Increasing downpayment v.s. Prepayment

qspDec 02, 2018

I want to apply for a mortgage loan of $100,000 with $10,000 down-payment. The loan should be paid in 15 years, and the interest rate is 4%. Suppose I can have $20,000...

How is interest rate calculated for a floating mortgage

Yu ZhangDec 02, 2018

I am trying to calculate the amount of interest I need to pay for a mortgage that just turned from fixed to floating. Current balance is: -550,000 Interest rate: 5.95%...

Best Practices for Buying a House?

leeand00Dec 02, 2018

Here’s what I think I know about buying a house: Get a home inspector to check the place out first before you do anything, to avoid ending up in a money pit. I...

Compound Interest & Mortgages

user7448572Dec 02, 2018

Mortgages are compounded 2 times a year in Canada and 12 times a year in the USA. However, I read that mortgages are simple interest and not compound interest because...

How do I divide equity following separation with cohabiting partner?

julie swindellDec 02, 2018

I have been in a cohabiting relationship for 20 years – we are living in a property that we have lived in for 12 years – we bought the property for £95,000...

Double-entry accounting: how to keep track of mortgage installments as expenses?

walkmanyiNov 25, 2018

Context: I am new to double-entry accounting, I use GnuCash for my personal family bookkeeping. At the moment, the main goal for me is to keep track of incomes/expenses...

Is it considered mortgage fraud if you work for your friend who can assign you higher income?

stormfeatherNov 25, 2018

I posted this on another forum and want to get input here as well. Let’s say there’s a boyfriend and a girlfriend who have kids together. Boyfriend is...

If my mortgage were to be foreclosed prior to completion of repayment, would I receive any cash value back for the payments I have made?

SidneyNov 25, 2018

First: This is hypothetical, more of a curiosity than something I need actual help with. Lets say I had a 100k house, and over the past 10 years I’d paid down 50%...

Make 100k, how much mortgage can I get in NYC?

Patoshi パトシNov 25, 2018

I make a little over 100k a year in nyc as a programmer and have 200k saved up. I’m looking to get a mortgage to buy a condo in lower Manhattan sometime in...

Should I buy my house in cash, or with a mortgage and invest the rest of my money?

taxypayer22847Oct 27, 2018

I can afford to buy a house (to live in myself) in cash. Most of my investor friends tell me this would be a dumb idea, because I could earn more in interest by buying...