You may have heard of the First-Time Homebuyer Act of 2021, and you may have questions. How does the act work? Who is eligible? Click link to learn about how to qualify and what requirements may be needed. https://homebuyer.com/learn/15000-first-time-home-buyer-tax-credit If you have any questions about the First-Time Homebuyer Act of 2021...
Author: john (John Rapasky)
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REPAYING THE FORBEARANCE?
Did you recently get approved to forbear your mortgage payments? You may be interested to read some advice pertaining to the CARES Act and other mortgage relief received. Have you considered how you will repay the forbearance? The article provides insight regarding repayment also. If you have any questions about your mortgage or forbearance give...
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DOWN PAYMENT ASSISTANCE PROGRAMS
Let’s take a look at down payment assistance; there are programs that will actually make the down payment for you: There are different types of programs. Some which you will have to apply for separately and others that are part of the loan process. However, like anything else, these programs are not free. Although you...
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ALWAYS OBTAIN A PAYOFF STATEMENT
If you have a loan and are looking to pay it off, make sure you obtain the payoff statement. The statement is a document provided by the lender which contains the final amount to be paid to release their lien. It contains the principal balance, interest up to the date of closing, penalties (if...
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WORKING WITH A LOAN ORIGINATOR
The closer you work with your loan originator, the quicker the loan will move through the process. What is involved in the process? Step One: Complete the loan application; Lenders require a fully completed application. This includes providing a 2 year residential and employment history. Lenders will email the Loan Estimate to you within 3...
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BANKS ARE FLUSH
Heading into the second half of the year, investors say lenders are so confident in the rebound of the economy they are even willing to finance deals involving the hard-hit hotel industry! It’s a sign that deal flow is back as lenders are again competing to provide money for the property sector that suffered...
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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...