Have you ever wondered what happens when your lender runs a credit check when you’re applying for a mortgage loan? Check out this link https://www.consumerfinance.gov/ask-cfpb/what-exactly-happens-when-a-mortgage-lender-checks-my-credit-en-2005/ We offer a variety of products and services, ask us how we can assist you today. We work for you not the lender. Counsel Mortgage Group®, LLC Licensed in Arizona,...
Author: john (John Rapasky)
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SIGNS OF THINGS TO COME
At the beginning of November, the Fed announced that it would begin tapering its $120 billion per month asset purchasing program by $15 billion monthly. The pace of that tapering will remain closely watched over the coming year, as the Fed will continuously be juggling its dual goals of bringing long-term inflation to 2%...
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INTEREST ONLY JUMBO LOAN PRODUCTS
We offer many jumbo products, including primary residences, second homes, and investment properties, we can offer 5% down jumbo on primary residences. We also have an interest-only jumbo product available. The jumbo rates we are seeing are comparable to conforming rates. In the past when we would encourage borrowers to stay at the conforming loan...
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MOVIE NIGHT AT THE PARK
Counsel Mortgage Group is co-sponsoring movie night at Desert Horizon Park. Join us for an evening of fun, food, merriment and laughter under the stars. We’ll be presenting Elf with Will Ferrell on December 11, 2021. Event Location: 16002 N. 56th Street, Scottsdale, AZ 85254 Time: 6:00 PM – 8:30 PM...
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DON’T BE ENTICED BY PUBLISHED RATES
Published rates entice you, but may not give you the whole story: Often times we get asked, “I saw this rate on-line, can you match it?” Generally, we can, or can beat it, but you have to make sure you are comparing apples to apples. There are many factors that go into an interest rate....
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BORROWERS WHO CHOOSE TO FORBEAR
Many borrowers choose to forbear on their payments due to their personal circumstance. With that said, they cannot qualify for a new loan until they bring their payments up-to-date. When signing for the new loan, most lenders are requiring borrowers to sign a form stating that they will not forbear on the new loan. The...
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KNOWING THE DIFFERENCE BETWEEN APR AND INTEREST RATE
Here is a nice article explaining the difference between APR and interest rate. https://www.bankrate.com/mortgages/apr-and-interest-rate/ We offer a variety of products and services, ask us how we can assist you today. Counsel Mortgage Group®, LLC Licensed in Arizona, California and Hawaii www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580 CA DBO #60DBO43873 HI-178927...
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LOAN APPROVAL: DON’T TAKE IT PERSONALLY
Years ago, when our parents and grandparents went to the local bank to get a loan, they would meet with a banker who they likely knew. The banker would consider many factors, including their personal relationship, in determining whether to approve the loan. This is not the case today. Today, it is about the saleability of the loan.
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APPRAISAL REPORT: AN OPINON OF VALUE
As you know, an appraisal provides an opinion of value of the property, but, did you also know the appraisal contains comments on the condition of the property? An appraiser will comment on the condition of the property based on what they see during their visit. They will not inspect the property like a property...