Posts Tagged ‘sq ft’
Tuesday, August 10th, 2010
Im looking to get a home equity loan from my bank. Already started the process, im just waiting on the drive by appraisal. Im just looking for around ,000 to pay off credit cards i dont use anymore. I dont use credit cards anymore period. But want to be able to pay them off within 5 years, and with all these interest hikes over the past year ill never do it by paying them directly. So i figured even with the highest interest rate for a home equity loan i can have them paid in under 5 years and save over 0 a month. What i want to know is since im requesting a little amount of money does my bank have the ability to work with me in bending the rules a bit if the appraisal doesnt come back with at least what i need to get the entire amount. And what all do they use when doing drive by apprasials and do they increase the value of the house in any way? Thanks!
Well, my tax assesment value puts the house and land at about 2,000. And i currently owe ,000. Is there room to work?
The original appraisal was ,000 back in 2007, since we have updated the entire 1100 sq/ft of living space and restructured and replaced the roof at the tune of ,000, reroofed the garage, and finshed a 300 sq/ft enclosed porch, with also landscaping, with pool and shed reconditioning. Total cost of all we did is around ,000. Any thoughts.
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Tags: amount of money, apprasials, artfrom, bending the rules, blog archive, car leasing, causes of hyperinflation, commercial loan, credit cards, design car, free laptop, highest interest rate, Home Equity Loan, home experiences, japanese used car, jim sinclair, living space, pool, porch, real estate appraisal, root causes, sq ft, structured settlement, tax assesment, womankind, working from home
Posted in Home Equity Loan | No Comments »
Saturday, November 21st, 2009
We’ve lived in our home over 2 years. It was a new construction home when we bought it. We would like to move closer to the city but don’t have much equity in the home yet so having a realtor may cost too much out of pocket, especially if we will need to turn around and buy again. We have it listed on a local FSBO site but it’s back in a quiet subdivision with little traffic so how else can we advertise w/o breaking the bank?
Greenville is the nearest city, selling for 173,000, 2248 sq ft (4bed, 2.5 bath, bonus room)
Greenville is the nearest city, selling for 173,000, 2248 sq ft (4bed, 2.5 bath, bonus room)
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Tags: alchemy mindworks, balentine, bonus room, breaking the bank, capitol avenue, coffee house, crystal drive, energy saving tips, fitness shop, fsbo, home fitness, inflatable buildings, living within your means, madeira beach fl, mail, new construction, new world trade center, quiet subdivision, quiet zones, ray taylor, realtor, salon business, salon equipment, sq ft, taylor road, traffic
Posted in city home equity | 1 Comment »
Wednesday, September 30th, 2009
I know you can’t get 100+% back on remodel projects most of the time, but I want to know which of the projects I list will give our home value the biggest "boost". We have about k to put into our projects, but after that we will need to get a home equity loan, and right now we have little to no equity. Here are the choices:
1. All new energy efficient windows
2. New kitchen countertops, cabinets, sink, fixtures (our appliances are already SS)
3. Turn our screen porch into a sunroom (will add 400 sq. ft.)
4. New RV/boat carport
5. Finish partially built detached garage (its about 75% finished, just need to finish drywall, re-finish ceiling, and add garage door)
Tags: appliances, cabinets, carport, choices, detached garage, drywall, energy efficient windows, garage door, Home Equity Loan, home value, kitchen countertops, new energy, quot, rv boat, screen porch, sq ft, ss, sunroom
Posted in no equity home loan | No Comments »
Friday, September 25th, 2009
I want to build my dream home. The House and Land package is 500,000. Now what?
Does a bank give me a loan on 80% of the home, so I need to come up with 100K? I do not own anything, so does that need to come in the form of Cash? what other means could I do, understanding cash is the best option.
Now, once we figure out the 20% down, what happens from there? The House is built to plan, and then the remaining 400K Becomes my mortgage, and theoretically I have 20% equity in it? Or in these economic times, does a house and land package that costs 500K, really not worth 500K, or is it worth more perhaps?
