The CBRE Lending Momentum Index declined by 15% in Q4-22 from Q3 and 27% year-over-year. CBRE cited heightened market volatility amid higher interest rates. “The Federal Reserve’s commitment to reduce inflation with aggressive rate hikes continues to heighten market uncertainty, as borrowing costs increase and a lack of price discovery persists,” said. Rachel...
Tag: SBA
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PRINCIPAL PAYMENTS ON LOANS
Typically, when you make a large principal payment on your loan, the monthly payment remains the same, but the term of the loan shortens. However, if you wish to lower the monthly payment instead of shortening the term, ask the lender if they allow a recast. A recast is where a large principal...
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WHAT IS UNDERWRITING?
What is underwriting? Underwriting is the process of reviewing the loan package to determine whether it meets the established criteria to approve the loan. An underwriter reviews the loan package, including, the loan application, tax returns, paystubs, bank statements, retirement account statements, contract (if a purchase), title insurance, and appraisal to determine...
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ON-LINE LENDING
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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HAVE YOU CONSIDERED A CONSTRUCTION LOAN?
Are you planning to build a home? There are construction loan options for you. There are two approval processes for a construction loan: One for your credit and income. One for the construction and the building. You will need the final building plans, specs, and cost breakdown ready to give to the lender. The most...
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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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COUNSEL MORTGAGE GROUP BROKERS LOANS TO SELF-EMPLOYED HOMEBUYERS
There is some conversation out there that if you are self-employed, you cannot qualify for a loan; well, this is just wrong. If you have been self-employed for at least 2 years you may be able to qualify for a loan. Lenders will take the average of your net income over the last 2 years...
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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...