The answer is Yes! Do you receive social security income, disability income, pension, annuity, or some other type of fixed income payment? Do you have money saved, but are currently not receiving any income? We have closed many loans where a monthly draw was setup out of a retirement account to demonstrate income to qualify for the loan. We can also do an asset depletion calculation where we take a percentage of the assets as income for qualification. These are just a few ways we have qualified borrowers. Are you having trouble qualifying? Contact us and we can...
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2023 LOAN LIMITS – MARICOPA COUNTY, AZ
The loan limits for Maricopa County, AZ increased this year. The conforming loan limit for 2023 is $726,200 and the FHA loan limit is $530,150. This means that conforming loan amounts up to $726,200 will be able to take advantage of the conforming rates, and loan amounts up to $530,150 can qualify for FHA financing. The purchase prices would be in excess of these limits. We have very competitive wholesale rates for conforming and FHA loans. If you are in another state or county, contact us and we can check your loan limits. We work for you, not the lender. ...
January 17, 2023January 17, 2023
DO YOU HAVE CONCERNS ABOUT PURCHASING A HOME WITH THE CURRENT MARKET RATES?
Are you looking to purchase a home in this market? Are you concerned about the high rates and unsure about your payment? We specialize in high level advice to weigh your options and find a product with the lowest payment for you. Don’t leave this decision in the hands of a loan officer who can only offer his employer’s products. We are mortgage brokers and shop wholesale lenders to find the right product for you. Founded by an experienced attorney and CPA, we offer a level of advice that is unmatched in the industry. We work for you, not the...
January 15, 2023January 15, 2023
ARE YOU CONSIDERING A BRIDGE LOAN?
A bridge loan works nicely if you need the proceeds from the sale of your current home to purchase a new home. In essence, the bridge loan gives you an advance of the proceeds from the sale of your home to purchase the new home. It is a temporary loan to help you purchase a new property without selling your current property. You typically need a lot of equity in your current home for the loan to work. The bridge loan lends on both your current home and the home you are purchasing, so it is a cross-collateral loan...
January 12, 2023January 12, 2023
ANOTHER LENDER TO WHOM WE CAN BROKER – PLAZA HOME MORTGAGE
As a mortgage broker, we can broker loans to many different lenders. Here we feature Plaza Home Mortgage. Plaza is a full-service lender with renovation loans, reverse mortgages, conventional, FHA, and VA loans. With renovation loans, you can include the costs of home improvements into the loan. If you are purchasing a home and want to include the improvements in the purchase price and loan, you may want to consider a renovation loan. Reverse mortgages are loans where you do not have to make a monthly payment, rather your home makes the payment for you in that the principal balance...
January 11, 2023June 17, 2023
WHAT CAN YOU DO TO PREVENT BEING SCAMMED?
What can homebuyers do to prevent being scammed? Phishing scams continue to be on the rise. Especially during the loan closing process. How do scammers get your information? There are several ways to secure your information and negate the possibility for scammers to steal your closing & down payments. Check out this video from the CFPB for tips to avoid being scammed. Contact Counsel Mortgage Group and we can walk you through the process, we’re here to help. We offer a variety of products and services, ask us how we can assist you today. We work for you, not...
January 6, 2023January 7, 2023
COUNSEL MORTGAGE GROUP HAS CREATIVE FINANCING SOLUTIONS
Are you in the market to finance a home loan? Are you feeling deterred by current resale market prices? Counsel Mortgage Group has creative financing solutions. Have you considered a land or construction loan as an alternative? Contact us, we’re happy to explain how these loans work. We work for you, not the lender. Counsel Mortgage Group®, LLC Licensed in Arizona, California, Hawaii and Illinois www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580 CA DBO #60DBO43873 HI-178927 IL MB.6761723 Copyright © 2023 Counsel Mortgage Group®, LLC.
January 4, 2023January 5, 2023
MANY HOMES ON THE MARKET HAVE SOLAR PANELS
Many homes on the market have solar panels nowadays. Are looking to finance a home with solar panels? You should consider the following rules: Many solar companies will file a UCC-1 Financing Statement on the title of the home. Mortgage lenders will likely request it to be removed so they can secure their lien. After the mortgage is recorded, the solar company can then refile the UCC-1. Even though the home will be operating with solar power, it must maintain access to traditional electric utilities. The lender wants to ensure there is power to the property in the event...
January 1, 2023January 2, 2023
REAL ESTATE INVESTMENT PROPERTIES
Real estate investment properties are a great way to increase assets and serve well to generate a passive income. Financing an investment property requires more of a down payment than a typical mortgage and it’s important to budget for maintaining landlord related expenses. What do you do if you cannot come up with the necessary required down payment? What if you do not have cash-on-hand? You may be able to use the equity from your primary home as leverage to buy your investment property. Contact us at Counsel Mortgage Group. We can discuss your options with you...
December 29, 2022December 29, 2022
SYMMETRY LENDING
As a mortgage broker, we can broker to many different lenders. Here we feature Symmetry Lending. Symmetry offers home equity lines of credit (heloc). We are seeing more of a demand for helocs lately as property values have increased and homeowners do not want to refinance the 2-3% interest rate they have on their mortgage. Instead, they can get a line of credit as a 2nd mortgage to use for home improvement or debt consolidation. Depending on the amount you borrow, we can do an effective rate calculation, which will determine if the combined rate of the 2 mortgages would...
December 26, 2022December 29, 2022