A mortgage payment could be less than your rent payment. You may think you cannot qualify, but you’d be surprised. There are many new products on the market. There are no-money down loans, and low-down payment loans available where the down payment can be a gift. If you do not have good credit, we can...
Tag: #realestate
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HOW’S THE COVID-19 CREDIT MARKETS?
Today’s post is written by Michael Green, Commercial Loan Originator for Counsel Mortgage Group, LLC. So much happening so fast – COVID-19 … current and downstream effects! We’ll try to sift through the clutter and focus on those factors affecting our market over the next few months. As I review data accumulated since our...
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BUYDOWN AS AN EXAMPLE
As interest rates fluctuate, you may see lenders offering mortgages with buydowns. This is a different type of mortgage than if you buy down the rate. I’ll explain: If you buy down the rate, you are paying extra money, usually points, to get a lower rate. The rate you buy down becomes the rate for...
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SHOULD YOU LOCK THE RATE OR FLOAT?
When a customer applies for a loan with us and we quote an interest rate, we’ll ask the customer if they want to lock it in or float the rate. To lock in the rate means that will be the rate for their loan. To float means the quoted rate could change, it could go...
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CONTACT COUNSEL MORTGAGE GROUP
Would you like to buy a home but you’re not sure if you’ll qualify? Don’t worry with all of the different products available today, you can get a mortgage. The issue just may be when. If you have less than perfect credit, you may have to repair your credit before you apply. Nevertheless, conventional loans...
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DO YOU HAVE THE RIGHT LENDING SOURCE?
Are you looking to buy an apartment building or a multi-unit property? Or a business and the building it operates out of, such as a restaurant or a gas station? Do you need help financing this purchase? Who would you go to? Would you ask a friend? Would you go to your local bank? Did...
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WHAT’S BEST FOR THE FIRST-TIME HOMEBUYER?
I see time and again advertisements on the internet for no down payment first time homebuyer loans. The down payment is typically in the form of a grant that does not need to be paid back. Many people push these loans enticing first time homebuyers to buy a home without any money out of their...
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I HAVE STUDENT LOAN DEBT, CAN I QUALIFY FOR A HOME LOAN?
College education is more expensive than ever. Many students leave school with substantial student loan debt. They may feel that they cannot purchase a home. Let’s take a look at how lenders consider student loan debt when underwriting a mortgage application. If the monthly payment for the student loan appears on the credit report, it...
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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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FEDS MOVE TO HELP ECONOMY
Take a look at this article published in the Arizona Republic. Our own, John Rapasky, president of Counsel Mortgage Group spoke with Catherine Reagor regarding the newly announced rate cuts. Contact us, we’d be happy to discuss how these changes may assist you. Full article here https://bit.ly/2WHsVh9 We offer a variety of products and services,...