vania-janet/multiturn-rag-retrieval-data huggingface dataset:
Question is, what is this number 0.01140924 13.69/12=0.01140924 In addition, how does one come out with the EIR as 13.69% pa? When calculating payments, PV = 9800, N=36 (months), PMT=333.47, results in a rate of 1.140924% per period, and rate of 13.69%/yr. No idea how they claim 7.5% In Excel, type =RATE(36,333.47,-9800,0,0) And you will get 1.141% as the result.  36 = #payments, 333.47 = payment per period, -9800 is the principal (negative, remember this) And the zeros are to say the payments are month end, second zero is the guess.  Edit - I saw the loan is from a Singapore bank. It appears they have different rules on the rates they quote. As quid's answer showed the math, here's the bank's offer page -  The EIR is the rate that we, not just US, but most board members, are used to. I thought I'd offer an example using a 30 year mortgage.   Yo can see above, a 6% fixed rate somehow morphs into a 3.86% AR. No offense to the Singapore bankers, but I see little value in this number. What surprises me most, is that I've not seen this before.  What's baffling is when I change a 15yr term the AP drops to less than half. It's still a 6% loan and there's nothing about it that's 2 percent-ish, in my opinion.  Now we know.
HELOCs typically have a 10 year draw and 5 year payback. During the draw time you can pay interest only if you wish. The rate can range from Prime minus 1.5 to Prime plus (quite a bit).  Of course, you can always shop around for a better deal than you currently have so long as you have equity in your home.
It is pretty simple to avoid risk in home ownership: Do those things and your risk of home ownership is about nil.
"Would my (new) landlord even be aware of the fact that I'm his   guarantor? Does that show up on a credit report or would there be   another indication of it somewhere? It may come up during background checks, and it may not come up. You're expected to disclose material information on the rental application, and withholding it may lead to voiding the rental contract and eviction. But the problem is slightly different. Can you afford paying two rents? By being the guarantor you take the responsibility of paying the rent ""in the case if..."". You need to treat it as a real liability that you will be expected to pay. With all the respect to your brother, if something unexpected happens - you will be on the hook. You have to account for that."
Just so you know, in a small claims court limits are less than $10K so even if you win, you will get just half the money.  Hiring an attorney can be expensive. Never lend money to family or friends unless you don't expect to have it back.  Keep the friendship and the money.
You should have drafted a contract of purchase that stipulated out equity stake in the home based of his down payment and yours, along with future monthly payments.  But morally, if the house sells, yielding 100,000 profit (after fees/taxes/etc), you should get ( To Calculate Your Cut: (20,000 + Your Total Mortgage Payments Applied to Principle) / (1,900 + His Total Mortgage Payments Applied to Principle Only) * Profit on Sale of House After All Fees = Your Cut His would be: (1,900 + His Total Mortgage Payments Applied to Principle Only) / (20,000 + Your Total Mortgage Payments Applied to Principle) * Profit on Sale of House After All Fees = His Cut You'd then take mortgage payment totals for each; and calculate the payments made towards interest; and claim the correct amount each of you paid on payments for the mortgage interest deduction when you file your taxes. Although, depending on how the loan is written, the banks may issue 1099s which dont reflect actual payments made... Talk to an accountant.
"Assumption - you live in a country like Australia, which has ""recourse"" mortgages. If you buy the apartment and take out a mortgage, the bank doesn't care too much if your apartment gets built or not. If the construction fails, you still owe the bank the money."
"The biggest question is do you want to be a landlord? There are a lot of ups and down to managing property from bad tenants to having to fix a water heater or replace a fridge.   If you aren't interested in being a landlord, it is definitely a bad idea.   If you do want to be a landlord, then the question is how close do you want to be to your tenants?   What if they are up late making noise, etc.?   What if they watch TV all night and you hear it through the walls?   What is your plan?   You ask if people have trouble ""sharing"" a house.   If you are the landlord and the other party the tenant, then you aren't ""Sharing"", you are leasing.   It's a different relationship with different strains."
Not really money related, but: how long are you going to be staying there? Once your wife graduates, would you be potentially moving to another area, or needing to move to be closer to where she works? If so, you might want to wait until after she graduates and you know where you'll be, before putting down money on large stationary items like houses.
I'm sorry, but who pressured the appraiser to overstate the value of the house by threatening him with a loss of future business? I'm pretty sure I hired him but the lender threatened him. After I only had one house for him to do. You're missing the bigger picture
This may be in part because Freddie Mac had looser requirements to get a loan pre-collapse, then tightened significantly, then started to loosen some (also around June 2013, rates climbed significantly due to some signals from the Fed, although they're almost back to their lows thanks to the Fed again). These are averages across all loans, so you get some noise as a result. Loan interest rates are very personal, in general: they depend on your credit, your house and down payment, and your bank (which varies by your location). The best thing to do is to shop around yourself and just see what you get, and ask your lender any questions you have: if you pick a local lender with a good service history and who is willing to talk to you in person (ie, has a direct phone number), you'll have no trouble getting answers.
