Posts Tagged calculator

home loans calculator
Question by : How long does it take to pay off 15k in student loans?
My parents are paying for my education, but because I want a car (to get to and from the school, which is about 3 hours away) they won’t get me one. My dad wants to get a new car and give me his, but my mom is dead set against this. She is delusional and thinks that I can just ‘borrow someones car’ or ‘find a friend that lives in the area’.

I proposed the idea of taking the amount of the car out in a student loan, so that way I only have to pay about 15,000 dollars. I don’t have the money for a car payment now, but I know that I can figure out a way to pay 15,000 once I have a full-time job.

Is there a calculator or a way to figure out how long it would take to pay off this sum? I don’t like the idea of being in debt, but I don’t want to be stuck at school all the time because I don’t have a way to get home.
Okay – just a heads up. My parents will be paying for the car, NOT ME. What I’ll be doing is matching the car price and taking that out in student loans… and I don’t care what you think I should do financially, I just want a timeline on paying it off!

Best answer:

Answer by the tax lady
Let’s see. No income, but you have to have a car.
Not just any car, but a $ 15,000 car. (You can buy a car for $ 5000.)

You don’t have income and can’t qualify for a loan for a car, but you want to say it’s for school and get a high interest loan. The interest is NOT deductible.

As for paying it off. It took me 4 years to pay off $ 10,000 by that was 30 years ago and I had discipline. A new car only cost $ 6000 back then, so this wasn’t hard on a $ 25K salary. There’s been a lot of inflation since then and salaries have not gone up a whole lot.

C’Mon, you are at college. You need to spend your time studying, not spending money so you can drive around.

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home loans calculator
Question by JYP-C: Would it be a Mortgage loan if the dwn pmt is 0000. & mortgage is 000.?
I have been trying to work with a mortgage calculator on buying a home which lists for $ 300000.00. I have a down payment of $ 250000.00. The calculator shows a negative mortgage amount. Would this loan NOT be a mortgage?
Thanks!

Best answer:

Answer by Sharon T
If a loan is secured by real estate, it is called a mortgage in most states.

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home loans calculator
Question by um: Should I buy or rent a home if I might be moving in 3 years?
My wife and I are both getting jobs in California. The rent we’re looking for is at most 1600/mo, and if we buy, we’re looking for a house less than 300,000.

Here’s the situation. We might or might not be moving in 3 years. If we don’t move, we’re probably going to stay in the same house for about 7-10 years before we move again.

I tried websites such as http://www.mortgage101.com/buy-vs-rent-calculator but I don’t know how to fill in or estimate the loan numbers and also home insurance numbers, so I have no idea.

Would you think it would be wiser to rent or buy? If I buy, I can always get “some” money back from renting out or selling right? But I still don’t know what costs there might be that I don’t know ahead.

Best answer:

Answer by Ryan M
RENT RENT RENT. NEVER buy a house unless you intend to be there AT LEAST 7 years. Most markets in CA still have a HUGE correction to make, so buying for the short term is NOT a wise idea.

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home loans calculator
Question by : The game of life (InVented)?
Okay so I made up a game. It’s like a financial life game but it’s really fun. What you do is you have to save money and go to college and get a house and a car and a good job. This requires a lot of thinking and logic to know how to play so I’m gonna explain it as best as I can. Okay things you need you need a IPhone/IPod then you need to go to notepad and calculator and you also need a random number generator, why? (to give random ammounts of money like expenses and job wages) so after all that. You need to write a biography. That’s step one. Then you need to make a calendar (in notepad listed under (Calender) (Don’t put any months until you start the game) after that put in your (Part time job) I say part time because you will be in college studying for your real career. You need to start college with a loan. So go to google type what college/ major you want then the cost of tuition per year there’s your tuition cost. Then open a loan and enter the APR use the calculator to determine the interest and how long it would take to pay off. You can chose to pay the loan in college or 1 year after college. Then you need to open a (Debt sheet in your notepad) to see your loans and credit cards and homes and cars. Then you need to open a savings sheet in note pad (what ever you save goes in there and is calculated as points. (after your done with the game you could restart a new life and try and bet that score) the random number genarator will tell you your expenses Each month for your salary then you could save it in savings or in CC Debt also every month you would have to put interest into your balance if you don’t pay it off. Also if you fail to pay your debt your credit score will drop every time you miss a payment and your limit will drop and you will have a higher interest rate and you will not be accepted for loans and other credit needed things. This is a sample of my life. (this very confusing but if you try you get it.

