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.

BREAKING NEWS: 2022 FHA Loan Limits

November 30, 2021 by Rhonda Porter Leave a Comment

Please visit here for CURRENT information about FHA mortgages for homes in Washington state.

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…]

2022 Conforming Loan Limits?

October 20, 2021 by Rhonda Porter Leave a Comment

UPDATE: Please visit our Conforming Mortgage Guide which includes current conforming loan limits for homes located anywhere in Washigton state.

Typically in late November, conforming loan limits are announced for the following year. Loan amounts under the conforming loan limit tend to have lower interest rates than loan amounts that are “high balance conforming” (available in certain counties, such as King, Pierce and Snohomish) or jumbo mortgages. [Read more…]

Filed Under: Mortgage Programs Tagged With: conforming loan limits

Big Expensive Changes for Second Homes and Investment Properties

March 11, 2021 by Rhonda Porter Leave a Comment

Last night, Fannie Mae announced they are essentially going to be limiting how many second homes and investment properties they will provide mortgages for. This is largely due to the additional risk associated with second homes and investment properties. This goes into effect with loans delivered to Fannie Mae on April 1, 2021 – which pretty much means “immediately” as mortgage loans are delivered to Fannie Mae (or Freddie Mac) after they close…sometimes weeks after they close with the originating mortgage company. [Read more…]

Filed Under: Mortgage Programs Tagged With: conforming, fannie mae, investment property, second homes

2021 FHA Loan Limits for Washington State

December 3, 2020 by Rhonda Porter Leave a Comment

Please click here for current information about FHA mortgages for Washington state homes.

FHA mortgages allow for minimum down payment and do not have income limits. FHA tends to have a little more flexible underwriting than conventional mortgages.

Here is a complete list of the 2021 FHA loan limits for homes located in Washington state: [Read more…]

Filed Under: Mortgage Programs Tagged With: 2021, fha, loan limits

Breaking News: 2021 FHA Loan Limits for King, Snohomish and Pierce Counties

December 2, 2020 by Rhonda Porter Leave a Comment

Please visit here for current information on FHA mortgages for homes located in Washington state.

HUD has announced 2021 loan limits for FHA mortgages. Like conforming mortgages, the loan limits will increase in 2021. Here are the limits for homes located in King, Pierce and Snohomish Counties.

1 Unit: $776,250
2 Unit: $993,750
3 Unit: $1,201,200
4 Unit: $1,492,800

Click here for a complete list of 2021 FHA loan limits for homes located in Washington state.

If you are considering buying or refinancing your Washington state home, I’m happy to help you!

Filed Under: Mortgage Programs Tagged With: 2021, fha, loan limits