When you’re buying a home with a mortgage, your lender needs to know where every dollar used for the down payment, closing costs, and reserves is coming from. This isn’t optional — it’s a federal requirement, and it applies regardless of loan program. The lender has to document, verify, and approve the source of your funds before your loan can close.
This guide covers what counts as an acceptable source of funds for closing in Washington State, what documentation is typically required, and a few sources that won’t fly with lenders — no matter how legitimate they feel to you. [Read more…]
Today the Federal Open Market Committee (FOMC) wraps up its two-day meeting and announces whether the Fed Funds Rate will change. If you own a home or are thinking about buying one, you’ve probably been watching the headlines. And if you’re like most people, you may be wondering: does what the Fed does today affect my mortgage rate?
Buying in the $800K–$1.5M range in Seattle? Here’s how to choose the right lender.
One of the things I enjoy most about my work is showing buyers that there is almost never just one way to finance a home. Depending on your goals, your down payment, your credit, and how competitive the market is, there are often multiple strategies worth considering — and the right combination can make a real difference in your payment, your offer strength, and your long-term financial picture.