What are the different loans I will need (i.e. construction loan, mortgage, line of credit)
If i look at "For Sale" homes in the 500K range, can I expect that is what my "built" home will be, in the sense of land space, and sq ft of home? (well newer homes in the 500K range, not forclosued or fixer upper homes)
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Tags: 100k, bailout, blog archive, capital one, car repair, construction loan, crushers, dream home, economic times, home based businesses, home equity loans, honda crv lx, htt, investment business, jeremy williams, land space, loan mortgage, loans, mortgage line, new albums, paris hilton, priuschat, quot, sq ft, us bank
Posted in best home equity loans | No Comments »
Monday, September 21st, 2009
In August 2005 I purchased a 900 sq ft ranch style home w/finished full basement, attached 1 car garage, nice size lot with fenced in back yard for ,000. My taxes value the house at ,500 so I was able to get it no money down and mortgage payments of 1 per month. If I wanted to apply for a home equity loan, how will the amount be determined? Is it based on tax value or will someone actually come and view the property and make an appraisal? I have made considerable updates to the property since I purchased it (roofing, flooring, fixtures, furnace & a/c, water heater, countertops)
Any help is appreciated – I really had wanted to sell this year.
Since it would cause me to lose money to try and sell at this time I was considering using any equity to purchase a 2nd house for myself and let my sons stay in the ranch and split the costs of rent and utilities.
Tags: amp, c water, car garage, flooring, furnace, Home Equity Loan, money, mortgage payments, nice size, ranch style, roofing, sq ft, water heater
Posted in no equity home loan | No Comments »
Tuesday, September 1st, 2009
Anyone today would be insane to buy a house knowing it could fall at any time. Home prices have fallen, but they could fall much, much further. In the early 1990s, a typical 2,000 sq ft. house cost in my area was ,000 vs. 0,000 today. The price to build a house, minus permits, restricted number of contractor licenses and special laws, is very cheap, especially with the illegal labor used. A 2,000 sq ft site-built house could be built in a free market for -K today. I know someone who just built one for k using illegal labor. If the U.S. gov’t doesn’t back today’s home loans for buyers of resale houses, 95 percent of all houses on the market could fall into default, since these properties could not be sold for what was paid + home equity loan due. If that happened, the U.S. economy may collapse as an entire new class of homeless would arise. Should a U.S. gov’t guarantee be put in place for home resale loans?
If we cut the legs out from homeowners, it will probably work out in the long run. In the short run however, all the baby boomers will wind up on gov’t welfare as they will have to use their retirement to pay for their over-inflated mortgages. No retirement money left for retirement. X & Y gens will have to foot the bill for this (or have to warehouse your parents). As Keynes said: In the long run, we are all dead.
Tags: amp, baby boomers, contractor licenses, early 1990s, economy, gens, Home Equity Loan, home loans, homeless, illegal labor, keynes, legs, mortgages, parents, resale houses, retirement money, sq ft, welfare
Posted in best home equity loans | 1 Comment »
Friday, August 28th, 2009
Ok, in May of 2007 I bought my first house. Because we made too much $$ they said we couldn’t do FHA. We ended up getting talked into an 80/20 with 80% being a FR conventional loan for 0k at I believe it was 6.25% (it might be a smidge lower) and about k in an ARM HELOC at prime plus one. I don’t remember the cap, but when I calculated it, it was definintely affordable for us- the cap doesn’t scare me beacuse we wouldn’t have purchased the house if we couldn’t afford it. We actually bought an extremely affordable house (4bed, 2bath, 2000 sq ft 1acre for 8k) and we were approved for somewhere around 0k. We make decent money, our jobs are stable and we have absolutely no debt. My question is I have heard that I cannot refi my HELOC into a fixed loan. I would either just want to lock in the rate on the HELOC (best bet since rate is so low now) or add the k to the 30yr FR mortgage we already have. I have heard 2 things: 1) If we don’t have k in equity in the house then we can’t do it, and 2) you can’t convert a HELOC at all — though I have to read my rider, I haven’t done so yet, just thought of this today when rates dropped.
Does anyone know the truth? Also, how much would it cost to refi something like this. I figured it would be approximately as much as a closing, perhaps slightly less?
Oh yeah and 1 more thing that may factor in. While there is nothing wrong with our house we do want to move closer to work (an hours drive away). As soon as the housing market bounces back, we want to put our house on the market and I’m hoping to at least get 9k for it. That may not be for 2 years or so, but I’m just wondering if it would even be worth it to bother to re-fi if we aren’t planning on staying in the house much longer. We also have a solid offer from the people who sold us the house to buy it back from us at the price we paid for it (I told them to take a flying leap if they think I’m that stupid- I’m not, and I’d rather sit on the house than take a loss, thanks.) Oh and I’m guessing, but I have been told by a couple realtors that I know, that the house is worth about 9k now. (of course that is subjective because if no one is buying then it isn’t worth anything really.)
