Updating your Preapproval Letter

Jun 1, 2013 by +

I’m often asked by home buyers “does my preapproval letter expire” or “what happens if we don’t find a...

read more

What Sales Price Can I Buy with $100,000 Down Payment

May 23, 2013 by +

I recently met with clients who have saved $100,000 to use for down payment and closing cost for a home in Bellevue.  They easily...

read more

Is it necessary in Seattle to get preapproved to make an offer on a home?

May 10, 2013 by +

Recently one of my out of state clients who is looking to buy an investment home in Seattle asked “Is it necessary in Seattle to...

read more

How much home do I qualify for with a $70,000 down payment?

Jan 24, 2013 by +

I’m working with a couple in Seattle who would like to buy a home. They have excellent credit (scores of 740 or higher) and are...

read more

APR is not the best tool for shopping mortgage rates

Oct 3, 2012 by +

APR was created by our government to help consumers select a mortgage rate. It was intended to be a tool that would allow someone to...

read more

Should I refinance my car before buying a home?

Sep 19, 2012 by +

Short answer: probably not.  Why? The refinance of the car will impact your credit score as if you have purchased a new...

read more

How can a preapproval change?

Sep 14, 2012 by +

When someone becomes “preapproved” for a mortgage, it boils down to they qualify for a certain mortgage payment based on...

read more

Tis the Season for Vacations

Aug 9, 2012 by +

Many families are squeezing in a vacation during the remaining days of summer. I can’t blame them, I’m just back from one...

read more

Where will mortgage rates be in December?

Jul 27, 2012 by +

I recently met with a couple who are getting ready to buy their first home. I love that they are meeting with me several months in...

read more

More Listing Agents Performing “Sniff Test” on Mortgage Originators

May 21, 2012 by +

I’m noticing that more listing agents are performing, what I like to call, “sniff test” to check out the lender who...

read more

Seattle Bidding Wars: What You Need to Know to Help “Win” Your Home

Apr 24, 2012 by +

I’m noticing more “bidding wars” on new listings in the greater Seattle-Bellevue area. Because of the lack of...

read more

Reader Question: Does Getting a Mortgage Preapproval Impact my Credit Score?

Apr 18, 2012 by +

One of my Seattle subscribers wrote me to ask this great question:   “I’m considering purchasing a home soon, but...

read more

Buying a Vacation Home in Washington

Mar 29, 2012 by +

Washington State has so many great areas for folks to vacation in.  From the deserts in eastern Washington, rugged mountains, the...

read more

What Do You Need for a Preapproval?

Feb 16, 2012 by +

If you’re considering buying a home, many real estate agents and/or sellers will require a preapproval letter. A preapproval...

read more

What’s the difference between Fannie Mae Homepath and Freddie Mac Homesteps?

Feb 11, 2012 by +

EDITORS NOTE: Mortgage programs and guidelines often change… you can find an updated version of this post here. Fannie Mae and...

read more

Buying a $500,000 Seattle Home with 10% Down

Jan 24, 2012 by +

I was recently contacted by a home buyer in Seattle who wanted to know what mortgage programs we have available for a sales price of...

read more

HUD extends Waiver for “Anti-Flipping” Rule through 2012

Dec 28, 2011 by +

UPDATE: HUD HAS ANNOUNCED THIS WAIVER WILL BE EXTENDED THROUGH DECEMBER 2014. HUD recently announced they will extend their...

read more

The Low Down: Comparing FHA to Fannie Mae Homepath Mortgages

Sep 13, 2011 by +

If you're thinking about buying a home with minimum down payment requirements in the greater Seattle area, you may be considering...

read more

How much can Sellers contribute towards Closing Cost?

May 12, 2011 by +

If negotiated in your purchase and sales agreement, a Seller may agree to chip in towards some or all of your bona fide closing costs,...

read more

Buying a Condo or Townhome?

Nov 12, 2010 by +

Condos come in many forms including high-rises, converted apartment buildings and even some town-homes may be condominiums...

read more

The Mortgage Process: Contemplating Buying a Home to Getting Preapproved

Nov 9, 2010 by +

For a while now, I’ve had this idea floating around in my head that with four years of articles at Mortgage Porter, I really...

read more

Buying a Home with Owner Occupied Financing After Refinancing Your Home as Owner Occupied

Oct 28, 2010 by +

I’m seeing a trend where home owners are refinancing their current home as “owner occupied” and then weeks after...

read more

How Much Do I Need for Down Payment to Buy a Home?

Oct 19, 2010 by +

When you buy a home, most loans require a down payment.  A “down payment” is the difference between the loan...

read more

How to Buy a Seattle Home with $10,000

Apr 28, 2010 by +

NOTE: Mortgage rates quoted in this post from April 2010 are outdated and no longer valid. For a current mortgage rate quote for a...

read more

Can I Convert My Existing Home to an Investment Property to Buy My Next Home?

Apr 27, 2010 by +

This is a common question I’m asked these days…mostly because many home owners don’t have as much equity as they...

read more

What Should a Preapproval Letter Contain?

Apr 21, 2010 by +

This isn’t the first time I’ve written about preapproval letters at The Mortgage Porter…however it has been a while...

read more

How Much Home Can I Afford?

Oct 8, 2009 by +

This is a common question from first time home buyers.  When working with home buyers who are just beginning the process,...

read more

Relocating to Washington State and Getting Preapproved for a Mortgage

May 5, 2009 by +

When relocating to a new State, many want to have their next home purchased to avoid the inconvenience of having to move twice...

read more

Is My Preapproval Still Valid with all the Rate Changes?

Oct 29, 2008 by +

My clients and readers ask such great questions…I just received this one from one of my clients that I’ve been working...

read more

Tips for homebuyers and sellers

Sep 25, 2008 by +

Yesterday I was interviewed by Melinda Fulmer for a MSN Real Estate article.   Here were a few of my pointers (with some...

read more

Buying a home contingent

Jun 11, 2007 by +

I’m noticing more contingent offers lately.  This is when someone makes an offer to purchase their next home and the offer...

read more

Getting on Track to Buy Your First Home

Apr 2, 2007 by +

Last fall, a Mom made an appointment with me to meet with her children about buying a home.  It was so cool.   First...

read more

Preapproval Letters Defined

Jan 19, 2007 by +

The preapproval letter is a tool typically drafted by a loan originator to be used by a buyer’s real estate agent when presenting...

read more