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Real estate foreclosures information from Answerbag Real estate foreclosures What you need to know about buying property that has been foreclosed Home » Index » Real estate » Foreclosures Questions What is a foreclosure? Are foreclosures an option? What are problems buying foreclosures? What types of foreclosure are there? How do you get financing for a foreclosure? What happens at a trustee sale? How do you find government-repossessed homes? Can I get a HUD home for as little as $100 down? Where can I find foreclosures? Do I have to buy HUD homes through a realty agent? Where do I learn about HUD foreclosures? How does a home go into foreclosure? What happens at a trustee sale? How bad is a previous foreclosure on credit? What makes a newspaper "the newspaper of record" in a given state? Who takes care of delinquent property taxes that have been previously sold at tax certificate sale for prior years? Am I responsible for any liens that were on a foreclosed property before I had purchased it? I have the policy of title insurance. In the normal home buying process, issues found during the home inspection allow you to back out of the purchase. Does this apply to foreclosures also? How long does foreclosure take? Where can I find an example of a letter to send to home owner's who are facing forclosure asking them if they would like to sell before their home is forclosed on? If a bank initiates a foreclosure on a property which also has an IRS lien, and the bank ends up buying back the property for the amount of the unpaid loan, does the bank also have to satisfy the IRS lien? Can you use a prequalification letter to secure a bid on a property that has been foreclosed on by a mortgage company at the county sale? » Ask a question What is a foreclosure? (100%, 2 ratings) submitted by Andersen777 ( A++ , 99%, 1854 ratings), Apr 27, 04 A foreclosure is a legal procedure whereby a lender gains title or sells a mortgagors after he or she does not pay it in order to satisfy all or part of the unpaid debt (legal definition). Layman's terms: Essentially, due to lack of payments, the property is repossessed by the lender. The property is then re-sold as foreclosed. This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top Are foreclosures an option? (0 ratings) submitted by Real Estate Guy ( A , 97%, 58 ratings), Sep 9, 03 A foreclosure property is a home that has been repossessed by the lender because the owners failed to pay the mortgage. Thousands of homes end up in foreclosure every year. Economic conditions affect the number of foreclosures, too. Many people lose their homes due to job loss, credit problems or unexpected expenses. It is wise to be cautious when considering a foreclosure. Many experts, in fact, advise inexperienced buyers to hire an expert to take them through the process. It is important to have the house thoroughly inspected and to be sure that any liens, undisclosed mortgages or court judgments are cleared or at least disclosed. This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top What are problems buying foreclosures? (0 ratings) submitted by Real Estate Guy ( A , 97%, 58 ratings), Sep 9, 03 Buying directly at a legal foreclosure sale is risky and dangerous. It is strictly caveat emptor ("Let the buyer beware"). The process has many disadvantages. There is no financing; you need cash and lots of it. The title needs to be checked before the purchase or the buyer could buy a seriously deficient title. The property's condition is not well known and an interior inspection of the property may not be possible before the sale, says Wiedemer. In addition, only estate (probate) and foreclosure sales are exempt from some states? disclosure laws. In both cases, the law protects the seller (usually an heir or financial institution) who has recently acquired the property through adverse circumstances and may have little or no direct information about it. This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top (0 ratings) submitted by Team Jackson (0%, 0 ratings), Nov 17, 05 There is however a difference in Sheriff Sale auction homes and REO foreclosure homes The ones up for auction are risky, no access, owners usually still in them, not sure the condition of the home b4 you bid Of course if the price is LOW enough then who cares REO homes have been auctioned to the bank, cleaned out, and listed with an REO agent in the area. Some of these will be priced high others will be dirt cheap, and you can go look inside them They are all sold AS IS, you can do an inspection but cannot use it to get out of the contract should