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FACTORS THAT INFLUENCE A MORTGAGE RATE QUOTE
There are a number of factors that go into a mortgage rate quote. Here are 10 factors that are considered: 1. Occupancy type – Is the home your primary residence, second/vacation home, or investment property? Rates for second/vacation homes and investment properties are typically higher than a primary residence. 2. How much is your down payment/equity in the property? 3. What is your credit score? 4. What is the property type, e.g. single family residence, townhome, condo, manufactured home? 5. Are you providing full documents for qualification, or alternative documents? 6. What type of loan are you applying for, i.e....
June 12, 2025October 20, 2025
PROFITING DURING CHAOS
Today’s post is written by Michael Green, Senior Commercial Loan Originator with Counsel Mortgage Group, LLC. Mike writes monthly on the commercial mortgage market. Check back each month for his commentary. “Patience; this is the greatest business asset. Wait for the right time to make your moves.” J. Paul Getty Timeless advice from Mr. Getty. But it begs the question: When is the right time? Nobody buys at the bottom or sells at the top. No one rings a bell or sounds the siren to alert you that the time is now. So how do you know? Knowledgeable market...
June 6, 2025June 6, 2025
QUICK TIP TO IMPROVE YOUR CREDIT SCORE
Maintaining low credit card balances can improve your credit score, and help you get better interest rates when you borrow money. You may pay your mortgage, car loan, or student loan on time, but a high credit card balance will hurt your score. For example, let’s say your credit limit on your credit card is $1,000. Pick an amount such as $300 to be your “limit,” and only charge up to $300 each billing period and then pay it off. Over time, the credit bureaus will see you can manage credit which will likely be reflected in your credit score. ...
June 5, 2025June 5, 2025
WWW.OPTOUTPRESCREEN.COM
When your credit is checked, that simple data point is sold by the credit bureaus and you will start receiving solicitations, via text, phone calls, email or mail. This is called a trigger lead. To avoid this practice, go to www.optoutprescreen.com. You can opt out immediately for 5 years, or send in a letter to permanently opt out. It can take up to 5 business days to take effect after you register. You may want to do this now, even if you aren’t planning to apply for credit any time soon, just so it is in effect when you do. ...
May 30, 2025May 30, 2025
BUYDOWNS – EXPLAINED
I’ve been getting a lot of questions lately about buydowns and how they work. They are becoming popular now because they have to be funded by the seller and sellers are willing to negotiate. There is an increased supply of homes for sale, and sellers have been reducing their prices and giving concessions towards closing costs. One thing that can help a buyer make the decision to purchase a home, is a concession towards a buydown. We are talking about temporary buydowns in this post, i.e. where the rate is bought down temporarily on an annual basis. This is different...
May 25, 2025May 25, 2025
WHEN WILL RATES COME DOWN?
This is the most common question I’m asked. It is always hard to predict where rates will go, just like it is hard to predict where stocks will go. However, during the tariff negotiations, the dollar devalued, and as a consequence, the rates on bonds and mortgage-backed securities remained high. It appears rates will remain high while tariff negotiations are ongoing. Once the negotiations resolve, certainty will come back to the markets, and activity will likely pick up. In the meantime, the inventory of homes on the market has increased, and there are more options for buyers making it a...
May 18, 2025May 18, 2025
NOW IS THE TIME TO BUY
NOW IS THE TIME TO BUY The inventory of homes for sale is growing as there are more sellers than buyers in the market. Thus, it is a good time to buy now as you will have more selection. Also, sellers may be willing to contribute towards your closing costs which you can use to buydown the rate. You may be able to buydown the rate by as much as 3%! Contact us to learn more!
May 9, 2025May 9, 2025
PRESIDENT TRUMP IS IN YOUR CORNER FOR CRE
Today’s post is written by Michael Green, Senior Commercial Loan Originator with Counsel Mortgage Group, LLC. Mike writes monthly on the commercial mortgage market. Check back each month for his commentary. Where do you find the confidence to invest in CRE in the current economic and geopolitical environment? In our BLOG 2 months ago, Jan. 25, I suggested that the market had been lulled into anticipating capital market behavior by Fed policies, i.e., watching the Fed Funds rate and gauging future actions by their narrative that followed the FOMC meetings. Now, however, given the new administration, Trump and Company,...
April 2, 2025April 2, 2025
TRUMP OPENS THE GATE FOR SMALL BUSINESS TO MAGA
Today’s post is written by Michael Green, Senior Commercial Loan Originator with Counsel Mortgage Group, LLC. Mike writes monthly on the commercial mortgage market. Check back each month for his commentary. On Jan. 31 Senator Kelly Loeffler (R-GA) appeared before the Small Business and Entrepreneurship Committee for a confirmation hearing for her proposed post as SBA Administrator. Senator Todd Young (R-IN) chairs this Committee and directed the hearing. A number of to-do’s were discussed in the hearing. (Identified by Loeffler as improvements to make, and confirmed by Young as supported by the Committee.) · Reduce barriers to access of capital...
February 24, 2025February 24, 2025