Honoring our Hometown Heroes

Rhonda_Hometown HeroMortgage Master Service Corporation recently started a program to honor our local heroes. We are now offering a $625 credit towards closing cost for a home purchase or refinance when we provide the mortgage.

Mortgage Master Service Corporation’s Hometown Heroes program is available for:

  • Police Officers
  • Firefighters and EMTs
  • Doctors and Nurses
  • Teachers
  • Military

We thank our heroes for taking care of our community and hope we can take care of you with your mortgage needs.  Please feel free to share this! I’m am honored to help you with any home purchase or refi on homes located in Washington state.

Note: This program cannot be combined with any WSHFC program. Program and pricing subject to change.

 

New Income Limits for WSHFC Down Payment Programs

The Washington State Housing Finance Commission has announced new income limits for some of their mortgage programs.

Here are the new income limits effective May 6, 2019: [Read more…]

Big Changes Coming to Real Estate Excise Tax for Washington State Homes

wordswag_1556818054305The Washington State Senate has passed revisions to excise tax that is paid when real estate is sold or transferred. Instead of having a flat rate, the new tax once signed into law by Governor Inslee, will be graduated. Some will enjoy a lower tax rate while others will pay a significantly higher tax rate. Real estate excise tax is typically a cost paid for by the seller. In San Juan County, the excise tax has been split by both the seller and buyer of real estate. Many would argue that excise tax (as with other cost of selling, such as real estate commission) is often passed onto the buyer as it is factored into the sales price. [Read more…]

Mortgage Rates trending higher

Freddie Mac’s weekly mortgage rate report (PMMS) based on a survey of mortgage interest rates from applications last week show that mortgage rates continued to move higher.

20190425pmms

[Read more…]

Mortgage Home Loans for Non-Citizen Borrowers

Recently Fannie Mae added clarity to their guidelines regarding non-citizen borrowers being eligible to qualify for a conventional mortgage. According to Fannie Mae, this is not a change to existing policy, it is just (much needed) clarification for lenders.

In order to be eligible, a borrower must be “legally present” in the United States. This means the borrower must have: [Read more…]

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. [Read more…]

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??? [Read more…]

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 HSH.com.  When you dig deeper into the report, here’s how HSH.com came up with their numbers: [Read more…]