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| Mortgage Professor about purchasing new home: | |||||||||||||||||||||||
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Consolidating Debt With a New Purchase Mortgage
November 22, 2004 Some home buyers try to kill two birds with one stone by consolidating their debts in the new purchase mortgage. Usually this is not a good idea, as in the case illustrated below. "I have $30,000 in cash for a down payment on the $300,000 house ... more... Borrow From the Builder's Lender? November 6, 2000 "The broker at the builder?s office where I am purchasing a home told me that I had to take my loan from her. Can this be true?" No. While the builder can require that you be qualified by his preferred lender, you are free to borrow from ... more... |
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purchasing new home related definitions |
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Home Equity Loan
Home Equity Loan A home equity loan is borrowing against the equity you have acquired in your home. Lets suppose your original mortgage was $175,000.00, but your house is worth $225,000.00. The difference is $50,000.00. ... more... Second Home, Vacation Home Second Home Second home is a seasonally occupied property that is not the primary residence of the owner. Such residences are usually found in areas with substantial opportunities for recreation or tourist activity. Second Home As Investment However, when market is ... more... |
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More about purchasing new home Remortgages Guide Bad Credit Mortgage - Got Bad Credit? Get 100% Financing! First Time Home Buyer Loans - Home Buying Advice for First Timers Investment Real Estate Secret: Buy a House Today, With No Money Down Credit Card Debt Reduction - Help With Getting Out of Your Financial Binds How to Plan Your Wedding and Honeymoon Buying a House or a Home? Financing Houses Business Failure, The 8 Traps Causing Failure And The One Attribute Which Ensures Business Survival 10 Easy but Essential Steps for Home Selling Success
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