Tag: <span>#lenders</span>

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NOW IS THE TIME TO LOCK IN AN INTEREST RATE

When is the best time to lock an interest rate? I get asked this question often as everyone wants the lowest rate. Interest rates, like stocks, change daily; it is hard to predict whether the rate will go up or down. It is best to see what your payment is at the current rate, and...

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TWO APPROVALS, PLUS COLLATERAL

Two approvals take place when you apply for a loan.  Lenders review both your credit and income, and the collateral. The collateral must be sufficient for the loan to be approved.  What if the collateral is a condominium? When the collateral is a condominium, there is increased scrutiny by the lender. This is due to...

NOW’S THE OPTIMUM TIME TO BUY OR REFINANCE
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NOW’S THE OPTIMUM TIME TO BUY OR REFINANCE

Rates are low. and rates are subject to change. Now is a good time to buy or refinance.   We are a mortgage broker and offer wholesale rates and costs in Arizona and California. We originate both residential and commercial loans.    Contact Counsel Mortgage Group, we can help you!   We offer a variety...

BENEFITS OF WORKING WITH A COUNSEL MORTGAGE GROUP BROKER
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BENEFITS OF WORKING WITH A COUNSEL MORTGAGE GROUP BROKER

What is the benefit of working with a mortgage broker and why a Counsel Mortgage Group broker?  As you can see from our website, the professional experience of the loan originators at Counsel Mortgage Group is unmatched in the industry. When I looked for a mortgage loan the first time I purchased a home, I...

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VA INTEREST RATE REDUCTION REFINANCE LOAN

We thank our veterans and proudly employ veterans at Counsel Mortgage Group.  Our veteran originators specialize in VA loans and have closed many VA loans.  Recently some of our clients have contacted us questioning why they’re being heavily solicited.  Truth is, many lenders know the VA Interest Rate Reduction Refinance Loan (know in lending as...

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DETERMINING YOUR CREDIT SCORE

Credit cards are a significant factor in determining your credit score. Credit bureaus look at your credit card balances and history to determine how you manage your discretionary spending. The credit bureaus do not know your spending habits, but by reviewing credit card balances, they make conclusions regarding your ability to manage credit which will...

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MY LOAN IS IN FORBEARANCE, CAN I REFINANCE TO GET A LOWER RATE?

  In order to refinance, you will have to bring your loan current.  We recently had a client who chose the government’s option to forebear his mortgage payments.  He did not pay his mortgage for a couple months.  When he contacted us to refinance, the lender would not approve the loan until he brought his...

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MORTGAGE, REFINANCING AND SKIPPING PAYMENTS

You may have heard about skipping a payment, or maybe even 2 months payments, when you refinance? Is skipping a payment tricking the system, or getting away with something? No, in fact, you may be front-loading more cash at closing.  

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CAN YOU GET A MORTGAGE DURING COVID-19? YES

Can you get a mortgage in the midst of a pandemic? I have had customers ask me whether lenders are lending during Covid-19. The answer is yes.   As a result of Covid-19, there was volatility in the market. You may have seen this first hand where the Dow decreased by 10,000 points in 3...

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INVESTMENT PROPERTY PURCHASES AND QUALIFYING

If you are going to purchase an investment property, you want to make sure the rental income covers the mortgage payment. In addition, you should budget a cushion, i.e. rental income that more than covers your mortgage payment and gives you some profit each month. You can put the profit aside and keep it in...