We thank our veterans and proudly employ veterans at Counsel Mortgage Group. Our veteran originators specialize in VA loans and have closed many VA loans. Recently some of our clients have contacted us questioning why they’re being heavily solicited. Truth is, many lenders know the VA Interest Rate Reduction Refinance Loan (know in lending as IRRRL) requires minimal effort to process and close. Be careful, and make sure the refinance benefits you, the veteran, not the lender. To be eligible for the loan you must already have VA loan, are using the IRRRL to refinance the VA loan, and certify...
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WHAT IF YOU CANNOT QUALIFY ON YOUR OWN?
Sometimes, you may not be able to qualify on your own. You may ask someone to sign with you to help you qualify. If so, the co-signer will have to complete a loan application and will have to qualify, too. Lenders will combine the incomes and debts of both borrowers and base the loan off of the lower of the two credit scores; both borrowers will be on the loan and on the title. So, if you cannot qualify on your own, consider adding a co-signer. Contact us, we’re happy to help. We offer a variety of products and services,...
January 13, 2022January 13, 2022
ARE YOU ELIGIBLE?
Not all homeowners are eligible for a reverse mortgage. Understanding reverse mortgage requirements is the first-step to take when considering applying. What are the requirements for reverse mortgage? Your home must be your primary residence. You must be current on your loan and/or federal loans, I.e. student loans, etc. You must complete counseling with HUD Contact Counsel Mortgage Group. 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...
January 9, 2022January 9, 2022
FED TO ACCELERATE TIGHTENING, WITH AS MANY AS THREE RATE HIKES IN 2022
As recently as March, the Fed wasn’t expected to raise rates until 2024. Now, the central bank could implement as many as three rate hikes next year. The Federal Reserve is tightening up its pandemic-era easy money policy and will increase the pace of tapering, a move that could usher in rate hikes earlier than expected, according to a statement released at the conclusion of the central bank’s latest policymaking meeting. In light of inflation developments and the further improvement in the labor market, members of the Fed’s policymaking committee voted unanimously to wrap up its massive bond-buying...
December 31, 2021December 31, 2021
COUNSEL MORTGAGE LENDS IN CALIFORNIA
Did you know Counsel Mortgage lends in California? We have been lending in California since 2015. We have closed many loans at wholesale rates and costs for our clients. If you are looking for financing in California, contact us! 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 © 2021 Counsel Mortgage Group®, LLC
December 28, 2021December 28, 2021
COUNSEL MORTGAGE OPEN FOR BUSINESS IN HAWAII
Aloha! We closed our first loan in Hawaii, and have a few more in the works. If you’re looking for financing in Hawaii, contact us for wholesale rates and costs. We offer a variety product 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 © 2021 Counsel Mortgage Group®, LLC
December 27, 2021December 28, 2021
DEBT-TO-INCOME RATIO: WHAT LENDERS LOOK FOR
Debt-to-Income ratio is a comparison of monthly debts to monthly income, this is a major factor lenders consider when underwriting a loan. Lenders like to see the ratio at or below 43%, but loans have been approved up to 50%. Example: Let’s say you are salaried and gross $4,000 per month; Lenders use your gross wages, not take home, for calculating the ratio. Assume your proposed house payment is $1,000, you pay $400 in student loans and another $300 per month for an auto loan. Also suppose you have a credit card balance of $3,000 that requires a minimum monthly...
December 20, 2021December 20, 2021
WE WORK FOR YOU, NOT THE LENDER
Mortgage lending can be complex. There are a lot of rules. Many lenders will state how it is easy and how they can quickly close the loan, until a few days prior to closing when the loan blows up and the “easy” loan is no longer so. I saw this void in the marketplace and decided to get into mortgage lending almost 20 years ago. My background as an experienced CPA and Attorney is unique in this industry and gives me a substantial leg up on the competition when it comes to finding a financing solution and being able...
December 15, 2021December 15, 2021
WHAT HAPPENS WHEN THE LENDER RUNS YOUR CREDIT?
Have you ever wondered what happens when your lender runs a credit check when you’re applying for a mortgage loan? Check out this link https://www.consumerfinance.gov/ask-cfpb/what-exactly-happens-when-a-mortgage-lender-checks-my-credit-en-2005/ 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 © 2021 Counsel Mortgage Group®, LLC.
December 13, 2021December 13, 2021
SIGNS OF THINGS TO COME
At the beginning of November, the Fed announced that it would begin tapering its $120 billion per month asset purchasing program by $15 billion monthly. The pace of that tapering will remain closely watched over the coming year, as the Fed will continuously be juggling its dual goals of bringing long-term inflation to 2% while supporting the recovery of “full employment.” While the post-COVID economic recovery has had a quick start, there are a number of predictions that continue to miss, from inflation rates to the pace of job growth. For real estate investors, two things appear clear....
December 3, 2021December 3, 2021