USDA has released new income limits effective April 1, 2015. USDA offers a no-down payment mortgage program which is available in rural areas (typically a town with population of 10,000 or less). USDA does not have loan limits, the program is limited by household income and if the property is in a USDA designated location.
Archives for April 2015
What May Impact Mortgage Rates this Week: April 13, 2015
April 13, 2015 by 1 Comment
Mortgage rates have been bouncing in a fairly tight range. Although we don’t have any economic indicators scheduled to be released today, the rest of this week is packed:
Condos not so hot? Neither is bad data!
April 13, 2015 by 2 Comments
Recently Travis Pittman of King 5 news shared his personal story about how he is unable to sell his condo in Kent. He sites part of the reason that he is unable to sell the condo is because of FHA requirements. I do agree, it’s important to keep your condo on FHA’s approved list, however the data that was provided in the article is not entirely correct.
Freddie Mac Reports Rates Improved Last Week
April 10, 2015 by Leave a Comment
Yesterday, Freddie Mac released their weekly mortgage rate survey revealing that mortgage rates trended lower last week following the weaker than expected March Jobs Report.
What May Impact Mortgage Rates this Week: April 6, 2015 – MORTGAGE RATES IMPROVED
April 6, 2015 by 1 Comment
Friday’s weaker than expected Jobs Report surprised the market, causing mortgage rates to improve. This week appears to be a little light on economic calender for indicators scheduled to be released. Watch for the FOMC minutes to be released on Wednesday. You may also want to watch the Seattle Mariners first game of the season this afternoon against the Angels. For the record, I will not be at the game today…it’s a typical work day for me, helping my clients buy and refinance homes around the greater Seattle area. 😉
Not all Home Buyer Classes are the same
April 4, 2015 by Leave a Comment
Home Buyer Classes or Seminars are popping up every where. They are often taught by a Mortgage Originator paired with a Real Estate Agent, both with hopes they will earn a chance to help students with the purchase of their home. Sometimes home inspectors or escrow officers may take part in teaching as well. Class content can vary as well as the length of the class. Some classes will even help students become eligible for down payment assistance programs and/or tax credits (MCC).
How do you know which home buyer class is the right one for you?
My Happy Anniversaries
April 1, 2015 by Leave a Comment
15 years ago today, I left my title and escrow career of fourteen years behind for a career in the mortgage industry at Mortgage Master Service Corporation. When I told the real estate agents that I worked with as their title rep for many years that I was “retiring” to become a loan officer, many thought I was playing an April Fools joke on them!
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