UPDATE 5/26/2023: It’s no surprise to me…this home went immediately pending. If you are considering buying a home, it is so important to be fully approved and perhaps better yet, consider using a program that allows you to present an extra competitive cash offer. PS: I can help you with that!
How to Buy This West Seattle Home? Let Me Count the Ways!
May 22, 2023 by Leave a Comment
Sunday Drive to historic Port Townsend
May 21, 2023 by Leave a Comment
This past weekend, we stayed at a vacation rental with our neighbors in Port Townsend. Port Townsend is a charming seaside town located on the northeast corner of the Olympic Peninsula and is about 60 miles away (by car) from Seattle. On this visit, we opted to take the Fauntleroy ferry (located in West Seattle) to Southworth driving north to Port Townsend. If you’ve never been to PT, I highly recommend that you plan a visit. We booked a vacation rental with our friends that was on the northeast end of the Olympic Peninsula. 
[Read more…]
BREAKING NEWS: FHFA Rescinds the DTI Price Hit (LLPA)
May 10, 2023 by Leave a Comment
The Federal Housing Finance Agency (FHFA) announced earlier today that it is rescinding the debt-to-income (DTI) loan level price hit adjustment (LLPA) that was announced in January of this year. Previously, people with a debt-to-income ratio higher than 40% with a loan-to-value greater than 60% would have an additional price hit to their interest rate. This price hit makes it even more challenging for someone who is pushing the DTI limit to remain under the 40% number to avoid having either a higher rate or paying more for the same rate because of the LLPA. The additional price hit for DTI ranged from 0.25%-0.375% depending on the loan to value/how much equity is in the transaction. On a $400,000 loan, this would be an additional cost of $1,000 to $1,500 if paid as “points” instead of having it priced into the interest rate. [Read more…]
5 Steps to Creating Financial Security
April 26, 2023 by Leave a Comment
As a mortgage professional, I get to review detailed financials when someone is looking to buy or refinance a home via their loan application. Sometimes people are using every cent they can or are maxing out their monthly cash flow in order to have a home. I often have people who come to me because they need help restructuring their high-interest credit card debts. And I also help people who are well established. Personally, I would like to see more people on a path to financial security.
Here are a few suggestions for your consideration… not necessarily in this exact order and your plan may vary depending on your financial situation or goals. [Read more…]
It’s official! Freddie Mac reports Mortgage Rates Trending Lower
April 6, 2023 by Leave a Comment
This morning Freddie Mac released their weekly Primary Mortgage Market Survey (PMMS) revealing that mortgage rates slightly improved last week.
It’s important to note that the rates from the PMMS are based on an average from last week… so they are not current.
If you would like me to provide you with current rates based on your personal scenario, I am happy to help you!
Should You Pay Points to Buy Your Interest Rate Down?
April 4, 2023 by Leave a Comment
Since mortgage rates have returned to a more historically “normal” level, many are surprised that mortgage rates a bit higher than they may have been over the past few years. Mortgage rates have been pushed higher largely due to inflation. It’s expected by many industry experts that mortgage rates should improve to the mid-5% range somewhere between this summer to sometime next year. I do not expect to see mortgage rates for the 30 year fixed 4% anytime soon. [Read more…]
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