Tag: <span>loans</span>

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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...

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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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SMALL BUSINESS ACT

The SBA is the Small Business Administration and offers business loans. The most common types refer to Sections 504 and 7(a) of the Small Business Act. If you’re looking for a small business loan to purchase commercial real estate or heavy machinery/equipment, then the 504 loan is the best choice. If you are purchasing a...

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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...

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WHAT MATTERS TODAY IS LOAN SALEABILITY

When our parents and grandparents went to the local bank years ago to get a loan, they would meet with a banker who may have known them and they would apply for a loan. The banker would consider many factors, including their personal relationship, to approve the loan; this is not the case today. Today,...

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WE BROKER LOANS TO SELF EMPLOYED HOMEBUYERS

There is some conversation out there that if you are self-employed, you cannot qualify for a loan; well, this is just wrong. If you have been self-employed for at least 2 years you may be able to qualify for a loan. Lenders will take the average of your net income over the last 2 years...

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WHO CALLS THE SHOTS?

The first rule told to me when I started in the mortgage business was, “He who has the gold, makes the rules.” It is very true.   It means, if you are looking for money from someone else to help you finance a property, you have to follow their rules to get the money. If they are...

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NO MONEY DOWN LOANS, HIGHER INTEREST RATES

Many lenders will try to sell you no money down loans, or down payment assistance loans, but it is likely that these loans will have higher interest rates and more costs. If you can come up with a down payment, in some instances as little as 1% of the sales price, you may be able...