Residential and commercial mortgages [10to5mortgage.blogspot.com]
Residential mortgage rates continue to redefine how low is low. In the most recently published mortgage rate survey the bellwether 30 year Fixed Rate averaged ... Mortgage Rates Keep Falling
www.DelawareMortgageLoans.net - Delaware mortgage rate weekly update for week of June 18, 2012 from John R. Thomas with Primary Residential Mortgage in Newark, Delaware. Delaware mortgage rates are once again at all time historic lows. Now is the best time to refinance or purchase a home in Delaware. John R. Thomas Certified Mortgage Planner - NMLS 38783 Primary Residential Mortgage, Inc. 248 E Chestnut Hill Rd Newark, DE 19713 302-703-0727 Office Apply Online at http Free Delaware First Time Home Buyer Seminar - www.DelawareHomeBuyerSeminar.com Free Maryland First Time Home Buyer Seminar - http
mortgage-assumption.blogspot.com Delaware Mortgage Rates Weekly Update - June 18 2012.mp4
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A commercial mortgage is a loan where a property occupied by a borrower other than a residential property as collateral is provided to secure the payment of interest and principal payments, or just the interest. In the case of commercial mortgages, the deposit is usually a commercial building, an office, a store or other retail properties.
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These mortgages are usually the companies that made money the need for working capital, purchasing new equipment, or even an extension. And because a company can be formulated as a partnership or limited liability company, to assess the creditworthiness of a company by a financial institution is more complex.
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The residential mortgage loan rates differ from the commercial and the prices are usually higher for commercial mortgages and this is due to the risk of residential mortgages and the default percentage is lower compared to commercial mortgages are linked.
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Mortgages can also be either a fixed-rate mortgage or adjustable rate mortgages are classified.
Both can be purchased for private and commercial mortgages. The adjustable rate mortgage initial interest rate is usually lower than the fixed rate mortgage interest rate.Â
The Federal Reserve Board regulates primarily mortgage rates and if the board changes the interest rates that mortgage lenders should then adjust their rates accordingly.
They are also influenced by economic and market factors such as inflation.Lower rates can also be used in situations where you only pay 20% deposit or more of the loan amount, but if you have a down payment of 5% or less of the loan amount, you may be able to qualify for a higher interest rate loans.
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Mortgage loan rates usually somewhere between 5 and 13%. Long-term loans have slightly higher interest rates than short-term loans and the difference is usually less than 1%. Loan rates also differ with mortgage loan types, such as FHA loans, VA loans, commercial loans, home equity loans, home improvement loans, and bad credit / sub prime mortgages.
Suggest Residential and commercial mortgages ArticlesQuestion by sqm89805: Can I get away signing up to a residential mortgage for a property that I intend to rent out (UK)? Hi, Can I get away signing up to a residential mortgage for a property that I intend to rent out as Buy to Let? This is intended for the UK. To simply put it, the rates for standard residential mortgages are better than those that are buy to let. The big question is, is it easy to get away with! Any help would be appreciated. Thanks SQM. Best answer for Can I get away signing up to a residential mortgage for a property that I intend to rent out (UK)?:
Answer by know-it-all
You may get away for a little while, but as soon as they find out, not only will they call the loan due immediately, they may also charge you with mortgage fraud, in which case the Government will pay your rent for some time. ( In jail)
Answer by David M
The operative words here are "get away with it". If your intention is to rent this out with no intention to occupy the property what you are proposing is fraud. By committing fraud, not only can they come after you for the money (mainly the difference between what you will be paying in interest and what you should have paid) they can also put you in jail. Can you get away with it? Maybe. If you don't and the prison you end up in has internet access, please let us know how your little sheme worked.
Answer by Doctor Deth
if you already own a house that you live in, you may have to prove you have a buyer for that or they won;t believe you
Answer by senna4487
As others have mentioned, if you already own a home and don't plan on selling it- then you won't be able to finance this home as an owner occupied property in the first place. If you rent currently and plan on buying this property only to rent it-then like the others said-you would basically be committing fraud-and you may either be penalized or the lender may call the loan due and payable. However, right now, banks, if they are collecting monthly mortgage checks- don't care if you are running a meth lab out of your house- as long as you are not foreclosing. If they called the loan due and payable and you can't pay it- guess what- they have fun foreclosure on their books- and certainly a loss when they try and sell the place. So you may be ok. Plenty of people buy homes live and them- move into a nicer place- and rent their current place. Nothing illegal about it. There loan is not called - and they are free to rent it out. So there is always that. Alternatively, if you can put a little more down, finance the property as an investment, and your rate won't be all that different.
