How many mortgages can you have on 1 house?
Answers: There is no limit, but it gets progressively more difficult unless you have a ton of equity in the house that isn't secured through some other loan.
3 motagages
vote me
I thought one and you can remorgage that?
I think they only allow 2.
They will make you pay one off before getting another after 2.
As many as you can get. That's a fact.
Good luck.
I have seen three on one property. Unless you only need the additional money short term, consider refinancing. There may be a little more cost, but you need to look at the whole picture. A mortgage professional can do the math for you.
You would need 90% LTV to get a better rate.
Typically 2. Good luck finding a lender willing to be in third position...
Can a single Real Estate firm both develop and invest in real estate?
Answers: Development relies on investing.
I've seen it happen.
What is Balloon payment mortgage?
Answers: Big money you pay at the end of the contract...in lamest terms...
Look here
http://en.wikipedia.org/wiki/Balloon_pay...
Balloon payment example.
if you finance something for 1yr you would have 11 payments that are the same then the last payment ( or 12th) would be the ballance.
Loan $1000.00
11 payments of $50.00 = $550.00
12th payment would be the ballance =$450.00 total $1000.00
Simple answer to the question is: If you have a 5 year balloon mortgage amortized as for a 30 year payout, you will have to either refinance at the end of 5 years or pay the remainder of the mortgage. Balloon mortgages usually have a slightly lower interest rate and are good for those who know that they will be in the home for less than the balloon term. The risk is also that mortgage rates might be higher in 5 years and/or home values lower.