When to Sell and Buy a Move-Up Home! » Mortgage Masters Group

When Buy-Ups Make Sense. Again, using the example above, the original mortgage rate of 4.5 percent yields a monthly payment of about $507. With the 2.5-point buy-up, that monthly rate jumps more than 7 percent, to $544. To come out ahead, the buyer would need to sell the house or refinance within the first six years.

If you plan to sell your home and buy another, which should you do first? If you sell first, you’ll be under time pressure to find another house quickly — and may end up settling for less than you wanted, overpaying, or stuffing yourself and all your possessions into a hotel room until you can buy a new place.

Since home prices no longer defy gravity, the only real way to profit on a flip is to find a distressed property at a fire-sale price and quickly make improvements that add value. Then, pray for a.

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She could sell her home to move into a better school district, but that will cost an extra $250,000. Should she continue with private school or move? ANSWER: The good news is if you move to where you like the high school and you move up in house, you get your money back when you sell. If you stay where you are and you spend the money on private.

Will your record-low mortgage rate from your recent refinance keep you from selling — or buying the home of your dreams? Record-low mortgage rates When the Federal Reserved announced their plan to pressure mortgage rates lower on Nov. 25, 2008, rates for 30-year fixed-rate mortgages were well over 6 percent.

. to know certain particulars about your home buyer, such as her own mortgage lender. However, federal law prohibits lenders from considering race, sex or other characteristics when it comes to.

At that time, the median home price in Sacramento County had plummeted to $155,000, about half its current level. institutional investors such as Wall Street’s Blackstone Group. to move up to.

15-Year, 20-Year, and 30-Year Fixed-Rate Mortgages The questions about a mortgage are relatively easy: Should I get a 15-year or 30-year mortgage? Should I prepay my mortgage? I would have to say if you currently own a home or are looking to buy, get a 30-year fixed mortgage. At least at this current time in history, getting a 15-year mortgage or prepaying any 30-year mortgage is foolish.

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