Due to a recent divorce, I need advice; I have an outstanding home equity of $50,000 and the present home mortgage is $250,000 and the home is valued at $365,000, what would be the house payment if I was to keep the house. Would I be better off selling? Is there a way to figure out what the hosue payment would be?Due to a recent divorce; I need home advice-?
There are mortgage calculators available online that you can plug in your information and get rough payments.
If you had 30 years remaing on the 250k at 6%, your monthly payment would be $1500.39.
As for your HELOC (Home Equit Line of Credit), how much have you spent of it? You might be able to pull 50k out, but how much have you actually used?
If you owed the full 300k and were able to refinance it into a single 30 yr fixed loan at 6%, you'd see a monthly payment of $1800.50 and possibly be charged for PMI.Due to a recent divorce; I need home advice-?
We can't really give you a good answer, because we don't have all your financial information, nor do we want it.
You need to talk with several lenders about their refinance programs. Doesn't sound like you're too bad off yet, so your own loan company won't talk with you about helping at this point. I suggest you try to refinance and stay for awhile.
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