Now that the real estate market is heating up, I am seeing so many people buy their homes without knowing anything about the financial side of home buying. They don’t seem to know anything about mortgages, taxes, etc.
I think the biggest problem with this is that people who don’t know the ins and outs of home buying are not going to be able to make educated decisions. Yes, I am fully aware that everyone is going to have a different opinion, but it’s not going to be based on facts.
Capsim is a financial service that offers a simple online portal for people to get the inside scoop on mortgages. While it does offer a lot of information, the only real information that I found was that Capsim’s fees range from 3.7% of the home to 1.7% of the home, depending on what you get and how much.
The majority of houses listed on the Capsim website are going to be for people who currently find themselves underwater in a mortgage or who are just looking to get a mortgage themselves because they’re planning on moving later in the year. I would call this an extremely conservative estimate, but it’s still the most commonly used number on the table. However, capsim works the same way with mortgages.
For the majority of people, the cap is 2.7% of the home’s value. With capsim, that number is going to be higher, usually somewhere between 3-5%. Some capsim loans are for people that have just started the process of looking for a home and are looking to make a quick investment.
A lot of people are thinking capsim is going to be a great way to get into home buying. But remember capsim is not a loan. People are still going to have to pay interest on capsim loans. The cap on capsim is 2.7 times the home value. Therefore, you need to be able to move to a new house within those two years (not just make a deal with your bank to put a cap on capsim loans).
Well, capsim is a loan, but capsim loans are not easy to get. Your bank will want to see proof that you’ve paid down your capsim loan at least three months before your loan is forgiven, and you should be able to make at least a three-month payment on it. You’ll also need to make at least a ten percent down payment. After you put capsim together you’ll be able to borrow up to $1 million dollars at a 5.
That is a huge sum of money, but also a huge sum of time. With capsim finance, the bank still has the power (and the time) to make you pay that money if you don’t. This is a common loan used by banks to get you to put down a sizable down payment.
Capsim also offers a lot of perks, but the most important one is that it can be used at once. This is the one that will allow you to borrow your money without the time limit. You can borrow any amount of money you want, and capsim will only require a minimum payment of 5 percent.
The first time you use capsim finance, you will earn 100 caps on your loan. If you get more than 100 caps, you’ll get a 10 percent bonus after your first payment of 100 caps.