You may have a lot of equity in your home and would like to leverage it to make repairs or take cash out for other purposes. But, you have a low rate mortgage and do not want to refinance your home at higher rates. Well, you can keep that low rate mortgage and take the cash out with a second mortgage, i.e. a home equity loan or a home equity line of credit. Home equity loans are fixed rate loans. You have to take the entire amount of the loan at closing. Payments are to principal and interest. Home equity...
Category: Home Equity Line of Credit
REAL ESTATE INVESTMENT PROPERTIES
Real estate investment properties are a great way to increase assets and serve well to generate a passive income. Financing an investment property requires more of a down payment than a typical mortgage and it’s important to budget for maintaining landlord related expenses. What do you do if you cannot come up with the necessary required down payment? What if you do not have cash-on-hand? You may be able to use the equity from your primary home as leverage to buy your investment property. Contact us at Counsel Mortgage Group. We can discuss your options with you...
December 29, 2022December 29, 2022john
IS A REVERSE MORTGAGE A GOOD OPTION FOR LONG-TERM CARE?
Should you use a reverse mortgage to pay for long-term care? Check out this article published by The Arizona Republic on how to evaluate whether a reverse mortgage is a good option for long-term care. Click link https://bit.ly/3xlKXHM Contact us, we’re happy to discuss reverse mortgages with you. We offer a variety of products and services, ask us how we can assist you today. We work for you, not the lender. 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 HI-178927 IL MB.6761723 Copyright © 2022 Counsel Mortgage...
June 6, 2022June 9, 2022john
HOME EQUITY LINE OF CREDIT
HELOC the acronym for a home equity line of credit. A HELOC works like a credit card, but it is secured by your home. You can borrow against it, and then pay it down, just like a credit card. If you have equity in your home, but you need some cash to consolidate debt or make home improvements, then you would consider a HELOC. Many people today consider HELOCs instead of taking cash out and refinancing their home because they do not want to lose the low interest rate they have on their mortgage. You may also want a HELOC...
November 21, 2019November 21, 2019john