admin — Fri, 27 Jan 2012 17:27:57 +0000

1)I am planning to buy a new home for the first time . What expenses(payment) would be added to my home mortgage like home insurance, mortgage insurance etc?
2)How can I lower my monthly mortgage? Some of my friends told that I have to pay at least 20% down payment rather than paying those amount after one year or so to lower monthly mortgage .
Thanking in advance.

admin — Thu, 01 Dec 2011 01:17:38 +0000

Ok so the loan department took money out of my checking account about 700 dollars that i couldnt spare.
Well i wanted to know is it illegal for the loan department to take money out of my checking account if i owe them money for three loans?
Well some of my friends say its not and im undecided.
Were going to my bank tommorow to straighten this out but i needed to know some information to back my theory up.
By the way i live in Georgia.
Thanks!

admin — Thu, 01 Dec 2011 00:53:36 +0000

Im 25, I am in shock when i see my friends (same age, same entry level income) go out and buy 250k-300k houses like its nothing. They dont have twenty bucks to fill up the gas tank but they can afford 250k house??? I dont want to be in their position where 90% of their income goes to mortgage, without having any savings on hand. what is a proper mortgage payment/income ratio?