ON Canada, Sept 11, 2011 - Current fixed rates are at the lowest and this makes housing more affordable. Variable rates on the other hand is around 2.4% while fixed are at 3.19%. The difference between the two rates is low or $ 39 for 25 years for each 100K of loan . Having the peace of mind of equal payments vs. low and volatile rates, the fixed rate may be a better option at this point in time. It could change next month. Email me at victor_catalan@centum.ca if you need further assistance on this matter.

ON Canada - yes it would be a good exercise to do this especially if you want to get the best deal that you would want on renewal. Some clients want rates, others is pre-payment, others is the locking in to best rates when availing the variable rate mortgage. Email me if you need assistance - victor_catalan@centum.ca

LTV is Loan To Value. The maximum LTV you can do on a Purchase is 95%. On a refinance the max LTV is 85%. James Shinners. Mortgage Managers. www.mortgagemanagers.ca 1-877-996-6677

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My morgage is divided between £95,000 morgage and £25,000 loan. total borrowed is £120,000 over 30 years.my 2 year fixed rate contract is due to end in september 08.

Yes, your remortgage would still be for a total of 120,000 Your loan is what is called a 'second charge' and will always be associated with the mortgage.

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I will loose my mind shortly if we do not kick the people who live with us and just me and hubby take over morgage. the morgage has gone up about 350 in 6 years due to taxes. now we have a 1650 a month morgage. we need to lower it by 400.00 per month to afford it ourselves. thanks so much for taking the time in this crisis.

You and your husband can try to refianance at a lower rate. (don't know who holds the mortgage here) 6 years ago, rates may have been higher.

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I am behind on my morgage by 3 months because of loss of wages. now that i found a new jobs i have less income than before and wont be able to afford my home. please help !

Your mortgage doesn't need to be owned by Fannie Mae or Freddie Mac if your interested in the modification (Fannie and Freddie is necessary for the refi part only). First you have to take a look at your budget to see what kind of deficit you have; after that, identify expenses that you can reduce or eliminate (the idea is to present to the lender a deficit that they can work with). The Obama plan could reduce your payment to 31% of your gross income so you need to calculate that number and show the lender that you can afford that payment along with all the other expenses that you have

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If i bought an apartment for $250,000 and put about $30,000 down. how much (roughly) would my monthly payments be after everything? (lets say a 30 year morgage)

don't know where you live................i live in Australia and the link below is an Australian banks mortgage calculator http://www.stgeorge.com.au/calculators/homeloan/loanrepayjava.asp

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I have a friend who was decline by many banks and privet company for a house morgage. finaly the realtor told his she can get him approved with assume morgage. now really need to know after all that decline, will he be approved at this stage? because i just hard from my co-worker previusly you would need a approval for assume morgage but now you do. please let me know how assume morgage works. thank you.

Actually, there is no such thing as an assumable mortgage. The term once referred to a mortgage that could be transferred to a new buyer. EVERY mortgage written in the last decade has required such a person to qualify as if they were applying for a new mortgage. Because all true assumable mortgages are so old that no one will sell for the mortgage balance, the buyer actually IS applying for an new mortgage.

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I thought that it was better to pay off and cancel all your credit cards before applying for a morgage. i asked a bank employee this question as i may seek a mortgage next year. she told me that it has changed somewhat. now, it is to the buyers advantage to have many credit cards, with long history, and zero balances. i'd just like to position myself to the greatest advantage before seeking a mortgage.

NEVER CLOSE CREDIT CARDS. THIS WILL lower your overall limits..and some credit card companies can PULL YOUR WHOLE HISTORY off the credit report, and that isnt ILLEGAL. most lenders want 3-5 tradelines that have been OPEN for at least 2yrs for standard credit worthiness 5-7 tradelines that have been open for more than 4yrs is supreme credit worthiness

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Hiya. i have been turned down to be put on the morgage. i pay half of it every month. is there any document or way my boyfriend can sign that will mean i have some security and own part of the house?

You can have your name added to the deed. But his lender has a say in the matter and may call the note due, forcing his to refinance with your name on the mortgage as well. They are not very likely to accept this.

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Because im on a relatively low income and my ex (due to my sons) has kept all equaty from the house (until my youngest reaches 18) where is it possible to obtain a morgage for a larger amount than the normal credit brokers would allow. nothing ilegal or loan sharking please.

I went to see a morgage advisor through an estate agent. They are free as they earn commission from any companies their clients go to. They have knowledge of all the different morgage companies and what they offer and know how to deal with them, the right things to say etc.. I managed to buy a flat even though I'm self employed and my earnings vary - there's no way I would've known how to do it otherwise as the morgage companies just laughed at me when I went to them on my own!

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I have a close friend that got scammed by a morgage lender and my friend didn't even know that his loan was going to be a variable rate. they gave him no copies of the docs, and not only that, they lied about his income to qualify him. i feel so bad for my friend and i wish i can help him somehow. the only doc he did see was one that said the loan amount and it had the interest rate on it, but it was dated three days prior to when he signed it, and they told him that it was because if he didn't sign it that he couldn't get that rate. but it also never said that the rate was adjustable. he is very desperate and bummed out. it's been three weeks, and he just told me this last night. please give me some tips. this is for california. thanks in advance.

Was there a notary present when he signed docs ? If a notary signed predated docs, they could lose thier license, and may be liable for fraud. The borrower signed the application that lied about his income, BUT he signed them, so he commited loan fraud. If thats the ONLY doc that he saw, then he doesn't have a loan. It's that simple. I believe that they lied to him, but it sounds like he may be lying to you.

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My morgage company has contacted my neighbor about my being late on my payments because they were not able to contact me.

Not if the Mortgage company was the actual lender and not a collection agent! But - If this Mortgage company is merely a collection agent for some other entity then it would be illegal under the Federal Fair Debt Practice Act of l997 and it could only advise your neighbors that they would like to contact you - without any reference whatever to any debt that you owed! Good Luck!