percentage of the original mortgage loan required to be paid as annual debt service is called ?
374433
principal reduction (per amoritization schedule)
171494
Traditionally, your home mortgage payments should be no more than 25% of your monthly net (not gross) income.
879103
multiply amount owed(pay off) by % and add. subtract that amount from the original amount. if I am understanding you correctly.
537125
YES YES IF YOU HAVE AT LEAST A 580 CREDIT SCORE (SHOWING W2) I DO NOT HAVE PMI OR MI WITH 100% WE ALSO OFFER 6% CLOSING COST TO BE ROLL INTO THE MORTGAGE FOR A TOTAL OF 106  I AM A SR LOAN MANGER AT A MORTGAGE BANK . ANY QUESTIONS PLEASE EMAIL AT JOHNG@OLDMERCHANTS.COM
975864
No.  The other way around.  This is the balance owed that DOESN'T include interest. \n\nLet's take an example.  \n\nIf you borrow $100,000 at 10% with no annual payments due and interest calculated using annual compounding.  \n\nIn year 0, the principle owed is $100,000.  \n\nIn year 1, if you don't pay any money then the principle owed is $100,000 and $10,000 interest for a total of $110,000 owed.\n\nIn year 2, at the end of the year you would owe $121,000 comprised of $100,000 principle and $21,000 in interest ($10,000 from last year and 10% on $110,000).\n\nIn year 3, if you paid off $50,000, you would have racked up another $12,100 in interest.  This would mean that your $50,000 would have paid off $33,100 ($10,000+$11,000+$12,100) and the remaining $16,900 would have gone to principle.  You would then owe $83,100 in principle.
267473
That is correct, but if you want to know how to figure that rate for each month it is the % rate divided by 12 months (3.99/12).  It is also important to know how it it compounded (some figure interest daily, and you pay more interest.  soem figure monthly), because it can mean a big difference in the interest paid by the end of year, even if it is the same interest rate.
740691
The general rule of thumb is monthly house payment (principal, interest, insurance and taxes) should be no more than 28% of gross income and total monthly debt payments should be no more than 36% of gross income.\n\nPS.  FYI I work for one of the largest mortgage companies in the US and we use this formula along with other considerations.
244161
Points are a percentage of the mortgage you pay upfront, at closing usually in exchange for a lower interest rate.
414954
APR is a calculation derived by taking the closing cost of financing adding them to the total loan amount and dividing that loan amount by the loan term.\n\nFor ARMs the APR calculation according to TIL guidelines should be calculated according to a worst case adjustment scenario.  This means that the APR on a 30 year term 1, 2, 3, 5, 7 year arm or other adjustable product will have an APR of closer to 13%.  (This is obviously ridiculous, but it is what it is).\n\nThe APR calculation will be (technically) different for just about all loans.\n\nI think that what you are looking for is the average closing costs on a loan of a certain size without points.  Make sure you mention the particular state... Typically, a lender will be able to give you a rough cc estimate.
1030540
Even though its an annual fee it will accrue interest in you do not pay the whole balance off.\n\nLC
213874
Most banks decide what to loan you using the 28/36 Rule. That means your house payment can’t exceed 28 percent of your gross monthly income and your total debt can’t exceed 36 percent
431671
Basically your bank will loan you money based on the value of your property. There are loan ratios so lets say they have a 10% ratio (I think thats normal although others demand more or less depending on the area). That would mean you can borrow up to 90% of the value of the house. If the house is 100K you could borrow 90K. Now if you only owe 50K because you bought it a a few years back and it has gone up in value then your bank will lend you up to the 90K (or an extra 40K) for you to do whatever you want with. Its a cheap way to finance debt for purchasing things like cars, holidays, extensions...than using a credit card or personal loan BUT it means you are putting those things under your home loan and if you dont or cant pay then they reposses your home. You would start by going to your bank and having the home valued by a professional they recognise to see how much you could borrow. A good bank will pay for this service for you as long as you take out a loan with them. You generally set up a new loan (which means a new fee) and then your back to normal. Your home loan repayments will go up but they should be able to calculate these for you so you know what to expect. Remember interest rates are on the rise so factor that in. Happy spending.
834889
Depending on how long you have had the loan I would say probably never. This because most lenders calculate the interest portion of you payment using the rule of 78's. Simply put this means that most of your payments in the first year are going to interest not to principle.  Ask the lender what the payoff number is and you should be able to determine how they have treated yor loan.
590303
If you have your mortgage paid, then you'll have all the interest paid as well. That's a good thing. But if you have credit card debt, go after that first. More than likely it's 4 or 5 times the interest rate on your mortgage.
1109680
Anyone offering to lend you 5X your joint income is a shark and you will pay more for the money than it is worth.  This is called Predatory Lending.\n\nThe old "rule of thumb"as that your total debt to income ratio should be no more than 36% of your monthly gross. There is a bit more flexibility now with the new automated underwriting systems.
298403
i'm not exactly sure how it works, but the 4.47% (or whatever it is) is the APR, the percentage of money you will make at the end of the year. they might pay you monthly, but it won't be 4 and a half percent a month but over the entire year.
389034
This is false. Mortgage rates are determined by the bond rates which are not seasonal at all.