Helping Washington State homeowners learn more about their mortgage options.
If you’re waiting for home prices to come down or interest rates to improve a bit more; I hope you’ll read an article recently penned by David Stevens: A Reminder: Home Prices Always Rise Over Time | LinkedIn
David has an extensive background in the mortgage industry, including serving as the Assistant Secretary of Housing and Federal Housing Commissioner for the United States Department of Housing and Urban Development (HUD). [Read more…]
If you are looking at adding to your real estate investment portfolio, I may have some good news for you! We have a new program that allows investors to qualify for a mortgage based on the property’s cash flow. [Read more…]
If you have been thinking about buying a home this spring, you’re not alone. Experts predict there is quite a bit of pent-up demand following the recent sellers’ market and higher interest rates. Many homebuyers have been waiting patiently for a cooler market with lower interest rates…the key word here is MANY. It’s not anticipated that we will see a flood of new listings as homeowners who currently have extremely low mortgage interest rates seem to be less likely to want to sell and lose the rate. As people start to list their homes in the new year, and more buyers get off the fence, we could see housing prices push higher or at the very least, stay the same as the demand for homes is still strong. [Read more…]
If you tried buying a home over the last few years, you probably lost out to buyers who made cash offers. Sellers tend to prefer cash offers because they can close faster and there are less uncertainties when they are not relying on a mortgage approval from a lender they don’t know. Even in a buyers’ market, a seller will most likely prefer a cash offer over one that is dependent on financing or the sale of another property.
We have a solution! You can also enjoy the convenience of an all-cash buyer with a cash buyer program. This works for first time home buyers and for clients who want to buy before they sell their existing property. [Read more…]
6:49 a.m. Well… it’s kind of a live post – I will be updating this post throughout the day. This morning, all eyes are on the FOMC (aka “the Fed”) as we wait to learn how much the Fed funds rate will be adjusted. It is anticipated that the Fed will push the rate 0.500% higher today. This will directly impact loans that are attached to the Prime interest rate, such as home equity loans and many credit cards with variable rates. [Read more…]
HUD has just announced the 2023 loan limits for FHA mortgages. FHA loan limits vary by the county the home is located in. In Washington state, every county except for San Juan County, has higher loan limits.
Here are the 2023 FHA loan limits for homes located in Washington state: [Read more…]
Conforming loan limits for 2023 are going up for homes located in Washington state.
The following counties have “high balance” loan limits: [Read more…]
3-2-1 and 2-1 seller buydowns allow homebuyers to have below market interest rates. The seller is essentially prepaying a portion of the buyers mortgage payment to effectively “buy down” the payment for a specific period of time. [Read more…]
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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