Will you choose variable or fixed home loan?
At this time of financial crisis and interest rate on the decline, would you lock it for 5.75% or go variable for 5.95%?
Rates are a bit lower here in the US, however, generally it makes more sense to lock in the rate if you plan to own the property over the longer term. If you're confident your turning the property over in the next year or two, then you can make an argument for the variable rate.
My financial advisor suggested me to go with variable at the moment and wait few months and can still changed to fixed rate when it goes more low.
I would tend to disagree. There are no guarantees rates will go much lower since rate are a historic levels. Additionally there can be new expenses attached to the issuance of a new loan all over again. But you have to do what you think is correct.
Thank you for the feedback. I hope our financial advisor is not keeping us in dark.
Probably just disagrees...But find out if he is compensated for the home loan or mortgage in anyway.
He gets $2800+ one time commission and 0-0.35% based on our loan for the rest of the loan life and that's 30 years. it was written in bank papers.
Well I hate to say it but that's not likely to generate an unbiased opinion. It sound like he is a mortgage broker and not a Financial Advisor. And it sounds like he just wants to write two loans and get paid twice. Thats a big cut to get paid.
by Walter A lawson 8 years ago
need a statement for home loan
by passion dad 7 years ago
can i get a va home loan for a place outside of the usa?yes i like to know if i can get a va loan but buy a house outside of the usa due to my medical condition suffered in the iraq war my doctor told me it would be best for my condition.
by elmo0203 7 years ago
I am trying to find the investor of my home loan. i am trying to find out if either mac is...the investor on my home loan. do youto
by Bob needs help 22 months ago
I am over and under on my home loan.I owe more for my home than what it is worth with an adjustable rate morgage up in June. No one will refinance us because we have no equity in are home. I am tring to get a loan for a new home which is very likely. Is that a good idea I will have to walk away...
by Ralph Deeds 8 years ago
I just refinanced my home mortgage today--4% for 15 years. Closing costs around $1,900. This is the lowest interest rate in 50 or so years.
by lgyjwill 8 years ago
I have a variable life insurance. I took out a loan of $6,700.00 on 04-27-09. I received a...notice in the mail that there was a loan of $224.91 made to pay the interest on the loan. I did not authorize this. It also appears that my premium is going up from $114.04 per month to $1,368.48 per month....
Copyright © 2018 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|