Kelsey S asked:


If a company is taking out a loan for 60% of it’s Net Income ($27,600), and the length of the loan is 5 years with an annual interest rate of 6.25% – making 12 equal payments every year.

I have that the monthly payments would be $295 and that the total loan amount ($295*60) equals $17,714.

However, it does not seem to fit in nicely with my problem – is there some error i am making??

At the end of 2009 Ullswater Inc. intends to undertake an expansion of its facilities. To finance this expansion project, they turn to Guiyang Bank Inc. which agrees to extend a loan equal to 60% of 2009’s net income. The length of the loan is 5 years at an annual interest rate of 6.25%. Moreover, each year Ullswater Inc. will be required to make 12 equal payments on the loan.

Dorothy

Mary asked:


I have an FHA loan on a mortgage that is 33 years old. During that time, I have missed 4 payments. Will FHA help me to bring the loan payments up to date?
Excuse my math! The loan is 27 years old rather than 33. Thanks to everyone for your advice. Most of the answers have been very helpful.
nope, not 27, the winning number is 23.
Sorry about that, I am just nervous about this whole situation.

Kathy

Linda S asked:


I have a new mobile home on an acre and it is totally paid for land and all. Why can’t I get a loan on it to get a permanent foundation put under it? I was told I need a foundation to get a loan so go figure.
LR

Don

KJ asked:


I bought a lot and plan to get a house built in 5 years. I dont like the current loan, 6.25% fix rate for 3 years but interest only. Is it a good idea that I use “home equity line of credit” 4.75% at this moment to pay it off?

Sue

euphoric_anomaly asked:


I purchased my home last august for $20k cash. No loans, no mortgage etc. I was wondering, if I ever needed to borrow some money using my home as collateral, how would I know how much I have? I’ve heard some people say that because I bought my house using cash that now I have $20k in equity right off the bat. I’ve also heard that’s not true…. anybody know the correct answer ?

Micheal

queen asked:


So if you refinance, you get a fixed amount upfront, whereas home equity line offers more flexibility, I get that. Any other differences?

In terms of interest, closing costs, max loan amounts, and speed with which the loan can be obtained? Also, is home equity loan and home equity line the same thing? WA state.

Allan

Simon W asked:


Want cash in pocket after closing on a house. For repairs and other necessities

Justin

Life Coach asked:


I am currently in the market to buy a five unit multi-family property listed at $180,000. Because it is considered a commercial property I’m having a hard time finding a lender that does commercial loans under $500,000. I should be able to put 20% down by drawing equity out of another propriety so I don’t foresee there being a problem financing it. I would appreciate any suggestions.

Herman

Veronica asked:


No present mort. Some credit issues

Matthew

kristi72401 asked:


How can I get money out of my home?

Yvonne