waddle02 asked:


Say that the 2nd mortgage is substantially less than the value of the house. Let 's say that the value of the house is? in $ 300k, and the first mortgage (which is "in the house) is $ 40K left. You take a home equity of $ 20k. Qu? happens if you default on home equity, since? l can not rule in her house because the value is much more? s high that the amount borrowed.

Harold

Kavan Lee asked:


My situation: 950K purchase price, and I’m putting 300K down (loan principle is about 650K). FICO is 776. 30 years, with 5 years fixed. No points. My mortgage is at 6.125%.

My questions:
1. Assuming tax/insurance of about 1100/month, what would my monthly payment to the bank be?
2. How good is this deal?

Thanks!

Dolores