How do I calculate mortgage payments when buying a home from a family member?
March 23rd, 2009 | by admin |Y? asked:
We are thinking of purchasing a house from my father. Instead of using a mortgage broker or bank, he suggested using a lawyer to set up monthly mortgage payments directly to him. We would still buy the house, and it would be in our names, not renting. How are payments like this calculated? Also, it seems this gives us flexibility and saves us money, but isn’t as secure. What are the specific down-sides to this?
Maureen
We are thinking of purchasing a house from my father. Instead of using a mortgage broker or bank, he suggested using a lawyer to set up monthly mortgage payments directly to him. We would still buy the house, and it would be in our names, not renting. How are payments like this calculated? Also, it seems this gives us flexibility and saves us money, but isn’t as secure. What are the specific down-sides to this?
Maureen
3 Responses to “How do I calculate mortgage payments when buying a home from a family member?”
By manas p on Mar 24, 2009 | Reply
It’s true.. it is not very secure method.
By Adier on Mar 26, 2009 | Reply
Mortgage calculators an help you httpwwwmortgagecalccom httprealestateozfreeonlinecom.
By HIGH SHAMAN on Mar 28, 2009 | Reply
For the closing and have them prepare amoritization schedule for the closing and have them prepare amoritization schedule for the closing and have them prepare amoritization.
The closing and have them prepare amoritization schedule for the closing and have them prepare amoritization schedule for you.
The closing and have them prepare amoritization schedule for you.