Biography 

Name: Marcie Gonzales 
Age: 20
Location: Queensland, Australia
Education: (H.S.D) 
GPA: 3.4
CCS: 640
Career: Sales Associate (Louis Vuitton) 
Salary:$ 32,400

Credit/Education

Credit Cards

Capitol One Silver Card

APR:15.00%
Fees:$ 100 
Limit:$ 1,000-$ 2,500-$ 5,000
Grace Period: Nov-Jan
-
Education/Classes

College: Academy Of Design (Australia)

Major: Fashion (Arts)
GPA:3.0
Tuition:$ 25,000 Per Year
Degree: 2-Year Bachelors 
Credits:0
Break: (July-August)
Graduation: September 2014
-
Car Loans
-
Home Loans
-
Personal Loans

Amount:$ 5,000
APR: 8%
Duration: 2 Year(s)
Payment:$ 225
Date: January, 2014
-
Student Loans

Loan Amount:$ 40,000
APR: 4.7%
Grace Period: September, 2012-March, 2015
Payment:$ 349
Duration: 10 Years

Savings

January, 2012
$ 2,700

February, 2012
$ 2,700

March, 2012
$ 3,200

April, 2012
$ 3,300

May, 2012
$ 3,800

June, 2012
$ 3,600

August, 2012
$ 3,700

September, 2012
$ 18,800

October, 2012
$ 18,600

November, 2012
$ 19,300

December, 2012
$ 20,400

January, 2013
$ 21,100

February, 2013
$ 20,800

March, 2013
$ 21,000

April,2013
$ 21,200

May, 2013
$ 21,000

June, 2013
$ 20,800

July, 2013
$ 20,600

August, 2013
$ 21,300

September, 2013
$ 22,018

October, 2013
$ 718

November, 2013
$ 436

December, 2013
$ 1,090

January, 2014
$ 1,318

February, 2014

Expenses

Home:$ 250
Utility:$ 250
Tax:$ 250
Tuition:$
Car:$
Loan:$ 225
Credit Card:$

Total:$ 975
21 minutes ago – 4 days left to answer.
Additional Details
GPA Determines what college you go to. Please use random genarator to see your GPA. There is a app you can get on the app store called (Random Number genarator)
19 minutes ago

Action Bar:stars – mark this as Interesting!

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Best answer:

Answer by Bria Mone’t
tl;dr

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home loans calculator
Question by : Loans and Amortizations?
Option A: A $ 25,000 home equity line of credit based on 7.8% APR annualized over a 10 year term. The loan is amortized at 7.8% with monthly payments of $ 162.50.
Option B: Same conditions, only the monthly payment is $ 300.68.

Under Option A: After ten years of making monthly payments of $ 162.50 at 7.8% compounded monthly at the end of each compounding period, will the Future Value be zero? (Bonus if you show me the values to enter in the TVM Solver on the calculator).

How much does the person pay the loan company during the 10 years under option A?

Under Option B: After 10 years of making monthly payments of $ 300.68 at 7.8% compounded monthly at the end of each compounding period, find the future value.

How much does the person pay the loan company during the 10 years under Option B?

Best answer:

Answer by Riana danielle Mercado
yo sup wew

What do you think? Answer below!

home loans calculator
Question by Jessica: First time home buyers what steps to take?
So my husband and i are currently looking into buying a home. We are now puttin away 400 and some dollars a month on a crappy apartment that isnt even worth 200. ANYWAY the house we are looking at is only 59,500 for a newly remodled 3 bedroom home in a very small town. the site i was looking at on had a calculator on to see what a ball park range of the monthly payment would be and it was way cheaper then wat we are paying now!! We need to know of any LEGIT sites that help you with loans downpayments etc. and what steps to go by on getting this house. we live in iowa if that matters.
now with a FHA loan can you buy any house you would like or does it have to be a special one?

Best answer:

Answer by brandonbroker
All of the downpayment assistance programs are gone ass of a couple months ago. FHA only requires 3% down and the seller can include closing costs. FHA rates are about 5.5% so if your estimating your payment that info will help.

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home loans calculator
Question by newmommyjan22nd: Tips for buying first home any advice?
We are looking into buying our first home. We are working with a mortgage company. Should we apply for more than one? How do we know we are getting the best rates? Should we go ahead and buy without a down payment? We just finished college and are looking ot moving closer to where we are going to be working…it looks like we qualify for a loan, but are unsure how much we can afford. According to the calculators that many of the sites have we can’t afford as much as many of the houses are going for…but we are very good with our money and I think we can pay out 1/3 of our income if not more…any thoughts, thanks.

Best answer:

Answer by Don H
Buying a house is a big step; my first question would be, do you really believe that you can pay out 1/3 of your income? I would never never advise anyone to attempt that percentage of their income. This will leave you no safety net, no money for unexpected bills. You need to have something set aside for the unexpected; and with 1/3 going into your mortgage payments you could get into trouble. I do not know if you have children, or are planning children. But one unexpected child will change your finances enormously. No one really should go over 25%. If you can wait, and save up more money and put a bigger down payment on a house, you will not have to overcommit yourselves. And don’t think that your first house has to be a mansion; consider a “fixer-upper.” A little sweat can save you a lot of money. Good luck, and don’t be in a hurry to buy that house!

