When looking to purchase a home there are many factors which determine the type of loan. Our experienced Mortgage Brokers will ask some simple questions to get you on the right path. For example, do you have little down payment or do you need to sell your home/other property to qualify? Do you have less than perfect credit? Do you have stellar credit and are looking to buy the big dream home and looking for a jumbo loan? By asking simple yet informative questions we will be able to find the right loan for you....
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ARM PRODUCTS
How does an ARM (adjustable rate mortgage) work? Many ARMs are like the 5/1 ARM, where the rate is fixed for the first 5 years of the loan, and then adjusts every year thereafter for the balance of the loan term. There is another ARM product called the 5/5 ARM. This product has a low initial fixed rate for five years, and then adjusts and is fixed for another five years. Thus, there are only 2 adjustments to the rate over the first 15 years of the loan. It will adjust to the 5-year CMT (Constant Maturity Treasury index)...
WE HAVE RESOURCES FOR YOU
Are you considering financing, or refinancing a home loan? We have an extensive library of information for you on our website. Click Here https://counselmortgagegroup.com/blog-categories/ 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, California and Hawaii www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580 CA DBO #60DBO43873 HI-178927 Copyright © 2022 Counsel Mortgage Group®, LLC.
USE CAUTION WHEN SHOPPING ONLINE
Many consumers make purchases online more than ever. Proceed with caution. It is easy to click on the wrong prompt and be misled to a site not related to your desired purchase. Always verify you are on the merchants official site. Be careful when answering unexpected text messages and emails too. In some cases, you may inadvertently damage your credit by clicking a misleading link. Are you planning to finance a home or refinance your current home loan? Contact us at Counsel Mortgage Group, we’re here to help. We offer a variety of products and services, ask us how...
BE PREPARED FOR A MORE AGGRESSIVE FED
The FOMC made it clear on Wednesday, 2-2, (as clear as they make anything) that rate hikes are imminent. Chairman Powell projected a hawkish tone in his post-meeting press conference leaving open the possibility of several sequential rate hikes this year. A 125 bps (basis points) total rate increase this year (five 25 bps hikes) is now almost a certainty, according to the fed funds futures market. (See chart , 1-31-22) Wells Fargo’s Economic Department offers the following opinion (1-28-22): We now think it is likely that the Committee will hike rates by 25 bps at the March 16, May...
BUILDING RELATIONSHIPS
Counsel Mortgage Group, LLC was honored to sponsor the first Pinnacle Peak Home Tour this year at Grayhawk Country Club. We are available to speak to your group or real estate company. Contact us and we can help you close more transactions. 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, California and Hawaii www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580 CA DBO #60DBO43873 HI-178927 Copyright © 2022 Counsel Mortgage Group®, LLC.
IS THAT A PROBLEM?
Were you in the process of financing a home and now you’ve found yourself without a job? Is that a problem? Many have been temporarily laid-off due to current times but there are other forms of compensation you may not have considered. Here are some forms of compensation that are acceptable to apply for a loan, other than income from a job:
WANT SOME INSIGHT ON MORTGAGES?
Want a behind the scenes look at mortgages? Check out this article that gives you some insight on mortgages and the secondary market. Learn how the government, Fannie Mae and Freddie Mac have profited, and how the government is assessing a fee on mortgages that could increase rates.
IF YOU CAN, DO IT
If you have the ability to make a mortgage payment today, do it. Many people are taking advantage of the government’s forbearance program and choosing to delay their payments. You will ultimately have to make these payments, whether they are due at the end of the forbearance period or paid over time. However, what is not clear today are the consequences of not making a timely mortgage payment. If you do not make the payment, there could be mortgage lates that appear on your credit report and could negatively impact your credit score. This could hurt your ability to refinance your...