Oh this is all good news, thanks for the answers. I am going to call around next week after I look over my documents. I am 99% sure we are not upside down on the loan for the simple fact that in NC we aren’t facing the same real estate crisis as most other places. Market is still good here. On top of that I have been watching houses in the area sell and I am pretty sure we’d get more for our house than we paid. Also, we bought it from some desparate people who got transferred, I think the house was undervalued when we bought. Our FICO scores are excellent. Mine is around 750 and BF is around 800. We aren’t in trouble with paying; we could pay three times our mortgage and still be fine, that is why we got a cheaper house. I just want to lock in the rate because I know they are going back up (they can’t go any further down!!!). All I am trying to figure out is how to lock in my rate. I always pay much much more than the minimum anyway.
Thanks again, you’ve all really helped!
Tags: 1acre, 8k, best bet, conventional loan, decent money, fha, fi, first house, heloc, housing market, jobs, leap, mortgage, sq ft, truth
Posted in heloc rates | No Comments »
Sunday, July 12th, 2009
OK so here is the situation. I live in New Jersey, home to some of the most expensive taxes and real estate in the nation. Back in January, I looked at a awesome, large, end unit townhouse in the woods of Passaic County, about 35 miles from New York City. It’s in good condition, its clean, its big (2300 sq. ft) but its dated (but I can update it little bits at a time). It has a garage, finished basement, 2 BR, 2.5 baths, fireplace, backs to woods, and on a quiet road in the complex.
Over the past few months I have been looking a lot of detached houses. The closer I get to work in Bergen County, the smaller, crappier, and more expensive the houses get, and the more and more I keep coming back to that townhouse which is still on the market 6 months later. The townhouse is priced very well and is in a nice area.
If I put some money into updating it, do you think NJ’s market will be kind to me as years go by or do you think a townhouse wont make equity? Is it a bad investmt?
Tags: baths, bergen county, br 2, detached houses, fireplace, little bits, money, new york city, passaic county, quiet road, real estate, s market, sq ft, unit townhouse
Posted in city home equity | 1 Comment »
Sunday, July 12th, 2009
Case scenerio: My husband and I owe my mother about K. We borrowed it last year and we would like to pay her back.
Also…We have a very large home on 3 acres only minutes from the city but it is unfinished. The 2nd level only is 1300 sq ft – it is just framed, no insulation. Our family lives on the main floor and we still have a ton of room.
How could we best put this together?
Should we:
Option#1: Apply for a home equity loan, hoping to get at least K. If we get more, we could partially finish the upstairs with insulation and pay my mother back. Do you get the full equity or a percentage? We have about K equity in the house. or…..
Option #2: Use our credit card to begin finishing upstairs, raise the value of the home and then apply for home equity later? This option would mean paying my mother off LATER rather than EARLIER.
Our home is large enough that we could get a (short term) boarder to help with expenses.
Which do you recommend? I’m not very good at this stuff.
Tags: boarder, credit card, Home Equity Loan, insulation, option 1, sq ft, upstairs
Posted in city home equity | 1 Comment »
Related ‘sq ft’ sites :
 | Square foot - Wikipedia, the free encyclopedia The square foot (Sq Ft) is an imperial unit / U.S. customary unit ... ( A square is a unit used in roofing to measure the area of a roof and is also a unit used ... en.wikipedia.org/wiki/Square_foot |
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 | Square Feet Exterior Square Feet (Ext. SqFt) is a term that we use to denote the total amount of siding material needed for a particular siding job including material waste. ... www.siding4u.com/Dictionary/square-feet.php |
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 | Area Calculator Square or Rectangle. Length (feet) Width (feet) Circle. Diameter (feet) ... at the right angle. Side one (feet) Side two (feet) Area (Square feet) ... www.gardenplace.com/content/calculator/area_calc.html |
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 | The ft.² Report After several months of negotiations, Vigillo landed in 4,500 square feet on the ground level of a mixed used project located on the corner of ... squarefeetpdx.com |
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