Here is a cheat sheet for seller concessions.
Blog
THE PROBLEM AND SOME SOLUTIONS
Commercial and multifamily mortgage loan originations decreased 13% year-over-year in Q3-22, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. A fall in originations for office, multifamily and retail led to the overall decrease in commercial/multifamily lending volumes. “After a strong first half of the year, rising interest and capitalization rates began to affect deal volume during Q3,” said Jamie Woodwell, MBA’s head of commercial real estate research. “Increasing yields across investment alternatives – including the 10-Year Treasury yield more than doubling during the first nine months of the year – have shifted property...
December 7, 2022December 7, 2022
THERE ARE MANY DIFFERENT TYPES OF MORTGAGE LOANS
There are many different types of mortgage loans: conventional, FHA, VA, USDA, jumbo, private money, investor, second/vacation home, primary residence, not so hard money, purchase, refinance. Which is the best for you? 15-year fixed, 30-year fixed, 20-year fixed, adjustable rate? We specialize in going over your scenario to find the right loan for you. We offer a variety of products, services, and broker to many lenders. Ask us how we can assist you today. 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...
December 4, 2022December 4, 2022
COUNSEL MORTGAGE GROUP BROKERS LOANS TO SELF-EMPLOYED HOMEBUYERS
There is some conversation out there that if you are self-employed, you cannot qualify for a loan; well, this is just wrong. If you have been self-employed for at least 2 years you may be able to qualify for a loan. Lenders will take the average of your net income over the last 2 years as reported on your tax return. This income can be reported in a variety of ways. For example: – On the Schedule C of your 1040, or Schedule K-1 if you file an S Corporation or Partnership return. They’ll also consider wages you pay yourself...
November 28, 2022November 29, 2022
ARE YOU LOOKING FOR A MORTGAGE LOAN?
Are you looking for a mortgage loan? Are you self-employed, write off your expenses, and get turned down by lenders because you do not show enough income? There are a variety of ways to get you qualified for a home loan under these circumstances. One way is to work with your accountant and let them know the amount of income you will need to show to qualify for a loan. Another way is to use your bank statements to calculate income. Counsel Mortgage Group, LLC is founded by an experienced Attorney and CPA who can offer a higher level of...
November 26, 2022November 26, 2022
CAN AN INVESTMENT GROUP GET FINANCING?
Are you a part of an investment group looking to purchase rental homes. Can an investment group get financing? Can you get financing if you purchase rental homes with a friend? Yes, you can.
November 22, 2022November 22, 2022
YOU ARE NOT ALONE
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 © 2022 Counsel Mortgage Group®, LLC.
November 20, 2022November 20, 2022
SHOULD I BUY A HOME NOW OR WAIT?
This is a tough question I get asked all the time, whether it is in this market, the market 6 months ago, or 15 years ago during the Great Recession. The question remains the same. Should I buy a home now or wait?
November 18, 2022November 18, 2022
ANOTHER LENDER TO WHOM WE CAN BROKER – 11 MORTGAGE
One of the advantages of being a mortgage broker is that we have the ability to shop many different lenders to find the right loan with the lowest rate and costs for your scenario. 11 Mortgage is another lender who offers conventional, VA, and FHA loans. They have competitive rates, great technology and support. There are many factors we consider when choosing a lender. A lender that offers great support, and is responsive, is critical when it comes to working with someone to close your loan on time. Contact us and we can help you.
November 18, 2022June 17, 2023
HOW CAN GIFTS BE USED TOWARDS THE PURCHASE OF A HOME?
How can gifts be used towards the purchase of a home? There are a few different ways. A gift must be made by a relative. A gift letter will need to be executed by both the donor and donee stating their relationship, the amount and date of the gift, from what account the gift is made, and that no repayment is expected. The gift is transferred from the donor’s account to the donee’s account and verification is provided to the lender. The gift funds can also be delivered directly to title at closing. Another way to give a...
November 15, 2022November 15, 2022