you find something wrong. This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top What types of foreclosure are there? (0 ratings) submitted by Real Estate Guy ( A , 97%, 58 ratings), Sep 9, 03 Judicial foreclosure action is a proceeding in which a mortgagee, a trustee or another lien holder on property requests a court-supervised sale of the property to cover the unpaid balance of a delinquent debt. Non-judicial foreclosure is the process of selling real property under a power of sale in a mortgage or deed of trust that is in default. In such a foreclosure, however, the lender is unable to obtain a deficiency judgment, which makes some title insurance companies reluctant to issue a policy. This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top How do you get financing for a foreclosure? (0 ratings) submitted by Real Estate Guy ( A , 97%, 58 ratings), Sep 9, 03 One reason there are few bidders at foreclosure sales is that it is next to impossible to get financing for such a property. You generally need to show up with cash and lots of it, or a line of credit with your bank upon which you can draw cashier's checks. This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top What happens at a trustee sale? (0 ratings) submitted by Real Estate Guy ( A , 97%, 58 ratings), Sep 9, 03 Trustee sales are advertised in advance and require an all-cash bid. The sale is usually conducted by a sheriff, a constable or lawyer acting as trustee. This kind of sale, which usually attracts savvy investors, is not for the novice. In a trustee sale, the lender who holds the first loan on the property starts the bidding at the amount of the loan being foreclosed. Successful bidders receive a trustee's deed. This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top How do you find government-repossessed homes? (0 ratings) submitted by Real Estate Guy ( A , 97%, 58 ratings), Sep 9, 03 The U.S. Department of Housing and Urban Development acquires properties from lenders who foreclose on mortgages insured by HUD. These properties are available for sale to both homeowner-occupants and investors. You can only purchase HUD-owned properties through a licensed real estate broker. HUD will pay the broker's commission up to 6 percent of the sales price. Down payments vary depending on whether the property is eligible for FHA insurance. If not, payments range from the conventional market's 5 to 20 percent. One caution. HUD homes are sold "as is," meaning limited repairs have been made but no structural or mechanical warranties are implied. This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top Can I get a HUD home for as little as $100 down? (100%, 2 ratings) submitted by Real Estate Guy ( A , 97%, 58 ratings), Sep 9, 03 If you are strapped for cash and looking for a bargain, you may be able to buy a foreclosure property acquired by the U.S. Department of Housing and Urban Development for as little as $100 down. With HUD foreclosures, down payments vary depending on whether the property is eligible for FHA insurance. If not, payments range from 5 to 20 percent. But when the property is FHA-insured, the down payment can go much lower. Each offer must be accompanied by an "earnest money" deposit equal to 5 percent of the bid price, not to exceed $2,000 but not less than $500. The U.S. Department of Veterans Affairs also offers foreclosure properties which can be purchased directly from the VA often well below market value and with a down payment amount as low as 2 percent for owner-occupants. Investors may be required to pay up to 10 percent of the purchase price as a down payment. This is because the VA guarantees home loans and often ends up owning the property if the veteran defaults. If you are interested in purchasing a VA foreclosure, call 1-800-827-1000 to request a current listing. About 100 new properties are listed every two weeks. You should be aware that foreclosure properties are sold "as is," meaning limited repairs have been made but no structural or mechanical warranties are implied. This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) User comments eric soto : very useful, thanks for the phone # » Add new answer » Add new question » Email me when a new answer is posted » Top (0 ratings) submitted by Team Jackson (0%, 0 ratings), Nov 17, 05 Now days you can pretty much buy anything for no money down There are even programs out there for investors with 0 Down to use on duplexs and 4 families This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top Where can I find foreclosures? (0 ratings) submitted by Real Estate Guy ( A , 97%, 58 ratings), Sep 9, 03 In most states, a