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Mortgage Professor about purchasing new home: | |||||||||||||||||||||||
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 Housewarming Gift Ideas - What is Appropriate? A Guide to Direct Homeowner Loans Moving On: Powerful Tips For Selling Your Home Follow A Few Simple Steps To Make Shopping For Your New Home Loan A Little Easier Conditions Are Right For Buying The Higher Priced Home YouVe Always Wanted Building Wealth When Refinancing Your Home Loan How to Buy a Home When Your in Your Twenties The Most Important Aspect of Flipping Houses - Curb Appeal Mortgage-Refinance Loan Measurment 101 -- Evaluate Your Own Ability to Pay Home Based Businesses At All Time High
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