How is interest rate calculated for a floating mortgage

Yu ZhangOct 22, 2018

I am trying to calculate the amount of interest I need to pay for a mortgage that just turned from fixed to floating. Current balance is: -550,000 Interest rate: 5.95%...

Best Practices for Buying a House?

leeand00Oct 22, 2018

Here’s what I think I know about buying a house: Get a home inspector to check the place out first before you do anything, to avoid ending up in a money pit. I...

Compound Interest & Mortgages

user7448572Oct 22, 2018

Mortgages are compounded 2 times a year in Canada and 12 times a year in the USA. However, I read that mortgages are simple interest and not compound interest because...

Saving for a New Home

ParzivalOct 22, 2018

My wife and I are saving for a new home in NYC. The only debt we have is a student loan (about $26k left at 3%). We have $47k in the bank and our Household Income (HHI)...

New mortgage lender is requiring I buy condo owners insurance

Ellen MOct 22, 2018

I live in California, I have applied to refinance my condo, which I have owned for 30 years. The new lender is requiring that in addition to the HOA (Homeowners’...

Loan & building a house in Germany (Bavaria)

MajaOct 22, 2018

I would like to ask what are conditions when you want to build a house in Germany. Is it necessary to have your own savings before you ask the bank for a loan or you can...

How do I divide equity following separation with cohabiting partner?

julie swindellOct 22, 2018

I have been in a cohabiting relationship for 20 years – we are living in a property that we have lived in for 12 years – we bought the property for £95,000...

Mortgage company using principal payment to make advanced house payments

Dennis HOct 22, 2018

My mortgage payment is 1200.00. I send in the 1200.00 each month along with a additional PRINCIPAL payment of 2000.00 clearly noted on the payment book as intended as a...

Agent Comission rebate when not listed on HUD-1

user1337346Oct 22, 2018

Our mortgage consultant mentioned that the lender did not approve of multiple rebates we received (Seller’s credit, rebate from the Mortgage Consultant). As a...

I have paid $7000 extra of my mortgage in 6 months. Should I transfer this to my $11,000 car loan or is it better of the home loan?

BettyOct 10, 2018

My car loan is 6.49% but it costs $12 a month for every month you pay it off early. It is a 60 month loan, I have been on it for 6 months and have paid off $2500 (From...