foreclosure notice must be published in the legal notices section of a local newspaper where the property is located or in the nearest city. Also, foreclosure notices are usually posted on the property itself and somewhere in the city where the sale is to take place. When a homeowner is late on three payments, the bank will record a notice of default against the property. When the owner fails to pay up, a trustee sale is held, and the property is sold to the highest bidder. The financial institution that has initiated foreclosure proceedings usually will set the bid price at the loan amount. Despite these seemingly straightforward rules, buying foreclosures is not easy as it may sound. Sophisticated investors use the technique so novices may find themselves among stiff competition. Resources: * "The Smart Money Guide to Bargain Homes, How to Find and Buy Foreclosures," James I. Wiedemer, Dearborn Financial Publishing, Chicago; 1994. * "Real Estate Principles," Charles O. Stapleton III, Thomas Moran and Martha R. Williams, Dearborn Financial Publishing, Chicago; 1994. * "Real Estate Investing From A to Z," William H. Pivar, Probus Publishing, Chicago, 1993. This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top (0 ratings) submitted by Team Jackson (0%, 0 ratings), Nov 17, 05 For auctions go to your local courthouse For REO homes go to a site like foreclosure.com or find a broker like me in your area, I pay for the site and get all the info then i post a list weekly by email to hundreds of investors in the area FREE. Look around there is always a guy like me This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top Do I have to buy HUD homes through a realty agent? (0 ratings) submitted by Real Estate Guy ( A , 97%, 58 ratings), Sep 9, 03 You can only purchase a U.S. Department of Housing and Urban Development property through a licensed real estate broker. HUD will pay the broker's commission up to 6 percent of the sales price. This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top Where do I learn about HUD foreclosures? (100%, 2 ratings) submitted by Real Estate Guy ( A , 97%, 58 ratings), Sep 9, 03 One good source is their Web page http://www.hud.gov This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top How does a home go into foreclosure? (75%, 1 rating) submitted by Real Estate Guy ( A , 97%, 58 ratings), Sep 10, 03 (Answer last edited on Jul 5, 05) Foreclosure proceedings usually begin after a borrower has skipped three mortgage payments. The lender will record a notice of default against the property. Unless the debt is satisfied, the lender will foreclose on the mortgage and proceed to set up a trustee sale. For more questions or to learn about foreclosure prevention and information... http://www.propertyinvestmentadvisor.com/stop-foreclosure.html. To learn about foreclosure investing try here... http://www.propertyinvestmentadvisor.com This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) User comments Anonymous : kind of sketchy to those of us who really know nothing of real estate. » Add new answer » Add new question » Email me when a new answer is posted » Top What happens at a trustee sale? (0 ratings) submitted by Real Estate Guy ( A , 97%, 58 ratings), Sep 10, 03 Trustee sales are advertised in advance and require an all-cash bid. The sale is usually conducted by a sheriff, a constable or lawyer acting as trustee. This kind of sale, which usually attracts savvy investors, is not for the novice. In a trustee sale, the lender who holds the first loan on the property starts the bidding at the amount of the loan being foreclosed. Successful bidders receive a trustee's deed. This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top How bad is a previous foreclosure on credit? (0 ratings) submitted by Real Estate Guy ( A , 97%, 58 ratings), Sep 10, 03 A property foreclosure is one of the most damaging events in a borrower's credit history. In terms of the effect on credit history, a deed in lieu of foreclosure or a short sale is not as adverse an event as is a forced foreclosure. This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top What makes a newspaper "the newspaper of record" in a given state? » Add new answer » Add new question » Email me when an answer is posted » Top Who takes care of delinquent property taxes that have been previously sold at tax certificate sale for prior years? » Add new answer » Add new question » Email me when an answer is posted » Top Am I responsible for any liens that were on a foreclosed property before I had purchased it? I have the policy of title insurance. (100%, 1 rating) submitted by breadmanpaul ( A+ , 97%, 219 ratings), Sep 21, 05 Your title insurance provides you with clear title to the property. You cannot obtain clear title without in some way dealing with all existing liens. When you purchased the property, you very likely paid off all of the liens. If there are still liens against the property that were there before you purchased the property, then you do not have clear title. If you have evidence of any existing liens, then take them to the title company that provided you with title insurance. This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top (0 ratings) submitted by Team Jackson (0%, 0 ratings), Nov 17, 05 No... example Sold woman a reo home in Feb of this year had back taxes for 02, 03, 04 due 04 was paid at closing title company mistake now assessor wants 02 and 03 or will tax foreclose title insurance company just paid the assessor they are your insurance that ALL title is clear up to the contract phase then make sure you get a gap for the remainder This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top In the normal home buying process, issues found during the home inspection allow you to back out of the purchase. Does this apply to foreclosures also? (0 ratings) submitted by DARON J ( A- , 86%, 80 ratings), Nov 29, 04 Normally the sell of a forclosure is "as is" . This is supposed to be stated in the realestate listing. If this is the case then you would lose your earnest money if you back out of the contract. This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top How long does foreclosure take? (0 ratings) submitted by Team Jackson (0%, 0 ratings), Nov 17, 05 Most banks will let you be default for 12 months then they will start the procedure for auction this usually takes 90 days before its over and they are evicted depends on each area and the local laws This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top Where can I find an example of a letter to send to home owner's who are facing forclosure asking them if they would like to sell before their home is forclosed on? » Add new answer » Add new question » Email me when an answer is posted » Top If a bank initiates a foreclosure on a property which also has an IRS lien, and the bank ends up buying back the property for the amount of the unpaid loan, does the bank also have to satisfy the IRS lien? (0 ratings) submitted by Team Jackson (0%, 0 ratings), Nov 17, 05 Yes all liens must be clear to resell the property with clear title This answer is ( useful ¤ somewhat useful ¤ incorrect ¤ offensive/spam ) » Add new answer » Add new question » Email me when a new answer is posted » Top Can you use a prequalification letter to secure a bid on a property that has been foreclosed on by a mortgage company at the county sale? » Add new answer » Add new question » Email me when an answer is posted » Top » Ask a question » Send me updates Important: Answerbag cannot guarantee the accuracy of answers submitted by members, and we recommend that you use common sense when following any advice found here. Full disclaimer User tools » Ask a question » Send me updates » Send to a friend » Show in text format » RSS Feed Glossary · NOD » Add new term Related Links No links submitted yet » Add new link Answerbag experts on Real estate foreclosures 1. Andersen777 ( A- , 100%, 2 ratings) 2. 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Find Real Estate, Rentals, New Houses, Real Estate Agents and Mortgages on Yahoo! Real Estate Find Real Estate, Rentals, New Houses, Real Estate Agents and Mortgages Choose Location Home Homes for Sale Apartments for Rent Home Loans Moving & Insurance Tools My Real Estate Hurricane Katrina Resources Features Classifieds • Sell Your Home • Rent Your Apartment Home Loans • Mortgage Rates • Online Rate Quotes • Refinance Loans & Rates • Home Equity Loans & Rates • Free Credit Reports Resources • Find & Compare REALTORS • Find a Mover Insurance • Homeowner's Insurance • Renter's Insurance Tools • What's My Home Worth? • Research Neighborhoods • Free School Reports • Foreclosure Center • Home Service Center Commercial Real Estate • List Commercial Property National Mortgage Rates Tue Jan 18 Mtg Loan Rate APR 30-yr Fixed: 5.25% 5.38% 15-yr Fixed: 4.74% 4.94% 1-yr ARM: 3.53% 5.20% See Local Mortgage Rates Provided by Bankrate.com Neighborhood Profile Research neighborhoods nationwide! City, State, or Zip: Real Estate Listings Browse by City New! Home Loans Center - Find, Compare, & Graph Rates Find a Home Find a Rental City & State, or Zip: Price Range: $0 $30,000 $50,000 $80,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000 $650,000 $750,000 $850,000 $1 million $1.25 