1
vote
1answer
54 views

Who originates loans guaranteed by the USDA Farm Service Agency?

The official Guaranteed Farm Loans page says: FSA guaranteed loans provide lenders (e.g., banks, Farm Credit System institutions, credit unions) with a guarantee of up to 95 percent of the loss of ...
1
vote
1answer
78 views

When bi-weekly payments are made on a mortgage, is the bank required to zero out the interest?

Is a bank or loan company required to zero out the interest every 2 weeks when bi-weekly payments are made on a mortgage loan?
-5
votes
2answers
171 views

Can IRS detect cash used to pay mortgage as income? [closed]

Simple question: hypothetically, assume I had cash every month that I did not want to deposit (e.g. if I had renters paying cash for rent or some such income). If I took that cash directly to my ...
4
votes
3answers
615 views

Can I check multiple lenders for mortgage rates, via preapproval, and have it only count as one hard inquiry on my credit?

Note: This applies to the State of New York (the NYC metro area), in the United States. I'm shopping around for mortgage rates. I'm not sure if I have to get a preapproval mortgage to get their ...
6
votes
3answers
187 views

I have an “excellent” credit rating. Do I need to get a preapproval mortgage letter?

I'm in the infancy of buying a residential property. I have a credit rating of EXCELLENT. Do I need to get a preapproval mortgage letter? I thought that getting preapproved would expedite the ...
4
votes
4answers
693 views

Why don't banks calculate interest in CDs using continuous compounding?

Why don't banks calculate interest in CD using continuous compounding (which is higher than compounding quarterly)? While in the case of a mortgage they use continuous compounding.
8
votes
4answers
3k views

Why are monthly mortgage pre-payments applied to the back-end of the mortgage?

After having paid several years of 'extra' principal payment on my mortgage, I found that the extra monies were being applied the the 'back-end' of the mortgage instead of the 'front end'. The ...
17
votes
1answer
678 views

Paying off home mortgage and lender wants a “Recording Fee”

So I whittled down my house note to the point where I have enough cash to just pay it off early and be done with it. Yay! I asked my lender (well more accurately their website) for a "payoff" ...
6
votes
2answers
213 views

If banks offer a fixed rate lower than the variable rate, is that an indication interest rates may head down?

This is one of the major banks in Australia: http://www.anz.com/aus/RateFee/InterestRates/Rates.asp At present time, the variable rate is 7.80% but the fixed rate is 6.99% for one year. And it seems ...
1
vote
1answer
103 views

Can I apply for immigration if I have a house mortgage to pay?

I am planning to continue to pay the mortgage after immigration. But I don't know if the bank will allow me to pay house mortgage from another country.
1
vote
2answers
2k views

Can I get a mortgage from a foreign bank?

I live in the UK is it possible to transfer a mortgage to a bank based in a different country that doesn't operate in the UK, say Germany or United states for example?