Sentences with phrase «yr mortgage»

But in those early years, its so tough to make the numbers work that I would have to suggest the 30 yr mortgage in almost any scenario..

Right now you can get a 5 yr mortgage for just under 4 % so the extra ~ 0.8 % is the penalty.

I will never understand why anyone buys a 30 yr mortgage when it means that over 30 yrs you will have paid enough in interest to buy two homes!

How does a 30 yr mortgage translate in term of rate?

The 30 yr mortgage off in about 7 years.

If you have a 30 yr mortgage in the first position and a HELOC in the second position, one can pull an amount out, park their paycheck in the HELOC.

As I interpret this — the «penalty» is that he just got a 5 yr mortgage with a well - above market rate interest rate.

Our ideal price range would be $ 100,000 - 160,000 with a 25 - 30 yr mortgage at 3.5 - 5.4 %.

I just noticed that the 30 - yr mortgage rate at Wells Fargo — 2nd largest mortgage lender — has not changed much in the last few weeks despite the decline in the 10 yr yield.

Thinking about this further, the 30 yr mortgage logic taken to the extreme suggests that the best way to go is to never pay down the mortgage, as long as the after - tax cost of debt is appreciably lower than the potential long - term investment gains.

A few final praises and quibbles: His use of clear examples to illustrate important points is very welcome, but there are a few cases where he could give a fuller explanation (e.g., the 20 - yr mortgage example).

then you will need to calculate taxes on the above - referenced returnsfor the 30 - yr mortgage savings!

My credit approx 680 Sibling has no credit My job w2 for 2 + yrs Mortgage 2x 30 dod in last 12 months My Income $ 68k Any chance this can be approved.

A 15 yr mortgage forces you to get it over with in 15 yrs and save A BUNCH of money.

If you were sitting on a big mound of cash (100k) then I could maybe see going with a 15 yr mortgage if your goal was to pay it off quick and if the thing was cash flowing anyway.

This means the monthly MIP will stay with the mortgage for the entire 30 yr mortgage term.

They claim to offer 3.75 30 yr and 3.0 15 yr mortgages with no money down + no closing costs.

I was 5 years in on the 15 - yr mortgage and running the numbers showed I could pay off the house in 5 years instead of 7 years.

When I joined this site in 2011 all I read about was the «dead cat bounce» that was coming soon and anyone who was buying a home in 2011 was a «knife catcher» and would be stuck with an overpriced home on a 30 yr mortgage.

Yes, the interest rate will be a bit higher than the 15 - yr mortgage, but you're paying for a sort of insurance.

I like the strategy of taking out a 30 - yr mortgage but making payments as if it's a 15 - yr mortgage.

But if you sign up for a 15 - yr mortgage, you'd have to refinance to a longer term to reduce your monthly payment.

With all that said, the only real difference I see in buying vs. renting is that buying requires extra money to actually buy and maintain the home while renting is just a monthly cost (that can be more expensive than a 30 yr mortgage.)

Filed Under: Housing Tagged With: 15 Year Fixed Rate, 15 Year Loan, 15 Year Mortgages, 15 Yr, 15 Yr Mortgage, 30 Year Fixed Rate Loans, 30 Yr Loan, 30 Yr Mortgage, loan, mortgage acceleration, mortgage loan, Mortgage Pay, real estate

In addition, keep your payments the same as though you were still with the higher rate 25 yr mortgage.

But this isn't a regular business, you're paying 1 times revenues for what might be a v long & predictable revenue stream, i.e. fees on a 30 yr mortgage.

At the time of this recording the best rate for a 30 yr mortgage is 5.45 %.

If people can not afford the same home in a 15 yr mortgage, it really means they can't afford the home in the first place, and they're actually overspending.

I have two homes I own, both at 15 yr mortgages.

But when we buy, we are planning to go for 30 yr mortgage and pay it off as if it were 15 yrs.

Their monthly payment on a 15 yr mortgage is $ 1100.

It sounds like 30 yr mortgage was perfect for you.

I am a few months away from paying off my 15 yr mortgage (in 7 years) and the positive psychological impact that this allows is immeasurable.

Plus the tool is setup for a 30 yr mortgage, a 15 year home equity line and a 36 month auto loan.

A zero yr mortgage is the best choice.

I agree that a 15 yr mortgage isn't always the best choice.

Most people won't be disciplined enough to pay extra on a 30 yr mortgage.

If you can't afford a 15 yr mortgage, maybe you should consider a cheaper house, or wait longer and build up a bigger down payment.

Refinanced from a traditional 15 yr mortgage @ 4.5 % in year 4 to a 10 yr simple interest loan @ 3.375 % for 150 dollars two years ago.

Aren't home equity loans at a higher interest rate than a 30 yr mortgage?

We're 8 months into a 30 yr mortgage, and 38 months ahead on principal payments.

Low rates and expert advice: FHA loans, VA loans, 15 / 30 yr mortgages, ARM loans, Jumbo loans.

Get a sweet deal on a house that has awesome cash flow on a 15 yr mortgage.

you need to get into the investor's mentality and understand IF time = money THEN 30 yr mortgage > 15 yr mortgage.

However, I see all over the place here people listing rates of 2.75 % 30 yr mortgages, which I am assuming are the same kind of mortgage I have on my actual home.

I was doing a few calculations and came up as follows... Assumes the following — Purchase price 40k / 15 yr mortgage @ 4.25 with 6k down

You can purchase it in your own name and get conventional financing; put 20 % down to get a 30 yr mortgage.