Aloha!
So I am a bit confused on how to fill out the housing information on the CSS Profile because I can’t differentiate between “amount owed on home” and “amount owed on the primary mortgage of home?” Can they be of same value?
So far I have the following values:
Monthly housing payment527
Home purchase year2012
Home purchase price90000
Current market value126000
Amount owed on home83325
Amount owed on the primary mortgage for this home83325
Thanks!
You say you owe $83325…
So what is the confusion?
I think this may answer your question. The amount owed on home CAN be different than amount owed on primary mortgage. In your example it is not. But let’s say you had a home equity loan for $10,000.
Monthly housing payment527(plus x amount home equity payment)
Home purchase year2012
Home purchase price90000
Current market value126000
Amount owed on home93325
Amount owed on the primary mortgage for this home83325. (your first mortgage)
This let’s them know you have already dipped into equity. If you do not have ant additional loan against your house the amount owed and amount on primary will be the same.