Our Veterans DESERVE to use a VA Mortgage Loan

I’ve been trying to think about how to title this post without “shaming” real estate agents or home sellers… but I do feel that it’s really unfortunate that some still have a low view of VA mortgages. Men and women who have dedicated their lives to serve our country and protect our freedom have EARNED the privilege to have a VA mortgage loan. Those of us who have not committed to serve do not have this benefit… and it is a benefit.

A VA mortgage loan allows a qualified Veteran to buy or refinance a home with a minimum down payment – even with a jumbo mortgage! With the reduced down payment, there is no monthly mortgage insurance – however there often is a VA funding fee. Plus, the interest rates for a VA loan is often as good, if not better, than a conventional mortgage!  They are really a screaming deal that these citizens deserve to be able to use.

A lot of the reasons why real estate agents and home sellers protest working with a home buyer who is eligible for VA financing are often outdated. Sellers often are worried about potential escrow closing cost with a VA buyer. With a VA mortgage, the Veteran cannot pay for the the buyers half of the escrow fee. That’s it!  Real estate agents common objection boils down the appraisal. When an appraisal is ordered, it’s done on a rotation basis and lenders have no control over who the VA appraiser will be… guess what – this is the SAME as a conventional, FHA or USDA mortgage today thanks to legislation that took place a few years ago. A VA appraisal might take a couple days longer – as long as the Veteran is fully preapproved, a transaction using a VA mortgage should be able to close in 30 days.

I’m proud to help Veterans with the financing of their homes and I encourage them to take advantage of their well deserved benefit with a VA mortgage. Veterans should compare the VA loan to other options to see which mortgage pencils out for their needs.

THANK YOU to those who serve our country!

Greater Seattle’s Shifting Real Estate Market

You’ve probably heard that the Seattle’s sizzling real estate market has cooled a bit with home prices starting to come down. This is great news for folks who have grown weary battling in bidding wars only to have their offers rejected time after time. It looks like, at least right now, things may be returning to be more “normal”. [Read more…]

What is a mortgage “buy down”?

With rising mortgage interest rates, “buy-downs” are the new buzz word. A “buy down” either temporarily or permanently reduces the interest rate on a mortgage loan. With the local real estate market cooling down, it’s not unusual to see a Seller agree to actually pay for a buy-down to help sweeten the deal for a potential home buyer. It can actually be a “win-win” for both buyer and seller as the buyer receives a lower mortgage payment and the contribution paid by the seller may be less than what a price reduction might be. [Read more…]

Amazon Raises and How Changes to Pay Structure Impacts Qualifying for a Mortgage

Amazon recently announced that it’s increasing it’s minimum wage to $15 for all employees, including part-time, seasonal employees and temps effective November 1, 2018. Amazon states this will benefit more than 250,000 employees and over 100,000 people who will be hired for the upcoming holiday season. Even Operations and Customer Service employees who are already making $15 per hour will receive an increase to their hourly wage. [Read more…]

Mortgage interest rates continue to trend higher

This morning Freddie Mac released their weekly Prime Mortgage Market Survey (PMMS) showing that mortgage interest rates are continuing to trend higher. Click here for current mortgage interest rates in greater Seattle and beyond.

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Mortgage Master Service Corporation on the radio

You may have noticed hearing “Mortgage Master Service Corporation” mentioned on the radio lately. This is because Mortgage Master Service Corporation has recently welcomed Laura Kiel (MLO54744) and family to join our company. Not only do they advertise on the radio, her team also host weekly radio shows. I’m still surprised when I listen to the radio and hear an ad that mentions our company name. [Read more…]

King County Property Tax Valuation Notice

Did you receive your “Official Property Value Notice” over the weekend? Let’s just say that I’m not surprised to see how much our values have gone up…although, in my opinion, I think the 2018 assessed value of my home is higher than what I could most likely sell it for. [Read more…]

Mortgage rates bumping along

Freddie Mac’s weekly report on mortgage rates, the Prime Mortgage Market Survey (aka PMMS) which shows what mortgage rates averaged last week, shows that rates bumped slightly higher. Remember, mortgage rates change constantly as they are based on bonds (mortgage backed securities). Rates posted are subject to change and, since this is an average from last week, they already have changed. This report is just intended to provide an idea of the direction of where mortgage rates have been and where they may be heading. If you would like current rates for your personal scenario, please contact me.

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