A mortgage is a loan that is secured by real property (land, buildings).

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Can i avail rebate on Home loan interest without sale deed and registration

I have booked a flat in June 2011 and taken loan from bank. I am paying EMI since August 2013. Physical possession of flat given to me in November 2014 but sale deed not given to me by builder till ...
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112 views

Possible refinance from 15 year fixed to 7/1 arm

I have a 15 year fixed mortgage at 4.25%. Remaining balance 167.754 due to be paid 8/1/2015. I pay an extra $200 payment towards the principal each month. I'd like to pay the mortgage off in 6-7 ...
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Mathematics behind deciding to do a lump sum mortgage payment vs. RRSP contribution?

If I have 10,000 extra dollars, how could I decide between doing either: A lump sum mortgage prepayment (2.1% variable closed interest rate, 250k remaining balance), or, An RRSP contribution ...
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HAMP enrollment and side effects

I am in the process of getting enrolled in the Home Affordable Modification Program through my bank to lower my mortgage payment, which is high because I got my house back in 2007 and haven't ...
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33 views

Interpreting mortgage rates

today is November 2014 and this comes from the state of Illinois, US I have received a mortgage preapproval letter that contains the following clause: The type of loan chosen is FNMA Agency 30 Yr ...
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51 views

Excel Canadian Mortgage Formula Help

I need to get the ending balance formula for a project in excel calculating mortgage payout. I am hoping to develop a formula instead of formulating an amortization table. I have used the following ...
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As a non-canadian resident can I get a mortgage loan in Canada?

I am willing to buy an apartment in Canada, where I'll be living for 5 years with a student visa (I am swiss). Can I get a mortgage loan in Canada although I am not Canadian neither permanent ...
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115 views

Paid off 2nd mortage early, balloon due 2022

I just paid off my second mortgage with a balloon payment due in 2022. In paying off the 2nd mortgage, balloon payment goes away correct? I am done, done done paying this rip off lender? thanks in ...
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When mortgage in dollars should be replace with mortgage in rubles?

I've found the picture below, which demonstrates at which RUB/USD exchange rate mortgage in rubles is less expensive, then mortgage in dollars (i.e. when refinancing of dollar mortgage to ruble ...
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Formal Definition of APR

I have seen several conflicting sources on the internet about APR. Some say the effective rate is (1+APR/n)^n -1 while others say this formula is the APR since APR represents the rate over all ...
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216 views

If I give my daughter $57K for her mortgage down payment and closing costs, will I owe taxes on the gift?

My daughter lives in Florida. I would like to give her $57K of my savings to cover her mortgage down payment and closing costs. I live in Puerto Rico. Will I have to pay income tax on this transaction ...
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528 views

Personal “Profit & Loss Statement” required for mortgage?

I am purchasing a house and have finished most of the process. My mortgage application has been approved pending some documents; all of these documents are typical except for "Profit & Loss ...