(I would recommend dropping at least SOMETHING, however, if possible.) Apartments of the size your family is going to require are going to be expensive. People who own apartment buildings are looking to make the most money per square foot. This means most apartment complexes are going to be filled with 1-2 bedroom apartments, but have very few if any 3+ bedroom apartments. (Again, this is my general experience, but it may be different where you're living.) I suspect the apartment your family is going to need is going to end up being very expensive, especially if people are moving into your town. You might consider trying to get a lower-quality house as apposed to a rare and large apartment for a few pretty obvious reasons: Don't misunderstand me, though. A lot of people get infatuated with the idea of being a home owner, and end up getting into something they will never be able to maintain, and if that happens it's something that's going to follow you for the rest of your life. As for your student loans, if you NEED to and you qualify you can apply for hardship. This would mean that you don't have to pay anything, or pay a reduced rate for some arbitrary approved amount of time, or until some arbitrary circumstance is met. However, do not take this lightly. While doing this might not necessarily accrue interest (depending on whether or not your loans were subsidized or unsubsidized and a host of other factors it might actually halt interest) these loans will follow you even into bankruptcy. Meaning if you get your student loans postponed and end up losing the house anyway, you have to make a fresh start with a bankruptcy AND student loans on your back. Furthermore, you can't count your chickens before they hatch, and neither will the banks. A big part of qualifying for a loan is your proof of income. If you haven't had that steady job for 6 months to a year or more, you're going to have a tough time getting a loan. Suppose your wife-to-be DOES start making that income...it's still not going to make a difference to the banks until they can say that it's not just a month long fling.
Banks don't want to manage property.  They despise the fact that they have all of these foreclosures that they can't sell.  They just want to loan you the money at X% and collect the fees and interest. The value of a reverse mortgage to the lender is that it's a collateralized loan against a property.  When the owner exits the property, it's attached to the property and must be paid back before the property is sold.  They carefully consider the age of the recipient, equity in the property, etc. when they decide how much to pay the owner so that the chances of the loan going underwater are minimized.
No kidding, I'm shocked. /s  The flipper boom after the 2008 downturn basically means that anything affordable gets snapped up by an investor in a cash sale, they do some half-assed renovations, and then turn and sell it for double the original price. They out-compete low-end buyers during purchase, even if those buyers have outstanding credit, and then they move the house out of reach of those very buyers.  $300k - $600k houses are everywhere around here. What isn't available are reasonably priced houses under $300k that might need some minor updating. Anything under that you can actually purchase is probably something barely above occupancy standards.  There is *no* incentive to build or renovate affordable low end houses. None.
Yes, banks still offer combo loans, but it is going to depend on the appraised value of your home. Typically lenders will allow you to finance up to 80% loan to value on the first mortgage (conforming loan amount) and 95% combined loan to value on a HELOC.   I would start by checking with your local credit union or bank branch. They have more competitive rates and can be more flexible with loan amount and appraised value guidelines.
How much can you budget for the lot, utilities, permits required to get zoning approval, fees, interest, and taxes before you start construction? Down payment. It sounds like you have a plan for this. Loan underwriting. Talk with a good bank loan officer about what their expectations are. Ask about the ""front-end"" and ""back-end"" Debt-To-Income ratios. In Oregon, I recommend Washington Federal for lot loans and construction loans. They keep all of their loans, and service the loans themselves. They use appraisers who are specially trained in evaluating new home construction. Their appraisers tend to appraise a bit low, but not ridiculously low like the incompetent appraisers used by some other banks in the area. (I know two banks with lots of Oregon branches that use an appraiser who ignores 40% of the finished, heated area of some to-be-built homes.) Avoid any institution (including USAA and NavyFed) that outsources their lending to PHH. Lot loan. In Oregon, Washington Federal offers lot loans with 30% down payments, 20-year amortization, and one point, on approved credit. The interest rate can be a fixed rate, but is typically a few percentage points per year higher than for a mortgage secured by a permanent house. If you have the financial wherewithal to start building within two years, Washington Federal also offers short-term lot loans. Ask about the costs of appraisals, points, and recording fees. Rent. How much will it cost to rent a place to live, between when you move back to Oregon, and when your new home is ready to move into? Commute. How much time will it take to get from your new home to work? How much will it cost? (E.g., car ownership, depreciation, maintenance, insurance, taxes, fuel? If public transportation is an option, how much will it cost?) Lot availability. How many are there to choose from? Can you talk a farmer into selling off a chunk of land? Can you homestead government land? How much does a lot cost?
