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Housing Loans Knowledge Base
difference amortized housing loans and refinancing of arrears housing loans, what is the principles behind? my housing loans is for 30 year amortized monthly. arrear for several months and want to restructure loan. what is the best options. Difference between amortized housing loans and re-financing of default housing loans?
Did housing market affect private student loans? I saw that many private student loan compaies stopped offering student loans to 2 year colleges and some got out of the market all together. Is this directly related to the housing crisis? If so, then why not also bail people out of their massive student loan debt if they're gonna help people with their houses? I don't see how it's anyone elses fault other than the people who got the housing loans. I couldn't figure out what section this question belonged in so I made an educated guess.
Are there any kind of housing loans for the disabled? I was wondering if anyone can tell me if there are any low interest housing loans for disabled people? If so, who would I talk to about it?
Can I claim exemption on the HRA as well as the interest paid on housing loans at the same time? Can I claim exemption on the HRA as well as the interest paid on housing loans at the same time?
How to identify the best interest rate for housing loans? Recently we have planned to take a housing finance loan but are more confused about the different interest calculations offered by different banks... One of my friends suggests that its always better to go for nationalized banks even though the service will not be as good as private banks but we can be sure of less interest rates since there will be no hidden costs. How do the banks calculate the interest rates (EMI) and the repayment period? Are these private banks reliable? Please suggest in this regard....
Income tax saving from two different housing loans for two different properties? I have purchased a flat in 2004 and i am claiming for rebate since then in my income tax for hosuing prinicipal and interest component. Recently in 2008 i purchased another flat with a new housing loan. Does the interest component of second flat also be considered for tax exemption including the earlier one? Please clarify. Thanks Sandeep
What is the tax exemption, if one buys two flats by taking housing loans.? am having my own house at Thane ( Maharashtra ) & I am residing presently there. I have taken a home loan for this house & availing tax benefits wrt interest & principal componenets. I am planning to buy another house at my native place ( in MP) after taking another loan. After purchasing, I am planning to rent this house. My query is a) whether I can avail the tax benefits against this loan along with previous loan. b) If yes, then how much.
can we get interest only housing loans in india ? i;m planning to by a rental residential property in india in about next 12 to 15 months. Do the indian banks provide rent only home loans ? Rent only loans may help in increasing the loan eligibility.
What is the connection between slowing housing market and loans with the stock market? How come the loans on housing is affecting the stock market, what the main connection there? Thanks!
housing loans for disable low income with bad credit? I'm trying to find a housing loan. I am on social security disabilty and I have bad credit. MSHDA has already turmed me down because of my credit.
What are the differences between car loans and housing loans? The differences in terms of all aspects
How exactly do Section 502 Rural Housing Loans subsidize a monthly mortgage payment? Im looking into obtaining a section 502 rural housing loan from the USDA for low-income people. I have researched some of the usda's info but cant find answers to my specific questions. My questions involves the repayment ratio, amount of mortgage financed, and subsidy. From what I understand, the income and debt of the household is used to determine the amount of the mortgage that the program gives to you - so that the mortgage, taxes, insurance, and interest will be no greater than 30% of the total income. What is confusing me is this: first, I dont understand where the subsidy comes in - does the govt subsidize the payment so that it will be less than 30% of income, or are you only allowed to buy a home if the payment is 30% of income. Second, using 30% of my total household income towards a mortgagae payment would never let me buy a home in my area, where the cheapest house costs $300,000. So can someone please clarify these questions and the program basics. Thanks!!
What are some helpful sites to find student loans for school & housing? I don't expect to get very much from FASFA, since my mom & stepdad make a lot of money, but since I pay for my own school & housing, I am going to need a student loan. Does anyone have any suggestions on where to find student loans for school & housing?
income tax benifits on multiple housing loans? hi, i had take two housing loans for the same property (one for purchase and another for rennovation). can i get tax benifits on both the loans (the principal component for both put together is around 50000 and interest is around 75000). regards Rajanish C
Can I use student loans for my off campus housing? The college I'm currently going to doesn't offer housing. Can I use part of my student loans to pay my rent because I want to still be able to go to school there.
i want to get lists of government offices that grants developmental loans for housing construction in phils? i want to develop and construct housing units but i have no available funds this is the reason why i want to get all government offices in the philippines who will extend housing loan assistance to my said project.
Are you able to spend the loans that you get for school on housing that is off-campus? Next year, I am planning on living off campus. However, i dont have enough money to afford that even though I work. i am going to get a loan from astrive or some place like that and I was wondering if those are the loans you can only spend on tuition or do they apply for off campus housing also?
