sure she can! if she is RESPONSIBLE, secure financially, and doesn`t have bad spending habits!

Powered by

The rules state when you unmortgage a property you must pay the mortgage value plus 10% to the bank. if the mortgage value is lets say 75.00 the intrests costs 7.50. the total comes to 82.50. do you round up or down?

Its a math rule that when the decimal is over .5, you round up, and if its .49 or less, you round down.

Powered by

Who on earth can really afford that? i'm constantly amazed as a real estate agent that kids in their 20's are prepared to take out half million dollar mortgages & can actually afford it! what do these kids earn???

cos theyre greedy and want everything RIGHT NOW! they want to live where they want RIGHT NOW , theyre not prepared to live in the burbs to save up, they want the inner-city penthouse and plasma now, wateva it takes, even if it means not having kids to save money...

Powered by

Yeah, so i'm living with my nephew and the mortgage is supposely $1800 dollars, and i have to pay half which is $900. but i just wanna know why the hell it cost so damn much? for your information, "knowitall" you're the damn idiot, so you need to shut your pathetic little mouth, alright. and no, the house is not huge, and the bedrooms are very tiny. but i am guessing that it might be because the other person can't afford to pay half, so he's telling us it's half.

You did not say how much the mortage was for or the period of time. The mortgage depends on both of those and of course the interest rate. Then there is the escrow for insurance and taxes which is probably incorporated into that amount. And here is the be question. Did you buy a house in California? Can't get much for less than about 2 million there.

Powered by

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.

Powered by

Ok i think spending $10,000 a year is what is going to make a relationship survive and be happy. (i'm talking about a real relationship that leads to a long lasting or permanent marriage till death) think about it your going to spend at least $300 on christmas birthday and valentines day thats a total of 900$ but lets just round up to $1000 going out with your lover on dates every weekend so lets just say you go out once a week on a date,hmmm dinner and a movie? 1 ticket costs $10 gas 5 bucks and dinner 15 bucks so thats a total of 30 dollars for one date (this is just paying for my self, my lover has to pay for her own ticket and meal) so lets be real here, this is actually whats considered a really cheap date, so 30 dollars times 4 (4 weeks in a month) is $120 a month times 12 months thats about $1,500 dollars going out once a week for the whole year (imagine going out twice a week, many people do this and expect this) so that is going to double to $3000 a year plus the gifts for 3 holidays total is $4000...but honestly? is this all there is to a relationship? it seems kind of boring dont you think? omg! i know ..how about traveling and vacation? yes now we're talking going to spend time traveling and vacation to another country 1 ticket = $1000..assuming we are going to spend 1 month there..it is going to cost me about $4000...( or more) to be able to enjoy my vacation....so the total adds up to 10,000...(if i were to go on more expensive dates or more expensive gifts) i think it would cost me about 15,000 a year...ok im 17 years old ...but im completely aware of how much everything costs in the real world..it even costs to have friends...but i truly believe 15,000 a year on a relationship (max by the way) is going to make the relationship survive (now...this 15,000 is what only im spending my partner has to spend her half too ..so total cost is 30,000 since we are both paying) i will go to college and become a teacher and teachers make about 50,000 a year ...so i think i can afford it ill have 35,000 and so will she to worry about mortgage, car payment and stuff like that but 35,000 left (including her self which is a total of 70,000 per year? i dont think i should worry about mortgage and stuff like that....but i was your opinion...is 10,000-15,000 sound like the right amount to spend on a long lasting permanent relationship? *note i will be making 50,000 and so will my partner ...but is it still too much???

If you do not have a relationship, will you sit home and not spend the money? Maybe some of the time, but you will probably be spending the money on entertainment, going to sports events with your buddies, getting a lot of take out meals, etc. You'll buy a more expensive car because you want to make a good impression when you are out looking for a casual acquaintance, etc. If you and your wife are each making 50k a year, as long as you don't live in NYC or some other pricey location, you'll be fine. Just don't buy a house that costs more than 3 times your gross income. If you can do it for 2 or 2.5 that is even better

