Our brokerage has the freedom to choose the lender that is right for you. By knowing the specifics of your scenario, and the nuances of the lenders, a broker can match you with the lender that fits your needs. You may ask whether this matters; aren’t all lenders the same? No, they are...
Author: john (John Rapasky)
Post
WHEN APPLYING FOR A MORTGAGE LOAN, THE DETAILS MATTER
When applying for a mortgage loan, the details matter. It is important that you provide us with all of the information, so we know how best to get the loan for you. Many times we’ll talk to someone on the phone who appears to know the process, or “has a friend” who did or...
Post
ARE YOU BEING CHARGED AN ORIGINATION FEE OR POINTS ON A LOAN?
You may hear people talking about “points” or charging a “point” on a loan; what does this mean? A point typically represents the origination fee charged by the lender to originate the loan; One point is 1% of the loan amount. Example: If you are applying for a $200,000 loan, a point would be $2,000,...
Post
ARE YOU A REALTOR LOOKING FOR A LENDING PARTNER?
Are you a Realtor looking for a lender with whom to partner? Give Counsel Mortgage a try. We are experts in mortgage finance, having closed more than a thousand loans over the years including jumbo, conforming, VA, FHA, USDA, reverse mortgages, commercial loans, and private money. We are mortgage brokers and shop wholesale rates and...
Post
DO YOU HAVE QUESTIONS ABOUT MORTGAGE INSURANCE?
Many prospective homebuyers often ask us what mortgage insurance is and how it works. Mortgage insurance is imposed when less than 20% is paid toward the down payment on a home loan or a refinance. Example: You are purchasing a single-family home for $250,000, with 10% down payment. It will be your...
Post
WE BROKER BOTH COMMERCIAL AND RESIDENTIAL INVESTMENT LOANS
We can broker residential or commercial loans on investment properties. If you are buying a 1-4 unit home, you would apply for a residential loan. If you are applying for a 5+ unit property, you would apply for a commercial loan. If you are applying for a residential investment property, plan on making a minimum...
Post
ARE YOU CONSIDERING A REVERSE MORTGAGE?
Are you considering a reverse mortgage? Are you confused and not sure what is involved in a reverse mortgage? We can remove the myths associated with reverse mortgages, and help you decide whether it is the right loan for you. We understand it is becoming a financial planning tool for fixed income borrowers who...
Post
THE FED CONTINUING TO FIGHT INFLATION – ANOTHER RATE HIKE
The FOMC unanimously decided yesterday, the 27th, to boost its target interest rate, the fed funds rate, by 75 basis points (bps), or 3/4s of a percentage point, the second time in as many meetings it has raised rates of this magnitude, marking an aggressive tightening cycle to battle the decades-high inflation rate, increasing...
Post
ARE YOU UNEMPLOYED AND LOOKING FOR A MORTGAGE LOAN?
Are you looking for a mortgage loan? Do you not have a job, do not have any income, but have money saved? You may be able to qualify. Contact us so we can go over your assets and review your scenario. We qualified borrowers based on assets alone, but you would need a substantial...
Post
WHY THE FED RAISES INTEREST RATES TO STEM INFLATION
Check out this story from USA TODAY: Why the Fed raises interest rates and more questions answered The Federal Reserve will likely raise interest rates by 0.75 percentage point this week to try to stem inflation. How do interest rate hikes work? https://www.usatoday.com/story/money/markets/2022/07/25/fed-interest-rates-hike-explained/10122115002/ Contact us if you have questions about rate hikes and...