Got Bonus? Part 2: Stocks

On Part 1 of Got Bonus, I covered how lump sum cash or increases to salary are treated when it comes to qualifying for a home mortgage loan. In this post, I’ll address how bonuses that are in the form of company stock are treated by lenders. [Read more…]

Got Bonus?

The Seattle Times announced yesterday that Boeing employees will be receiving a record $600 million in bonuses starting next week. From the Seattle Times:

“Boeing’s nearly 66,000 current employees in the state will be eligible for the bonuses. More than 6,000 more who worked at least part of last year before leaving the company will get a partial bonus, prorated according to how long they worked last year.” [Read more…]

Mortgage interest rates moving higher

This morning, Freddie Mac released their weekly report on the direction of conforming mortgage rates. The graph from the Prime Mortgage Market Survey is quite telling. Mortgage rates have been pushing higher for the last 6 months. As the economy improves, it would be likely to see rates continue in this direction.  The 30 year fixed is up 0.44 in rate from the low of 3.78 recorded in September 2017 and has not been reported this high since last March.  Click here for quote with current mortgage rates.

 

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eBook: Your First Home Mortgage

I have just updated my guide on how to finance your first home.

If you’re thinking about buying a home located anywhere in Washington state, even if it’s a couple years away, I am happy to help you! You really cannot start the preapproval process too soon. If I can help you, please contact me.

NEWS FLASH: Mortgage Master now offers Bridge Loans

I’m pleased to announce that Mortgage Master Service Corporation is once again, offering bridge loans to our clients. A bridge loan allows a home owner to tap equity from their current home for down payment on their next home before their current home has sold.  With a bridge loan, there are no monthly mortgage payments and the interest that accrues is paid off at the closing of the buyer’s listed home. [Read more…]

Mortgage Rates improved last week

Freddie Mac’s Prime Mortgage Market Survey (PMMS) was released this morning showing that mortgage rates dropped last week.  RATES POSTED BELOW ARE EXPIRED. Click here for a mortgage rate quote with current rates for your Washington home.


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NEW! WSHFC now allowing Non-Traditional Credit

The Washington State Housing Finance Commission (WSHFC) is now allowing borrowers without established credit (aka “non-traditional”) to qualify for a mortgage.

Here are some of the requirements: [Read more…]

The Fed Raises Fed Funds Rate by 0.25%

In Janet Yellen’s last meeting as the Fed Chair, the FOMC has increased the Fed Funds rate by 0.25% to 1.50%. From the press release:

“Information received since the Federal Open Market Committee met in November indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate. Averaging through hurricane-related fluctuations, job gains have been solid, and the unemployment rate declined further. Household spending has been expanding at a moderate rate, and growth in business fixed investment has picked up in recent quarters. On a 12-month basis, both overall inflation and inflation for items other than food and energy have declined this year and are running below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed, on balance.”

The Fed states it’s likely there will be additional increases to the Funds Rate next year. [Read more…]