Complete Guide to Accessory Dwelling Units

June 6, 2024 by Leave a Comment

Washington is in the top 3 states for leading the country with the addition to accessory dwelling units! This type of housing makes it possible for providing housing to aging parents, adult children who are priced out of the market, a workspace or to provide income as a rental property.

If you have been contemplating adding an ADU to your home or finding a home with (or that could have) an ADU, I encourage you to check out my latest resource guide: Accessory Dwelling Units.


If you’re interested in learning more about financing options, I am happy to help you!

Filed Under: ADU & DADUs, HomeReady, HomeStyle, Investment Property, Manufactured Homes, New Construction, Remodel, Vacation and Second Homes Tagged With: , , ,

Home Buying Hack for Roommates

May 23, 2024 by Leave a Comment

I have a great tip for you if you’re currently renting with a roommate and considering buying a home. The HomeReady program allows for you to use “boarder income” to qualify for your next home. If you’re thinking about buying a home where your roommate will continue to pay you rent, you may be able to use that rental income for qualifying for your new mortgage on a one-unit home. [Read more…]

Filed Under: First Time Home Buyer, Home Possible, HomeReady Tagged With: , , , ,

Price Adjustments coming soon to Conforming Mortgages

January 24, 2023 by Leave a Comment

Last week, the FHFA (Federal Housing Finance Agency) announced changes to how conforming mortgages are priced with loan-level price adjustments (LLPAs). Some borrowers will find improved pricing where others will have to pay more in fees. The fees are typically incorporated into the interest rate for the mortgage.

From Fannie Mae’s Lender Letter dated January 19, 2023:

“We are implementing additional changes to our LLPA framework that represent the next step in our effort to increase support for borrowers historically underserved by the housing finance market…”.

[Read more…]

Filed Under: Fannie, Freddie and FHFA, First Time Home Buyer, Home Possible, HomeReady, Interest Rates Tagged With: , , , , , , ,

Buying a Home Using Your S.O.’s Income

February 25, 2019 by Leave a Comment

Recently I helped a couple buy a home in King County. They’re engaged, had been living together for many years and were ready to purchase their first home. One of them, Billy Bellevue, had some credit issues and it made more sense for them to only have Susie Seattle’s on the transaction. [Read more…]

Filed Under: First Time Home Buyer, HomeReady Tagged With: , , ,

Common Misconceptions about FHA and Conventional Mortgages

June 1, 2018 by Leave a Comment

I just received a newsletter from a local real estate agent which had an article about whether buyers should opt for a conventional or FHA loan. I’m pretty certain the real estate agent didn’t write the article, however the author, whoever they are, got a lot of things wrong regarding these two mortgage programs. Many of the items that were wrong are what I think are fairly common misconceptions with these two popular mortgage programs. So I thought this was a grand opportunity to write a post to correct them…I’ll skip the fine hairs 😉 [Read more…]

Filed Under: Fannie, Freddie and FHFA, FHA, First Time Home Buyer, Home Advantage Program, Home Possible, HomeReady, Rant Tagged With: , ,

Reason to stop paying rent #7: You have a pet

April 24, 2018 by Leave a Comment

I love my pets, Rocko and Hitch. We have had pets before we had (our now adult) children. I totally understand someone’s anguish when they are trying to deal with where they are going to live when they have pets.
This morning, I was catching up on Facebook and in our local neighborhood group for West Seattle, a neighbor is worried about if their landlord is getting ready to sell the home they are currently renting. [Read more…]

Filed Under: HomeReady, Interest Rates, Residential Purchase, Seattle Tagged With: , , ,

Financing a “multi-generational” home

June 28, 2017 by Leave a Comment


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…]

Filed Under: Fannie, Freddie and FHFA, FHA, Financial Planning, HomeReady, Residential Purchase, Retirement, Uncategorized

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…]

Filed Under: Fannie, Freddie and FHFA, FHA, Home Possible, HomeReady
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