This morning’s official pronouncement: First Republic Bank has been seized, and in a deal that has been cooking for the past several weeks, they’ve agreed to sell to JPMorgan. If you’re counting, this is the 3rd major US financial institution to fail in the last two months. Not a surprise. As I said, this...
Tag: mortgage
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MORTGAGE BANKING ADVERTISEMENTS
You may hear many mortgage bankers advertise they have in-house underwriting and fund their own loans which gives them an advantage in getting your loan approved and funded. FAKE NEWS. Bankers promote these services as something special, but, it is not special to have your loan underwritten and funded on time. This should be...
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ON-LINE LENDING
On-line lending tends to emphasize on closing a loan quickly and making the process automated; this approach implies that counseling to find the right mortgage is not necessary, and leaves the choice of finding the right mortgage to the customer. This approach, however, may not work for the following sample of customers who may...
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AGE IS NOT A QUALIFYING FACTOR WHEN APPLYING FOR A MORTGAGE LOAN
You’re never too old, age is not a factor when applying for a mortgage loan. Lenders cannot discriminate based on age. So, even if you are 100 years old, and can qualify for the payment, you can get a 30-year mortgage.
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ARE YOU CONSIDERING A BRIDGE LOAN?
A bridge loan works nicely if you need the proceeds from the sale of your current home to purchase a new home. In essence, the bridge loan gives you an advance of the proceeds from the sale of your home to purchase the new home. It is a temporary loan to help you purchase...
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MANY HOMES ON THE MARKET HAVE SOLAR PANELS
Many homes on the market have solar panels nowadays. 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 removed so they can secure their lien....
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JUMBO LOAN PROGRAMS
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 have a...
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ARE YOU HAVING DIFFICULTIES WITH YOUR LENDER GETTING A MORTGAGE LOAN?
Are you having difficulties with your lender getting a mortgage loan? There is now finally an answer. Counsel Mortgage is the only mortgage broker founded by an Attorney/CPA who originates mortgage loans. We issue spot troubled items up front, and advise you of the potential pitfalls of your loan. If you have less than perfect...
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ALL-IN-ONE LOAN PRODUCTS
A very interesting loan product that can help monthly positive cash-flow consumers pay-off their mortgage sooner is the All-In-One. You don’t hear of this product much in the U.S., but similar products have been offered in Western Europe, Canada, New Zealand and Australia. It is called All-In-One because it combines both a home loan...
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SPEC HOMES FOR PROFIT
We have products for builders who are building spec homes for profit. The minimum loan amount is $150,000 with a maximum loan amount of $3 million. For us to review your scenario we need the detailed budget, construction schedule/development phases, and architect drawings. The lender considers the following in the credit decision: ● Borrower characteristics/Total...