Home Buyer Class in Lake Forest Park

Seattle Home Buyer Classes

I will be teaching a home buyer class in Seattle with Jim Repppond of Coldwell Banker Danforth on Saturday, January 24, 2015 at the Lake Forest Park Library.

The class is sponsored by the Washington State Housing Finance Commission. Students who attend are eligible for programs like Home Advantage or House Key Opportunity (the Washington state bond program) or Freddie Mac Home Possible. Students are also eligible for various down payment assistance programs and MCC (mortgage credit certificates).

If you are considering buying a home with your spouse, partner or friend, they will need to attend the class with you to qualify for the programs.  You do not need to be a first time home buyer to qualify for many of the mortgage programs. And of course, you’re welcome to attend if you’re not interested in down payment assistance programs and you just want to learn more about the home buying process.

Space is limited, so please RSVP today

When: Saturday, January 24, 2015 from 11:00 am – 4:00 pm. We do our best to wrap up the class by 4:00 pm. The WSHFC requires that the classes be at least five hours.

Where: Lake Forest Park Library is located at 17171 Bothell Way NE, Lake Forest Park, WA 98155. Click here for map and directions.

Cost: FREE and lunch is provided!  Typically lunch is something like pizza.  If you have any special dietary needs or preferences, please bring a sack lunch. We will be teaching through lunch in the interest of keeping the class time shorter.

RSVP for our Seattle Home Buyer Class by clicking here.

Click here to see all current home buyer classes that I’m teaching.

Reduced Down Payment Conventional Loans may require Compensating Factors

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Conforming Mortgages set to Reduce Minimum Down Payment

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From his prepared speech:

“To increase access for creditworthy but lower-wealth borrowers, FHFA is also working with the Enterprises to develop sensible and responsible guidelines for mortgages with loan-to-value ratios between 95 and 97 percent. [Read more…]

House Key Opportunity aka Washington State Bond Mortgage Program ending soon

Washington State Bond House KeyI just received notice from the Washington State Housing Finance Commission that they will stop accepting reservations for the House Key Opportunity program effective October 15, 2014 at 4:00 pm. Reserving funds is essentially locking the loan and committing to delivering the transaction to WSHFC. Reservations cannot be done unless there is a bona fide transaction with a closing date that will meet the delivery date of the reservation (lock period).

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Kent Home Buyer Education Class

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Seattle Home Buyer Education Class on November 8, 2014

Seattle Home Buyer ClassesNOTE: This class has been rescheduled for another date and location.

I will be teaching a home buyer class in Seattle with Jim Repppond of Coldwell Banker Danforth on Saturday, November 8, 2014 at the Greenwood Library in Seattle.

The class is sponsored by the Washington State Housing Finance Commission. Students who attend are eligible for programs like Home Advantage or House Key Opportunity (the Washington state bond program) or Freddie Mac Home Possible. Students are also eligible for various down payment assistance programs and MCC (mortgage credit certificates).

[Read more…]

Congratulations to the Washington State Housing Finance Commission!

iStock_000009450603SmallI’ve just learned that last month, the Washington State Housing Finance Commission did their 50,000 closing! In other words, WSHFC has helped over 50,000 families buy a home in Washington state using one of their first mortgage and down payment assistance programs. The 50,000th home buyers are from Federal Way and represent a typical Home Advantage home buyer:

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Home Advantage Mortgage with or without Points

2013-03-07_0746The Washington State Housing Finance Commission has recently offered more pricing options with their Home Advantage first mortgage program.  Originally, all Home Advantage products were priced with 1 point.  One point equals 1 percent of the loan amount and is paid at closing. This closing cost cuts into the down payment assistance that many home buyers are hoping to utilize when they are using the Home Advantage Mortgage program.

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