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CRIME DOESN’T PAY

DO NOT COMMIT FRAUD. When you are purchasing an investment property, apply for an investment property loan. Do not purchase an investment property and apply for a second home loan for the sole purpose of getting a lower interest rate. To do this would be mortgage fraud.   Here are a few examples of how this can affect you: 1. Insurance. The lender will make sure you have the correct insurance policy before closing. If you have a second home policy but a renter occupies the property, you run the risk that an accident would not be covered. 2. The...

RATES ARE SUBJECT TO CHANGE WITHOUT NOTICE

  Are you in the market to purchase a home, investment or commercial property?   Visit the Counsel Mortgage Group website. We provide daily rates and we are happy to discuss lending specific to your needs. We offer a variety of products and services, ask us how we can assist you today. https://counselmortgagegroup.com/todays-rates/   Counsel Mortgage Group®, LLC www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580 CA DBO #60dbo43873 Copyright © 2021 Counsel Mortgage Group®, LLC.

HOW DOES THE NEW FHA STUDENT DEBT CRITERIA WORK?

  The FHA has recently changed the way student debt is assessed and calculated for new homebuyers.   Click link for more information on how these changes could be beneficial. https://wallstreetjournal-ny-app.newsmemory.com/?publink=138aa1269_1345ddf   If you are a new homebuyer contact Counsel Mortgage Group. We offer a variety of products and services, ask us how we can assist you today.   Counsel Mortgage Group®, LLC www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580 CA DBO #60dbo43873   Copyright © 2021 Counsel Mortgage Group®, LLC.

WE OFFER 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 limit, the rates are now comparable and a higher loan amount may not penalize you in rate. With more products becoming available,  it is in your best interest to work with a mortgage broker who has access to multiple products from different lenders. If you...

HOW DO ADJUSTABLE RATE MORTGAGES WORK?

An Adjustable Rate Mortgage (ARM) is typically a mortgage that is fixed for a period of time, and then becomes adjustable. The typical ARMs are 3/1, 5/1, 7/1, and 10/1. The first number represents the time period the rate is fixed. The second number represents how often the rate changes. Example: A 3/1 ARM means the rate is fixed for 3 years, and then adjusts each year thereafter. The loan typically has a 30 year term. ARM rates are typically lower than 30-year fixed rates. If you know you will only be in the home for a short period of...

DURING DIFFICULT TIMES THERE IS HOPE

          We offer a variety of products and services, ask us how we can assist you today: Counsel Mortgage Group®, LLC 480-502-1000 www.counselmortgage.com NMLS #178927 AZ MB #0909580 CA DBO #60DBO43873 Copyright © 2021 Counsel Mortgage Group®, LLC.

BEFORE FORCLOSING CONSIDER A SHORT SALE

You have options as a homeowner but did you know you may qualify for a short sale on your home as an alternative to foreclosure?  How does a short sale work?  A qualified homeowner will sell their home for less than they owe. There are advantages to a short sale, and you may wonder where to begin.   Contact your lender immediately if you’re unable to make your mortgage payment and need to discuss  your options.   You can also contact us at Counsel Mortgage Group.  We are happy to discuss your needs and options. We offer a variety of products...

ARE YOU WILLING TO TAKE THE PLUNGE?

  In spite of low home inventory, many prospective homebuyers are still willing to take the plunge and purchase a new home, or a first home.  Interest rates have remained low and homebuyers want to take advantage of current rates even though market prices continue to rise. You may ask yourself if it’s a good or bad time to buy? Check out this article https://www.barrons.com/articles/good-bad-time-to-buy-a-home-51623165996 We offer a variety of products and services, ask us how we can assist you today. Counsel Mortgage Group®, LLC www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580 CA DBO #60DBO43873 Copyright © 2021 Counsel Mortgage...

ASSOCIATION ASSESSMENTS AND MORTGAGE PAYMENTS

  Becoming a new homeowner is both exciting, and somewhat confusing, when buying into an HOA. Some new members of an HOA may be under the impression the assessment payment is built into the mortgage payment. Assessments should be paid to the HOA, and mortgage payments are paid directly to the mortgage servicer.   If you would like to know more about buying into an HOA   We offer a variety of products and services, ask us how we can assist you today. Counsel Mortgage Group®, LLC www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580 CA DBO #60DBO43873   Copyright ©...

WHAT DOES A COMMERCIAL BRIDGE LOAN LOOK LIKE?

  We continually get calls & emails from lenders looking for deals to fund.  This is normal – the pulse of our business.  But in the last couple months the tempo has quickened.   We can arrange funding for a variety of loan types and match them to the type of product and circumstance.  Also, different type of lenders are more or less active/aggressive at any point in time depending on their circumstances and market conditions.   One of the loan types that has come into demand lately is a bridge loan.  They’re typically used in situations where there’s stress...