I want to buy a house, can you please tell me if I’m right?

March 7, 2010 by admin · 4 Comments
Filed under: Loans Calculator 

Im 18 and have a job at $9 a hour , (40 hours a week) ( i will get a raise in about 6 months)
Im going to save everything I make for one year. Each month the only money I can spend is 118$ on my credit card to try to get good credit and everything else will be in the bank. (I stay with my Grandma)
A home I want to buy will cost $64,900. The website the house was listed for sale on had a calculator automatically set.

The down payment was listed at $12,980. (Is that 20% of the home , or what percent is it?)
It is a 30 year fixed loan @ 6% interest. The monthly payment is $311.

1. Can I get that loan with 6 % interest ?
The total amount of money that i can spend on my credit card for that year is only $1400, everything else will be saved for the home.

2. I JUST GOT MY 1ST CREDIT CARD TODAY. Will i have a good credit score in time to get that loan with 6% interest and buy the house?
Im in Texas.

Is this Correct?

4. $311(monthly payment) multiplied by 12 (1 year) equals $3,732.

30 years (loan) mutliplied by $3,732 (1 year) equals $111,960.

$111,960 plus adding my $12,980 (down payment) equals $124,940.

So if i payed the house off in 30 years the TOTAL payment of everything i spent with the interest already added would be 124,940??

THANK YOU VERY MUCH!!!!!!!

What are the average interest rates for car loans right now?

February 21, 2010 by admin · 5 Comments
Filed under: car-loans 

Does anyone know what the average interest rates are right now on car loans? I keep seeing that the fed cut interest rates but does anyone know what they are?
we are looking at a used car. Both of our fico scores are right around 700

mortgage refinance right for us?

February 14, 2010 by admin · 5 Comments
Filed under: Loans Calculator 

I have a 1.30% negative am loan that i need to get out of, i currently owe 650,000.00 for both my first and my second, my question is can i get a loan that is not a negative am loan and have my payments at 2,450.00 including my taxes? Even if i have to get myself into an interest only loan for the first 3-5 years or so, by then my wife and i would be off better financially and can refinance into something fixed. My home is worth about 750,000 so i still have some equity in it and have had this negative am loan for about 2 1/2 years now. I was on lending tree and put my info in the mortgage calculator and it brought out different scenarios and one did have a payment of 2,450.00 is this realistic? i pay 8,200.00 in real estate taxes a year.

Where can I get a signature loan with bad credit. Trying to get it right. ?

February 12, 2010 by admin · 4 Comments
Filed under: signature-loans 

I am divorced. Do not own a House. I work for Verizon and make approx. 60k pr year.

What banks have money and are lending for home loans right now?

February 8, 2010 by admin · 2 Comments
Filed under: Loan 

I have a FICO score of 725 so I’m thinking if I find the right bank I could still get a home loan even in this economy, but which banks should I apply at first? I live in Northern California and want a fixed rate loan.