Mortgage rates pushing higher

Mortgage interest rates have been moving higher at a pace not seen in years. If you’ve been a subscriber to The Mortgage Porter, you may recall that I often say mortgage rates move up much faster than they come down…the jump over the last few days has surprised many. [Read more…]

The Fed’s Announcement Yesterday and how it impacts Credit Cards

Yesterday the Fed (FOMC) wrapped up their two day meeting deciding to leave the Fed Funds rate unchanged.  How does this impact you?

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2022 Conforming Loan Limits?

Typically in late November, conforming loan limits are announced for the following year. Loan amounts under the conforming loan limit tend to have lower interest rates than loan amounts that are “high balance conforming” (available in certain counties, such as King, Pierce and Snohomish) or jumbo mortgages. [Read more…]

2020 FHA Loan Limits for homes in Washington State

Here is a complete list of FHA loan limits for all counties in Washington for 2020. The new loan limits go into effect on FHA case numbers issued January 1, 2020 and after. [Read more…]

Breaking News: 2020 Loan Limits Announced from HUD

HUD has released the FHA loan limits for 2020.

Seattle – King County, Tacoma – Pierce County and Everett – Snohomish County all have higher loan limits at $741,750 for a single family home.  Homes located in King, Snohomish and Pierce Counties qualify for a higher loan amount as the counties are considered “high cost”. 

FHA mortgage loans are not limited to first time home buyers and do not have income limits. Loan limits do vary by the county the home is located in. Here is a complete list of 2020 FHA loan limits for in Washington State.

If you’re interested in buying or refinancing a home located anywhere in Washington state, I’m happy to help!

 

 

Conforming Loan Limits for 2020 for Washington State

Conforming loan limits are increasing for 2020 to $510,400 for a single family dwelling. Counties that are considered “high cost” such as King County, Pierce County and Snohomish County qualify to have a “high balance conforming” loan limit of $741,750. [Read more…]

My Seattle Kitchen Remodel: Flooring

Probably one of the toughest decisions we had to make, next to the counter-tops, was what to do with our flooring. We had a wood floor with a beautiful painted surface. Unfortunately, it was a real challenge to keep it clean and the paint was wearing off. Plus the lighter blond finish didn’t really go with our cabinets.

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Major recording issues in King County

If you are closing on a refinance or home purchase in King County, you need to be aware of an issue going on with the recorders office. It’s my understanding that on Tuesday, title companies received this message:

“Hello Everyone,

I wanted to update you and keep you aware of a technical issue we are experiencing in the King County Recorder’s Office. We are having substantial problems with our recording system which is causing slow downs and interruptions to service in all aspects of the recording process. Our software vendor and our IT department are working together to resolve this issue as quickly as possible. While the problem persists we may not be able to meet our commitment to providing same day service even for those packages received before cutoff. We will work hard to ensure that all items are recorded either after hours or first thing the next day.

My apologies for the inconvenience on this. I know that this is a busy time for everyone and we are doing all we can to resolve it quickly.

Today, I’m told that King County’s recorders office closed at 5pm stranding hundreds of transactions from recording.”

If your transaction, refinance or purchase, does not “record” then it’s not of public record. Hopefully people can be flexible and nobody is seriously financially damaged by what’s going on with King County.

Hat tip to Lorie Cantu Wiest of Fidelity National Title Insurance Company.