable income (incl after Capital Gains & Losses been worked out) plus fringe benefit amounts on tax return  plus  tax free pensions or benefits PLUS losses from Rental property income...ie Net rent loss.\n in other words Net Rent  wont affect you. but say yr property was rented out and you made a loss, You have to add that loss back to your Taxable income to arrive at the TOTAL ATI used to assess your entitlement to Family Tax Benefit A and/or B.\nHope this helps.\nLater.
1020632
false\nyou pay interest big time with a mortgage because it's over a long period of time
1035538
My friend did, and after 3 months, she made a sale (mortgage) and the company only gave her 30% on the loan she sold.  It was redic.  She wouldn't do it again.
84661
and here is another....you can do prepayment savings analysis on this one too!!  Enjoy\n\nhttp://www.jeacle.ie/mortgage/
556857
so you have your own mortgage company?  I can probably help you steamline your process email me at taustin288@gmail.com and we can probably work out something
804209
Yep, cash in hand.  Older mortgages with lower balances are often bundled together and sold as a lot, for a discounted amount.  Especially if financed at a low interest rate.\n\nMany, many new loans are sold immediately after the financing takes place.
1161148
you contact your plans administrator and it should be fairly easy. it's usually limited to a certain percentage of your account balance or your annual contribution.  you will have to pay yourself interest on the the loan.  you should have received this info when you opened your account.
512427
If it was your primary residence for a couple of years, you get the first 250k profit (500k if married) for free on capital gains.  With mortgages, you can only deduct interest payments, and rolling over your property to something of higher value only works for properties that you don't live in personally.
217256
need more information to answer your question, I am a mortgage broker, just e-mail me with more specific information and I will try to help you with you question