Helping Washington State homeowners learn more about their mortgage options.
Today, much deserved gratitude will be shared to our Veterans. We honor their courage, sacrifice and service that allow us to have our freedom.
As a mortgage professional, I am thrilled when I have received a purchase and sales agreement where the seller has agreed to allow the Veteran to use their VA loan.
A VA Loan is a benefit that the Veteran has earned. There are no loan limits and offers low to no down payment. [Read more…]
I’m still in sunny California for my nephew’s wedding and will be back home before our next weekly update.
This week is set to be very volatile for mortgage rates with the elections taking place tomorrow. Although we may not have the final results for days, the markets will react.
We also have the Fed (FOMC) wrapping up their two-day meeting on Thursday. It’s widely expected that the Fed will reduce the Fed funds rate by 25 basis points. While this does not directly impact mortgage rates, it does influence the direction of mortgage interest rates. [Read more…]
The FHFA announced expanded guidelines for appraisal waiver increasing the maximum loan to value (LTV) from 80% to 90% on purchase transactions. An appraisal waiver is not guaranteed on all conforming mortgages. Loans are submitted to the automated underwriting systems for Fannie Mae or Freddie Mac, which determine whether or not a transaction will receive an appraisal waiver.
Possible eligible transactions include: [Read more…]
I typically share my weekly update on Mondays; yesterday was a travel day for me. I am writing this from beautiful Palm Desert on “vacation” for a family member’s wedding celebration.
In last week’s update, I shared the economic indicators that may impact rates this week, including: [Read more…]
As the October 31 property tax payment deadline nears, King County Assessor John Wilson has a clear message for seniors: Take advantage of the county’s property tax relief program, which is designed to help seniors reduce their tax burdens and stay in their homes longer.
Thanks to recent legislative changes, the property tax relief program is now accessible to even more seniors. The income threshold has increased to $84,000, making many more residents eligible for a tax exemption that could lower their property taxes by as much as 90%. [Read more…]
What’s influencing mortgage rates this week, what may impact the direction of mortgage rates this (and next) week and 10 factors that impact the pricing of your mortgage rate in this week’s episode.
I just received a notice from a local department store that they are INCREASING my interest rate from 24% to 31%! I’m a bit befuddled since the Fed recently lowered the funds rate by 0.50 and I pay off my account monthly. My credit is excellent. I decided to call the 1-800 number on the notice and was told this is an increase “across the board” and they do not have a lower rate to offer me. I enjoy receiving my benefits from using the card and even though I rarely pay interest as the bill is typically paid off every month, I can’t support this rate. I asked if there was anything I could do and she informed me that I have no options…except to no longer use this card. [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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