Powered by

My fiancee and i are both going to be 20 soon. he will be finished with school this year and his current job wants to start him out at about 55,000 a year with fantastic benefits. i will be finished with school in may of 2008. i have had my job for about 3 years, and when i finish school i will only be making about 30,000 dollars (child care field) we are planning to move out of my moms house around the year 2009, so that he has about a year and a half to work, and so that i can get started in my career and save some money as well. he has a theory that sounds pretty smart. he says he does not want to rent a place, ever. in connecticut, the cost of rent(to rent somewhere half way decent)is about the same as a mortgage payment. between the two of us, we are planning to save about 80,000 dollars for a downpayment on a small condo/appartment. any tips/suggestions/comments? if you have seen this question twice, its because i posted it in the wrong category before. also, when i say "school" i mean college. he is going for his a&p in airplane mechanics and i am going for my associates in early childhood education (when the time is right, i do intend on going back for my masters ....there are certian situations preventing it from happening right now)

That's a wonderful idea! But I caution you to not just go to the bank that you have your checking account with to get a loan, you need to shop for your best interest rate. Mortgage BROKERS are your best best because unlike a bank they have many lenders they deal with and because of this can almost always have a better rate than a stand alone financial institution. A few tips as well. When you buy your first home make sure you pick one that will maximize your return when you resell it. Starter homes are an important part of the market and getting one that has as many desirable features will help you when you go to move up to your next one. You will be well ahead of the curve if you come out of the gates and buy a home. Ever wonder how those with a modest income end up with great homes later in life? They build the equity when they are young and roll it into a new purchase. Good luck!

Powered by

My fiancee and i are both going to be 20 soon. he will be finished with school this year and his current job wants to start him out at about 55,000 a year with fantastic benefits. i will be finished with school in may of 2008. i have had my job for about 3 years, and when i finish school i will only be making about 30,000 dollars (child care field) we are planning to move out of my moms house around the year 2009, so that he has about a year and a half to work, and so that i can get started in my career and save some money as well. he has a theory that sounds pretty smart. he says he does not want to rent a place, ever. in connecticut, the cost of rent(to rent somewhere half way decent)is about the same as a mortgage payment. between the two of us, we are planning to save about 80,000 dollars for a downpayment on a small condo/appartment. i dont know much about this, it sounds like a smart idea.... any tips/suggestions/comments? i should add, when i say school i mean college.... he has his a&p in airplane mechanics and i'm going for my associates in early childhood...when the time is right i want to go back for my master's in elementary education. (ceritan situations are preventing that from happening right now. work, money issues, workload, stress levels!!!!!)

Rent is wasted money.Your boyfriend is right.definitely buy your home as soon as you are in a position to do so. If not over the short term then certainly over time it will appreciate in value and you will make a capital gain-likely as not tax free if you are living in the house or hold it over a period of time. Also you may qualify for tax relief on your mortgage repayments. Do it.

Powered by

Hey there guys. i'm tinkering with the idea of buying a house. i don't make a ton of money, but i have a very secure full time job. i've kind of put off buying a place since i thought my last relationship of 5 yrs would evolve into buying a place together but it didn't work out, and as a result of my newfound love for the lack of drama in my life, i'll be staying single for quite a while. as a result, biting off a mortgage on my own is quite a bit to consider. i'm working on a budget scheme now to see what i could afford (if anything) and taking all bills into effect. as a result, i'm trying to determine if i can swing this on my own or if i need to get a 2nd job to make ends meet. i have a good line of credit, with having had several credit cards (all are paid off except 1) throughout my college years and have also had a car loan that i paid off a year and a half early - all in good standing and never been late on a payment. i've gone through some "mortgage calculators" i found on google to give me an estimate of what banks would rate me at for a mortgage. i've never owned a home or lived in an apartment, so i'm just trying to be as smart as possible and get as much knowledge as possible prior to going into a bank to break down the details. if i were to get a mortgage @ (throwing a number out there) 500 dollars a month, after taxes and whatever else that goes into the mortgage/owning a home, what would i expect to pay when it's all said and done? i know there's additional charges for tv or internet or whatever else i want, but i'm talking strictly from the "mortgage" itself and the taxes or additional costs associated with it, what would a 500 dollar mortgage end up at? thanks for any insight and additional information you might be able to provide.

I given you an address of a calculator to play with, below. If you borrowed $95,000 @ 5% for 30 years, you will pay $507 a month plus insurance and taxes. At the end of 30 long years, you will have paid $182, 521 total, $87,520 just in interest. But you must have 20% down in most cases today. That is just $5000 in this case, so you would buy a $100k home.