A strip of wood 78 inches long is to be cut into pieces 3 3/4 inches long. How many pieces can be cut?

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I can put down anywhere from $50,000 to $60,000.

VA is a zero-down program with a high MIP/PMI fee up front as well as a hefty monthly insurance fee. With all the upfront fees, you actually owe 103% or so the day you close on a VA home. The appraisals, therefore, are brutal. The house has to be in tip top shape. If you have 10% to put as a downpayment, going VA is both unecessary and inadvisable. You should be able to get a better deal with a conventional loan, and an 80/10 program can help you avoid PMI altogether if that is important to you. VA is a fantastic program if you are a qualified vet with a valid DD214 and you have no downpayment and are a bit credit challenged. Otherwise, conventional is the way to go with 50-60k in the bank.

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I have been working for a company for about 8 months now. there is a huge demand for what we do. there are only about 3 or 4 businesses in the us that do what we do. the company i work for is deep in credit for poor business choices and can't afford new equipment. they have been in business since the 1960's and we still make everything by hand using the same old equipment. i do 95% to 100% of the work most of the time. i am only able to make 50-100 of our product a day using the old tools and equipment while working my ass off. the company makes over $20000 a month. we have no shortage of work. about 80% of our profits comes from 5% of our customers. i would like to start my own business but am not financially capable. if i could get a $500000 loan i could purchase new equipment and easy be capable of making 1000+ of our product per day. as it is now, the company i work for charges a ridiculous amount of money for our product because of how much work it takes to make them using our ancient tools and methods. if i was able to open my own business and buy new equipment, the cost for the product could be cut in more then half, which would increase business and demand. i have calculated it all up and within the first 5 years i could be pulling in around $1,000,000 annually. i have good credit. lots of experience in the field. not much for collateral, and not much for a down payment. what's my chance of getting a $500,000 loan. sba loan likelihood? i do have collateral but not much. new motorcycle worth $8k-10k. classic truck worth $20k-30k. if i can i could also use the new equipment and business as collateral aswell.

All business loans require collateral including SBA

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Does a mortgage lender allow a loan that is 3 times your annual income? or do they go by other factors as well? if the 3 times your annual income is true, then i hope that i can get a loan when i have only $36,500 saved up. if i cant get a loan with $36,500 saved, then i will save until i have $56,500 to put down on a $105,000 home. im fixing to be 23, and when i turn 25 i will have $56,500 to put down on a $105,000 home. ( i will have $10,000 for emergency money at the time i put $56,500 down) i make 25,000 a year right now. when i'm 25 i will have worked for that company for 5 years. my credit score is a 720 and i know it will be higher when im 25. could i get a conventional loan if i had $36,500 or $56,000? if the low income is a problem i could get a second job. i will rent out 1 or 2 rooms to friends and i have no debts and nothing to pay off. (in tx houses are cheap)

You very well can get a house. You have a good score and a good down. I would talk to a mortgage broker and a Realtor, get the ball rolling while interest rates are still low

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I just read something where a man claimed that his $160,000 mortgage loan at 4.29% interest will cost him over $500,000 when the debt is finally paid off. i believe this was a 30-year loan he was referring to. i feel like a terrible & uninformed consumer, but i never realized i might be paying out a ton of extra money on my own $120,000 30-year mortgage at 5%. the idea that i might end up actually paying out more like a half-million dollars is sickening. does anyone know how i might be able to calculate our actual payment, after all is said and done? or is there an online tool or calculator i might be able to use that would generate a figure? thank you.

The numbers you mentioned do not compute. A $120,000 mortgage at a 5% fixed rate over 30 years will cost you approximately $112,000 over the life of the loan. Your monthly payment will be approximately $645. This does not include property taxes, insurance, maintenance or repairs. At the end of thirty years you will own property that has significantly appreciated in value. It's more likely that you will trade up along the way and maximize your investment even more. If you were to rent property for $645/month for 30 years you will have spent over $232,000 and have nothing to show for it. It's more likely that you would have to spend at least $900/month for a comparable rental to cover the landlord's property expenses over and above his mortgage costs. That's $324,000 thrown down the toilet. On top of that, you can expect numerous rent increases over a span of 30 years. That $324,000 figure is liable to be closer to half a million dollars. There are many on-line mortgage calculators. Just Google "mortgage cost calculator" and plug in your numbers.

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Ok, so we finally get our gfe, and it says that our closing cost will be $8134. isnt that a little too much for a fha loan for a house that is for 231,600? (we are paying $8400 for downpayment) here is some of the major gfe charges shown: origination fee =1% $2316.00 loan discount fee = 1.75% $4053 2 month taxes = 816 appraisal fee $350 and some other minor fees. this does not include our attorney cost, which will be about $500, and we already paid $250 for inspection! that brings the closing cost to over $9000!!! also nothign was stated about the pmi! does this mean that we will have to bring $8400+8143=$16,543.00 to close our loan on our closing date? do we have to get the discount loan fee? can the origination fee be negotiated? what part of this closing cost can we finance, if any! also i noticed that it stated that there might be a "loan pre-payment penalty" if the loan is paid off early... i am so confused! please please please help!

It sounds like your loan officer doesn't know what they are doing or at least they don't know how to structure an FHA loan GFE. The 1.75% discount is exactly what your upfront mortgage insurance premium will be so it sounds like it was listed incorrectly. The rest of the charges are normal. There is never a prepay penalty on an FHA loan unless you pay it off in under 6 months due to ysp recapture so again it may be that your loan officer is not familiar with FHA loans. In any case do you really want to deal with someone who is not experienced when making the largest purchase of your life? You should double check your contract to see if your agent requested seller concessions to cover your closing costs. If not you may want to see if you can renegotiate this so you are only bringing your down payment to close.