Which bank is best for housing loans? We are looking for housing loans
Will the defaults in subprime loans have an effect on the entire housing market ? Will it be regionalized? The indicators showing the increased default in subprime loans had a significantly negetive effect on the stock market yesterday. Speaking to the housing market, the results will be 2 fold. 1. Those who are not able to make payments will be forced to sell their houses to cash in on any equity theyve accumulated in the recent (5yr) run up in hosuing prices 2. Those who cannot sell will default and the banks will take the home into forclosure and sell the homes. Either way what you are going to have is more homes for sale which by the simplist supply and demand economics will drive down prices. The obvious answer is downward price pressure will mean a further fall in housing prices, however these are only subprime loans taht are defaulting. I would assume those with subprime loans would be for homes in lower-mid income areas. Does this mean that homes in upper mid-high income areas will reletively have more stability in terms of pricing pressure, thus a better time to buy?
What are the requirments for the Seller when the buyer wants to use a rural housing loan or an FHA loan? I know with an FHA loan the seller is required to pay for certain things what are they and also what are the things that a seller is required to pay when the buyer wants to us a rural housing loan? Are there any special requirments that the seller is required to do for the house to qualify for these loans...especially if it is a newly built home?
Manufactured Housing Loans ? I am looking for a reputable company in Ellis or Tarrant county Texas that does manufactured housing loans. I don't want a dozen people running my credit as it lowers your score.
Are interest rates on car loans up or down right? Housing market loans? What is about average rate for a loan these days?
Housing loans by banks - finance question? Originally, commercial banks both originated and funded housing loans. Nowadays, banks can orginate (but not fund) housing loans and vice versa. How can banks perform these tasks? My guess is that bank can issue securities to raise funds for housing loans.
Are there any student loans for off campus housing? I am getting an apartment for my senior year of college, but need a loan to pay for it. Most loan companies I have looked at seem to determine the amount they give you through contacting the school, which obviously won't help me. I was wondering if there is anyway to get a student loan to cover the apartment rental, as opposed to having to get a personal loan? Thanks!
Do student loans cover the cost of on-campus housing? I go to a community college right now, and my husband is wanting to go back to school, and I am transferring to Wright State University. They have on-campus housing for married couples, and I was wondering if the government student loans I receive will cover the cost while we are in school. This would be the only way we could both go to school, since we would not be able to work full time., If anyone knows how this works please let me know. btw, private student loans(from the bank) are out of the question.
Can i claim the tax deduction on interest of housing loan for a property purchased abroad? I availed a loan in the foreign country and purchased a property in a foreign country . Will i be able to claim deduction on the interest of the housing loan in USA?
Housing Loans for single parents? I was told that there are some programs available for single parents that help with credit forgiveness and loans for homes. Grants and the otherwise.... Does anyone know how to go about getting involved in something of this matter? I have a 2 year old and currently pay 565.00 in rent.
How does the economy will look like if Merchant Banks in a country no longer provide housing loan? just wondering how is a country economy look like if bankers no longer offer housing loan, business loan and etc. to the public. as far as i know banker are also in business minded, they earn profit from the interest of loan. if banker no longer offer loan, would that means the country's economy status is in a big trouble? pls answer my question. thanks
income tax on housing loans? I have availed gold loans and personal loans for the specific purpose of housing from banks. let me know whether the interst charged by the banks are eligible for deduction under 80 c or any other clause . pl advise me
I want to know if I should restructure my housing loan from 15 to 5 years? I'm from the Philippines and I want to understand the mechanics of a housing loan which is quite diff in the US. I have a 15 yr loan with a bank but my salary is quite enough to cover the monthly amortization if I restructure it to 5 years. Should I restructure or just maintain the 15 yrs and then save money and pay off some of the principal every yr? I'm on my 3rd yr of payment now and I feel that it's taking so slow! I need some advice. Also, what fees should I take into consideration if in case I do restructure?
To sell the house and close a housing loan? Do we need to tell the bank that how much we are selling the house? Since the Bank will have the original document, will the people from bank will ask about the selling price also or it is just pay the remaining loan amount and close.
How about taking Housing loan from LIC Housing Finance? Can anyone suggest taking Housing Loan from LIC Housing Finance.I am taking a loan of Rs. 23 lacs on 11.25 floating rate of interest. Would I need to go for fixed or floating income rate? Can any body suggest how is it? would you recomend anybody to LIC Housing Finance? if yes-why? & if no - why? Any body has any experience with LIC Housing Finance - please share this would be a great help for me.
