Helping Washington State homeowners learn more about their mortgage options.
The funding fee for VA mortgages for 2023 have been announced. Great news – the fees for 2023 have been reduced from 2022!
The VA Funding Fee is a one-time charge often added to the loan amount and financed over the term of the mortgage. VA mortgages do not have monthly mortgage insurance premiums (unlike FHA mortgages).
Here are the VA Funding Fees for 2023: [Read more…]
FINALLY!!! HUD just announced that the mortgage insurance on FHA mortgages will be reduced by 30 basis points on most mortgage loans.
FHA mortgages typically have two forms of mortgage insurance. Borrowers pay for both an upfront premium, which is often added to the loan amount and financed over the life of the loan and an annual premium, which is paid monthly. The mortgage insurance which has been reduced is the annual mortgage insurance. [Read more…]
I have just created a page on my blog dedicated to first time homebuyers. Right now, you can access this on the column to the right.
I will be updating this page with information that first time homebuyers or people who have not bought a home recently may find useful. Currently, I have a couple of different scenarios intended to help demystify the homebuying process. I hope you’ll check it out!
If you or anyone you know are thinking about buying their first home or re-entering the home buying market, please feel free to share this with them. 🙂
And of course, I would love to help you with your mortgage needs. Please contact me if I can be of any assistance.
Many Veterans who have served our country have earned the right to have a VA mortgage loan. It’s unfortunate that some sellers as well as real estate agents have a bad image of VA loans and often discourage them. Many years ago, VA loans were sometimes more challenging than conventional financing – this is rarely the case anymore. Some people may falsely assume that if a Veteran is using a VA loan, they must have poor credit or not enough funds for a down payment. A majority of the Veteran’s I have provided mortgages for have excellent credit and plenty of funds for down payment, they opt for the VA loan because they either don’t want to use all of their funds for down payment, or the VA mortgage loan could be providing a lower interest rate than what they would receive with conventional financing. Bottom line, it’s their entitlement that they sacrificed and worked hard to earn. [Read more…]
Hear me out on my latest video and let me know if I can help you with your mortgage needs.
I have been with New American Funding for three months now and have had the pleasure of helping clients with their home purchase and refinancing mortgages. I have been very impressed with how fast we are able to close without sacrificing service. [Read more…]
I had a great time meeting Tony Blodgett at New American Funding’s studio in the Everett office to record an episode of Market Shares. We talk about the transition from Mortgage Master to New American Funding, how I wound up in lending and the current market and more!
Thanks for the interview, Tony!
Rhonda Porter is a Licensed Mortgage Originator MLO121324 living in the greater Seattle area. Rhonda began her career in 1986 in the title and escrow industry and began her mortgage career in 2000. She enjoys helping people understand the mortgage process and started writing The Mortgage Porter in late 2006. Read More…
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