I know that both Lowes and Home Depot (in Canada at least) will offer a 6 month deferred interest payment on all purchases over a certain dollar amount (IIRC, $500+), and sometimes run product specific 1 year deferred interest specials. This is a very effective way of financing renovations. Details: You've probably seen deferred interest -- It's very commonly used in furniture sales (No money down!!! No interest!!! Do not pay for 1 full year!!!)  (Personally, I think it's a plot by the exclamation point manufacturers) It works like this: Typically, I manage these types of purchases by dividing the principal by 6, and then adding 5%, and paying that amount each month.  Pay close attention to the end date, because you do not want to pay 22% interest on the entire amount.   This also requires that you watch your card balance carefully.  All payments are usually put to current purchases (i.e. those not under a plan) first, before they are applied to the plan balance.  So if you are paying 250 a month on the new floor, and run up another $150 on paint, You need to pay the entire new balance, and then the $250 floor payment in order for it to be applied correctly.  Also <shameless plug> http://diy.stackexchange.com </shameless plug>  Consider doing it yourself.
&gt;$200,000 home or less  AAHAHAHAHAHAHAHA.  I'm still not seeing houses in a metro-area with jobs going for less than $350k-$400k.  I think it's because I live in the Northeast and the Boston area, but that *is* where the opportunities are.
I see one clear thing to help: She lives alone.  Why does she need a two bedroom place?
Anecdotally, we recently bought a house in a really hot labor market. Our agent told us that she has a lot of people who are looking to sell (enough to start working with an agent) but are refusing to list their houses because the prices keep going up. She is begging them to list but they keep waiting, driving up prices even further.
Its a great time to buy! 2006, 2007, 2008, 2009, 2010, 2011 - NAR  Nothing but a bunch of leaches and add-nothing middlemen. The internet should have put them out of business with the travel agents. Instead, they successfully lobbied enough state legislatures to permanently wedge their club into one of the most valuable markets on earth. Our current economic troubles are worse because they were successful. An entire organization built around lying for profit.
If a real estate property catches your eye, please don’t hesitate to request more information as these days, properties are snatched up quickly.  Just have questions? Give us a call or email us. We’re always happy to answer any questions you may have.  We look forward to the opportunity of helping you buy or sell your next Cabo home.
It's a short sale. See these for good overviews: http://www.realtor.org/library/library/fg335 http://homebuying.about.com/od/4closureshortsales/a/shortsalebasics.htm  You'll want input from your lawyer and accountant (assuming the lender says they would accept such a sale). Best of luck - sounds like this could be a great opportunity for you if it all comes together. DO NOT talk to a realtor.
"This is a funny article.  This kid is riding around talking to people who don't want to sell.  If they wanted to sell, they'd call a realtor.  Sounds like he can't afford what's already on the market. 23-year-olds typically don't own.  This is the flip side of the ""wealth effect.""  The middle class housing has appreciated so much, millennials can't afford to buy them.  I think there's quite an overhang, and prices should fall as the boomers need to sell, and millennials have more resources."
I used Redfin to find my house! The listing was there and not other sites like Zillow until much later. By then I had already made an offer. Also their user interface, especially on mobile, is way better.
No offer is too low. You can always offer more but you can't offer less once you have made your first offer. And there is always another great deal just around the corner. The more enthusiastic you are about buying this property the less your negotiating power will be. The pproperty has already been on the market for a long while, so the vendor may be getting desperate to sell, so their negotiating power is already lessened. Know what the market is in the the area and offer at least 10% below the market. If it is a weak market then offer at least 20% below market. (Note: the list price is usually more than the market price). So offer as low as possible and you can always offer more if you think it is still a good price. Treat it like a game and have some fun, don't stress out if you miss out, there will always be a better deal just around the corner.
It depends on where you live and what your situation is. If you're a born and bred New Yorker who thinks that White Plains, NY is a stop on the way to Canada, than you're ok. If you're a single person living in downtown Boston, you may want to err on the side of spending less. You may find yourself in a situation in a few short years where you significant other has a job in the suburbs and the prospect of sending your child to a city school is not appealing.
If you will be there 5-6 years it could be viable. Here are some of the cost considerations: There may be some more fees, but that should be the bulk of it - You'll have to do the math on all of the above and see which makes sense :)
I agree, again, for the most part. But I still see the trend of real-estate to be going down. I would much rather have my money in an up-trend. While many people should still buy homes for the same reasons they would if the bubble weren't there and still crashing.
Your house and 25 acres was $50K? How is that even possible? Growing up in the 90's the average house in my town was around $600k. Now median home prices in that area are around $1 million. This is a suburb of Boston, so it's not like I'm talking about a place in an actual city.  Prices fluctuate in real estate so much depending on location. Growing up in Massachusetts and then doing my undergrad near NYC, my experience with average or entry-level home prices told me they were always over half a million. It didn't really hit me that prices varied significantly until I went to get my Masters from Syracuse, my friend's father decided to just buy a 5 bedroom house on the edge of campus rather than pay her rent. It was so cheap it made sense (a little under $100K, so he bought it with straight cash).   But still, 25 acres and $50k sounds unreal today. Like the cost of building materials alone would be more than that, forgetting about the cost of land.
