Tag: <span>#Loan_Amount</span>

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PLEDGING ASSETS

With the way the stock market is running, many people do not want to liquidate their accounts to make a large down payment on a home. They are conflicted because they want to make a large down payment to get a better interest rate, but do not want to sell the assets in their investment...

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BUYING DOWN RATES

Let’s say you are looking to buy a $350,000 home with 20% down for a loan amount of $280,000. You want a 30-year fixed mortgage, and assume the rate is 4.25%; the principal and interest payment would be $1,377.43. If you paid a point, assume the rate would be 3.875% and the payment is $1,316.66....

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PLEDGED ASSETS TO LENDER

Are you considering buying a home and using liquidated monies from stock investment accounts? You may feel conflicted because you want to make a large down payment to get a better interest rate, but do not want to sell the assets in your investment accounts and pay taxes on any gains. By pledging the assets...

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PRE-PAYMENT LOAN PENALTIES

Some loans may have a pre-payment penalty in the event you pay off the loan early. You probably won’t see these on conventional or government residential loans, but you may see them on other residential loan products and on commercial loans; the penalty is a certain percentage of the loan amount. Example: You borrow $200,000...