Current Value of the Home?

Q: When refinancing, conventional loans require at least a 10% equity position which means the final loan should not be greater than 90% of the current market value of the home. If the newly appraised value is $300,000 the conventional loan limit is 90% of that amount, or $270,000 which can include principal and interest plus closing costs. Conventional loans are those approved using standards issued by Fannie Mae and Freddie Mac. When pulling out cash during the transaction, the conventional limit rests at 80% of the value of the home.
https://cambridgehomeloan.com/tampa-loan

Shajahan Ali, Noida

7th November 2019

Investment Advice in Ara

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What is the current rate of interest is going on in USA and what all documents required to avail this facilities?

Syed Pasha, Delhi-NCR

14th December 2019

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I am living in Delhi and looking for a home loan. I came to know that most of the builder in Tier-1 cities asking for 20% as down payment and rest as home loan EMI. If i am buying a home which cost me around Rs 30L, i have to pay 6L as a upfront amount and rest of 24L through EMI up to 15 years.

Syed Pasha, Delhi-NCR

14th December 2019

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