Tag: <span>#IceDen</span>

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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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TO RENT OR BUY, THAT IS THE QUESTION

An age old question many people face; continue to rent or  commit to buying a home? Most people do a financial analysis to see if this makes sense. Will the mortgage payment be less than the rent payment? Whether yes or no, they should consider that the principal portion of the mortgage payment is used...

HAVE YOU CONSIDERED ADDING A CO-SIGNER?
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HAVE YOU CONSIDERED ADDING A CO-SIGNER?

Sometimes, you may not be able to qualify on your own. Have you considered adding a co-signer to help you qualify? If so, the co-signer will have to complete a loan application and will have to qualify, too. Lenders will combine the incomes and debts of both borrowers and base the loan off of the...

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IF YOU CANNOT QUALIFY

Sometimes, you may not be able to qualify on your own, and may ask someone to sign with you to help you qualify. If so, the co-signer will have to complete a loan application and will have to qualify, too. Lenders will combine the incomes and debts of both borrowers and base the loan off...

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PLEDGING ASSETS

With the way the stock market is running, many people do not want to liquidate their accounts to make a large down payment on a home. They are conflicted because they want to make a large down payment to get a better interest rate, but do not want to sell the assets in their investment...

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FINANCING AND PLANNED COMMUNITIES

When you finance a condo, there are specific rules the condominium association must meet. Here is the link to the article we wrote on these rules: /category/condominiums/ However, there are many properties that you may know as a patio home, townhome, or even a single family residence, but because of the way the land was...

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CREATIVE FINANCING: COMPETING OFFERS

Delayed financing may be your answer if  you are trying to purchase a home with competing offers. You can pay cash for the home, but don’t want to, and would rather finance the home; however, if you presented an offer with financing, you may get beat out for the home. Delayed financing allows you to...

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APPLICATION QUALIFICATIONS FOR A MORTGAGE LOAN

An adult, pursuant to that state’s laws, can apply for a for a mortgage loan. According to Fannie Mae, “borrowers who are natural persons and have reached the age at which the mortgage note can be enforced in the jurisdiction where the property is located” can apply; there is no maximum age limit for a...

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PLEDGED ASSETS TO LENDER

Are you considering buying a home and using liquidated monies from stock investment accounts? You may feel conflicted because you want to make a large down payment to get a better interest rate, but do not want to sell the assets in your investment accounts and pay taxes on any gains. By pledging the assets...