million $1.5 million $1.75 million $2 million $2.25 million $2.75 million $3 million $3.5 million $4 million $4.5 million $5 million $6 million $8 million $10 million to No limit $30,000 $50,000 $80,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000 $650,000 $750,000 $850,000 $1 million $1.25 million $1.5 million $1.75 million $2 million $2.25 million $2.75 million $3 million $3.5 million $4 million $4.5 million $5 million $6 million $8 million $10 million Beds: Any 1+ 2+ 3+ 4+ 5+ Baths: Any 1+ 1 1/2+ 2+ 3+ 4+ 5+ Search For: Existing Homes Yahoo! Classifieds New Homes Foreclosures Advanced Search Search Commercial Real Estate Mortgage Payments Calculate your biweekly & monthly payment for different loan amounts, interest rates and amortization terms. Loan Amount: $ Term (years): Interest Rate: % Show table?: Yes No See More Loan Calculators Sponsored Links (Become a Sponsor) Partner Spotlight Featured Sponsor Find a Local REALTOR by HomeGain • Find & Compare REALTORS • Get Home Prices Featured Videos Dream Home Videos by Inman Stories Real Estate News A term every home buyer, real estate agent, homeowner should know Dec 28, 2005, Inman News Rolling Boom Lifts Real Estate Beyond Coastal Cities, States Dec 28, 2005, Realty Times Housing Affordability Hits 14-Year Low Dec 22, 2005, RealEstateJournal.com New home sales tumble but consumers bright Dec 23, 2005, Yahoo! Finance REIT Funds See More Growth In 2006 (Investor's Business Daily) Dec 27, 2005, Yahoo! News New Home Sales for 2006 Look Good Dec 23, 2005, Quicken Loans more real estate news Homes For Sale - Apartments For Rent - Current Mortgage Rates - Real Estate Agents - Local - Yellow Pages

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Investment Property Calculator http://www.dinkytown.net -- Financial Calculators http://www.dinkytown.net -- Investment Property Calculator An investment property can be an excellent investment. This calculator is designed to examine the potential return you might receive from an investment property. Investment Property Calculator Property Address PROPERTY_ADDRESS Property Information PROPERTY_INFO Financing Information Purchase Price PURCHASE_PRICE Cash Invested CASH_INVESTED Loan #1 Amount LOAN_1_AMOUNT    Interest Rate INTEREST_RATE_1    Monthly PI LOAN_1_PI    Term in Months TERM_IN_MONTHS1 Loan #2 Amount LOAN_2_AMOUNT    Interest Rate INTEREST_RATE_2    Monthly PI LOAN_2_PI    Term in Months TERM_IN_MONTHS2 Property & Depreciation Information Land Value LAND_VALUE Personal Property PERSONAL_PROPERTY Building Value BUILDING_VALUE Personal property depreciation PERSONAL_PROPERTY_DEPRECIATION at PERSONAL_PROPERTY_DEPR_RATE depreciation Building depreciation BUILDING_DEPRECIATION at BUILDING_DEPR_RATE depreciation Total Depreciation TOTAL_DEPRECIATION Gross Operating Income Annual Rent ANNUAL_RENT Less Vacancy LESS_VACANCY Gross Operating Income GROSS_OPERATING_INCOME Annual Expenses Real Estate Taxes REAL_ESTATE_TAXES Utilities UTILITIES Insurance INSURANCE Maintenance/Repairs MAINTENANCE_REPAIRS Advertising ADVERTISING Admin/Legal ADMIN_LEGAL Supplies SUPPLIES Miscellaneous MISC Total operating expense TOTAL_OPERATING_EXPENSE Operating expense ratio OPERATING_EXPENSE_RATIO Tax and Appreciation Rates Tax bracket TAX_BRACKET Appreciation rate APPRECIATION_RATE Cash Before Taxes Gross Operating Income GROSS_OPERATING_INCOME Operating expense - TOTAL_OPERATING_EXPENSE Net Operating Income = NET_OPERATING_INCOME Annual Debt Service - ANNUAL_DEBT_SERVICE Cash Flow Before Tax = CASH_FLOW_BEFORE_TAX Cash After Taxes Net Operating Income NET_OPERATING_INCOME Total Interest - TOTAL_INTEREST Total Depreciation - TOTAL_DEPRECIATION Taxable Income = TAXABLE_INCOME Tax Paid or Saved TAX_PAID_OR_SAVED Cash flow after tax CASH_FLOW_AFTER_TAX Rates of return Total appreciation TOTAL_APPRECIATION Return on Investment with appreciation RETURN_ON_INVESTMENT_WITH_APPRECIATION Return on Investment without appreciation RETURN_ON_INVESTMENT_WITHOUT_APPRECIATION Cap Rate CAP_RATE Cash on Cash CASH_ON_CASH Schedule **REPEATING GROUP** Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. " This Financial Calculator requires a Browser with Java(TM) applet Support. If you are seeing this message you will need to download SUN's Java(TM) Plug-in. This can be done simply, and automatically, by clicking the link below: Get the Java(TM) Plug-in! Definitions Cash Invested The money, you the investor, actually have to put down on the property. (out of pocket). Usually it is the amount of earnest money you invest in property. Interest Rate The amount of interest the investor pays annually to borrow money from the