Mortgage best buy

Questions and Answers

Best Buy to let mortgage deals?

Q) Anyone know what the best websites are for buy to let mortgage deals?

A) www.moneysavingexpert.com

what is the best UK Buy to Let mortgage on the market?

Q) I need to remortgage onto a buy to let, but am struggling to find a good one... any help is appreciated!

A) Try the moneycentre, I use them for all my UK ones and they are pretty good. They have had some good deals recently

what is the best Mortgage loan to buy a house in USA?

Q) if you can afford to pay 1500$-2000$ a month jason u are 2nd person telling me that .i heard the same from wellfargo loan officer. what is 100% financing? they told me i am approved for it

A) Alex gave you a HORRIBLE answer. A pay option ARM gives you four payment options. The first is a minimum payment, the second an interest only payment, the third a payment that will pay the loan off in 30 years and the fourth a payment that will pay the loan off in 15 years. In a low, or declining rate environment one can make a case for such a loan. However, in our current market the actual rate on these loans is often higher than a plain jane 30 year fixed rate loan!. Paying the minimum payment (option 1) results in you owing more than you originally borrowed. Options 2,3, or 4 are all calcualted at the "fully indexed rate" which, as I stated earlier, is or may soon be higher than a regular fixed rate loan. Do your homework Alex!

What is the best type of mortgage for my buy-to-let property?

A) For the sake of your cash flow go for the lowest possible monthly payment. You can always pay more, but if you have a vacancy you might need the extra wiggle room made possible by a lower minimum payment. A fixed rate would be better than an adjustable for this just because it makes you annual planning easier. I used to own a couple of apartment buildings and know that being able to fix as many or your payments as possible can make life easier in a crunch.

Will I be best off with a offset mortgage if i buy a 100k house and have 30k savings?

A) what interest does the £30k attratc and what interest are you paying on the mortgage? Work that out and you will realise that you should use the £30k to reduce the mortgage debt .

which bank offers the best buy-to-let mortgage deal?

Q) I only can pay up to 10% deposit.

A) Most of them require a 15% deposit as far as I am aware. If you check with an independent broker he will find you the best deal for your individual circumstances.

What is the best UK bank to get a buy-to-let mortgage from and why?

A) no idea but if u want to compare mortgages then moneysupermarket.com is good as would a mortgage advisor in say an estate agents. can compare everything out on the market.

What is the best current buy to let fixed rate mortgage at the moment?

Q) Looking to purchase a small property in the region of £100,000 and have 10% deposit avialable. I am looking for interest repayment only over a 20 year period.

A) If you check out moneyfacts.co.uk you can enter what you are looking for and it will give you tables of top 5, and you can change to be best rate, true cost, no fees etc, so you can look for exactly what you want. It should also tell you what LTV (loan to value amount) that each company will allow - ie what deposit you would need.

Anyone know who's offering the best rates on a buy to let interest only mortgage?

A) Sorry, I don't keep up with the rates...but - there are very few occasions where an interest only loan is the right move. If an interest only loan is the only way to afford the payment, then the price is beyond your means. Look for a less expensive property.

Buy-to-let mortgage?

Q) Someone said i needed a commercial mortgage to buy a block of flats which i plan to rent out, but i was sure i needed a buy to let?! Are they the same thing, or is one of us wrong?! Furthermore, in what way and how much more expensive are Buy to let mortgages than normal mortgages? PS i'm thinking of a repayment mortgage here

A) I am not sure I would ring up a building society that you like the look of and trust and doesn't have high rates.

If I buy mortgage leads which is the best company to buy from and why?

Q) I've bought them before and the said if I pay 40.00 they'll give me a lead that they only give to 1other person. I found out that, that doesn't mean that is the only website the people have commited too and most of the time people were going between 3or 4 company.

A) I own my own telemarketing company and can get you real quality appointement leads. I know its hard for you to trust someone now, but i would say give us a try with few leads and you would love to have business with us. The best part of our leads are the leads sold to you are only sold to you. YOu can write to me at willclose4utoday@yahoo.com

What is the best way for a married woman w/a joint mortgage to buy a condo as a single buyer?

Q) i am married but never had my name on the family house. this recently changed. i would like to buy a condo in just my name. is there a problem with that? if not, how do i do this?

