Mortgage Programs

Not all mortgage loans are the same — and choosing the right program can make a significant difference in your payment, qualification, and long-term financial flexibility.

This section covers the most common and specialty mortgage programs available to homebuyers and homeowners, including:

FHA Loans

VA Loans

USDA Loans

Conventional & Jumbo Loans

HomeReady & Home Possible

Down payment assistance programs

Washington State Housing Finance Commission (WSHFC) programs

Specialty programs for medical professionals and unique scenarios

Understanding eligibility guidelines, loan limits, credit requirements, and program benefits allows you to compare options strategically rather than relying on headlines or general advice.

As a Mortgage Advisor with over 25 years of experience, I help clients evaluate which program best aligns with their income, assets, and long-term plans.

Explore the programs below to better understand your options.

HUD’s reducing Mortgage Insurance on FHA Mortgages

Visit here for an updated guide to FHA mortgages for homes in Washington state.

HUD has announced today that mortgage insurance will be reduced on most FHA mortgages. FHA mortgages have two types of “mortgage insurance” the borrowers pay regardless of loan to value. There is the upfront mortgage insurance (currently 1.75% of the loan amount) that is typically added to the base loan amount and financed over the life of the loan and there is the annual mortgage insurance that is actually paid as part of the monthly mortgage payment. This reduction of 25 basis points is on the annual mortgage insurance premium.

Visit here for a complete guide on FHA loans with current loan limits for homes located in Washington state.

HUD has just announced FHA loan limits for 2017. Loan amounts were increased for all Washington counties EXCEPT for Chelan, Callam, Douglas, Jefferson, San Juan and Skagit which have the same FHA loan limits as 2016.

Loan limits for 2017 are in effect with FHA case numbers issued in 2017.

Visit here for a complete guide to FHA mortgages including current loan limits for homes located in Washington state.

HUD has updated their website with the 2017 loan limits for FHA mortgages. King, Pierce and Snohomish counties will match the 2017 conforming high balance loan limits. FHA loan limits are effective with CASE NUMBERS issued in 2017. [Read more…]

How to Buy a Home with your Roommate

Fannie Mae’s HomeReady mortgage allows a home buyer to qualify using “boarder income”. What does this mean? Remember our favorite roommates Laverne and Shirley?