You may be wondering why your interest rate is different from your friend’s, even though you both locked the rate at the same time. There are many factors that go into determining the interest rate. First is your credit score. The higher the score, the better the rate. Here is a blog we wrote on...
Author: john (John Rapasky)
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I THINK I’LL WAIT FOR RATES TO GO LOWER
Here’s a blast from the past! Check out this video from the early ‘80s where buyers were hesitant to purchase a home because the interest rates were at 18%, and they wanted to wait until they came down. Lenders were offering a variety of creative financing options to help them, such as buydowns and contributions...
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BRIDGE LOANS
A bridge loan is where you use the equity in your current home to help you finance the purchase of a new home. In other words, you leverage the equity in your current home and use it as a bridge to get you into the new home. We have done many of these loans over...
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MORTGAGES AND DIVORCE
If you are considering a divorce, you may want to purchase or sell real estate prior to filing for the divorce. If the divorce is filed, lenders may not approve the loan until after the divorce is finalized and the divorce decree is entered by the Court, or a legal separation agreement is signed by...
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INVESTMENT PROPERTY – HOW MUCH TO PUT DOWN?
Are you thinking about buying an investment property in 2024? You hear interest rates may be coming down, and property values have leveled. You may be concerned that if rates go lower, more buyers would enter the market thereby driving prices up and making it harder to purchase a property. So, now may be a...
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CRE Borrowing in 2024
The Federal Reserve stands at a juncture as it deliberates on its interest rate policy for 2024. The Fed faces the delicate task of balancing a seemingly robust economic recovery against inflationary pressures that appear to be subsiding. Interest rates were left unchanged at a range of 5.25% to 5.50% by the Fed at its...
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2023 YEAR IN REVIEW
Although the last year was one of the toughest years in mortgages in decades, Counsel Mortgage continued to grow. Several Loan Originators decided to hang their licenses with us. We also increased our social media presence with instructive videos. We strive to counsel you to help you make a well-informed decision when it comes to...
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HOW QUICKLY WILL MORTGAGE RATES COME DOWN AS A RESULT OF THE FED’S ANNOUNCEMENT YESTERDAY?
The Fed’s announcement was very encouraging. They said they will likely no longer increase the Fed Funds rate, and look to decrease the rate next year. This is big news. The stock markets took off, and the Dow reached a record high. As a result of this good news, how quickly will mortgage rates come...
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ARE YOU A REAL ESTATE PROFESSIONAL LOOKING TO TEAM UP WITH A LENDER? CONSIDER COUNSEL MORTGAGE GROUP, LLC
Are you a real estate agent looking to team up with an experienced professional lender? Consider us, Counsel Mortgage Group, LLC. We are a mortgage brokerage and shop many different investors to finance your transactions. We have worked with banks, credit unions, non-bank mortgage companies, insurance companies, private money investors, and others over the years....