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I have 250,000 to put down if someone has the credit to borrow a million dollars on a second mortgage for 1 million dollars.. I have 250,000 and want to borrow it so I can purchase a poducing U.S oil well for $750,000. I can afford the monthly payment but what i want to do is buy an oil well and repay the loan off using the 3 year loan.
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This is difficult to meet because all homes with a purchase price above $1 million require a down payment of 20% or more. Typically, if you’re buying a home with less than a 20% down payment, your mortgage is considered a high-ratio mortgage and you’re required to purchase mortgage default insurance. Mortgage default insurance protects the.
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Mortgage Calculator – Free mortgage calculator to find monthly payment, total home ownership cost, and amortization schedule of a mortgage with options for taxes, insurance, PMI, HOA, early payoff.. monthly mortgage payments usually comprise the bulk of the financial costs associated with owning a house, but there.
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