If you have the ability to make a mortgage payment today, do it. Many people are taking advantage of the government’s forbearance program and choosing to delay their payments. You will ultimately have to make these payments, whether they are due at the end of the forbearance period or paid over time. However, what is...
Author: john (John Rapasky)
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COUNSEL MORTGAGE HAS VETERAN LOANS
We thank our veterans and proudly employ veterans at Counsel Mortgage Group. Our veteran originators specialize in VA loans and have closed many VA loans. Recently some of our clients have contacted us questioning why they’re being heavily solicited. Truth is, many lenders know the VA Interest Rate Reduction Refinance Loan (know in lending as...
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WHAT IF YOU CANNOT QUALIFY ON YOUR OWN?
Sometimes, you may not be able to qualify on your own. You may ask someone to sign with you to help you qualify. If so, the co-signer will have to complete a loan application and will have to qualify, too. Lenders will combine the incomes and debts of both borrowers and base the loan off...
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ARE YOU ELIGIBLE?
Not all homeowners are eligible for a reverse mortgage. Understanding reverse mortgage requirements is the first-step to take when considering applying. What are the requirements for reverse mortgage? Your home must be your primary residence. You must be current on your loan and/or federal loans, I.e. student loans, etc. You must complete counseling with...
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FED TO ACCELERATE TIGHTENING, WITH AS MANY AS THREE RATE HIKES IN 2022
As recently as March, the Fed wasn’t expected to raise rates until 2024. Now, the central bank could implement as many as three rate hikes next year. The Federal Reserve is tightening up its pandemic-era easy money policy and will increase the pace of tapering, a move that could usher in rate hikes earlier...
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COUNSEL MORTGAGE LENDS IN CALIFORNIA
Did you know Counsel Mortgage lends in California? We have been lending in California since 2015. We have closed many loans at wholesale rates and costs for our clients. If you are looking for financing in California, contact us! We work for you, not the lender. Counsel Mortgage Group®, LLC Licensed in Arizona, California and...
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COUNSEL MORTGAGE OPEN FOR BUSINESS IN HAWAII
Aloha! We closed our first loan in Hawaii, and have a few more in the works. If you’re looking for financing in Hawaii, contact us for wholesale rates and costs. We offer a variety product services, ask us how we can assist you today. We work for you, not the lender. Counsel Mortgage Group®, LLC...
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DEBT-TO-INCOME RATIO: WHAT LENDERS LOOK FOR
Debt-to-Income ratio is a comparison of monthly debts to monthly income, this is a major factor lenders consider when underwriting a loan. Lenders like to see the ratio at or below 43%, but loans have been approved up to 50%. Example: Let’s say you are salaried and gross $4,000 per month; Lenders use your gross...
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WE WORK FOR YOU, NOT THE LENDER
Mortgage lending can be complex. There are a lot of rules. Many lenders will state how it is easy and how they can quickly close the loan, until a few days prior to closing when the loan blows up and the “easy” loan is no longer so. I saw this void in the marketplace...