mommy_2_little_man asked:


I’m clueless about how home loans work. Is there any way to figure out how much I can afford to spend per month on a home. If I were to get a home for $145,000 how much would that be per month? How do I know how much the interest will be? Any sites that explain it all in laymans terms? Thanks

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kjay asked:


As opposed to paying principle and interest? I know what the difference is, i was just wondering what the benefits of paying interest only are and vice versa. Im in Australia, if that makes any difference. My partner and i are looking into purchasing our first home when i got back to work after finishing maternity leave. What is the maximum loan term for home loans in australia? There was talk of ‘lifetime’ loans becoming avaliable, but i havent seen any yet.

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huggybearspartan asked:


Ok, when you get a home loan for let’s say $100,000 and you buy a house for only $80,000, what happens to the $20,000 you didn’t use? Can you use it to renovate your house or what?

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David C asked:


With people who got their faulted loans refinanced by Fannie May (or however it’s spelled) buy out the poor credit loans and they are looking at getting the buy out will that mean those who have loans faulted by them stay in their homes they didn’t pay for?

I mean I have a legit loan through GMAC why can’t I fault on my loan and get my house for free?

I am not sure if this is the truth behind part of the buy out is this true can someone explain?

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Hannah H asked:


I wnat to know why you need a license and what areas you can start in without a license, some good ideas to get my foot in the door. Really I want to start a buisness of Flipping homes, I know all the labor end of the deal I just need help with the paper work end. How do people get home loans for this with not that great credit?

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littlepink_sweetie asked:


The bank told me under $5,000, is this correct, or did I hear him wrong? And if you are buying a home does your spouse have to be on the loan? I know the deed needs both names. Any advise on home loans and debt would be great.

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thomas p asked:


I HAVE A LOW 500′S CREDIT SCORE, WE HAVE BEEN A STRUGGLING FAMILY FOR YEARS NOW, WE HAVE 7 KIDS AT HOME, 4 ARE FROM PREVIOUS MARRIAGES.WE ARE IN THE NEED OF OWNING OUR OWN HOME, IVE RECENTLY GOT A PROMOTION AT WORK THAT ALMOST DOUBLED MY INCOME.BETWEEN THE BOTH OF US WORKING WE MAKE ROUGHLY 80 A YEAR. CAN WE STILL GET HELP WITH A HOME LOAN?

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PrimeConcern asked:


Given all the worries about credit in this country, and subprime mortgages, I was curious as to what the entire amount of home mortgage debt is. There are about 110 million households in the country, with 70% of them owned residences. Let’s say there are 75 million owned homes. Not all have mortgages, but if 70 million do, and the average mortgage amount on such homes is $200,000, that comes out to a scary $14 TRILLION of mortgage debt in the USA. If just 2% default, the amount of bad home loans is $280 billion. It could obviously be much higher.

Does anyone know what total mortgage debt is per household and in total? This is a real problem that could damage the economy.

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peter asked:


I am a mortgage broker and want find out how I can fund small business loans too. can I broker them to banks?

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HAPPY_DAYZZZ asked:


What are the requirements for the two home loans?

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