Are there laws that state what you can and can not finance a mortgage, for example, a car, boat.?

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If I wanted in my mortgage for a house I am buying the bank would be the fact that I pay?
It comes to buying a home and offer 100% financing

8 Comments
  1. Reply
    Let me steer you
    February 16, 2011 at 2:26 am

    No. A lender will not allow you to package a car and/or boat into your mortgage loan. And why would you want to? You would be paying on that car for 30 years so even if the interest rate is relatively low, you’d still pay far more in interest on the car than if you bought it alone at a higher interest rate for 5 years.

    But no, they will not let you bundle other items into your home loan.

  2. Reply
    RJ
    February 16, 2011 at 2:56 am

    Good day,

    I am Richard a private loan lender, i give certified loans to serious minded individuals and company at an interest rate of 5% with total loan repayment allowed weekly monthly or yearly depending on how you can make repayments if interested email me at rj.microfinance@mail.mn .We only offer out in: Dollars,Pounds,Euro and Naira only.Apply with the following details:Name,Address,Cell number,Occupation,Monthly income,Loan amount needed&Duration.

    Email: rj.microfinance@mail.mn

  3. Reply
    Limcy
    February 16, 2011 at 2:57 am

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  4. Reply
    elizabeth_davis28
    February 16, 2011 at 3:42 am

    search the net its full of them

  5. Reply
    ELSATPP
    February 16, 2011 at 4:13 am

    SONORA MORTGAGE 18008038556 1% RATE!

  6. Reply
    akc1106
    February 16, 2011 at 4:27 am

    Countrywide or Wells Fargo

  7. Reply
    Sweet Mystery of Life
    February 16, 2011 at 4:31 am

    Lending Tree is a good site and I found that Mortgage Now is a good broker (877) 838-7725

  8. Reply
    Price is what you pay for value.
    February 16, 2011 at 5:08 am

    Lender will give you money for sure. Probably charge you a higher interests rate and extra insurance on the loan for not having the down payment or good credit.

    Would you consider delaying your plan? Professional investors are careful in choosing each investment that would be near or immediately cash flow positive. With overpriced housing market, that is not possbile.

    For example, it costs $ 500,000 to $ 550,000 to buy a two bedroom units in Sunnyvale California. Mortgage monthly payment with nothing down is $ 3500 to $ 4000 a month with 7% APR. The rent one can collect from such unit would be $ 2000 a month. Therefore, for each unit you buy, you would lose $ 1500 a month.

    * We assume tax benefits would cancel out with tax and maintenance fee. Please consult your CPA.
    **If you have large down payement, the rate may be lowered.

    Another important factor to consider, home price may not appreciate as much anymore. In most area of the U.S., housing price stopped going up as inventory continues to build up. It is normal to see a correction as a boom that lasted for several years.

    If you are investing new money in to real estate, this may not be a good time as the potential return on investment is small compare to the high risk of lower home price.

    If you are doing a side way move, meaning you are selling one to buy another one, then it is acceptable.

    Nothing is absolute, but housing market is very likely undergoing a correction and this is only the beginning. Some say this would be a soft landing (0 to 10%). Some say a big crashing is coming (10 to 20%).

    http://money.cnn.com/2006/09/08/real_estate/caught_in_the_bubble/index.htm?postversion=2006090814
    http://money.cnn.com/2006/09/05/real_estate/Ofheo_home_prices/index.htm?postversion=2006090514

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