when is my first mortgage payment due process of buying a condo Buying a Condo in Thailand: A Step by Step Guide – Overview. I did a lot of research online before buying a condo, and there seemed to be a constant negative attitude from many people towards buying.
Mortgage rule of thumb – The White Coat Investor – Investing. – The rule of thumb is your total debt should not be more than 3x income. Thus, if you make $500k then your total debt should not be more than $1.5M. The other number lenders look at is your debt to income ratio which should be below 40%.
An upfront fee paid to the lender in exchange for a lower interest rate. One point is typically equal to one percent of your loan amount. Prepaid interest. If you close on your loan in the middle of the month, your lender will collect interest on your loan from the closing date until the end of the month.
What is a mortgage broker? A mortgage broker is a professional who compares and helps you apply for home loans on your behalf. A good mortgage broker will give you personalised service all the way.
Should I Refinance My Mortgage? — The Motley Fool – One rule of thumb is that refinancing can be worth it if there’s a difference of at least one percentage point between your current mortgage rate and the new rate you can get. As an example, the national average interest rate for a 30-year fixed-rate mortgage was recently 4.2% (up from 3.66% a year earlier).
Should I Refinance My Mortgage? The Rule of Thumb to Follow – To make refinancing your mortgage worth your while, there is a very specific rule of thumb that you need to follow. If you can’t lower your interest rate by at least this perfect number, you should plan to stay with your current monthly payment as it doesn’t make sense to refinance.
Mortgage Rule of Thumb The most important factor that lenders use as a rule of thumb for how much you can borrow is your debt-to-income ratio, which determines how much of your income is needed to pay your debt obligations, such as your mortgage, your credit card payments, and your student loans.
The second rule is that your piti (mortgage principal, mortgage interest, property taxes and homeowner’s insurance) should be about one-fourth of your total living expenses.
where to get a home equity loan Personal Loan vs. Home Equity Loan: Which Is Better? – Loans, especially personal and home equity loans, can be a good way to pay for a major home project or handle a financial emergency. But before you apply for either type of loan – or an alternative, such as a home equity line of credit – do some research and decide which option best suits your needs.
Mortgage Q&A: "When to refinance a home mortgage." With mortgage rates at or near record lows, you may be wondering if now is a good time to refinance.Heck, your neighbors just did and now they’re bragging about their shiny new low rate.