2026 Conforming Loan Limits: What Washington Homebuyers Should Know
December 5, 2025 by Leave a Comment
Low-Down-Payment Programs, Renovation Loans & Down Payment Assistance Options2026 Conforming Loan Limits for Homes in Washington State
November 26, 2025 by Leave a Comment
Turned down for a Mortgage Because of Credit Scores? New Guidelines May Help You!
November 20, 2025 by Leave a Comment
Fannie Mae (conventional lending) recently changed their underwriting guidelines to no longer factor in credit scores for underwriting approval!
Before this guideline change, borrowers needed to have a mid-score of at least 620 to qualify for a conventional mortgage. Scores below 620 could mean that someone may have to opt for an FHA mortgage, which has both upfront and monthly mortgage insurance regardless of the amount of down payment or equity with the property. [Read more…]
The 50 Year Mortgage Idea
November 10, 2025 by Leave a Comment
Over the weekend, the administration bounced the idea of having a 50-year mortgage. This was followed up by the FHFA director, Bill Pulte, stating that they are working on a plan. The reactions to this announcement are across the board with some embracing it as the miracle that will help create more affordability to others viewing it as a subprime product. Mortgage originators have been quick to post rates comparing 50-year amortized mortgages to what may be available with a 30-year. Even if this product becomes available, in my opinion, it’s highly unlikely a 50-year amortized mortgage will have the same rate as a 30-year fixed. Just look at how mortgage rates are priced when you compare a 30-year to a 15-year amortized mortgage. Click here for current mortgage rates for your personal scenario. [Read more…]
Options for Buying a Starter Home
January 22, 2025 by Leave a Comment
Buying your first home is such an exciting and important time of your life. It’s a big step in creating financial freedom for your future. First homes are often referred to as a “starter home” as people tend to live in the home for a shorter period of time and use the equity they gain from appreciation and paying down the mortgage towards buying their next home. [Read more…]
2025 Conforming Loan Limits for Washington State
November 26, 2024 by Leave a Comment
FHFA has announced the conforming loan limits for 2025.
- 1 Unit: $806,500
- 2 Unit: $1,032,650
- 3 Unit: $1,248,150
- 4 Unit: $1,551,250
High Balance Conforming Limits for King, Pierce and Snohomish Counties
- 1 Unit: $1,037,300
- 2 Unit: $1,327,950
- 3 Unit: $1,605,200
- 4 Unit: $1,994,850
Appraisal Waivers Expanded for Conforming Purchases
November 1, 2024 by Leave a Comment
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…]
Fannie Mae’s March Forecast Stomps out 5% Mortgage Rates
March 21, 2024 by Leave a Comment
Fannie Mae released their monthly forecast for mortgage rates. The previous month, they received a lot of attention because of how rosy it was with rates forecasted to hit 5.9% by the end of this year with nearing the mid-5% range in 2025. The March forecast, which was released yesterday, is not as optimistic. [Read more…]
Recent Comments