Tips for Lowering Your Mortgage Payment

Your total mortgage payment consists of the principal, interest, property taxes, homeowners insurance and mortgage insurance (if applicable). If you’re considering buying or refinancing your home, there are some ways that you may be able to lower your total mortgage payment. [Read more…]

Mortgage Market Update for the week of February 5, 2024

Mortgage rates have been “bouncing” around a bit. Check out more on my quick video below.

If you’re considering a mortgage, please reach out to me – I’m happy to help you!

2024 Mortgage Rate and Real Estate Forecast


Spoiler alert! I (along with many others) predict that mortgage rates will be below 6% by the end of this year and that we’re going to see a very competitive housing market due to the lack of inventory. I don’t believe we will see home prices come down or a “correction” with home prices. It is so important to make sure that you are fully approved and have your offer structured correctly when you’re ready to buy a home.

Please check out my video for more information and reach out to me if you would like to create a strategy for purchasing your next home!

Super Fast Closings!

I have been with New American Funding for three months now and have had the pleasure of helping clients with their home purchase and refinancing mortgages. I have been very impressed with how fast we are able to close without sacrificing service. [Read more…]

Honoring our Hometown Heroes

Rhonda_Hometown HeroMortgage Master Service Corporation recently started a program to honor our local heroes. We are now offering a $625 credit towards closing cost for a home purchase or refinance when we provide the mortgage.

Mortgage Master Service Corporation’s Hometown Heroes program is available for:

  • Police Officers
  • Firefighters and EMTs
  • Doctors and Nurses
  • Teachers
  • Military

We thank our heroes for taking care of our community and hope we can take care of you with your mortgage needs.  Please feel free to share this! I’m am honored to help you with any home purchase or refi on homes located in Washington state.

Note: This program cannot be combined with any WSHFC program. Program and pricing subject to change.

 

Mortgage Payment Breakdown

Your mortgage payment typically includes principal and interest and may also include property taxes, home owners insurance. This is often referred to as PITI in the mortgage industry (principal, interest, taxes and insurance). If you have less than 20% down payment or home equity, then you probably have some form of mortgage insurance as well (unless you qualify for a VA mortgage). Some portions of the mortgage payment may change over time. [Read more…]

Fannie Mae’s HomeReady Mortgage

2013-03-07_0746The 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:

[Read more…]

Steps in the Mortgage Process

iStock_000003709509SmallEDITORS NOTE 10/23/2015: This post has been updated to include the new disclosures and wait periods required per the Dodd Frank Act effective on loan applications dated October 3, 2015 and later. Click here to read the updated post.

The process of getting a mortgage consists of several stages and typically takes anywhere from 20 – 40 days (or more) depending on how prepared you are, what mortgage program you have selected and if it’s a purchase, the closing date may dictate how long the process will take. The steps below may not take place in the exact order I have listed and some steps may happen simultaneously.

[Read more…]