equity line of credit. Original good faith 6.625%.  After I paid for the appraisal the loan was then 12.3% then when the final paperwork came to be signed it was a 12.3-18% variable.
211234
1) Do not contact 'motgage guru' since on a purchase there is NO RIGHT of RECESSION; period. You only have a 3 day recession on a refinance of your primary residence. Adding a HELOC to a primary residence is a refinance transaction.\n\n2) It sounds like your getting the shaft... Either cancel if possible or start yelling! Once you sign those docs they are set in stone.\n\n3) On a HELOC the rate is based on the prime rate. When you received your GFE the prime rate may have been lower and then it increased since you got the GFE; currently prime is 7.75%.\n\nWhat it kinda sounds like to me is that your HELOC has an introductory teaser rate for a couple of months at 6.625 or there abouts but with the fully indexed rate at 12.3%. What the 18% is telling you is the maximum interest rate cap on the loan. If you take your 12.3% and subtract out the prime rate you have a margin of 4.55%. What this means is that when ever prime goes up or down, add 4.55 to the current rate and there you are.\n\nIf you want to speak to me in some detail about your deal I maybe able to assit you with a much better product.\n\nKevin\nkruorock@firstratelending.com 866-562-6838 x 106
131740
It's been so long since I did ratios, I don't know if I remember them exactly...but I think current ratio is 2.5 ($40,000 current assets / $16,000 current liabilities), debt to equity would be 0.75 (Current liabs plus long term liabs = $60,000 / $80,000 equity), return on equity would be 9% ($7,200 / $80,000).  Hope you are just using these as check figures!!!
550748
a)10 days from July 7th, around July 17th\nb)July17th , same as above\nc)$9800\nd)If you go on the 10 th of July, you still have 7 more days to avail discount. So you borrow $9800 instead of 10000. So the principal is $9800 and interest is 9800x0.085=$833\ne) you didn't save any money by borrowing but incured a loss of $633. Of course you saved $200 on interest by taking discount.
175951
210,000 is 88% of 238,636.36\n\n206,800 is 88% of 235,000\n\nIf your offer is 210,000 and the appraised value is 235,000 any lender will loan money based on the fact the value of the property exceeds the purchase price.\n\nWill the seller accept the offer?  There is no way to tell as this would be the seller's personal choice.\n\nI am not understanding where the 88% calculation matters.  If your contract specifies that the offer is contingent on the sales price being at least 88% of the value, then you are fine because 210,000 is 89.36% of the value of 235,000.
423651
Use this formula:\n\nWACC = We*Re + Wp*Rp +Wd*Rd*(1-t)\n\nwhere We is the weight of equity (8MM/16MM = 0.5)\nwhere Wp is the weight of preferred (1MM/16MM)\nwhere Wd is the weight of debt (7MM/16MM)\n\nRe is the return on equity\nRp is the return on preferred stock\nRd is the return on debt\n\nt is the tax rate = 0.4
635850
Well, it means you have to have 20% equity in the home, meaning that the loan will not amount to more than 80% of the value of the home.  You will get lower interest rates than on, say, 5% equity, because the lender rightly guesses you will work harder to pay off a loan where you have the risk of losing 20% instead of just 5%.  If you are in the US, visit http://www.nationwideadvantage.com to apply for free and get a decision in minutes.
521121
1. 50 x (.35)=17.5  \nExplanation %=((part of)/whole )x100\nso part of=whole (%/100)\n2. 40 (.82)=32.8 (33)\nSame as above\n\n3. (1.75 -1.5)/1.5=.166 16.6%\nExplanation again %=((part of)/whole )x100\nIn this case the original whole is 1.5 \n\n4. (12000-8500)/12000=.291 0r 29.1%\nIn this case the original whole is 12000 \n\n5. 20/1.75=11.43\nHere is a bit tricky x(1+%/100)=the new whole (interesting term ha?) or the original whole + increase = the new whole :)\n\n6.2000(1+.04) (1+.04)=2163.2 (made a mistake earlier)\n\n\nyear 1  principal + % or earned interest (1)\nyear 2  principal + % or earned interest (1) +(principal + % or earned interest (1) %)
441803
I am amazed at some of the responses:\n\n1. "Its' pretty rare to get more than 90% of the property's value."  This is plain wrong! It is rare to get financing greater than 100% of loan-to-value, but it's very common to get financing for 95%, 97%, and 100%.\n\n2. "It has to appraise out at $200,000 [to get a loan for $200,000]." This quote needs clarification. If the agreed upon sales price is $185,000, conforming/conventional (FNMA) lenders will loan a max of $185,000.  Conforming lenders will loan on the LESSER of the appraised value or agreed upon sales price.  There may be some non-conforming lenders that will lender on the greater of the two, but you will pay through the nose for a high rate.\n\n*** Guys, if you haven't worked in the mortgage business, please be very careful as to the information you pass along.
