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For PMI insurance on a home loan
Isn’t it the responibility of the Loan company to evaluate this annually? Loan Company is asking for $300.00 for an apprasial. I’ve always been told that it was a law that the loan company had to automatically stop deducting this fee when the loan to value ratio was @ 75% or less. The rule is that happens automatically when you reach 75% based on the original amortization schedule,... [Read more]
Home loan EMI and HRA exemption for Tax return?
I have few more doubts: In case of the whole EMI deduction allowed or not, is there any specific limits for the declaration of Principal and/or Interest amount paid per annum ? Is the HRA claim possible even when the home loan EMI declaration is done ? For an annual gross of 14.5 lakhs with NO salary breakup and 31k home loan EMI { 18.5k HRA claimed,now in rental, new home pjt yet to finish } , how... [Read more]
What happens when your home loan switches to the adjustable rate?
What are the fha home loan rate like as of now? I’m looking to use a fha refinance for my current home? FHA refinance loans seem like my best option at the time for refinancing my home loan. Can anyone provide me with some information pertaining to the current fha rates? 4.875%-5.00% (on a 30 year mortgage) is about the lowest going rate right now. Alot is factored into that rate but that’s... [Read more]
Home loan interest rate vary between online quotes and the real ones ?
I am planning to buy a home – i have put an offer on a house and almost 100% done deal Now I have to look out for a home loan. I am looking at several online interest rate quotes what lenders are giving based on my facts. Some of them are sending quotes for 4.78% 4.5% , now does these rates change when we actually sign there application or do they have to stick with the rates what they have... [Read more]
Is now a good time to refinance my home loan?
Do you think the home interest rates will drop? I currently have a 30 year home loan at 6.375%. Should my home loan refinancing to a lower rate if possible? Stay where you are ! That is a great rate! Unless you want to consolidate debt or you are in an ARM, don’t refinance. How do i refinance my home loan/mortgage? My mother used a “VA” loan to pay for our home. the interest rate... [Read more]
