If you own a condo in Washington and you’re thinking about selling, this one’s for you. Most sellers get their home ready with paint and staging — but very few think about whether their condo project itself is financeable and what the financing options are.
Rhonda Porter, Mortgage Advisor
Credit and Financial Strategy
Your mortgage approval doesn’t start with a rate — it starts with your credit profile and financial structure.
In this section, you’ll find educational articles on:
- Credit scores and reporting
- Debt-to-income ratios
- Mortgage insurance
- Bankruptcy recovery
- Financial planning considerations
- Long-term homeownership strategy
Understanding how lenders evaluate credit and income allows you to prepare strategically rather than reactively.
My goal is to help you improve your financial scenario — whether that means preparing to buy, restructuring debt, or planning your next move.
Common Misconceptions about Reverse Mortgages
August 16, 2026 by 1 Comment
If you’ve ever discussed reverse mortgages with friends or family, you’ve probably heard some version of “the bank takes your house” or “it’s only for people who are broke”. I hear myths like this constantly, and most of them are out of date or simply not accurate. Reverse mortgages have changed a lot over the years and can be very beneficial for seniors who are sitting on significant home equity and who want to stay in their homes. With that said, reverse mortgages may not be the right choice for everyone.
My goal with this post is to help clear up the most common misconceptions I run into and put reverse mortgages in context with other mortgage options available for people who are 62 and older. As always, I like to provide as much information as possible to help you make informed decisions about your finances. [Read more…]
Retirement, Social Security, Disability, Assets & Other Income: What Counts Toward Your Mortgage
August 6, 2026 by 1 Comment
Not all qualifying income comes from a paycheck. If you’re retired, receiving Social Security or disability benefits, collecting alimony or child support, or drawing income from investments or a trust, that income can often be used to qualify for a mortgage — but each type comes with its own documentation rules and quirks.
This rounds out the income series I’ve been building — if you haven’t seen the others, they cover salary, hourly, and variable income, bonus, overtime, and commission income, RSU and restricted stock income, self-employed and 1099 income, and rental income. This post covers everything else — income you receive independent of currently working. [Read more…]
Mortgage Reserves: How Much You Need & Where They Come From
July 23, 2026 by 3 Comments
This post explains how lenders calculate post-closing reserve requirements under conventional (conforming) guidelines, and how FHA, VA, jumbo, and Non-QM programs differ. Reserve rules vary by lender overlay, so figures here reflect agency minimums — always confirm current requirements with your loan officer before making financial plans.
What “reserves” actually means
When underwriters talk about reserves, they’re not talking about your down payment or closing costs — those are separate. Reserves are the liquid assets you’d have left after your loan closes: money in the bank that could cover your mortgage payment if your income disappeared tomorrow. [Read more…]
Aging in Place in Washington: Homeowners Have Options
July 8, 2026 by 1 Comment
Editor’s note: This post was inspired by a recent HousingWire interview with Cameron Carter, CEO of Rosarium Health, on why aging in place is shifting from a lifestyle preference to a financial necessity. You can read the full interview here.
Aging in Place Is Becoming a Financial Necessity, Not Just a Preference
For years, “aging in place” has been talked about as a lifestyle choice — the version where you simply prefer your own kitchen to a facility dining room. That framing is changing. In a recent HousingWire interview, Cameron Carter, founder of health-tech startup Rosarium Health, made the case that aging in place is increasingly driven by cost and capacity, not preference: skilled nursing and assisted living have gotten more expensive, and in some states the wait list to get into preferred institutional care runs two to three years. People aren’t just choosing to stay home — in many cases, they’re staying home because there’s nowhere else to go yet. [Read more…]
