Sentences with phrase «original purchase price of your home»

If you purchased the home less than 12 months ago, you must use the original purchase price of the home as the basis of your new loan amount.

While mortgage insurance does increase your mortgage payment each month, it does so only until your mortgage balance reaches 78 % of the original purchase price of your home.

An FHA Streamline refinance's biggest benefit is it allows the homeowner to use the original purchase price of their home as its current value regardless of what its re-appraised value would be.

Products that protect only the original purchase price of your home are actually disincentivizing homeowners to make home improvements, which severely hinders the overall rebound of the real estate market and, therefore, our economy at large.

These homes can also save a new buyer thousands of dollars versus the original purchase price of the home.

Not exact matches

It's also a good choice if you plan on staying in your home for the long term, since you can have the premiums removed once you pay off about 20 % of your original purchase price.

You can do a cash - out refinance if you've occupied your home for less than that, but you will be limited to the lesser of the original purchase price or current appraised value.

Under the Homeowner's Protection Act (HPA) of 1998, you can request PMI be removed from your mortgage when the balance on your loan reaches 80 % or less of the home's original purchase price or appraised value at the time of purchase (whichever is less).

(Even though the majority of homes have declined in value over the past several years, your home may have risen in value when compared to its original purchase price.)

It's also a good choice if you plan on staying in your home for the long term, since you can have the premiums removed once you pay off about 20 % of your original purchase price.

That way, when your beneficiary sells your home, they are taxed based on how much it has appreciated from the value at the date of death, rather than your original purchase price.

You can do a cash - out refinance if you've occupied your home for less than that, but you will be limited to the lesser of the original purchase price or current appraised value.

Your mileage will vary, of course, but you only need to beat your original purchase price by 7 % or so to put yourself in the black — and home values are up more than 30 % over the past year.

This may be a good option for homeowners who are underwater on their mortgages because the loan will be based on the original purchase price regardless of what the home is actually worth when the homeowner refinances.

According to The New York Times, in March 1967, the Studio School was able to make a down payment of $ 250,000 (one - third purchase price) for a new home at it's current location in the original home of the Whitney Museum of American Art on 8th Street (which was formerly the sculpture studio of Gertude Vanderbilt Whitney).

For the purchase and subsequent sale of a home, the basis generally refers to the original sale price plus any capital improvements and costs of closing.

Part of the sales pitch most realtors will use when trying to sell a client on Home Partners is that they have the option to purchase the house they are renting for 5 % above what Home Partners pays for it... But, by the time you account for their above market rents, a sizable initial repair budget (that the tenant / buyer has no control over what Home Partners decides to spend), maintenance and repairs while renting (yes, the tenant will have normal repairs and maintenance costs during their lease added to their purchase price), closing costs, and the company's 5 % fee - you should expect a right to purchase price that is more like 10 - 15 % higher than the original purchase price.

Insurance - oriented products base their payout on the index going down AND your values going down below the original purchase price — with no credit for any of the improvements or updates you have made to your home over the time you lived there.

FHA Streamline Refinances are the fastest and most simple way for a homeowner with an FHA - insured home loan to refinance their existing mortgage because the FHA allows the home's original purchase price to be used as the current value of the home rather than requiring an appraisal.

HomeReady ™ is a conventional mortgage loan via Fannie Mae, which means that you are required to pay private mortgage insurance until your home's loan - to - value (LTV) reaches 80 % of the original purchase price, or 80 % of the home's market value.

The typical seller, who purchased a home nine years earlier, realized a median equity gain of $ 25,000, a 13 percent increase over the original purchase price, while sellers who were in their homes for 11 to 15 years saw a median gain of $ 52,000, or 28 percent.