On-line lending tends to emphasize on closing a loan quickly and making the process automated; this approach implies that counseling to find the right mortgage is not necessary, and leaves the choice of finding the right mortgage to the customer. This approach, however, may not work for the following sample of customers who may...
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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...
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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....
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JUMBO LOAN PROGRAMS
We have a variety of jumbo loan programs at Counsel Mortgage Group. VA jumbo, reverse jumbo and many more available. Before you apply for a jumbo loan, contact us. We are a mortgage broker, we shop wholesale rates and costs to see what program would be best for your scenario. We have a...
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ARE YOU HAVING DIFFICULTIES WITH YOUR LENDER GETTING A MORTGAGE LOAN?
Are you having difficulties with your lender getting a mortgage loan? There is now finally an answer. Counsel Mortgage is the only mortgage broker founded by an Attorney/CPA who originates mortgage loans. We issue spot troubled items up front, and advise you of the potential pitfalls of your loan. If you have less than perfect...
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ALL-IN-ONE LOAN PRODUCTS
A very interesting loan product that can help monthly positive cash-flow consumers pay-off their mortgage sooner is the All-In-One. You don’t hear of this product much in the U.S., but similar products have been offered in Western Europe, Canada, New Zealand and Australia. It is called All-In-One because it combines both a home loan...
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SPEC HOMES FOR PROFIT
We have products for builders who are building spec homes for profit. The minimum loan amount is $150,000 with a maximum loan amount of $3 million. For us to review your scenario we need the detailed budget, construction schedule/development phases, and architect drawings. The lender considers the following in the credit decision: ● Borrower characteristics/Total...
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CONTRIBUTIONS TOWARD CLOSING COSTS
Contributions toward closing costs allow costs at closing and prepaid expenses to be paid by interested parties to the transaction. So, if you only have the down payment, or are looking to do a no down payment loan and do not have much cash, you can negotiate to have the closing costs paid for...
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WE WORK WITH LENDERS WHO UNDERWRITE TO EITHER DU OR LPA
What is DU and LPA, you might ask? Loan Originators use both DU and LPA automated underwriting programs. DU is Desktop Underwriter and is Fannie Mae’s underwriting software. LPA is Loan Product Advisor and is Freddie Mac’s underwriting software; most conforming loans are run through one of these software programs. These programs dictate details...
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GIFT OF EQUITY FOR DOWN PAYMENTS
You may, or may not be familiar with a gift of equity. What is a gift of equity? Perhaps your child is looking to purchase a home and you are ready to sell your home. Your child has expressed an interest in living in the childhood home instead of you selling it to a third...