As I commented only a couple letters ago, pre-COVID-19 (paraphrased) … “It’s very difficult to make predictions, especially about the future.” Yogi Berra Yet, here we are! While we’re much more accurate reporting the past and extrapolating into the future, the recent data is largely irrelevant, and hence the process doesn’t serve us at this time. However, before we fly in the face of popular opinion, we feel obliged to share with you what that popular opinion is. “We are not lending any new money,” said David Druey, Centennial Florida Regional President, Pompano...
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WE CAN COUNSEL YOU, WE’RE HERE TO HELP
If you are looking for financing to purchase a home, or refinancing options, we can help you. Whether you have perfect credit, a great job, or less than perfect credit and no job due to unprecedented current conditions, we can counsel you to help you access the options. We are mortgage brokers and have access to numerous wholesale lenders. So, we can shop and find the best product that fits your scenario if you cannot yet qualify, we can advise you what to do in order to qualify, and we do this for free; because of the breadth of products...
April 27, 2020April 27, 2020
FAST TALKING
You’ve probably heard a lot of ads on the radio promising low rates and quick turnaround times for approval. Did you also notice how the ad speeds up during the disclaimer portion of commercial? Ads are meant to get your attention but do you always get straight talk and information? We are a mortgage broker, and search wholesale lenders to find the best rate and costs. It’s pretty simple and straight forward. 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...
April 26, 2020April 26, 2020
SMALL BUSINESS ACT
The SBA is the Small Business Administration and offers business loans. The most common types refer to Sections 504 and 7(a) of the Small Business Act. If you’re looking for a small business loan to purchase commercial real estate or heavy machinery/equipment, then the 504 loan is the best choice. If you are purchasing a business or getting working capital, then the 7(a) loan is preferred. The 504 loans are typically structured with a participating lender covering up to 50% of the total project costs, SBA providing 40% of the total project costs, and the borrower contributing 10%. 504 loans...
April 25, 2020April 25, 2020
IS NOW THE RIGHT TIME TO REFINANCE OR SHOULD I WAIT?
Refinancing, is now the right time? Well, in short, it really depends on your situation. Each individual’s scenario is different. Not withstanding COVID 19 now may be a great time to refinance. Contact Counsel Mortgage Group and we can counsel you through this decision. 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 © 2020 Counsel Mortgage Group®, LLC.
April 22, 2020April 22, 2020
HAS JUMBO LOAN MONEY DRIED UP?
Did you recently hear jumbo loans are no longer available and those monies have dried up? Is this factual? No, not necessarily. There are many lenders still lending jumbo money. What is a jumbo loan you might wonder. A jumbo loan is any loan in excess of $510,400.00. Contact us about creative financing, jumbo loans and conforming loans. We broker loans in both Arizona and California. 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 © 2020 Counsel Mortgage...
April 22, 2020November 22, 2020
WHERE ARE RATES TODAY?
The current market has been volatile and rates did increase but as the markets stabilize the rates may come back down. Do you have questions regarding refinancing? Contact Counsel Mortgage Group, we are here to counsel you through these decisions! – Text refi to 411923 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 © 2020 Counsel Mortgage Group®, LLC.
April 18, 2020April 18, 2020
THE BIG ELEPHANT IN THE ROOM
COVID 19 and CARES Act are on the forefront of many minds currently. You may have heard that you can forbear on your mortgage payments during the COVID 19 pandemic. The first thing you need to do is contact your servicer. Make sure you understand how forbearance works and if it’s right for you long term; you may have to repay skipped payments later. If you decide forbearance isn’t the option you were looking for contact us at Counsel Mortgage Group. We are a mortgage broker. We have a variety of programs you may be unaware of that may better...
April 17, 2020April 17, 2020
LOW RATE ADS
You’ve most likely heard on the radio lenders boasting they can get you approved in minutes or days by simply going to the website and clicking a button. Is that all it takes nowadays to get approved and to go to closing? Can you close the loan right after you are approved in mere minutes? Well, the short answer is no. By “approval”, they may mean their computer program analyzes the data you input, and qualifies you for the loan. However, what they fail to tell you is that you still need to sign an application package and submit supporting...
April 16, 2020April 16, 2020
INVESTMENT PROPERTY PURCHASES AND QUALIFYING
If you are going to purchase an investment property, you want to make sure the rental income covers the mortgage payment. In addition, you should budget a cushion, i.e. rental income that more than covers your mortgage payment and gives you some profit each month. You can put the profit aside and keep it in a fund for repairs that may become necessary over time, or pocket it. When lenders qualify you, they make the same considerations. They will take the market rental income as determined by the appraiser and use that amount to offset the mortgage debt. Thus, the...
April 15, 2020April 15, 2020