GA Mortgage

My daughter is buying her first flat and money will be tight,what kind of mortgage would suit a first time buyer and why? All answers gratefully received.
With Thanks

You should get her to talk to an independent mortgage broker who can search a panel of lenders for the best deals hat are available for your daughter depending on her circumstances, A reputable independent broker will not charge a fee for advice, only a small fee for getting a mortgage offer in place.

I’m getting a divorce and eventually moving out, and I don’t really want to throw money away on rent. I’m thinking of buying a mobile home (because they’re inexpensive) but was wondering if I can get a full 30-year mortgage on one, so I can keep my payments as low as possible? (And no mobile home jokes, ok??)

Yes You Can get a federally insured mortgage for 30years. If you are looking for the best home mortgage rates or want to reduce your mortgage loan payments, check out this site

http://Best-Mortgage-Refinancing.com

Here you can get free quotes from all available companies in your area. its the best way to find an affordable payment with a reliable company.

Hope this help,

If any of you have hurt by mortgage crisis, could you please tell me your story and how do you handle your finance. How much percentage did your house’s price dropped? Is it affected your lifestyle?

I have a low (5 1/2%) fixed rate loan so it has not affected me directly. The value of my home has probably fallen about 10%. But it has not affected my lifestyle since I am not planning to sell any time soon.

I have a friend who is a builder and would like to use me for his mortgage broker. I have no problem finding banks who will do financing for owner occupied builder programs, but nothing for spec homes. A lot of the banks offer spec programs on the retail side, but I’m having trouble finding it wholesale. Thanks!
I do know what a spec home is
My rep at Indymac said that they only do owner occupied construction, but maybe there is another dept she’s unfamiliarr with? I’ll ask her again. Thanks!

I don’t think you know what is spec home is. A spec home is just a home that is build in speculation of a buyer and was not a custom built home. 98% of all homes built are spec homes.

Democrats Caused Our Economic Crisis

Democrats created the mortgage crisis by forcing banks to give loans to people who couldn’t afford them. Click here to view a video that shows the Democrats covering up the Fannie Mae and Freddie Mac scam that was at the heart of our economic crisis. Franklin Raines, a financial advisor to Obama, walked off from Fannie Mae with a $22 million dollar severance package.

Fannie Mae and Freddie Mac scam DID NOT create the financial meltdown.

The private sector WAS: http://www.mcclatchydc.com/251/story/53802.html.

Freddie and Fannie weren’t even securitizing subprime mortgages en-masse until 2005: http://www.nytimes.com/2008/10/18/opinion/18barr.html

As Center for Economic and Policy Research co-director Dean Baker has written, “Fannie and Freddie got into subprime junk and helped fuel the housing bubble, but they were trailing the irrational exuberance of the private sector. They lost market share in the years 2002-2007, as the volume of private issue mortgage backed securities exploded.”

http://www.prospect.org/csnc/blogs/beat_the_press_archive?month=09&year=2008&base_name=market_place_misleads_the_publ

McCain’s $169,000 from Fannie AND Freddie directors and officers and lobbyist:

http://graphics8.nytimes.com/images/2008/09/10/us/politics/10fannie.graphic.jpg

Aquiles Suarez, listed as an economic adviser to the McCain campaign in a July 2007 McCain press release, was formerly the director of government and industry relations for Fannie Mae. The Senate Lobbying Database says Suarez oversaw the lending giant’s $47,510,000 lobbying campaign from 2003 to 2006

In addition, Politico reports that at least 20 McCain fundraisers have lobbied for Fannie Mae and Freddie Mac, pocketing at least $12.3 million over the last nine years.

http://www.motherjones.com/mojoblog/archives/2008/09/9663_mccain_fannie_freddie.html

I have debt that I want to consolidate into a home purchase, since I found a home that is priced well below appraised value. Since there is already equity is there a lender that will do a first mortgage and second at the same time? This would reduce my debt to income and put me into a better financial situation since I would only have one payment would be lower.

It is going to be tough to get more than the purchase price of the home. There are a few lenders who might be willing to lend 125% but the interest rate will be on the higher side.

You will not know for sure till you ask around and do your research. Use a site like Bills.com to get quotes from multiple lenders, that way you will know the chances of getting the kind of loan you are looking for.

You can put your information at:

https://www.bills.com/homeloan/purchase/

If a someone already has an investment property with a mortgage and they plan to purchase a primary residence (owning these two mortgaged properties at the same time), is it best to use the same mortgage lender or a different lender?

I’m wondering if there are benefits associated with going one way or the other, or perhaps there are some risks or drawbacks to be considered as well?

Irrelevant – go with whoever will give you the best deal.

Looking for a list of mortgage lenders and/or banks for each state. Any website out there like that?

Try bankrate.com . It’ll give you a lot of lenders to look at – good luck.

Can somone show me how to calculate a mortgage payment

like for example

what is the monthly payment on a $200,000 mortgage at 6% interest over 25 years?
Can somone show me how to calculate a mortgage payment

like for example

what is the monthly payment on a $200,000 mortgage at 6% interest over 25 years?

I need to know how to do the mathematical calculations, don’t just give me the anwser.

monthly payment = interest portion + principal portion
m1=12 in us the interest is compounded monthly
(in canada m1=2, interest is compounded semi-annual)
m2=12 payment every month
YR=25
%int=6 percent annual interest
n= m2 * YR = 12 * 25 = 300
int=%int / 100 / m1 = 6 / 100 / 12 = 0.005
INT = (1 + int) ^ (m1 / m2) -1
INT = (1 +0.005) ^ (12 /12) -1 = 0.005
PV = loan = 200,000
F1 = interest portion of mortg
F1 = PV * INT = 200,000 * 0.005 = 1000
F2 = equal monthly payment factor
F2 = 1 – [1 + INT] ^ [ - n ]
F2 = 1 – [1 + 0.005] ^ [ - 300 ]
F2 = 0.77603432
PMT = monthly payment = F1 / F2 = 1000 / 0.77603432
PMT = 1288.60

because i’m interested in becoming a real estate agent and mortgage broker but i dont know if that would be possible. which one is better or makes more money?

They are the same thing.