USGA housing loans? I need to find out the guidelines and criteria for a USGA housing loan to buy a house
How much tax can you save if i take a housing loan of 25 lakhs and have already made a investment of 1 lakh.? How much tax can you save if i take a housing loan of 25 lakhs and have already made a investment of 1 lakh. My current CTC is around 6.5 lakhs
How come the US housing mortages affects stock markets around the world? Last week stock markets around the world crashed due to reduced spending on the US mortage loans.Can someone tell me how the economy of many countries aroun the world was affected by US housing loans?
where and how to show housing loan principan and interest components in ITR-1 (Income Tax Return) ? There is no column for showing the principal or interest paid for repayment of housing loan, so, where and how do I show it? (My form 16 directly deducts it from my income) pls guide.
Fannie Mae Housing Loans? Today President Bush signed the mortgage relief bill, in order to head off 400,000 people who are having trouble making their mortgage payments and facing foreclosure The bill allows for trading their loans for new, more affordable mortgages through the Federal Housing Administration and temporary financial lifeline to troubled mortgage companies Fannie Mae and Freddie Mac. With the number mentioned, one would think troubled home owner's are going to be all over Fannie Mae and Freddie Mac like white on rice. Will the program cause these two agencies stock to rise? If the government is doing this somebody is going to make money off the program. Who? I'd like to take hold of that shooting star and make a little money. Suggestions?
Can you get a housing loan that cost more than the actual house to payoff credit cards? I have like 6000.00 in credit cards was 13000.00 but I have been paying everything I can on these 4 cards. There also cut up. But can you ask for a loan more than what the house is for, and pay your cards off.
Housing Loan for house under construction and HRA exemption? Hi, I have availed a housing loan for an apartment that is under construction. The possession is due in March '09. While it's being constructed, I'm staying in a rented accomodation. My question is that - since possession is due within current financial year - can I claim both HRA and Housing Loan Interest for tax exemption for this year?
Do they have school loans that pay for school and housing? I want to go to college and I dont want to stay in dorms. Is there a way I can get a school loan that would pay for an apartment and bills and also school, since I would not be able to work if im going full time? I also have little credit and what I do have is bad. My parents would probably co sign though
Are there any types of /grants/loans that students in a community college could apply for? (for housing)? My cousin wants to move down to Virginia from up north, and wants to go to a school called Tidewater Community College. Of course the school doesn't have on-campus housing. Are there any scholarships/grants/loans out there that can assist with housing for a student that can't live on campus?
Remedies to Tenant problems in Bank Housing loan defaulted flat? I have paid interest free advance and occupied a Flat. One Year back,a Bank claims that owner defaulted in housing loan and they taking deemed possession of the property. Now asked me to vacate the property. In the meen time owner of the property loss his life in a fatal road accident. what proceduere to be adopted to get the money paid by me and to stay in the flat till my claims are settled.
Am I eligible for housing loan rebate for construction loan but the property is owned by my father? My father is a senior citizen and he owns the property can I take housing loan to construct a new house and also avail tax rebate
do i have to claim my student loans to my land lord to live in low income housing.? i live in low income and my land lord is trying to find all kind of ways to mess with me. telling me that i have to claim the money i get for student loans as income so i will have to pay more rent is that true. i don't see why i would have to claim something i have to pay back and there for be paying double. makes no since to me.
The question i i am posing is abt Housing loans.? Lest's say i have an "X" Amount as Housing loan, against Land purchase, i am unable to get IT excemption from my company as it is loan taken for purchase of a PLOT & not for Construction, though i am paying regular intrest monthly for it, Will it help me if i take an Top Up on existing loan stating for construction shortly, will i be benifitted fot the total amt , My question now here is will my entire loan ( Old Loan Amt + Top up Amt) be converted & considered into for excemption under housing loan category or will i get benifited for IT purpose only for the top up amt taken for construction.. pls advise .
Do banks in India grant housing loans to retired folks ,who no longer receive a regular salary? Let's say that I am retired ,and have no other regular source of income other than a monthly return from my Mutual funds under a Systematic Withdrawal Plan ,and monthly interest from my Fixed Deposits. Can I hope to secure a Housing loan . Also ,which bank in your opinion offers the best options here. Fixed rate versus floating rate of interest - Which route is recommended? Thanks.
Can I have two housing loans and claim benefits? Hi All, I am a salaried employee and has a home which is self occupied. I dont stay in the city where my house is. I intend to take another house, again in the city where I dont live. Will banks give me loan for second house? Can I add up interest component of EMI of both the houses and claim full deduction from my taxabale income? Here I undertsand that principle cannot be claimed more than 1 lac. Correct me if I am wrong? Last can banks extend the tenure of the existing homeloan, so that monthly EMI goes down? Second house is an investment to generate rental income. The setup is in India.
