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…]
Options for Buying a Starter Home
January 22, 2025 by Leave a Comment
2025 FHA Loan Limits for Washington State
November 26, 2024 by Leave a Comment
HUD has announced the 2025 loan limits for FHA mortgage loans.
King, Pierce and Snohomish Counties, the loan limits are:
- 1 Unit: $1,037,300
- 2 Unit: $1,327,950
- 3 Unit: $1,605,200
- 4 Unit: $1,994,850
2024 FHA Loan Limits for Homes in Washington State
November 28, 2023 by Leave a Comment
HUD has just announced the 2024 loan limits for FHA mortgages. FHA loan limits vary by the county the home is located in. In Washington state, some counties have higher limits than 2023 and other counties have the same loan limits from 2023.
Here are the 2024 FHA loan limits for homes located in Washington state: [Read more…]
BREAKING NEWS: HUD Reduces FHA Mortgage Insurance
February 22, 2023 by Leave a Comment
FINALLY!!! HUD just announced that the mortgage insurance on FHA mortgages will be reduced by 30 basis points on most mortgage loans.
FHA mortgages typically have two forms of mortgage insurance. Borrowers pay for both an upfront premium, which is often added to the loan amount and financed over the life of the loan and an annual premium, which is paid monthly. The mortgage insurance which has been reduced is the annual mortgage insurance. [Read more…]
2023 FHA Loan Limits for homes in Washington State
December 1, 2022 by Leave a Comment
HUD has just announced the 2023 loan limits for FHA mortgages. FHA loan limits vary by the county the home is located in. In Washington state, every county except for San Juan County, has higher loan limits.
Here are the 2023 FHA loan limits for homes located in Washington state: [Read more…]
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…]
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…]
Home Buyer Classes for Washington State
March 24, 2021 by Leave a Comment
If you are brand new or a little rusty at buying a home, there are some excellent options that are available for you. Some classes feature unique benefits for the students. Before taking one of the courses below, I suggest you reach out to a local, licensed Loan Officer to see if one class may be better suited for your home buying goals.
Here are a few online home buying classes you may want to consider: [Read more…]
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