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home loans calculator
Question by hookahhead43228: First time home buyer… Best Loan?
My fiancee and I are deciding to buy a home basically because we pay 975 a month for a 1 bedroom apartment in Virginia. We are sick of spending that much money on something we will never own and feel like we are thrwoing it away and could be investing in something like a home. The only thing is that realty is really expensive in VA and we are not in the position to move out of the state. I go to school here for nursing and he just relocated here for his job (not military). I work only part time and make just a little over 700 a week after taxes and he makes a little over 2300 a week after taxes. We are looking at homes in the nicer parts of Norfolk, which is VERY limited!!!! We we interested in buying a home last year and got pre-qualified and was told we we pre qualified for somewhere in the 180,000 range. But then I was working full time makeing about 1200 a week and he was making 2300.

For some reason he seems to think that we still qualify for 180,000 range and has been looking all over for homes in that range, but I don’t think we do. I have done the mortgage calculators and it says we qualify for like 150,000… but that will get you nothing now a days.

We lost contact with the person who we got pre qualified with last year, and we met her through a friend that we lost contact with, so we are on our own and don’t know what the hell to do first!!!! He seems to think that if we buy a home for 180,000 that our mortgage payment will only be around 900-1000 a month (30 yrs.) but I think he is sadly mistaken and any time I try to tell him this is causes a HUGE fight. There is no way that we are gouing to get a home for 180,000 and only pay 1000 a month for a mortgage… maybe I am wrong?

He thinks that the first time home buyers program will cover all closing costs and things like that, and also is planning to only put down like 5,000… and still only pay 1000 a month on a 180,000 mortgage note!!!!

What loan should I get that would have the best rate and one that will not require me to put a bunch of money down??? Who should I go through?
Sorry all!!! I meant a 700 a month and 2300 a month!

Best answer:

Answer by ranger_co_1_75
FHA has some good first time home owner programs with reduced down payments and lower interest rates.

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home loans calculator
Question by tygger: Is this mortgage calculator accurate???
I found this mortgage calculator provided by a home builder. This one not only includes Principle and Interest, it also appears to include Taxes and Insurance (although, not sure how accurate).

In the link, click up top on “How much can I afford” and select “Find out how much my monthly payment would be.” And select your state.

http://www.mihomes.com/

Please tell me if this is pretty accurate. It doesn’t add in PMI, instead it breaks it out to two mortgages, 80/20 maybe? But it doesnt tell you what the rate is on the second mortgage.

I’m just trying to figure some things out before I have my credit checked and speak to a loan officer.

Thanks

Best answer:

Answer by V Theriault
Great question!
1. Defiantly take into account for Closing Costs.
(If Purchasing: A Home)
When making your contract with the seller or with a trusted Realtor; request a 6% seller concession,
and that will assistance a huge part of your closing costs, if not all.
Example:
Home cost: 250K
Seller pays 6% towards closing = $ 15,000 paid for by the seller at closing…
2. Yes, as far as the 80/20…Mortgage Calculators give you a somewhat fair idea of what the payment will be or an estimated average rate for a second mortgage. But it all depends on where you are with your credit rating, how much the second mortgage is, etc…
3. I would give the Mortgage Calculators a 6 out of a 10 on reliability…Definitely talk to a Loan Officer and get exact figures…
Most banks and lenders give a Free Application.

I hope this was helpful!

Regards,
FinanceYourWay.com

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home loans calculator
Question by Dobey: First time home owner?
I want to purchase my first home but have several questions:

-I am willing to put $ 50,000 down upfront
-Make $ 3,000 p/month payments

Hypathetically lets say a
30-year loan
5% interest
2500 taxes

Now lets do the math

$ 3,000 x 12 months = $ 36,000
12 months x 30 years = $ 1,080,000 – total payments
$ 1,080,000 – ($ 2,500 prop taxes x 30 years = $ 75,000) = $ 1,005,000
$ 1,005,000 x 5% interest + $ 50,250

$ 1,005,000 – $ 50,250 = $ 954,750

However whenever I put these details into a “how much home I can afford calculator” it always come up with a number somewhere around $ 500,000.

Please explain. Thank you.
3,000 is only 1/3 of my income.

Best answer:

Answer by eyJude
FIRST CALCULATE how much money you need to LIVE ON..
THEN CALCULATE how much house you can buy with what is left.

don’t forget about maintenance / upgrades etc. all of this factors in.
after all paying for a house and then having no money to pay for utilities or gas for your car / food to eat is how people loose them!

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