A) you apply for a mortgage in just your name with using only your credit history

What is the best method to get the cash out of your paid off mortgage to buy another house?

A) All these people are trying to guess what you are doing exactly. Are you buying the second house to live in or as a rental? Are you keeping the second house for a long time or selling it soon? Maybe you want to live in both houses- like a weekend lake home? I recently sold a home I lived in for 24 years and both another, more expensive home. I didn't want to even put my "old" house up for sale until I had moved into the "new" one and had painted and cleaned the "old" one. I chose to get a bridge loan on the "old" one (a short term equity loan) until it was sold. That way I could use some of the equity as a down-payment on the "new" one. The interest rate is high on a bridge loan but it is a very short time (two months for me). I could of have done a first & second lein against the "new" house and paid the second lein off once the "old" one was sold but the fees seemed high. If I was going to keep both properties for a long time I would have thought differently about intrest rates and fees and tax benifits. A lot of people need to sell their first house in order to afford the second house and so co-ordinate the sales to happen at the same time.

what is the best way to fund a buy-to-let-mortgage is it to release equity on your own house or a mortgage?

A) The best way is dependent on degree of risk and carrying charges of loans. If you have an estate that has a lot of capital value. A mortgage against the home is your own money paying you to have an income producing property. If you are average below 75% ownership of equity in your home, then a mortgage on the property to let is the best course of action. You should pay the mortgage on rental property at twice the speed as a mortgage on a home. The sooner the rental property is mortgage free the sooner you are freed from mishaps that come with rental of income property.

What would be the best mortgage if I wanted to buy a house and sell it for more money after a few months?

Q) the best "type" of mortgage

A) If that is your plan and you will serious about selling within a year. I would go with a Interest only 1/1 ARM. Which means you will only pay the interest on the loan and the adjustable rate should be lowest. 1/1 means it will have a fixed rate for 1 year and will begin flucuating after fixed period. I would only suggent this type of loan on the type of scenario.

Help determining how much mortgage company paid to buy a loan in pre-foreclosure?

Q) Question for your real estate investors out there. I am aware of a property that is in pre-foreclosure. I happen to know that the mortgage on this property has been sold a number of times (I realize that this is very common in the mortgage industry). However, the company that holds the loan now is one of those last stop mortgage companies. They buy mortgages that other companies have written off as bad debt. Is there a way to find out how much this company paid when they bought the loan in question?

A) Look at your county treasurer and auditor.

How and where would you buy mortgage notes?

Q) Where can I go to buy mortgage notes? How does the whole thing work? After I purchase, how would I receive the monthly payments, who to contact, where to store the notes, etc etc. Um, is there a book, website, or a class I can take or learn from? Where should I start?

A) Most large cities have people whose business is to sell mortgages. Ask your friends that sell real estate. You just pay for the mortgage and it is assigned to you. The mortgage seller will tell the person that is making the payments to send the payments to you. You should store the mortgage and notes in a fireproof safe deposit box. If you need more info, look up my profile and send me an email. BOB F

I have bad credit and want to buy a house, whats the best mortgage company to go with?

Q) its bad i know im going to have an outrageous intrest rate

A) your best bet is to deal with a broker, who deals with numerous companies. kind of like a travel agent, who has access to different airlines. Ask for a "Good Faith Estimate" and compare the estimates. Yes, you'll pay a higher rate but if you can get a mortgage it will help build your credit.

Mortgage question! I own a paid off 5 bedroom 3 bath house and would like to buy another. Whats my best bet?

Q) I own a 4 bedroom, 3 bath home. Free and Clear. I rent it out for a bout 1000 a month. I have 4k for a down payment and would like about 70k for a home to live in. I have about a 580-600 credit score with NO Negatives on my record for the last few years. I don't have a steady job as I just quit my property management position to work part time as a waiter, and full time as a real estate agent. Anybody think Ive got a shot at a mortgage? Im paying 650 a month now for a luxury apartment and havent missed a payment in the 2 years Ive been living here. THANKS!

A)

what is the interest rate on a new mortgage?Is now the best time ever to buy a house?

A) Try the links in http://www.hot8sites.com/mortgage/ for all information on mortgages