It’s becoming more common for families to have multiple generations living under the same roof. Some families opt to commit to buying a “multi-generational” home together designed to accommodate their lifestyle, whether it’s a home with an attached or detached dwelling unit (aka mother-in-law apartment) or even a home built specifically for generations to live together, there are options available for living with your parents and/or grown children. [Read more…]
Financing a “multi-generational” home
June 28, 2017 by Leave a Comment
FHA vs Conventional Low Down Payment Mortgages for Home Buyers
May 23, 2017 by Leave a Comment
It is a very competitive market for home buyers in the greater Seattle area. I’m finding that many of my clients who are using FHA for financing are not feeling the love from home sellers. It’s not unusual for home sellers, or more likely their Listing Agent, to steer away from FHA offers when a conventional offer is in hand. [Read more…]
Updates to Fannie Mae Guidelines
May 2, 2017 by Leave a Comment
Last week, Fannie Mae released Selling Guide Announcement SEL-2017-04 with underwriting updates, including the special pricing for when home owners refinance their home to pay off student loans. Fannie Mae is the Federal National Mortgage Association and basically provides funding for conventional “conforming” loans. [Read more…]
Appraisals waived for some refinances!
December 5, 2016 by 2 Comments
Fannie Mae will begin offering appraisal waivers on some refinance transactions. This is great news as it will help transactions that qualify have a quicker closing and help reduce the work load for appraisers which will hopefully help expedite current appraisal turn-times. This will also help home owners save money on their transaction by not having to pay an appraisal fee, which have gone up dramatically over the last few months. [Read more…]
2017 Conforming Loan Limits for Washington State
November 23, 2016 by Leave a Comment
Conforming loan limits are getting their first increase in ten years.
Conforming high balance areas for King, Snohomish and Pierce counties have have higher limits for 2017 as well.
San Juan County’s high balance conforming loan limit is unchanged from 2016. [Read more…]
BREAKING NEWS: Conforming Loan Limits INCREASED for 2017
November 23, 2016 by Leave a Comment
Conforming loan limits have been increased for 2017.  The last time conforming loan limits were raised was in 2006. Conforming loan limits for the last ten years for a single family dwelling have been limited to $417,000, unless the home was located in a county with a high balance conforming loan limit. High balance conforming loan limits for the greater Seattle area have been raised as well to $592,250 for a single family dwelling. [Read more…]
Fannie Mae’s HomeReady Mortgage
April 13, 2016 by 1 Comment
The HomeReady Mortgage is a mortgage program created by Fannie Mae intended to help low-to-moderate income borrowers with good credit buy or refinance a home.
Here are more details about the HomeReady Mortgage:
2016 Conforming Loan Limits for Washington State Mortgages
November 25, 2015 by Leave a Comment
Conforming loan limits for homes in King County, Snohomish County and Pierce County received a boost with the high balance conforming loan limits of $23,000 for single family dwellings.
All other counties in Washington state will have 2015 conforming loan limits.
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