Tag: <span>CPA</span>

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DEFINING PITIMI

  The acronym PITIMI represents the components of the monthly mortgage payment. It is defined as follows: • P = Principal • I = Interest • T = Real estate taxes • I = Insurance • MI = Mortgage Insurance The principal is the amount paid against the borrowed funds per month. Interest is the...

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IS THE APPRAISER QUALIFIED?

You may get an appraisal and wonder how the appraiser arrived at that opinion, and is the appraiser qualified? Appraisers are licensed, and to be Certified, must have extensive experience and education. In Arizona, appraisers must have their fingerprints submitted for a criminal background check. If new, the appraiser starts out as a Trainee Appraiser....

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EXTRA PAYMENT TO PRINCIPAL

  Everyone knows if you make extra payments on your mortgage, you can pay it off sooner, but, how much quicker do you pay it off by making the extra payments? We have a calculator on our website which shows you how much quicker you can payoff the mortgage by making an extra payment. If...

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JUMBO LOANS AT COUNSEL MORTGAGE GROUP

    We have a variety of jumbo loan programs at Counsel Mortgage Group. VA jumbo, reverse jumbo and many more available. Before you apply for a jumbo loan, contact us. We are a mortgage broker, we shop wholesale rates and costs to see what program would be best for your scenario. We offer a...

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CRIME DOESN’T PAY

DO NOT COMMIT FRAUD. When you are purchasing an investment property, apply for an investment property loan. Do not purchase an investment property and apply for a second home loan for the sole purpose of getting a lower interest rate. To do this would be mortgage fraud.   Here are a few examples of how...

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WE OFFER JUMBO LOAN PRODUCTS

We offer many jumbo products, including primary residences, second homes, and investment properties, we can offer 5% down jumbo on primary residences. We also have an interest-only jumbo product available. The jumbo rates we are seeing are comparable to conforming rates. In the past when we would encourage borrowers to stay at the conforming loan...

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HOW DO ADJUSTABLE RATE MORTGAGES WORK?

An Adjustable Rate Mortgage (ARM) is typically a mortgage that is fixed for a period of time, and then becomes adjustable. The typical ARMs are 3/1, 5/1, 7/1, and 10/1. The first number represents the time period the rate is fixed. The second number represents how often the rate changes. Example: A 3/1 ARM means...

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WE GET DEALS DONE

One of the many reasons you want to work with Counsel Mortgage Group is that we have great flexibility to get a deal done. As a mortgage broker, we have relationships with many different lenders who offer a variety of products. Here are a couple examples of how we can help: A client comes in...

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ARE YOU FINANCING A HOME WITH SOLAR PANELS?

Solar panels are increasingly popular, and many homes on the market have solar panels nowadays. If you are looking to finance a home with solar panels, you should consider the following rules: Many solar companies will file a UCC-1 Financing Statement on the title of the home. Mortgage lenders will likely request it to be...

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PROPERTY VALUATION

An appraisal is typically required when applying for a mortgage. If you are purchasing a home, the lender will base the loan amount off of the lesser of the sales price or the appraised value. Many people will look to the price per square foot when valuing a home, however, this valuation could be misleading....