174297
It means the financial institution (lender) has charged-off a loan (its asset) from its financial books.  It has no impact on the legal obligation of the borrower to repay. It is a blemish on the credit report of the borrower that remains for at least seven years. Other potential lenders will view a 'Charge-off' very negatively, and will likely decline a loan request or charge a substantially higher rate of interest and require security/collateral to mitigate the risk associated with making a loan.
511240
The people who bought my house did this several years ago. We were asking 62k. That would have required something like 5k-6k down plus closing costs. They had the paperwork drawn up for a 69k+ selling price, with the buyer (me) putting down the down payment and all closing costs. (The money came out of the final check to me.) I got my 62k, they got their house, and financed it at 69k.
633057
In a construction loan, you can use the portion of equity you have in the land towards the total "finished" value. Basically, your down payment is within the land that is already payed off. I specialize in commercial/construction loans if you'd like to see about getting an approval, let me know.\n\nSome basic questions:\n\n-Do you have plans already\n-What is the zoning of the land\n-what are the total construction costs\n-Do you have permits\n-Where is the property located\n-what do you estimate the value (completed) to be\n-Are you and your significant other employed/retired & what income/how long on your jobs\n-is the property in a rural or urban area\n-what is your credit situation\n\nThese questions should be enough to get some accurate figures for you.
360044
hard to know...you'd have to ask the bank.  Sounds like it may be accrued interest to the day of the month you are making the payoff and some sort of administrative fee--maybe title transfer fee?
148718
This represnts the final numbers charged in the loan closing. It is the exact charges listed on government form "HUD - I - A settlement Statement".
360875
If the bond was bought at issue the price paid would be RM2 mil.\n\nBut you say it yieled 6.5% and this is equivilent to RM12000 *2 (because it is semi annual) so it must have been bought for 369230.  (i.e. 24000 is 6.5% of 369230).\n\nA yield of 6.1% (24000) is equivilent to a value of 393442.\n\nSo profit is \n\n24000 * 5 = 120000 (coupon payments)\n393442-369230 = 24212 \n\n24212+120000= RM144212 = profit.\n\nThe original yield on the face value is 1.2%
128908
When you apply for a mortgage your application is reviewed based on a specific interest rate.  They determine if you will qualify at that rate.  Once they determine that you are qualified they will give you a "commitment".  The commitment is a written document where they are promising to give you a loan for a specified amount at a specified rate.  You are required to sign the commitment and return a copy for the commitment to be valid and enforceable.  Once there is a signed commitment they have to honor those terms.  However, the interest rate in the commitment often is valid for only 30 to 90 days.  The commitment will specify how long the interest rate is "locked".\n\nTo sum it up, the broker can promise you the world but only the commitment will contain the numbers that you end up with.  And unless the broker is a personal friend or relative then he is most likely out to get the commission.
585565
Generally you're allowed to borrow 75-100% of your account value on margin. It's not always 100% since the stocks might go down in value and the broker protects itself, in case you default on the loan and they have to sell your shares.
588177
Assuming you can prove what you say.....they should have given you a Truth In Lending disclosure, that states the annual percentage rate, the monthly payment, the number of payments, the total of interest and the total of payments.  Your state should regulate lenders.  This is usually done in a Consumer Credit Commission or Banking Commission.  Contact your state's Consumer Protection Agency, or the Consumer Protection Division of the Office of the Attorney General.