RIP RainCityGuide

6a00d834522f5769e2010537042aad970c-600wiRain City Guide, back in the day, was a resource for people interested in all things about Seattle…especially real estate. I was beyond honored to join the RCG panel back in 2007 to represent the mortgage industry.

Our panel had various participants over the years, including the owner, Dustin Luther and Ardell DellaLogia, Jillayne Schlicke, Craig Blackmon, Deborah Burns, Reba Haas and others.

Over the years, it changed, as did the real estate industry and sadly RCG lost it’s luster. Believe me, it takes a lot to keep a blog going!

Tonight I learned that RCG no longer exist. Apparently all of our content is gone! My last post was in December for the 2019 conforming loan limits.RIP RCG.JPG

Contributing to a panel blog or any place where you do not own your content is risky. However, I am truly sad to see RCG officially gone and that we (contributors) did not have the opportunity to salvage our content.

Honestly, I’m a bit sad about this… which is why I wanted to tip my hat to RCG and the memories of the articles I wrote and, probably even more important to me, the conversations in the blog comments.

Good by RCG – you deserved a better send off than this.

When should you refi a low FHA mortgage rate?

Beautiful luxury home exterior at twilightMany homeowners are hanging onto very low mortgage rates when they should perhaps consider refinancing the mortgage for a higher rate. What???

It’s true! If you have an FHA mortgage in the mid to high 3’s it may make sense refi to reduce your payment. If you factor in the mortgage insurance included in your monthly mortgage payment, your payment may be higher than what it could be with current interest rates.

For example, recently I reviewed a clients FHA mortgage that she obtained from us about seven years ago. Her current interest rate is 3.750% with current principal and interest of $1,344.15 and mortgage insurance of $131.90 for a total of $1,476.04.

I prepared a scenario for her based on paying off the current FHA mortgage for a conventional mortgage without private mortgage insurance. Based on current rates (as of 11:30 am March 14, 2019), loan amount of $258,000, 30 year conventional mortgage, credit scores between 660 to 850 with a loan to value 60% or lower, the home owner can refinance with a rate of 4.250% priced with 0.713 points (APR 4.515%).  The principal and interest payment of $1,269.20 is $206.84 lower than the current payment. This scenario will take about two years to break even on the refi so if they intend to keep the mortgage for longer than two years, then refinancing probably makes sense!

Although a rate in the 4’s may not sound as sexy having a rate in the 3’s. Dumping mortgage insurance and reducing your total monthly mortgage payment may be a smart move IF you’ll be keeping the home long enough to where the cost of the refi pencils out.

NOTE: Mortgage rates quoted are subject to change and credit approval.

I’m happy to review your scenario for you to see refinancing makes sense for your personal scenario. Click here for a no-hassle mortgage rate quote for your home located anywhere in Washington state.

The REAL Income Needed to Buy Median-Priced Home in Seattle

Seattle income

KOMO News is reporting that it takes an income of $105K to buy a median-priced home in the Seattle area. This is based off a report from  When you dig deeper into the report, here’s how came up with their numbers: [Read more…]

Buying a Home Using Your S.O.’s Income

Recently I helped a couple buy a home in King County. They’re engaged, had been living together for many years and were ready to purchase their first home. One of them, Billy Bellevue, had some credit issues and it made more sense for them to only have Susie Seattle’s on the transaction. [Read more…]

A First Time Home Buyer’s Story

I’m so excited for some clients I helped buy their first home a couple of years ago. I thought I’d share their story – at least the Readers Digest version! 🙂

This couple attended a home buyers class that I was teaching back in 2014. They purchased their first home in Seattle in 2014 using a down payment assistance program we offer through the Washington State Housing Finance Commission. [Read more…]

Mortgage Rates Continue Lower

Freddie Mac’s PMMS report released this morning reveals mortgage rates continued to move lower for the third consecutive week. According to this report, mortgage interest rates are at their lowest in (just barely) over a year.

[Read more…]

The S Word in Seattle is SNOW

In Seattle, the “s word” is SNOW and it looks like we’re in for a pile of it with this current system.

Seattle snow from 2014.

[Read more…]

Mortgage Rates Drop to Lowest in 10 Months!

Freddie Mac reports that mortgage interest rates are at 10 month lows in today’s Prime Market Mortgage Survey.

The Prime Mortgage Market Survey is based on an average of conforming mortgage rates from last week. If you would like to have a current mortgage rate quote based on your personal criteria for your home located anywhere in Washington state, please contact me! I’m happy to provide you with a no-hassle mortgage rate quote.