Author: john (John Rapasky)

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3 BUREAU CREDIT REPORTS

  Credit reports can affect many aspects of our lives. Whether you’re buying a home, seeking employment, or financing a vehicle.   Check out this article about credit reports and how information is collected for reporting. There are also helpful tips on how to maintain good credit or how to rebuild your credit.   https://www.forbes.com/advisor/credit-score/3-credit-bureaus/...

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DEFINING PITIMI

  The acronym PITIMI represents the components of the monthly mortgage payment. It is defined as follows: • P = Principal • I = Interest • T = Real estate taxes • I = Insurance • MI = Mortgage Insurance The principal is the amount paid against the borrowed funds per month. Interest is the...

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ALOHA HAWAII, WE HAVE AN EXCITING ANNOUNCEMENT!

  We are now licensed and providing services in Hawaii as well as Arizona and California! Contact Counsel Mortgage Group. We can find you the best mortgage product for both residential and commercial loans, at the lowest rate and cost.  We offer a variety of products and services, ask us how we can assist you...

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DETERMINING MORTGAGE RATES

  How do lenders determine mortgage rates? Lenders consider many factors when determining rates; risk, credit history, loan to value ratio, and economy to name a few.   Here is a great article on lending and mortgage rate determining factors:   https://www.nerdwallet.com/article/mortgages/how-are-mortgage-rates-determined   Contact Counsel Mortgage Group. We have many qualified originators and we offer...

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MORTGAGE PAYMENT POSTPONEMENT

Many homeowners have been affected by the pandemic and some are struggling to make their mortgage payments. There are many resources and programs to assist homeowners in need. Here’s a great resource https://www.consumerfinance.gov/…/mortgage-and-housing…/ Check out this quick video for steps on mortgage forbearance due to coronavirus https://www.youtube.com/watch?v=0UzmTxYmw94 We welcome you to contact us at Counsel...

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INVESTMENT OPTIONS

The following is a little help to analyze your options. Let’s say you worked hard and saved money over the years. It is sitting in your checking or savings account, and making little or no interest. You’d like to have your money work for you. You are considering investment options, such as stocks, mutual funds...

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MORTGAGE BROKER

There are many benefits to using a mortgage broker for both commercial and residential loans. Mortgage brokers have greater sources and access to wholesale rates and costs. Here’s a great article on commercial lending: https://marshallcf.com/how-to-get-the-best-possible-loan…/ Contact Counsel Mortgage. We have many originators who specialize in both commercial and residentials loans. We offer a variety of...

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DO YOU OWN A RENTAL PROPERTY?

  Do you own rental property?  Are you interested in financing a new home or another rental property?  How should you factor in the rental income? If you own rental properties, you can include the net rental income for qualification. If you owned the rental for less than a year, and it does not appear on...

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PRIOR TO FUNDING CONDITIONS

  Typically, in Arizona, the loan documents are sent to the lender for review after you sign them. In some instances, there are prior to funding conditions that need to be reviewed. If these conditions are in order, then the lender will fund the loan. The lender’s funds typically have to clear through the Federal...