If you are considering a divorce, you may want to purchase or sell real estate prior to filing for the divorce. If the divorce is filed, lenders may not approve the loan until after the divorce is finalized and the divorce decree is entered by the Court, or a legal separation agreement is signed by the parties and entered with the Court. The reason for this is contingent liabilities, i.e. debts to be attributed to you as a result of the divorce which would affect your ability to qualify for a loan. Even after the divorce is final, and the...
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INVESTMENT PROPERTY – HOW MUCH TO PUT DOWN?
Are you thinking about buying an investment property in 2024? You hear interest rates may be coming down, and property values have leveled. You may be concerned that if rates go lower, more buyers would enter the market thereby driving prices up and making it harder to purchase a property. So, now may be a good time to buy. How much down payment is needed to purchase an investment property? Conforming loans require a minimum of 15% down payment. But, the discount fees to get a loan at this down payment level are pretty high. It may make more sense...
January 4, 2024January 4, 2024
CRE Borrowing in 2024
The Federal Reserve stands at a juncture as it deliberates on its interest rate policy for 2024. The Fed faces the delicate task of balancing a seemingly robust economic recovery against inflationary pressures that appear to be subsiding. Interest rates were left unchanged at a range of 5.25% to 5.50% by the Fed at its policy meeting earlier this month. Interpreting Fed comments after the meeting, markets anticipate rates are likely at or near their peak, and could be cut in 2024 if inflation continues to fall towards the Fed’s 2% target. Barring surprises in economic forecasts (which drives Fed...
December 31, 2023December 31, 2023
2023 YEAR IN REVIEW
Although the last year was one of the toughest years in mortgages in decades, Counsel Mortgage continued to grow. Several Loan Originators decided to hang their licenses with us. We also increased our social media presence with instructive videos. We strive to counsel you to help you make a well-informed decision when it comes to financing real estate. We added a monthly email service titled Rates and Values where we take a look at the trends on interest rates and real estate values. Message me if you’d like to be added. Our website contains hundreds of informative blogs relating to...
December 28, 2023December 28, 2023
HOW QUICKLY WILL MORTGAGE RATES COME DOWN AS A RESULT OF THE FED’S ANNOUNCEMENT YESTERDAY?
The Fed’s announcement was very encouraging. They said they will likely no longer increase the Fed Funds rate, and look to decrease the rate next year. This is big news. The stock markets took off, and the Dow reached a record high. As a result of this good news, how quickly will mortgage rates come down? Should you wait for mortgage rates to come down prior to purchasing your home? Mortgage rates actually dipped yesterday on the heels of the announcement. But, will they continue to go lower, and how quickly? The Fed’s drastic move upwards was to tame inflation....
December 14, 2023December 14, 2023
ARE YOU A REAL ESTATE PROFESSIONAL LOOKING TO TEAM UP WITH A LENDER? CONSIDER COUNSEL MORTGAGE GROUP, LLC
Are you a real estate agent looking to team up with an experienced professional lender? Consider us, Counsel Mortgage Group, LLC. We are a mortgage brokerage and shop many different investors to finance your transactions. We have worked with banks, credit unions, non-bank mortgage companies, insurance companies, private money investors, and others over the years. My background as an attorney and CPA gives me a unique background which I have used to help my customers find the right loan at the lowest rates and costs. We have worked with beginning real estate agents, experienced agents, luxury agents, commercial agents, first-time...
December 7, 2023December 7, 2023
DOWN PAYMENT ASSISTANCE – MANY PROGRAMS AVAILABLE
If you are looking to purchase a home, but do not have the down payment, there are many different down payment assistance programs available to you. We are a mortgage brokerage and recently found at least 8 different lenders offering down payment assistance programs to whom we can broker. The down payment can be either a loan to be paid back by you, a forgivable loan, or a grant. You do not have to be a first time homebuyer to qualify. The programs go down to a 600 credit score. The caveat to these programs is they typically have higher...
November 30, 2023November 30, 2023
THANKFUL GRATEFUL BLESSED
This sums it up. We are thankful to be in this business to provide financing solutions for our clients to achieve wealth in real estate. We are grateful to our clients for entrusting us in the biggest financial decisions of their lives. And, we are blessed to be healthy and able to help. Wishing you a Happy Thanksgiving holiday!
November 22, 2023November 22, 2023
PHYSICIAN HOME LOANS
We have closed many loans for physicians over the years. In some instances, they will want to purchase a home prior to starting employment. Their employment agreement may contain contingencies that must be met prior to starting work. We researched the guidelines and have closed loans for doctors before they start employment, even if they have not yet completed the background checks and other contingencies of employment. If you are a physician looking for a home loan, give us a call, we can help. To see other posts and videos in our series, click here: https://counselmortgagegroup.com/blog/ Counsel Mortgage Group®, LLC...
November 15, 2023November 15, 2023