Blog

PHYSICIAN HOME LOANS

We have closed many loans for physicians over the years. In some instances, they will want to purchase a home prior to starting employment. Their employment agreement may contain contingencies that must be met prior to starting work. We researched the guidelines and have closed loans for doctors before they start employment, even if they have not yet completed the background checks and other contingencies of employment. If you are a physician looking for a home loan, give us a call, we can help. To see other posts and videos in our series, click here: https://counselmortgagegroup.com/blog/ Counsel Mortgage Group®, LLC...

THANK YOU VETERANS!

We thank you for serving our country, and putting your life on the line to protect us here at home. We commend your bravery and selflessness. We are proud to work with veterans, including those that work in our company. One of the great VA benefits is the VA home loan. This allows a veteran, or surviving spouse, to purchase a home with no money down, no mortgage insurance, and if disabled, no funding fee. Rates are typically better than conventional loans. Closing costs can be paid by the seller. So, you can purchase a home without putting any money...

SCARY RATES – CONSIDER A BUYDOWN

With mortgage rates being the highest they have been in many years, you may be scared to finance a home. However, there are tools by which to combat these higher rates. Buydowns are a way to lower the interest rate. A permanent buydown is where the rate is bought down permanently for the life of the loan. This buydown can be paid by you or the seller. A temporary buydown is where the rate is temporarily bought down for the first few years of the loan. For example, a 2/1 buydown lowers the rate by 2% in the first year...

COMMERCIAL MORTGAGE REFINANCE

Many commercial mortgages are fixed for 5-7 years, and then become due. These loans may have been originated before or during the pandemic at much lower rates than today. You may find yourself in a position where your Note is coming due. We can help you find refinancing options. We are mortgage brokers and can shop lenders to find the best deal for you in today’s environment. Don’t feel that you are stuck with staying with the same bank at their rates. Contact us and we can help. To see other posts and videos in our series, click here: https://counselmortgagegroup.com/blog/...

ARCHITECTURE TOUR

Here is a great opportunity to tour luxury properties that are not on the market, meet the architects, enjoy food and drinks, and talk with knowledgeable people in the luxury home space. On Thursday, October 26th, come join me at the Desert Modern Architecture Tour, flyer below, from 4-7 pm. The cost is $50, with proceeds benefiting the Member Relief (Hutch) Fund which benefits people who suffer a catastrophic event such as a tragedy, disaster or illness that would prevent them from working and being able to support their family and are members of the Scottsdale Area Association of Realtors....

TROUBLE GETTING APPROVED FOR A MORTGAGE?  CONTACT US, WE CAN HELP

With increased interest rates and values for homes, you may find you are having trouble getting approved for a mortgage. We are mortgage brokers and have relationships with many different lenders, including, but not limited to, banks, credit unions, wholesale mortgage companies, insurance companies, and private individuals. There are more products available today than there have been in a long time. We shop these sources to find the best program for you. Give us a call and we can help.

FREE CONTINUING EDUCATION HOUR FOR REALTORS

Join us Oct. 17th at 11 am at Pioneer Title Agency in Tucson, AZ for a free ADRE continuing education hour. I will be presenting a class on real estate finance, similar to the class I presented at the State Bar this summer. We will go over the different types of loans available, while sharing my experience and tricks of the trade I’ve learned over the years. There are so many products available today and ways to get your clients approved. RSVP to Pioneer Title. Looking forward to seeing you there!

HOW HIGH AND HOW LONG, MR. POWELL?

Today’s post is written by Commercial Loan Originator Mike Green. The FOMC’s pause on interest rate hikes at the September meeting a couple weeks ago wasn’t a surprise. Inflation has continued to subside, labor has cooled, and supply chains continue to improve. In justifying the pause, they cite: Job gains have slowed but remain strong, The unemployment rate has remained low, Inflation remains elevated, The U.S. banking system is sound and resilient, (We could argue that.) Tighter credit conditions are likely to weigh on economic activity. And then, acknowledging the elephant in the room, “The extent of these effects remains...

COUNSEL MORTGAGE PROVIDES FINANCING FOR CONSTRUCTION OF SHOPPING CENTER

We are excited to help our client finance the construction of a retail center in Avondale. It will be located on the southeast corner of Avondale Boulevard and The Boulevard. It will consist of a Mexican restaurant, Vietnamese sandwich shop, a nail salon, and a health salon. The completion of the project is scheduled for the 1st quarter of 2024. If you are looking for construction financing of commercial or residential projects, give us a call.

REVERSE MORTGAGES

We are finding that reverse mortgages are becoming more of a financial planning tool. If you are at least 55 years old, and have around 50% equity in your home, you may want to consider a reverse mortgage. In a reverse mortgage, you don’t make out-of-pocket payments on the mortgage, rather the equity in your home makes the payments as the principal balance increases over time. You have to occupy the home as your primary residence, and you can stay in the home for the rest of your life, even if the mortgage balance exceeds the value of your home....