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…]

Appraisals waived for some refinances!

mortgageporterhomeFannie Mae will begin offering appraisal waivers on some refinance transactions. This is great news as it will help transactions that qualify have a quicker closing and help reduce the work load for appraisers which will hopefully help expedite current appraisal turn-times. This will also help home owners save money on their transaction by not having to pay an appraisal fee, which have gone up dramatically over the last few months. [Read more…]

Fannie Mae increases income limits for HomeReady

iStock_000009450603SmallFannie Mae will be increasing the income limits for HomeReady effective July 16, 2016 making it easier for more people to qualify for this mortgage program. [Read more…]

Fannie Mae’s HomeReady Mortgage for Refi’s

Fannie Mae’s HomeReady Mortgage program offers low down payment, reduced mortgage insurance and no price adjustments (LLPA) translates to lower mortgage interest rates…AND is not just for home buyers. Fannie Mae’s HomeReady mortgage program is also available for home owners interested in refinancing. [Read more…]

Mortgage Rates are LOW!! It’s time to refi…again!

Going Down Arrow Mortgage rates have been very low the past couple of days creating a flurry of refinances.

Just how low? Try 3.500% for a 30 year fixed conventional mortgage (apr 3.652%) priced with 1.152 points.

And how about 2.750% for a 15 year fixed conventional mortgage (apr 3.022%) priced with 1.199 points.

Rates quoted above are as of May 6, 2016 as of 12:30 pm PST and are subject to change at any time and are subject to credit approval. Click here for your no hassle mortgage rate quote for homes located anywhere in Washington state.

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Freddie Mac PMMS “Lower than expected” Mortgage Rates!

feb 4 pmms
This morning Freddie Mac released their weekly Prime Mortgage Market Survey report with a title that I couldn’t agree with more: “Lower-than-expected mortgage rates offer refinance opportunity“.

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Mortgage Rates drop to lowest of 2016

mortgageporter-economyThe DOW is getting hit hard again today. As I write this (10:16 am PST), the Dow is down 446! Bad news for the stock market equals good news for mortgage interest rates. Investors are seeking safety by pulling funds from stocks and investing in bonds, like mortgage backed securities.

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Freddie Mac Reports that Mortgage Rates continue to trend Lower

PMMS Jan 14 2016The Prime Mortgage Market Survey reports that last week, the 30 year fixed averaged 3.92 percent with an average 0.6 point.  The week prior, the reported average was 3.97 percent. A drop in rate of 0.05%.

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