New answers tagged home-loan
6
A single person making 6 figures is in the 24% tax bracket, a taxable income over $82,500.
This means a 3.125% interest rate costs you a net 2.375%*. This is less than long term inflation. I understand being 'risk averse'. Only asking you to consider the long term. The difference between being invested in stocks vs cash (i.e. CDs or government treasury ...
3
That 3.125% is the APR: Annual Percentage Rate, instead of the total percentage paid.
The interest is very high! The absolute number $36,000 is very high! It would be even higher were it for 30 years. But that's the cost of borrowing money.
Do you think it is better to pay more cash and less loan? Always. But being house rich and cash poor is just as bad. ...
3
Putting more down will definitely decrease the amount of interest you're paying. From a financial standpoint, though, the question is what would the money be doing if it wasn't part of your down payment? If you're saying that you're keeping 150k in a checking account/ money market account at a bank that is earning less than 3.125% interest then putting ...
2
After the death of the property owner, the property passes on to the nominee so just get it checked by an advocate who is the nominee and that person can officially sign all the documents of the respective property
3
If a property belongs to someone and they die, the property passes on to their estate. Typically it would be your mother (most property held by husband and wife have the right of survivorship). This should have been handled when their will was read as part of the probate process.
2
have an income from renting it out
And pay property taxes, regular maintenance, emergency maintenance (RIGHT NOW because it's flooding the house!), repairs when the tenants trash the place, continue to pay the mortgage even though there's no tenant...
but pay twice as much in loan repayments for a longer time
You're paying twice as much to get twice as ...
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