1) get good grades  2) get into top school  3) continue getting good grades  4) get an interview and kill it  5) enjoy the fruits of your success with copious amounts of drinking to deal with the hours  Done, and I don't even need to be a banker to tell you this
Anything from being a plumber to being a nurse, or dental assistant to an electrician or most any other contractor. We own a couple dental offices and everyone we know has a difficult time finding dental assistants (job typically requires 6 months of training and 1 year of work)  Hell I had a $6k-$10k job for an electrician (about 3 full days worth of work) couldnt get a single one to call me back because they were busier with bigger jobs. Luckily I can get a plumber to come in because he's already a client of mine but there are lots of plumbers here that won't go to new homes because they have enough existing clients.
If that's what you're into, then yeah.  Having a deep interest in it or whichever discipline you follow is probably the most helpful aspect. I learned that the hard way by spending too much time trying to become a quant (the wall Street definition) and wish someone had told me about things information science, data visuslizatuon, or even something like ecommerce or search optimisation. All of which seem to be in even more demand that being a quant.  I reccomened talking to some people in the field. Maybe your academic advisor could help with that. It's also good for networking.
They don't need a High School degree and even the military requires one now. It's a job with benefits and overtime.  With only 3 years of experience, they can make $80,000/year.   Finally, the rural areas the mines are located are cheap places to live, where a typical 3-bedroom 2000-ft brick home sells for $110,000.  People can afford to have families.  The Disneyland employee is paying $1200/month rent and can't afford a house near Orlando. They don't need a HS degree either, but those people are making $8/hr and are probably living with their parents.
Can confirm. Have kids. Am not rich. Live in NYC.   Everyone got caught up on the janitor thing. It was one client of mine and I was shocked when I found out what he made. Dont know if he was born into the job, he was towards the end of his career, had been a janitor for 30 years and probably worked some over time. He doesnt live in rent controlled housing, he probably makes too much to qualify though I dont know how that works. He actually owns a pretty nice house in a working class community.
For nearly a decade, The LA home blog  have been brokering real estate deals across the city.  Negotiating contracts, overseeing inspections, advising on loans, renovating and staging homes to prepare for market - we have built a team that is ready for any situation.
Yeah, that part is truly brutal.  Even if you really did the best things imaginable to lower tuition costs, like AP courses in high school, AA at junior college, then state school for your bachelor's, you're still easily looking at $20k in debt.  Amazon pay at a warehouse simply isn't going to cut it.
Oh definitely, you just need to be willing to work in Bismarck ND, or various parts of the rustbelt. And it's not that you're getting paid especially high, it's that everything is so insanely cheap (for the most part).  The last enclave of decent earning potential, really cheap living, and decent weather/enough stuff to do to keep you content is deep south college towns, but those are a secret so shush!
If you're even remotely intellectual or tech savvy, and you're not pursuing a STEM career, you are doing yourself a huge disservice. Without a college degree you can easily get a Helpdesk or Support job that will carry you into a well paying job.
I should also add that the 7/63 won't do much for you. If you're really interested in finance, you have a few options.  1) Sales - in which case the 7/63 is about all you need. The rest is just time and practice.  2) A job as an analyst. Your best bet here is to pursue the CFA charter.   3) A financial planner/advisor. This job is kind of a subcategory of #1. I always like to say that an advisor's primary job is to sell, giving meaningful advice is secondary. Nonetheless, a CFP is helpful here.  4) A trader. CFA charter is helpful here as with #2.  5) High Frequency Trading - Masters/PhD in math or a quant discipline and C++ is a must.
&gt; To get a well paying job requires a degree these days.  Not if you're willing to do some manual labor.  The skilled trades are experiencing a shortage of young workers.  They pay pretty well.  Well enough to save for college.    &gt; Not everyone has the money to pay for college without a loan. Does that mean they shouldn't be able to get a well paying job?  The unfortunate reality of the world is that life, sometimes, isn't fair.  To be fair, I needed student loans to get through school.  I didn't choose to major in art history or underwater basket weaving though.  After a year of majoring in mathematics, I realized the dire economic decision I was making and chose to pursue engineering instead.
"Go to college: Unemployement for a year, $30k debt, ""unpaid internship"" for a year after, $50k base after 3 years experience in a junior position, some benefits.  Become a cop: Union protection, $59k base with upwards $200k income, government benefits and healthcare, paid equipment and expenses, ""external"" privileges dealing with law enforcement."