Second home loan rates

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Value Plus Home Equity Loan (Second Mortgage)
Term

80% TLTV* Rate

81% - 90% TLTV* Rate Closing Cost
5 Years

As low as 3.99% APR**

As low as 4.99% APR** $0^
10 Years

As low as 4.75% APR **

As low as 5.50% APR**
15 Years

As low as 5.50% APR **

As low as 6.99% APR**

Loan Example for Value Plus Home Equity Loan

APR*

Monthly Payment

$20, 000 for 60 months:

3.99%

$368

$25, 000 for 120 months:

4.75%

$262

$30, 000 for 180 months:

5.50%

$245

*TLTV = Total Loan To Value, Maximum TLTV and loan amount based on applicants credit history.
**APR = Annual Percentage Rate
^For loan amounts $20, 000 or greater, IU Credit Union pays all closing costs. For loan amounts less than $20, 000, a $150 fee will be applied to the loan and paid by the borrower. All closing cost for investment property loans or primary residence second mortgage loans closed at a title company will be paid by the borrower.

• Rates are subject to change at any time. Each individual's APR is based on the applicant's credit history. Not all applicants will qualify for the lowest rate.
• Property insurance is required.
• The Value Plus Home Equity Loan can be used for an investment property by adding 2% to the qualifying advertised rate. The maximum LTV is 70% and closing costs may be financed. Other restrictions apply.


The mortgage interest deduction

2005-10-13 19:50:10 by storeez

Not sure who all this proposal is going to affect in here, but Bush's advisors have suggested that the current 1 million dollar ceiling be dropped to about $350,000.
What this effectively means is that if your mortgage is $350,000, you still get all your deductions. But if it is 600,000, you get to deduct only the interest paid on the first $300,000. This means an increase in tax liability of major proportions for those who have large mortgages.
On the west coast here, in the Bay Area, the average home price for a place most would feel OK living in is over $600,000. Now. If this proposal goes through, even with fairly low interest rates, the people who otherwise could afford to buy no longer can do so

Can you find another 10% investment?

2013-05-18 14:31:38 by bobrogve

I'd like to get in on it.
What's the home price to median income ratio in your area?
One caveat is that the Fed is now making noises about ending QE. I don't know how much longer they'll keep interest rates low after that. They have promised not to raise rates until unemployment improves, but Bernanke will be gone next year. The new chair may be a dove too, but it's a risk nonetheless.
Interest rate hikes will depress home (and bond) prices, all else being equal

Here's better reason & does anyone long for JFK

2008-03-17 12:55:14 by LivaLittle

And the way reporters ignored his affairs? Ditto FDR and Dwight Eisenhower. Today's tabloid-ish snoopery into one's sex life needs a return to the days and ways of old.
Now, actual reasons Spitzer was outted so thoroughly:
Since Bush came to power, a new species of loan became the norm, the ‘sub-prime’ mortgage and its variants including loans with teeny “introductory” interest rates. From out of nowhere, a company called ‘Countrywide’ became America’s top mortgage lender, accounting for one in five home loans, a large chunk of these ‘sub-prime

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