Jul
26
I see how down payments affect the price of your home. But when you use the VA loan you dont have a down payment. So how does that affect the price of your home?

by Mike Licht, NotionsCapital.com
We are thinking of purchasing a house from my father. Instead of using a mortgage broker or bank, he suggested using a lawyer to set up monthly mortgage payments directly to him. We would still buy the house, and it would be in our names, not renting. How are payments like this calculated? Also, it seems this gives us flexibility and saves us money, but isn’t as secure. What are the specific down-sides to this?
Tags: Loans
It’s true.. it is not very secure method.
Not much idea but all I know is mortgage calculators c an help you?
http://www.mortgage-calc.com/
http://realestate.ozfreeonline.com/
Go thru a Title Company for the closing and have them prepare a amoritization schedule for you …..