Helping Washington State homeowners learn more about their mortgage options.
Many homeowners in our area may be sitting on quite a bit of home equity that they could use to purchase their next home. When it’s not a “buyer’s market”, you may have lower odds of a seller wanting to accept an offer if it’s based on needing to sell and close on an existing home. In order to have your offer accepted, it’s helpful to put forward an attractive offer that will make it easier for the seller to select your offer over others.
Here are some programs that can help! [Read more…]
The housing market in the Pacific Northwest remains competitive with the continued lack of inventory. Home buyers need to be patient and prepared for the process to possibly take a while. There are some actions that you can implement to help improve your odds of having your offer accepted over other offers. [Read more…]
The Existing Home Sales was released yesterday which reports on the closings of existing single-unit homes.
Would you be surprised to know that last month, 31% of all sales were first-time homebuyers? [Read more…]
It’s fun to visit open houses on the weekends. You may be picturing yourself living in the home, enjoying the backyard or perhaps making a few home improvements to really make it “yours”.
If you’re even thinking about buying a home, I strongly encourage you to get fully preapproved before you find yourself at an open house wanting to present an offer.
Here are some steps I recommend for anyone considering buying a home. [Read more…]
Bridge loans allow people who want to buy their next home to access a portion of their home equity to use as down payment and/or closing cost. They have been around for quite a while and has been a great tool to help accommodate home purchases. When I was at Mortgage Master, we offered bridge loans to qualified borrowers. [Read more…]
If you’re a homeowner wanting to buy your next home, you might be feeling reluctance to trade your existing interest rate for a current mortgage rate. It’s easy to understand when mortgage rates are double from what they were a few years ago. Historically speaking, mortgage rates are actually closer to what would be considered more of an average range than the Fed manipulated rates of years past.
I may have some good news for you. No, it’s not a trick…this can actually be a treat! [Read more…]
Seattle area Real Estate Broker, Kim Mulligan, posted this on Facebook a couple of days ago regarding a recent listing:
“For those of you that were clamoring to be my neighbor, I have bad news. A pricing war ensued and an offer was chosen last night. Ends up we had well over 80 parties tour the home in two days, several offers came forth, and a lucky buyer will get to share a fenceline with me. Why do I mention this? Many people think that there isn’t a market right now because of interest rates. Yes, buyers are careful and shy. The truth is some people have to move in any market. Sellers don’t need to be afraid to list their homes. Yes, buyers are choosey, but priced and presented well, and with the right lender where you can change your interest rate when it drops down again, your home could sell within 3 days as well!” [Read more…]
Many Americans took advantage of the extra low rates that were available during the pandemic years. Some may be feeling trapped at having a rate in the 3% range since we’ve returned to a more historically “normal” range. [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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