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Can You Help by Buying a Relative's Loan?
March 6, 2000 "My niece recently purchased a home and I want to help her by buying the mortgage and charging her less than the 8.5% interest she pays. Its an FHA loan and I think she pays some bank. Can you tell me how to purchase the loan and become the lender ... more... Should I Purchase the House For All Cash? March 6, 2000 "My wife and I are both in our late 20s and would like to buy a home for $250,000. We have $500,000 in available assets, including cash, stock, and bonds, as well as $100,000 in retirement assets. We have no debt. We can afford to pay cash for the home. Should ... more... |
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buying home mortgage loan rate related definitions |
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Second Mortgage, Home Equity Loan
Second Mortgage, Home Equity Loan A secured loan (mortgage) that is subordinate to another loan against the same property. More specifically, the second loan in sequence. Generally, second mortgage hass a higher interest rate and with shorter terms than a ... more... Adjustable Rate Mortgage, ARM Adjustable Rate Mortgage (ARM) Also known as a variable rate mortgage. The interest rate on these mortgages changes periodically. Variable or adjustable loans are loans whose interest rate fluctuates over the period of the ... more... |
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More about buying home mortgage loan rate
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