8
votes
5answers
547 views

What equity would I have when selling early on in mortgage?

I'm trying to wrap my head around the idea of mortgages, and I hope someone can help me. Say I buy a house for $100,000. I put down $20,000, and get an $80,000 mortgage. I've heard that for the ...
13
votes
4answers
322 views

Owner-Financed home sale or Land Contract — how to handle the transaction and the ongoing entity?

My sister and I inherited a property in a rural, backwater area rather inconveniently located to where we live. We've got zero interest in keeping it. To wit, we put it on sale and now are recieving a ...
3
votes
2answers
5k views

How do I calculate break even on selling a home?

I've only owned 1.5 years, but looking to sell my home because I want to change neighborhoods. Since most of the early mortgage payments on my 30-yr fixed rate loan go to interest rather than ...