When is the best time to lock an interest rate? I get asked this question often as everyone wants the lowest rate. Interest rates, like stocks, change daily; it is hard to predict whether the rate will go up or down. It is best to see what your payment is at the current rate, and take a look at what the payment would be if the rate increases or decreases by ⅛. Interest rates are quantified by ⅛ s, such as 3 1/8%, 3 1/4%, etc. You will then be able to calculate the risk. Example: if a difference in...
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THE RUN-UP IN MORTGAGE RATES
The recent rate increases have stalled the demand for mortgage refinancing. Applications fell 5% last week according to the Mortgage Bankers Association’s seasonally adjusted index. How does this affect homeowners considering refinancing their mortgage loans?
March 12, 2021March 12, 2021
REVERSE OR FORWARD MORTGAGE?
What is the difference between forward and reverse mortgage? Reverse mortgage, money is borrowed, the loan is secured by your home, but you don’t have to pay it back with money out of your pocket. The loan is paid by the equity in your home; the mortgage balance increases over time. One way to understand what reverse mortgage is, is to understand forward mortgage. A forward mortgage is the mortgage you know, you borrow money, the loan is secured by your home and you pay it back. Reverse mortgage is a good loan if you are on a fixed income...
March 10, 2021March 10, 2021
MORTGAGE DELINQUENCY
Mortgage delinquency is typically a good marker for revealing economic distress. If you’re in the market to buy or sell a home, or make an investment, knowing the mortgage delinquency rate is important. The Consumer Financial Protection Bureau has data, and graphs showing where the market was in 2008 compared to today. https://www.consumerfinance.gov/…/mortgages-90-or-more…/ 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.
March 6, 2021March 6, 2021
HISTORIC LOWS
You may have heard that rates have increased slightly. Nonetheless the rates are still historically low. It is still a good time to buy, or refinance. You can check rates daily. 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.
March 4, 2021March 4, 2021
DEFINE FORBEARANCE
Due to the pandemic, many homeowners are struggling with making their mortgage payments. Forbearance may be an option for them. What is forbearance? Here is an article that gives you what you need to know regarding forbearance: 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.
March 2, 2021March 3, 2021
LOANS FOR INVESTMENT PROPERTIES
Are you interested in investment properties but do not have the capital to invest? Do you wonder how much money is needed? What if you cannot qualify? There are a few steps to take to get started. To see what the requirements are for investment property loans, We are a mortgage brokerage. Our skilled originators can provide straight talk and sound advice, we’re here to help. 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...
February 28, 2021February 28, 2021
PROFESSIONALISM, QUALITY, RESPONSIVENESS
It is our mission at Counsel Mortgage Group to provide you with nothing less than excellence. We would like to thank Heath Harris for leaving us a review. “John was amazing! He was with me every step of the way as I bought my first home. He was prompt and friendly and took time to explain everything in a way that I could understand. Very knowledgeable and professional, I would recommend the Counsel Mortgage Group to anyone. Thank you John!” Contact us, we’re here to help you through the mortgage loan process. We offer a variety...
February 27, 2021February 27, 2021
WAYS TO HOLD TITLE TO REAL ESTATE IN ARIZONA
Here is an excellent article on how to take title to real estate in Arizona. This blog appears on the Professional Escrow Resources website, www.docprepper.com. Thanks to Shari Nestor of Professional Escrow Resources for her permission to allow us to repost. Ways to Hold Title to Real Estate in Arizona – Professional Escrow Resources https://docprepper.com/ways-to-hold-title-to-real-estate…/ Professional Escrow Resources is a Professional Document Preparation company. Check out their website to see their list of services. 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...
February 22, 2021February 23, 2021