Happy 15th Bloggoversary to The Mortgage Porter

December 1, 2021 by 4 Comments

It’s hard to believe that 15 years ago, I began “blogging” with The Mortgage Porter. When I started this blog late November 2006, I would have never imagined that it would become such an important part of my mortgage career.

I’ve met some wonderful people and have had amazing experiences that would have not happened had I not started typing out my first post about the beginning of mortgage originators being licensed (or just registered if they work for a bank or credit union). I would have never imagined that I would be interviewed, be asked to speak at events and that I would wind up attracting clients I really enjoy working with all from blogging. It’s truly been a gift that I’m thankful for! [Read more…]

Filed Under: Just for Fun Tagged With:

BREAKING NEWS: 2022 FHA Loan Limits

November 30, 2021 by Leave a Comment

HUD has announced loan limits for FHA mortgages for 2022. Just like conforming loan limits that I announced just a few hours ago, loan limits are higher for 2022 except for San Juan County, which has the same loan limits as 2021. King, Pierce and Snohomish Counties have a loan limit of $891,250 for 1-unit properties.

FHA has more various loan limits by county than conforming. Here is a complete list for counties in Washington state. [Read more…]

Filed Under: FHA Tagged With: ,

Breaking News: 2022 Conforming Loan Limits

November 30, 2021 by Leave a Comment

The FHFA has announced the conforming loan limits for 2022. The conforming loan limit for a one-unit property will be $647,200. This is an increase of $98,950 from the 2021 loan limits. Homes located in counties designated as “High Balance”, such as King County, Pierce County and Snohomish County, will have higher loan limits.

Here is a complete list of the 2022 Conforming Loan Limits for homes located in Washington state. [Read more…]

Filed Under: Fannie, Freddie and FHFA Tagged With: , ,

Mortgage Rates Moved Higher Last Week

November 18, 2021 by Leave a Comment

Freddie Mac released the Prime Mortgage Market Survey (PMMS) showing average mortgage interest rates for LAST WEEK. Yes…last week’s mortgage rates are old news but this does illustrate where rates have BEEN and what direction they may be moving. [Read more…]

Filed Under: Interest Rates Tagged With: ,

2022 Conforming Loan Limits?

October 20, 2021 by Leave a Comment

Typically in late November, conforming loan limits are announced for the following year. Loan amounts under the conforming loan limit tend to have lower interest rates than loan amounts that are “high balance conforming” (available in certain counties, such as King, Pierce and Snohomish) or jumbo mortgages. [Read more…]

Filed Under: Fannie, Freddie and FHFA, Uncategorized Tagged With:

How Does Dave Ramsey’s Advice on Mortgages Pencil Out?

October 14, 2021 by Leave a Comment

Last month I wrote about advice I’ve been seeing popping up in my Facebook feed from Dave Ramsey on mortgages. There are several points that I just don’t find realistic for the average person who wants to buy a home, such as only using a 15 year amortized mortgage with 20% down payment and limiting your mortgage payment to 25% of your take home pay. I promised that I would share a follow up post where I review different scenarios comparing his advise to real life scenarios. [Read more…]

Filed Under: Down Payment Assistance, FHA, Financial Planning, First Time Home Buyer, Home Advantage Program, Opinion, Residential Purchase Tagged With: , , ,

Should You Follow Dave Ramsey’s Advice on Mortgages?

September 29, 2021 by 2 Comments

Dave Ramsey is someone a lot of people follow for financial advise. Lately he’s been showing up A LOT in my Facebook stream pushing his thoughts on mortgages, home ownership and credit. Some of his ideas, I don’t totally disagree with. In fact, I shared a post that came from his group encouraging people to continue to pay rent and make their mortgage payments during the pandemic if at all possible (ie nothing is for free). However, I don’t support what he instructs his followers who are considering buying a home and I also have an issue with anyone who pushes their “team of vetted real estate agents”…I would be really surprised if there is not some sort of financial relationship associated with this referral arrangement.

Let’s take a look at what he encourages his followers to do with regards to buying a home or getting a mortgage. [Read more…]

Filed Under: Financial Planning, Opinion, People Tagged With: , , , ,

Mortgage Rates Lumbering Low

September 9, 2021 by Leave a Comment

Freddie Mac’s PMMS shows mortgage rates remaining at low levels.

From Freddie Mac’s Chief Economist, Sam Khater:
“While the economy continues to grow, it has lost momentum over the last two months due to the current wave of new COVID cases that has led to weaker employment, lower spending and declining consumer confidence. Consequently, mortgage rates dropped early this summer and have stayed steady despite increases in inflation caused by supply and demand imbalances…”

[Read more…]

Filed Under: Interest Rates Tagged With: ,
« Previous Page
Next Page »