Student Loans: Housing? I'm moving to California next summer for school- I was wondering if anyone knew of a student loan (federal or private- I really don't know the difference or which is better) that would help pay for off campus housing... If you do know of one, how does this work? Would they give me a check to give to my roommate or give me the money? Thanks for the help! :)
New Income Tax return for employees having loss due to interest on housing loans? Can employees new income tax returns in ITR1 & ITR 2 be filed by the employers directly on line . If yes, Then how the interest income which is taxable will be shown and how these returns be signed by the assessee? any clearifications
Student Loans for Housing? I go to the University of Memphis and I have a full scholarship that pays for my entire tuition and dorm. Then, I have the HOPE TN Lottery Scholarships which is $4000/yr and pays for my meal plan (about $630/semester). I don't want to live in the dorm the rest of my undergrad years, but free is nice. Would it be wise to take out a student loan so I can live off campus in either an apartment or house with my friend? And how hard are student loans to pay back? I've come this far without having to take one out and I'm not really sure I want to. I forgot to mention that the scholarship I have is different from others. It only covers the cost of tuition and the dorm, but not the meal plan. And I do get a refund from excess scholarship money, but if I leave the dorm, then I will not get the extra housing money that goes towards the dorm.
Does anyone know about Government loans? housing , people on disability? I'm on S.S.Disabilty. I need to find a place to live. I need some help getting in touch with the right office for a Grant or HUD. Anything that can help. If ANYONE knows anything about this PLEASE help me. Thanks, Mike
Parent Plus Loans For Off-Campus Housing? Can Parent Plus Loans be used for off campus housing? I know Stafford and Student Loans can be, but can Parent Plus Loans be used this way? Also if they can can you please post a URL with this information so I can show my parents the site. Thanks!
Can student loans be used for housing, food, fun stuff etc? I was wondering if student loans can be used for purposes other than tuition? Is the money wired directly to the school, or can I use it for food, clothes, housing? if I use it for these things, is it tax deferrable? I meant leftover cash AFTER I pay tuition. I mean, come on, who is stupid enough to pay for school last? LOL
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Are pay-day loans "exacerbating" the housing crisis......? any more than banks overdraft fees at $38.00 for going over even .01? and the additional five day in the negative fee of $32.00 because you didn't receive the letter telling you the fourth customer service call you make in a month (despite the ineptitude of the customer service clerks) is not free, and the unexpected $4.50 for speaking to a brain abused customer service associate traumatized from a previous life put you in the red? Why aren't banks being scrutinized for gouging the people? All the people? To the point bankers are trying to pass legislation to shut their competition down? Their competition being pay-day loan centers?
Should I buy a house and pay off my college loans with the house loan? I currently owe about $50,000 for college (will graduate on May 10th, 2008, as an elementary school teacher). I was wondering if it would be a smart idea to buy a house and take out an extra $50,000 or so and pay off my college loans. My college loans are going to be about $500 a month and my rent is going to be about $600 a month. The interest on my private loan is a whopping 12%. With the housing market being so low I was wondering if it was a good time to do that? I figure I could have one payment of like $800 and start working on owning a home. Is this a good idea?
i got 25 years amortized social housing loans, restructured , terms not yet expire, but subject for refinance terms of 25 years loans has not yet expire, but the restructured portions was up for private company refinancing on higher loan value. question, it is possible, and what is the principle behind this scheme? what is the terms for this turn over to a financing company?
My new house half done.All money finished.difficult for loans Cannot give up the project also.What shall I do? first I got a housing loan.now my income range is not sufficient to borrow another loans.
a friend of mine has unpaid housing loan and is in arrears, but want to update account for possible payment? housing loan for update, and minimum payment to the current arrears, and amortized remaing loans balance
Student Loans for Summer Off Campus Housing? Possible? Ok so im in a financial pickle...my friend has an apartment im moving into for next year in college(sophmore) and i don't have a lot of cash so i am wondering if i can get student loans to take out right now to live off-campus during the summer then help me with school in the fall...its a tricky situation
Will med school loans cover cost of living (housing, spending money, etc?)? I am hopefully going to be starting med school next fall, and i wanted to find out if there is a way to use the loans to pay for a condo or apartment (preferably a condo).
