Helping Washington State homeowners learn more about their mortgage options.
Inspired by my new gingerbread house renovation video!Every home has a story — and sometimes that story includes a little frosting falling off the roof.
In my new Sora-generated video, you’ll see a fun twist: my animated character repairing a gingerbread house as though it were a real remodel. It’s a playful way to highlight a very real mortgage option many homebuyers and homeowners don’t realize exists: renovation loans. [Read more…]
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!
If you have been finding the current lack of inventory a challenge, you may want to consider a renovation mortgage. A renovation mortgage (or rehab loan) allows you to finance improvements to the property beyond the sales price of the home. The renovations begin after closing and there are no restrictions on the types of improvements. You can even use this on your existing home as a refinance if you love your location and neighbors and just want to make changes to your home. [Read more…]
Have you been considering a “mother-in-law” apartment or backyard cottage? This type of dwelling is technically referred to an accessory dwelling unit aka “attached dwelling unit” (ADU) or detached dwelling unit (DADU). [Read more…]
There are many options available for financing home improvements not to mention using cash or available funds.
What type of program is used may depend on the scope and amount of funds needed for the project. We can help you with everything from a home equity line of credit where you can do the work yourself or a full construction loan if you’re working with a vacant lot or a complete tear-down property. Larger projects may require a general contractor and/or to have the contractor approved by the lender.
Loans that do not require a general contractor are our home equity line of credit, stand-alone second mortgage or a cash-out refi. With the home equity loan of credit or second mortgage, you could keep your existing first mortgage (if there is one).
Here are some possible programs to consider: [Read more…]
Last night on Facebook, I saw an ad for a builder’s lender promoting “limited time opportunity special interest rate” when you purchase one of their new homes. This was being shared by a Realtor whom I’m “Facebook Friends” with. I decided to price out this “special rate” and proved that the rate, while very low, is actually not so special.
Rhonda Porter is a Licensed Mortgage Originator MLO121324 living in the greater Seattle area. Rhonda began her career in 1986 in the title and escrow industry and began her mortgage career in 2000. She enjoys helping people understand the mortgage process and started writing The Mortgage Porter in late 2006. Read More…
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