Tag: #Financing

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THE SCARIEST TERM IN YOUR NEW COMMERCIAL MORTGAGE

  We’ve written before about lenders raising the bar, or tightening, lending terms and conditions. One of the terms that’s started showing up in the covenants is “full recourse only”. Everything beyond the value of the property is now on the line. This was a somewhat common term in the 70’s and early ‘80s going...

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IS NOW A GOOD TIME TO BUY A HOME?

We get asked the following question quite a bit:  Is now a good time to buy?  There are more homes listed for sale today than there were a year ago.  You may not need to get into a bidding war like last year to get a home.  So, for a buyer, it seems to be...

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ANOTHER LENDER TO WHOM WE CAN BROKER: VELOCITY MORTGAGE CAPITAL

  In addition to residential loans, we broker commercial loans. One lender we can broker commercial loans to is Velocity Mortgage Capital. They lend on 1-4 unit, multi-family, mixed use, and commercial real estate. They are an asset based lender. They work with investors and business owners. They will consider the experience of the investor,...

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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....

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HOW DO ADJUSTABLE RATE MORTGAGES WORK?

An Adjustable Rate Mortgage (ARM) is typically a mortgage that is fixed for a period of time, and then becomes adjustable. The typical ARMs are 3/1, 5/1, 7/1, and 10/1. The first number represents the time period the rate is fixed. The second number represents how often the rate changes. Example: A 3/1 ARM means...

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WHY WOULD ANYONE WANT ONE?

Hard Money loans are usually obtained by borrowers who cannot qualify or the property does not qualify for conventional financing; many people doing fix and flips obtain these loans. The interest rate and costs for these loans is higher than what you can get conventionally. The reason is that there is more risk to the...

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COMMERCIAL REAL ESTATE (CRE) FINANCING & FED POLICY

Today’s post is written by Michael Green, Commercial Loan Originator for Counsel Mortgage Group, LLC. The Federal Reserve’s recent interest rate cuts have sent a surge of excitement through the commercial real estate (CRE) market. Fed influenced rates have returned to 2018 lows, however, the Fed’s interest rate reductions have little to do with conventional...

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FINANCING THE RETAIL ASSET

From a financing perspective, the retail sector continues to be challenged, but there are good gems to be acquired too. From a lender’s perspective, there are particular challenges to retail deals getting done: • lease roll overs, • expiring leases with no backfill identified, • downward pressure on retailer credit, • lack of transparency on retail...

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HELPING THE HOMELESS

HELPING THE HOMELESS Counsel Mortgage is a proud supporter of reKindle, a not for profit that helps the homeless. We participate in Second Chance Saturday where reKindle teams up with another charity, GIVE (Girls who Inspire, Volunteer and Empower) to provide backpacks, clothes, toiletries, food, water, and even massages to the homeless. We recognize how...