lender. Rates and programs can vary, check with lender for more information. Land Value The approximate value of the land that the property sits on. Usually available on the tax records in the county the property resides. You can not deprecate land value. Personal Property Anything that you have that is used for the investment property, such as washer/dryer, range, refrigerator lawn equipment, fixtures and other. Personal Property Depreciation Rate The rate annually you can depreciate on the personal property. Building Value Depreciation Rate Recovery period for five-year personal property. Year Percentage 1 20% 3 14.20% 5 11.52% 2 32% 4 11.52% 6 5.76% Appreciation The amount the property is on an annual basis appreciation occurs on entire value of the property Loan P & I P=principle, I=interest Total Depreciation Total amount you can depreciate annually on personal property and building value. Gross Operating Income The amount of income available after vacancy. Total Annual Operating Expense The total annual expenses including real estate tax, repairs, management fees, insurance, utilities, supplies, and other miscellaneous expenses. Operating Expense Ratio It's the percentage amount- based on the income 23 - 30% is considered average. Net Operating Expenses Total annual amount of expenses. Cash Flow Before Tax What's left after expenses, principle payment and interest. Annual Debt Service Your payment to lender including principal and interest. Equal Principle Reduction The amount left annually as you pay down the principle and interest. Return on Investment w/appreciation Cash flow before tax + principle reduction + taxes saved/paid + appreciation divided by cash invested. Includes appreciation. Return on Investment w/ out Appreciation Does include same formula above except appreciation. Cap Rate AKA= Net operating income divided by price, capitalization rate, rate of return- Anything in Double Digits is Fantastic! Cash on Cash Cash flow before tax % cash invested. Investment Appreciation Annual Percentage of increase of appreciation of property. Total Return The total analyzation of returns of the property. Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Home Equity Loans Features

DCU Fixed-Rate Home Equity Loans Mortgages / Home Equity Home Equity Loan Menu Fixed-Rate Home Equity Loans Fixed-Rate Home Equity Loans Features / Compare with other DCU HELs Rates And Applications DCU Fixed-Rate Home Equity Installment Loans A Fixed-Rate Home Equity Installment Loan is much like an auto loan in that you get the full amount at the start of the loan and pay it down in equal payments for the term you selected. DCU's Fixed-Rate Home Equity Loans offer you... Low competitive fixed rates – Your actual rate is determined by your personal credit history Finance up to 100% of your home's value minus your first mortgage – (Maximum 80% in Texas by state law.) Loans from $5,000 Choose from 4 Terms – 5 years, 10 years, 15 years, and 20 years. Shorter loans mean lower interest rates. Longer loans mean smaller monthly payments. No closing costs* No application fees or pre-payment penalties * Excludes state mortgage taxes in FL , MD , MN , NY , OK , TN , and VA . Fixed-rate Home Equity Loans are available in all 50 states. To beginning of page Comparing DCU Options Here's a side-by-side comparison of DCU's Home Equity Loan options to help you decide which is best for you. Major Features Fixed- Rate Home Equity Loan Equity LinePLUS Type of Rate Fixed for life of the loan. Variable as low as Prime minus 1/4% on line advances. Same as Fixed-Rate Loans for fixed-rate advances Maximum Loan Percentage of home value 100% 100% Minimum Loan or Line $5,000 $5,000 for initial line and $5,000 for each fixed-rate advance Available Terms Balance is Maintained 5, 10, 15, and 20 year terms 20 year draw / 20 year repayment on total loan. Fixed-rate advances for 5, 10, or 15 years Annual Fees None None Closing Costs None None Application Fees None None Prepayment Penalties None None Tax Advantage Yes Yes To beginning of page Rates and Applications Apply for Home Equity Loans Apply Online or by calling 800.328.8797 (select 3). If you need additional information press 0 and ask to speak with one of our Mortgage Specialists. Home Equity Rates Apply Online Use our Loan Calculators to help you determine the loan financing and payment options that are best for you. Back to beginning What's New at DCU | Join Us | New Member Guide | Links Branches | ATMs | Questionnaire | Help Digital Federal Credit Union 220 Donald Lynch Boulevard, PO Box 9130, Marlborough, MA 01752-9130 • 800.328.8797 ® 2005 Digital Federal Credit Union