What would be a rough estimate of a 15 year mortgage, variable rate on $260,000?
552598
not enough information.  ARM'S(adjustable rate mortgages) are not a good idea esp now that rates are rising.  Your best bet is to with a fixed rate while rates are still low.  It depends on the interest rate, how much taxes your area charges, and how much your insurance will cost.  How much you can legally stow away in escrow for those taxes & insurance but typically a 260,ooo 15 yr loan @ 6% interest would run you in the range of 2000-2500 without taking into consideration wether or not you are willing to pay points up front to reduce your interest rate, and how much taxes & insurance is going to cost you.  your interest rate will vary with arms, meaning your payments will increase over time.
996091
Hi I work for a mortgage bank people with good credit  700 and above going full doc (W2 etc.)  0 x30 ( no lates) on your mortgage  no bk  good clean credit you are in the range of 6.75 with no PMI or MI even over 80 ltv this is a 30 fixed mortgage with no buy downs (read GMAC & quicken fine print) If you have any other questions please email at johng@oldmerchants.com
4877
$2,187.91\n\nI would look for a better rate of return if I were you:-)
751344
This is an open ended question and can not be answered. Rates varied from 8 - 10% depending on multiple factors.\n\nI write a blog on the subject of credit management, mortgages, real estate trends, etc. Check it out for more information that may be helpful.
1061474
save your money your not going to get buy without hiring a private eye to find out the info im sure your looking for! some halve reasonable rates! good luck!
339953
Call a random mortgage company and ask them this question.
763081
Hey Jennifer,\nIt sounds like you should definitely get out of that mortgage, 11.2% is awfully high. However, what is the reason that you had to take an 11.2% loan with a prepayment penalty? It sounds like a sub-prime loan product that you are currently in. Did you have a recent bankruptcy, foreclosure, etc? Is the credit bruised? Why are you in that situation?\n\nAs far as whether or not it makes sense, this is what I recommend:\n\nGo to a few different mortgage lenders. Have them pull your credit and pre-qualify you. Figure out what kind of loan program and interest rate you can get, then do the math from there. Take into consideration how much you will have to pay to get out from underneath this loan, add to that number the amount that your prepayment penalty is (they're usually one percent of the original loan amount). Then, divide how much you will save by refinancing now into the cost to do the loan. That will give you a break-even period in months. That should give you an idea whether or not it makes sense. For instance, if your prepayment penalty is $1,500, the cost to refinance is $2,000 but your monthly savings by refinancing are $100, then you will break-even on your cost to refinance in approximately 35 months. That's almost 3 years... Will you be in that house for more than 3 years? If so, then it might make sense.\n\nHopefully this helps... Good luck!
467046
Not a problem:\nhttp://www.mortgage-calc.com/\n\nQuick, easy calculator
1064299
I agree with Realestatelawyer on this one.  There would be a clause in your mortgage that would not allow it to go any higher than 9.875%.  As far ARMS being dangerous????  That is just not true.  They are only dangerous for the dumb witted person that has no idea what they have gotten themselves into.  Use them right and they will be your best friends.\n\nI would ride out the 5.875%.  Maybe add some extra payments onto the mortgage this year as well.  I doubt that rates with be anything like they were in the next two years, but we never know what could happen.\n\nGood luck with that.  If you still are considering refinancing, feel free to contact me and I could help you out with that.  You can contact me at timothy.kazee@americanhm .com.  Have a great night!
688422
depends on where you live. Ours are now at about 6.25% on a 30 year fixed conforming loan.
456227
go to www.bankrate.com.
148202
1- You are looking at a rate of 6.25% in IL. I ran it through Provident Funding as a 30yr fixed, full doc, 80% LTV/CLTV, second home, $288,000 loan amount, with a 21 day lock period. This assumes all the information you supplied is accurate, and that your DTI (debt to income) does not go above 50%.\n\nThat is a rate that the mortgage company would be ok with selling you. If you are being quoted higher than that, then feel free to talk to me and I will let you know if you are getting a fair deal or not.\n\n2- Your Mortgage company can usually get you at least as good of rates as your local bank, unles you typically carry a very high ballance with them. You would be surprised ... you Mortgage Company is propbably signed up with your bank to do loan through their wholesale side, as opposed to your retail rates they would offer you direct.\n\n3- When a good time to go through with it is completely up to you. If you are in a situation where you can offord it, and are comfortable with it, then do it now. No one can make that decision but you.
321574
Okay...\n\nYou've made $8250 from the first 100k, that's established.\n\nThat means you've made another $7000, at a rate of 5%.  (Add $140,000).\n\nSo you've got a total price of $240,000 for the property.
318460
5.375% - 15-year mortgage - refinanced 3 years ago.
1117821
Excellent question. Hopefully it is a 15 year fixed.  That being said, your mortgage on a 15 year note is comprised of P.I.T.I. if you did not put up 20%. If you did, then it is only P. (principal) and I. (interest). When you pay extra towards the principal, the interest is lowered. TO get a calculator for this, go to Dave Ramsey's website. See below. GO through Financial Peace University while you are at it.
66930
Yes there is but I can't remember it off hand.\n\nThe best place to go and be able to calculate it out is morgage websites.  They have all kinds of mortage calculation tools to use.  \n\njust go to yahoo search and put in "mortgage calulator" and it should bring up a few that are good.
658369
There are some really good answers here.\n\nAs a former mortgage loan officer I would add to shop for your mortgage.  Your Buyers Agent will probably have their favorite lender but don't let them bully you on this.  \n\nPull your own credit bureau reports from all three national bureaus, (Experian, TransUnion, & Equifax) before you start the process and be sure that everything is reported as it should be.\n\nTake the credit reports with you when you visit different mortgage brokers or banks.  Don't let them pull new ones until they have Pre-qualified you (using yours) and you are ready to proceed with them as your lender.\n\nUnderstand that there is REALLY no such thing as a no closing cost mortgage.  The question is how you pay them.\n1. The lender can pay them but they do so out of what is called Yield Spread Premium--this is extra money their money source pays them for delivering your loan at a higher interest rate.\n2. You can pay them out of your pocket, mostly at the closing table.\n3. They can in some cases be rolled into the loan--this particularly applies in refinances.\n\nThe best choice for you depends on how long you plan to be in the home--or at least in that loan.\n\nThe way rates are trending now do NOT even think about any type of adjustable rate mortgage--you will live to regret it if you get one now.  TELL them Fixed Rate or nothing!!!  If rates improve enough in the future you can always refinance.  But with a fixed rate the only thing that can change is your property taxes and/or your home-owners insurance.  Your Principal and Interest payments will stay the same.  \n\nIf you can afford to do so get a 15 year fixed rate mortgage rather than a 30 year (by far the most common.)  Have the mortgage guys show you both and then play with the calculator.  The long term savings are enormous.  Just don't over extend to get it.  \n\nBe smart and buy below your limit.  I you don't live below your means you will never prepare for retirement.