is there any way to get a bigger ammount on my wage ive got 10.000 deposit
2006-08-22 12:19:58 · 8 answers · asked by Jane tyhe pain 1 in Home & Garden ➔ Other - Home & Garden
Find private investors to carry short term notes at a bigger interest rate. We had 3 mortgages for a year then were down to one, thanks to the help of local investors.
2006-08-22 12:24:13 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Without trying to offend you, have you any idea what you can afford as a monthly payment? A $10,000 down payment is about enough to cover getting a 70 to $85, 000 home in the current markets percentage for a down payment.
Certainly you can likely find larger mortgage amounts, possibly with higher interest rates, and I hear them advertised all the time, but most important is what you can afford.
Not knowing your income, tenure with your job, status regarding marriage, children, etc. I'd say a mortgage on an 85,000 home could cost $600 or more a month perhaps, then added to that would be taxes, insurance, utilities, maintenance, etc. etc. etc.
I'll assume you'll want to maintain some type of lifestyle beyond just being shackled to a house, such as groceries, fuel for a vehicle, or other transportation, some entertainment even if modest, a change of clothing on occassion.
I realize that in todays world, housing costs are outrageous, but if I were you, I'd keep looking, and start with less, enjoy of it what you can, keep it decent, remodel even, and at some point sell for more than you paid. Then look again for an upgrade.
Rev. Steven
2006-08-22 12:31:58 · answer #2 · answered by DIY Doc 7 · 1⤊ 0⤋
Without a full fact find, this question is difficult, if not impossible to answer.
The whole thing hinges on your ability to service the loan and I suspect that £70K is probably as much, if not more, than you can handle. Remember, if a lender lends you £100K and you fail to cope with repayment, then they can be seen as lending irresponsibly. A mortgage is a loan for life and should be viewed with extreme caution.
However, if you have the means to support a loan of £100K, officially or otherwise, then perhaps a guarantor to the loan may help although that is a big responsibility for a third party.
My honest advice is set your sights lower and survive!
2006-08-22 12:46:19 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Get a mortgage broker. They can pretty much negotiate any size mortgage you want, albeit unscrupulously. BUT. And it's a BIG BUT. If interest rates go up you could find repayments impossible.
2006-08-22 13:26:19 · answer #4 · answered by sparky 2 · 0⤊ 0⤋
join the club,,,lol...i think mortgage companies can work thier way around anything if they really want to!!! i think you should check out a bunch of different mortgage companies and banks,,,,,someone will help you out....if you think about it if you cant pay the mortgage they will just come and take your house from you anyways they really dont care.......good luck
2006-08-22 12:27:00 · answer #5 · answered by michelle 5 · 0⤊ 0⤋
do a self certification
go to a specialised mortgage consultant, they can help
you can find their number in the yellow pages
and dont try high street banks
2006-08-22 15:15:56 · answer #6 · answered by me 5 · 0⤊ 0⤋
they will let you go a little more...did you let them know you have 10000 for your deposit this may help you a little
2006-08-22 12:22:49 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Crummy little bedsit for you then????
I know its shite isnt it. I dunno how an average person can afford to buy these days.
My only advice is to find a rich hubby, and when you do ask if hes got a mate for me!
2006-08-22 12:28:59 · answer #8 · answered by loopy lou 3 · 1⤊ 0⤋