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Are condominiums generally financed by a general mortgage on a whole building?
Wiki User
∙ 15y ago
Only by the developer. Once the unit has been sold the developer should obtain a partial release from the blanket mortgage and then the unit owner gets a mortgage on that unit only.
Wiki User
∙ 15y ago
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Where can I calculate my home mortgage payment?
Mortgage payments can be calculated by the bank the mortgage is financed through. To do this on your own, there are websites with mortgage calculators such as calculators.bankrate.com.
What Type Of Collateral Is Taken To Acquire The SBA 504 Loan?
Collateral taken to get the SBA 504 loannormally consists of a second mortgage on the land and building or a second lien on the equipment that is financed.
What banks in Ohio issue loans for condominiums that were converted from apartment buildings?
You can get the answer you want from your mortgage lender. There is no standard.
What are the mortgage rates for a condo?
Mortgage rates for a condominium will vary depending on the overall cost of the property, the down payment that is put down, and the interest rates that will apply to the loan. Although rates can be as low as 2%, interest rates for condominiums are generally higher than for single-family homes.
How can you find out how much is owed on your mortgage?
call the place where you got it financed at and they can tell you
What is mortgage in personal finance terms?
In personal finance terms a mortgage is usually called a long term loan in order to buy a home or perhaps an office building. Generally speaking, a bank will grant mortgages to individuals.
What is Mortgage Foundation's motto?
The motto of Mortgage Foundation is 'Building your financial foundation'.
How many notes can a mortgage have?
A mortgage generally only has one note.
How do seller financed mortgages work?
The home owner actually "finances" or accepts payments fom a private individual, in a seller financed mortgage deal. Many homeowners are reluctant to do this for many valid reasons.
What is pmi insurance?
PMI is a type of mortgage insurance that insures the bank for repayment of the home mortgage. Banks generally make you pay for PMI insurance if you are within 80% of the appraised value of the home financed. For example if you have a home that is appraised at $200,000 and the balance on the mortgage is $160,000 or more then the bank will require you to carry PMI insurance. PMI insurance only covers the bank but the homeowner is the one who has to pay the premium.
When did green tree buy purchase gmac home mortgage loans?
The Green Tree did purchase the GMAC home mortgage loans five years ago. They are expecting to own homes in the near future because they will be financed by the mortgage loans.
In simple terms what does it mean to receive a deed in lieu of foreclosure?
A deed in lieu of foreclosure refers to the process of handing over a property deed to the mortgage financier and no longer having to pay the mortgage. The property now belongs to the company who financed the mortgage.
