You have many different choices for where to get a mortgage. There are banks, mortgage banks, and mortgage brokers. Many try to sell you their products, for example, down payment assistance, free appraisals, first-time homebuyer loans, doctor’s loans, public employee (teachers, police officer) loans, etc. hoping you’ll bite on the sales pitch in lieu of less favorable terms on the loan. Ultimately, it is the loan you will be paying back. For example, it is important to ask about the terms of the loan, the amount of mortgage insurance, if any, or if there are any other loans that are...
Category: Mortgage Brokers
PREFERRED LENDERS
Many real estate companies have preferred lenders to whom they encourage their agents to refer. This preferential status can be misleading. In many instances, these lenders are “preferred” because they pay a fee to the real estate company, or the real estate company enters into a joint venture with the lender. These “pay to play” lenders may not offer the best rates or costs. If your real estate agent is referring a lender to you, check to see if it is their company’s preferred lender. Then, check if it is a bank, mortgage bank, or mortgage broker. If it is...
October 1, 2019October 1, 2019john
COMMODITIZATION OF MORTGAGES
All you have to do is push a button and get a mortgage? If so, what kind of mortgage are you getting? Is it the right mortgage for you? Does it matter? There is a definite trend in the media to commoditize mortgages. That is, to try to influence you that you don’t need to speak to anyone, just click a few buttons and you will get a mortgage. But, what mortgage are you getting? Are you getting a 30-year fixed? If so, what is the rate and the lender’s costs? Are you willing to pay more for a loan...
September 27, 2019September 27, 2019john
YOU SHOULD BE WORKING WITH A MORTGAGE BROKER
For today’s post, see this link written by Mat Ishbia, the President and CEO of United Wholesale Mortgage: https://bit.ly/2yvtFZZ If you are looking for a mortgage, you should be working with a mortgage broker. We are mortgage brokers licensed in Arizona and California and can help you. We offer a variety of product 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 © 2019 Counsel Mortgage Group®, LLC.
September 6, 2019September 6, 2019john
MONEY CENTER BANKS CUTTING BACK IN 2019
The nation’s largest banks are being more cautious with their commercial real estate lending, based on what they are saying on their earnings conference calls. The same headwinds that slowed bank lending last year are extending into 2019, as economists debate how much longer the current economic expansion, on pace to reach a record stretch in July unless the effects of the government shutdown stop it sooner, can continue. Interest rates are projected to keep going up and institutions face stiff competition for deals from non-bank lenders. Additionally, borrowers are prepaying loans sooner as properties trade hands, slowing...
February 1, 2019February 1, 2019john
ADVANCED ISSUES IN PROBATE AND ESTATE PLANNING
John Rapasky and Mike Green of Counsel Mortgage sponsoring the Arizona State Bar Association seminar on Advanced Issues in Probate and Estate Planning. Speaking with lawyers regarding the pros and cons of reverse mortgages, residential and commercial financing. 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 If you would like to receive the daily blogs in your email, please click here: http://bit.ly/2GgJTJh Copyright © 2018 Counsel Mortgage Group®, LLC.
May 5, 2018May 5, 2018john
AIME
I am in Irvine, California today attending the first mortgage workshop for AIME, the Association of Independent Mortgage Experts. This is a group of mortgage brokers from across the country who believe the mortgage broker provides the best value and options for the customer. There are over 600 attendees at the conference. I’ve met brokers from across the nation. We all firmly believe in the mortgage broker model and are sharing ideas as to how to get the word out to the public that they should consider a mortgage broker when purchasing a home. Our compensation is fixed and we...
April 11, 2018April 11, 2018john
GET READY FOR THE MOST COMPETITIVE SPRING HOME BUYING SEASON SINCE THE GREAT RECESSION
Here is an article which describes what is happening in today’s housing market. It provides further evidence as to why it is important to work with a mortgage broker. We can issue pre-qualifications and pre-approvals to get you in the best position to make an offer. Also, we shop wholesale lenders to provide you with the best rates and costs. Contact us and we can help. Important info here: https://on.mktw.net/2pyZbC7 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...
March 29, 2018March 29, 2018john