What can homebuyers do to prevent being scammed? Phishing scams continue to be on the rise. Especially during the loan closing process. How do scammers get your information? There are several ways to secure your information and negate the possibility for scammers to steal your closing & down payments. Check out this video from the CFPB for tips to avoid being scammed. Contact Counsel Mortgage Group and we can walk you through the process, we’re here to help. We offer a variety of products and services, ask us how we can assist you today. We work for you, not...
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COUNSEL MORTGAGE GROUP HAS CREATIVE FINANCING SOLUTIONS
Are you in the market to finance a home loan? Are you feeling deterred by current resale market prices? Counsel Mortgage Group has creative financing solutions. Have you considered a land or construction loan as an alternative? Contact us, we’re happy to explain how these loans work. We work for you, not the lender. Counsel Mortgage Group®, LLC Licensed in Arizona, California, Hawaii and Illinois www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580 CA DBO #60DBO43873 HI-178927 IL MB.6761723 Copyright © 2023 Counsel Mortgage Group®, LLC.
January 4, 2023January 5, 2023
MANY HOMES ON THE MARKET HAVE SOLAR PANELS
Many homes on the market have solar panels nowadays. Are looking to finance a home with solar panels? You should consider the following rules: Many solar companies will file a UCC-1 Financing Statement on the title of the home. Mortgage lenders will likely request it to be removed so they can secure their lien. After the mortgage is recorded, the solar company can then refile the UCC-1. Even though the home will be operating with solar power, it must maintain access to traditional electric utilities. The lender wants to ensure there is power to the property in the event...
January 1, 2023January 2, 2023
REAL ESTATE INVESTMENT PROPERTIES
Real estate investment properties are a great way to increase assets and serve well to generate a passive income. Financing an investment property requires more of a down payment than a typical mortgage and it’s important to budget for maintaining landlord related expenses. What do you do if you cannot come up with the necessary required down payment? What if you do not have cash-on-hand? You may be able to use the equity from your primary home as leverage to buy your investment property. Contact us at Counsel Mortgage Group. We can discuss your options with you...
December 29, 2022December 29, 2022
SYMMETRY LENDING
As a mortgage broker, we can broker to many different lenders. Here we feature Symmetry Lending. Symmetry offers home equity lines of credit (heloc). We are seeing more of a demand for helocs lately as property values have increased and homeowners do not want to refinance the 2-3% interest rate they have on their mortgage. Instead, they can get a line of credit as a 2nd mortgage to use for home improvement or debt consolidation. Depending on the amount you borrow, we can do an effective rate calculation, which will determine if the combined rate of the 2 mortgages would...
December 26, 2022December 29, 2022
ONE FOOT ON THE BOAT, ONE ON THE PIER
Amid signs that price growth in the U.S. economy is rapidly cooling, the Federal Reserve announced Wednesday (12-14-22) it was slowing the pace of its rate-hiking program designed to tackle inflation — but that more hikes were still on the table. The Federal Open Market Committee said it was increasing its key federal funds rate by only 0.5% this time around, after raising fed funds .75% at its previous 4 meetings. In its Wednesday statement, the Fed said it continues to target an inflation rate of 2% over the long term and would continue to increase the federal funds rate...
December 23, 2022December 24, 2022
NEWREZ WHOLESALE
As a mortgage broker, we can broker loans to many different lenders. Here we feature Newrez. Newrez recently acquired Caliber Home Loans. Newrez is a full service wholesale lender, with competitive conventional, government, and Non-QM loans (alternative documentation). They also service their own loans, which means that if your loan is brokered to Newrez, you will also make your payments to Newrez. As a broker, it is important to have relationships with multiple lenders, like Newrez. Even if a lot of the lenders offer the same products, the rates and fees of the lenders come and go. If you go...
December 21, 2022December 23, 2022
WHY IT’S NECESSARY TO PROVIDE PERSONAL INFORMATION WHEN APPLYING FOR MORTGAGE LOANS?
Why is it necessary to provide personal information when applying for mortgage loans? Applicants are asked their demographic information in order to monitor compliance with equal credit opportunity, fair housing, and home mortgage disclosure laws. You are not required to provide this information, but are encouraged to do so. The law provides that lenders may not discriminate on the basis of this information. Pursuant to the Home Mortgage Disclosure Act (HMDA), lenders collect race and ethnicity information to ensure applicants are treated fairly and the housing needs of communities and neighborhoods are being fulfilled. The Federal Equal Credit Opportunity...
December 19, 2022December 20, 2022
HAVE YOU CONSIDERED A CONSTRUCTION LOAN?
Are you planning to build a home? There are construction loan options for you. There are two approval processes for a construction loan: One for your credit and income. One for the construction and the building. You will need the final building plans, specs, and cost breakdown ready to give to the lender. The most typical loans are one-time close and two-time close construction loans: The one-time close construction loan only requires one underwrite, which is at the beginning of the process. Once you have an approval, then you can commence building. The approval is good through construction and after...
December 17, 2022December 18, 2022
JUMBO LOAN PROGRAMS
We have a variety of jumbo loan programs at Counsel Mortgage Group. VA jumbo, reverse jumbo and many more available. Before you apply for a jumbo loan, contact us. We are a mortgage broker, we shop wholesale rates and costs to see what program would be best for your scenario. We have a variety of lenders to whom we can broker who specialize in Jumbo loans. We work for you, not the lender. Counsel Mortgage Group®, LLC Licensed in Arizona, California, Hawaii and Illinois www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580 CA DBO #60DBO43873 HI-178927 IL MB.6761723...
December 14, 2022December 15, 2022