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Want to know interest paid on 5 yr. loan for 5,500. asking for options now! the interest rate number and dollars cost with formularies.

Your fico score looks fine. The dealership will love the $8000 down. It's a secured loan. I put $6000 down on mine and I had a credit score lower at the time. I think you'll do fine, just work with the dealership. The interest rate isn't going to matter much... if you want the car loan. Make sure you make your payments on time, raise your score, and you can possibly refinance when your score gets better if you want a better interest rate.

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If you had $500,000 in disposable cash, what would you do, and why? (purely from a financial point of view, putting aside the obvious benefits of being able to do what you like in your own home) conditions: - you will only live here for three years, so you do have to deal with realtor fees, and reselling the place. - $500,000 is the average house price - rent for the kind of home that would cost $500,000 is around $ 2500-3000 a month - you would pay for the house or rent in cash. no mortgages, no loans, etc., so no interest payments. - property taxes would be around $5000 a year for owning such a home - housing prices are historically low, and your home may rsell for an extra $50,000 or so (or the market could remain depressed of course) thanks for your advice! hi budhah, the five year term you quoted is exactly what i've always been told, that it only becomes worth it at that point. but at the same time, like you said, the disposable cash makes the situation different. the 'five year' thing probably assumes that you will have a mortgage/loan that you are paying interest on. in addition, with houses being historically low, the house could be worth it in less than 5 years it seems... calculating realtor fees for purchase/sale, closing costs, property taxes, and maintenance (assuming we're buying a loft for example), would leave us with around $420,000 to take out of it again after 3 years, and the property value may well have gone up in value by 50 to 100 by then, considering the market. renting would cost us $108,000 or so. seems like buying is much better, yet everyone tells me about the whole 5 year thing, that 3 years is just too short... i'll try to remember what people asked and answer it here: location: east bay area, ca (berkeley, oakland, alameda, around there) income: yes, enough to get decent tax deductions, however, i will continue to own my other 500k home in oregon, so i think this second home will have no added tax benefit, but i don't know the specifics of second home taxation. i suppose one could count as an investment property? money: cash is 100% liquid, payable in cash, up front. of course i could earn interest on the money if left untouched, so i suppose that works against the buying a home thing. with average growth of 7%, or 21% over three years, the home would go from 500k to 600k which might make me break even, which would obviously be 100% better than paying $3000 rent a month for three years... ps: not a school project lol, this is my actual situation, or at least it will be this summer, when i'll need to decide. oh yeah, and we're interested in a loft apartment, in a 'downtown' type area with shops and such. modern, maybe new warehouse conversion, that kind of thing.

you forgot the most important thing,,, LOCATION.. Normally I would not recommend anything less than a 5 year stay, but since you have the cash...... Look around a bit first, Might be surprised what you can find. Being as you have the money to pay cash, go for it. Not many have that kind of bucks

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I am starting college this upcoming semester, spring 2011, and i wanted to know how one is to take out a student loan for about $11,000-$12,500. any help, advice, and answer is acceptable. fyi, i began working late in high school so my savings for college is a little under $4,000.

colleges.mywebcommunity.org - it provides some tips about applying to US federal and state grants for college students.

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We have child #3 on the way in about 6 weeks, and need to get a bigger car. wanting something reliable and practical...something that will last a while. we are thinking 2004 or 2005 honda oddysey or toyota sienna. just got a big chunk of $$ from my old job, and want to use $10k down as it would be about 50% of the total cost. we will be using the remainder to pay down/off other debts, but we do not have time to wait unitl the payoffs are reflected in the credit score. do i have hope of getting a decent van at this point? any ideas/'suggestions?

You should have no problem when you're putting down that much money. . .... just make sure its the best use of your funds and that you're setting your family up to become debt free and start saving money.... you may find it would be better to get a 10,000 van (you can find plenty of low mileage options for that) and start saving money every month instead of paying $300 a month for a payment. $300 a month adds up to $3600 in a year!! Think of a typical 5 year auto term, and you could have $18,000 in the bank and be driving a paid-off vehicle.

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The area that i work in, all the houses are too expensive. it's in conneticut/upstate new york and the cheapest homes still cost $500,000 or more with under an acre of land. real estate here is outrageous and is bought up by new york city's rich and famous for weekend homes. currently i rent an apartment in ny in a low-income complex for $550 a month. i figure i can afford a monthly mortgage payment of up to $900-$1000. but in this market, that will not even come close to buying a house with a 30 year mortgage. i love my job and don't want to move and work somewhere "cheaper" just because i am working-poor. sure, i have a roof over my head, but i want to own my own home. government programs? low income loans? they all exsist but wont do me any good if i want to stay and work in this area because a) i can't afford a mortgage on a $500,000 loan and b)the government won't give me and help just to live amongst the rich people in conneticut. anyone know of any other options? i think i have decent credit, my fico score is around 720. between me and my partner (with 1 child) we make around $45,000 a year. the monthly payment i approximated was based on only my income compared with what i pay in rent, car payments, debts and student loans, etc. i didn't factor in my partners income because my income pays all of our combined bills and rent while her income (which is alot less than mine) buys all the groceries and random expenses. and i can not look in other areas or else i would have to find a new job or face a 1 hour + commute for a job that pays $15 an hour. i already live 30 minutes away. the houses i can afford a outside the area where i can still keep my job.

Look in areas that you can afford the housing. You are not going to afford a $500,000 house so don't look in those areas.