How are property taxes determined?

Recently, after receiving a rate quote, a home buyer asked me, “What would the difference in taxes be if I bought in Pierce County verses King County?” [Read more…]

Mortgage interest rates stabilizing

Freddie Mac’s PMMS was released this morning showing that mortgage appear to be calming down…for now.

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Cash Out Refinance

Homes in the greater Seattle – King County area have been experiencing higher home values. The demand for homes with the strong employment market in Seattle and lack of inventory has been pushing home prices higher and higher. What is not great news for home buyers wanting to live in the greater Seattle area, this does create an opportunity for homeowners. Homeowners can either sell their home to take advantage of the appreciate that we currently have, or they can consider a cash out refinance. The reasons for a cash out refinance can vary from wanting to consolidate debts, funding retirement, cashing out an ex or improving your home…just to name a few. [Read more…]

BREAKING NEWS: FHA Mortgage Insurance reduction SUSPENDED INDEFINITELY

As President Trump’s inauguration ceremony is in process, HUD has suspended the reduction of the annual FHA mortgage insurance indefinitely.  Mortgage Letter 2017-07 cancels Mortgage Letter 2017-01, issued by HUD just 9 days ago. [Read more…]

Will the recent FHA Mortgage Insurance Reduction be Trumped?

HUD Secretary Castro proudly announced the reduction of FHA’s annual mortgage insurance premium just a week ago as his parting gift of tenure before having to leave his position. There has been a lot of discussion on if this will be an action that Trump’s new administration will roll back. [Read more…]

HUD’s reducing Mortgage Insurance on FHA Mortgages

iStock-000018668640XSmallUPDATE January 20, 2016: HUD has suspended the reduction to FHA mortgage insurance effective immediately.

HUD has announced today that mortgage insurance will be reduced on most FHA mortgages. FHA mortgages have two types of “mortgage insurance” the borrowers pay regardless of loan to value. There is the upfront mortgage insurance (currently 1.75% of the loan amount) that is typically added to the base loan amount and financed over the life of the loan and there is the annual mortgage insurance that is actually paid as part of the monthly mortgage payment. This reduction of 25 basis points is on the annual mortgage insurance premium.

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Mortgage rates lower in 2017…so far…

I was going to do a cheesy post on New Years exclaiming that mortgage rates are the lowest in 2017…although technically speaking, you could also say they are the highest of 2017! Obviously I opted to not do that post and to instead, share Freddie Mac’s Primary Mortgage Market Survey which shows that rates have improved a bit.

pmms-2017-jan-5
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DIY Penny Floor Update…it’s been a while!

It’s been a while since I’ve published anything about our penny floor project in our basement…quite simply, that’s because it’s been a while since we’ve worked on it! We got diverted with other projects, including an investment home that we purchased (that we installed a small penny floor in) …and my husband wound up crewing a sailboat down under for about a month…I can come up with more excuses reasons why the floor has not progressed…you get the idea. [Read more…]