Freddie Mac’s Prime Mortgage Market Survey released today shows that mortgage rates improved based on average conforming rates last week.
Archives for May 2018
Qualifying for a mortgage when you pay alimony
May 23, 2018 by Leave a Comment
Recently Fannie Mae and Freddie Mac updated their guidelines to treat alimony payments the same way that FHA has.
With conforming mortgages (Fannie/Freddie) where there is more than 10 months remaining for alimony payments, Fannie Mae and Freddie Mac will allow the alimony to be deducted from gross income instead of being treated as a monthly debt. This often dramatically improves debt-to-income ratios. [Read more…]
It’s Hard Being a Home Buyer in Seattle – Here are some tips!
May 17, 2018 by Leave a Comment
CNN recently published an article about a couple’s experience buying a home in Seattle. In a nutshell, their seventh offer was accepted with multiple offers well over the list price and they were able to close quickly without contingencies with a large earnest money deposit.
Home prices and lack of inventory (which I hope is starting to change) have created a highly competitive situation for those who want to buy a home in Seattle. Buying a home just about anywhere in the tri-county area these days is not for the feint of heart. [Read more…]
Rehab Mortgage Loans for Remodeling Your New or Existing Home
May 15, 2018 by Leave a Comment
Want to build an ADU on your garage? Are you having a hard time finding a home that has your dream kitchen? Whether you are buying or refinancing a home, you may want to consider a “rehab” mortgage. At Mortgage Master Service Corporation, we currently have a couple options available. [Read more…]
Are markets shifting in Seattle?
May 11, 2018 by Leave a Comment
This weekend while driving around my neighborhood in Seattle, I noticed more “for sale” and “open house” signs on homes. It’s a welcome sight after how long we’ve been in this tight market with very little housing inventory. [Read more…]
Mortgage Rates steady last week
May 10, 2018 by Leave a Comment
Freddie Mac’s weekly report (PMMS) on conforming mortgage interest rates from last week shows that rates remained “level” with the 30 year fixed at 4.55% priced with points.
Retirement, random thoughts and your mortgage
May 3, 2018 by Leave a Comment
I read an interesting article about planning for retirement. This is a topic that I find very important. I’m not a financial planner, however as a Mortgage Professional I see a financial snapshot of what people have when applying for a mortgage. I concur with this article from CNBC, most people do not have enough money saved up for their golden years. [Read more…]
32 Years Ago Today
May 1, 2018 by Leave a Comment
My how time goes by when you’re having fun! Thirty-two years ago, I began my career in real estate. My first job was being a “doc-puller” at Safeco Title in Seattle. I really enjoyed being the receptionist for Safeco since I believed that I had more job security…back in those days, employees were quickly hired and laid off depending on what was going on in the real estate industry. This was before title companies used “temps” to fill those types of positions. Eventually I was promoted to work in a title unit. I “retired” from Washington Title Company as a Branch Manager of the Federal Way office in 2000. [Read more…]
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