Why go to college ? Repay student loans, deal with admin and housing.? Why not just join the Army, learn a skill then finish your contract and go make a $100 K in an overseas contract somewhere ? I mean what the heck, do you all enjoy repaying them student loans and dealing with all that BS ? Oh people, its my choice to be here and I do plan on staying for a bit. I'm not left, right, left, righting it over here. Its more like, what shall I watch next. Thank you Mr and Mrs Taxpayer.
house and personal loans? Currently I have a house loan and a few other debits personal loan, tool card, computer loan and a credit card and I would like to roll them all into one or two loans, either one house loan or a house loan and personal loan. Would anyone have any idea to which would be the best way to work this? My debits beside my house loan are around $15000. The reason I am doing this is they are costing too much money and have now realized that I should have saved for these items not just get a loan.
Which Banks offers housing loan at lowest rate for mhada house in mumbai.. pl help? i want to buy a property at gorai mumbai which is a mhada house. i will need housing loan for that and want to know which bank or institute offers housing loan on mhada property at cheapest rate of interest. i m salaried person and have all related documents to apply for housing loan.
Housing Loan? If i use the Housing loan amount for buying/constructing a house in the joint name of me and my wife, can i claim full tax relief ? My wife is not working and she is a house wife
refunding housing loan in advance? Is it legal refunding housing loan in advance in the USA? ie. I get a housing loan from bank for 30,000$, 30 years, but after 5years I pay all 30,000and interest ...is it legal according to USA's law? THX
I sold my house and repaid the housing loan and purchased new plot with balance amount.how to claim IT returns I have repaid my housing loan and sold my house. I purchased new plot to construct new house in next financial year. Can I get exemption for principal amount that I had repaid? Can I get exemption for the excess amount i gained in selling the house because i am going to use that amount for constructing new house in which i am going to stay? Should I show all these transactions in f.no.16 that will be issued by my employer?
Quicken Loans - House Loans? Does anyone have any info on how good/bad quickenloans is for house loans....we have been talking to them about getting one but not sure if this would be the right direction or not....would i be better just to go thru our bank?....please any info will help
Housing loan formula? How are the installments to a housing loan calculated?is there a formula used? If so, what is it?
Income Tax rebate on Housing Loan? I'm a salaried employee working at Bangalore, and I'm constructing a house in Kerala, on a property owned by my mother (she is dependent on me). I'm planning to take a housing loan for completion of the construction work. I have 3 doubts regarding tax rebate. 1.) Am I eligible for income tax rebate for repayment of housing loan? 2.) Can I avail the rebate before the construction ends, during the repayment period? 3.) Is there a problem in availing the rebate as the plot is owned by my mother and not by me?. Thanks in advance for the replies.
Can we pay the housing loan with long term capital gain? We bought a house in Sept 2003, for which we took a housing loan. We bought a plot in June 2004, which we want to sell it now. If we use the capital gain from the plot to pay the existing housing loan do we still need to pay the taxes? Please explain Thanks
can HRA and Housing Loan can be given in tax declaration form? Hi all,, I am having a housing loan in Visakhapatnam and I am now living in Banglore as i was sent on project by my parent company which is in visakhapatnam..They are telling that i can claim only either HRA or the Housing Loan ..I want to know as i am living in two different places can i claim the both or else i have to claim either only one of them.. Thanks in advance Hi raghav Thanks for the details...The house was self occupied one... Thank you all for your valuble suggestions and experinces..they want me to choose any one of them and as per my CA i am now going with HRA later i will claim my House loan in returns...
pag ibig housing loan, anyone??? im interested in getting a housing loan and i need to know how much i can loan, is there a way to compute this myself?? any idea?
Tax Exemption on Housing Loan? My father has a property. I am going for housing loan. The bank is saying that my father will be a principal borrower and I will be the secondary borrower. In case if I take the housing loan, can I claim the tax exemption?
who is the one that lowered the interest rate for mortgage loans that made the housing costs go up? but was it inspired by bush
Refinance Housing Loan? when should i refinance my housing loan?
U.S. housing loan problem? The talk has been continuing for months, I juz wonder if the americans are realli hving prob or juz major investors & financial instituion trying to take advantage of this rumour. It seems like ppl have concern on housing loan problem & it may hv major impact on world stock markt. So, juz want to hear some feedback from Americans.
Inquiry on how to make a housing loan? Our office is a member of a government financing office.we have this a certain amount of contribution every month as a member.I am requesting our office to allow me to have a bigger contri so as to have a chance of getting a bigger amount of loan.Please help me in making a letter on how i could inquire about their housing loan.And how many months before i could have that loan?and if that loan is also applicable if im going to pay it off with a pawned land?(i don't know if that's the correct term,if not pls correct me).tnx
i will get income tax deduction on housing loan principal amount paid or net interesi paid on housing loan ? suppose i take housing loan for rs 100000.00. now i pay principal amount to bank plus interest amount. now i will get rebate in income tax on principal amount paid or interest amount paid.
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