Gifts are allowed for down payment on conforming and government loans. They are allowed for primary residence purchases, and must come from a family member. Fiancés are qualified donors. Gifts are not allowed on investment properties. With competition heating up for first time homebuyers, we are seeing gifts for down payment so they can present a more competitive offer. Are you considering a gift for the purchase of your home? Contact us and we can help! Counsel Mortgage Group®, LLC Licensed in Arizona, California, Hawaii and Illinois www.counselmortgage.com 480-502-1000 NMLS #178927 AZ MB #0909580 CA DBO # 60DBO43873...
First Time Homebuyers
FIRST TIME HOMEBUYER PROGRAMS
There are a lot of programs that market to first time homebuyers. The most popular one is down payment assistance, no money down program; we broker this program. Many banks and lenders tout how great this program is by allowing people who have never owned a home before, to get in the home with no money down. What they may fail to tell the buyer is that these programs typically come with higher interest rates and costs than if they had a down payment. If the buyer could come up with as little as 3% down, which can be a...
March 21, 2022March 21, 2022john
WHAT IS THE “FIRST TIME HOMEBUYER PANDEMIC SAVINGS ACT”?
Are you familiar with the First Time Homebuyer Pandemic Savings Act? Want to know more about the legislation and what it could mean for first time homebuyers? If you have questions regarding the First Time Homebuyer Pandemic Savings Act contact us. We offer a variety of products and services, ask us how we can assist you today. 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.
September 29, 2021September 29, 2021john
FIRST-TIME HOMEBUYER ACT OF 2021
You may have heard of the First-Time Homebuyer Act of 2021, and you may have questions. How does the act work? Who is eligible? Click link to learn about how to qualify and what requirements may be needed. https://homebuyer.com/learn/15000-first-time-home-buyer-tax-credit If you have any questions about the First-Time Homebuyer Act of 2021 give us a call. 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 HI-178927 Copyright © 2021 Counsel Mortgage Group®, LLC.
August 16, 2021August 16, 2021john
ADVERTISEMENT SATURATION
I witness time and again advertisements on the internet, billboards and radio for. The down payment is typically in the form of a grant that does not need to be paid back. Many people push these loans enticing first time homebuyers to buy a home without any money out of their pocket. While these loans increase sales for the loan officer and real estate agent, are they really in the best interests of the first-time homebuyer?
May 17, 2021May 17, 2021sean
BUYING, REFINANCING, WHAT’S THE PLAN?
As you can imagine, we get asked more so than ever before, “Is now the right time for buying or refinancing a home?” Refinancing is currently on the forefront of many homeowner’s minds today. If you are a prospective home buyer when should you start planning for your mortgage? The answer is as soon as you think you will be buying or refinancing a home.
July 14, 2020July 14, 2020john