Fannie Mae’s HomeReady Mortgage program offers low down payment, reduced mortgage insurance and no price adjustments (LLPA) translates to lower mortgage interest rates…AND is not just for home buyers. Fannie Mae’s HomeReady mortgage program is also available for home owners interested in refinancing. [Read more…]
Puget Sound’s Hot Real Estate Market is Good News for Refis
October 22, 2015 by Leave a Comment
It’s no secret the the Puget Sound region has been experiencing a very hot real estate market… so hot in fact that it may be causing some home buyers to feel a little burned from competing with multiple offers as well as renters contending with rapidly rising rents. Recently KOMO 4 News shared that that Seattle currently has the nations hottest housing market. This is not only good news for those who are wanting to sell their homes, it’s also good news for home owners who may benefit from a refinance.
What would you do with an extra $372?
March 13, 2015 by Leave a Comment
$372 is the average monthly savings that my clients who have closed on their refi’s so far in March. With higher appraised values, thanks to the hot real estate market driving up home prices, many clients are also eliminating mortgage insurance with their refi.
Delayed Financing: How Cash Buyers Can Access Equity After Paying Cash (Updated for 2026)
February 26, 2015 by 2 Comments
Editors Note: This article on Delayed Financing has been updated for 2026.
Many homebuyers choose to pay cash to win a competitive offer or simplify the purchase process. But after closing, a common question comes up:
“Now that I own the home outright, how can I access some of that equity?”
That’s where delayed financing comes in.
Delayed financing allows buyers who purchased a home with cash to take out a mortgage shortly after closing — without waiting the typical 12-month seasoning period required for a cash-out refinance.
This strategy can be especially useful for buyers who want liquidity, flexibility, or the ability to reinvest funds after a cash purchase. [Read more…]
Lower FHA Mortgage Insurance + Low Mortgage Rates = FHA Streamline Refi’s
February 3, 2015 by 1 Comment
HUD recently reduced annual mortgage insurance premiums for FHA 30 year fixed rate mortgages by 50 basis points. The annual mortgage insurance premium is part of the monthly mortgage payment and 50 basis is a dramatic reduction. If you have a $400,000 loan amount, this is a monthly savings of $166.67 (400,000 x 0.50% divided by 12 months).
Refinancing can help meet your Year End Financial Goals
January 6, 2015 by Leave a Comment
Today’s lower mortgage rates can help home owners with their New Year resolutions. The obvious first benefit of refinancing is often the reduced mortgage payment (or reduced mortgage term). There are simple steps you can take after closing your refi that can make a significant financial impact on your life.
Money Saving Tips You Can Do Now for the New Year
December 4, 2014 by Leave a Comment
The other day, Get Rich Slowly published 14 Smart Money Moves to Make Before the End of the Year which I liked enough to share on my Facebook page and to also included here on my blog. 🙂 There are a couple “smart money moves” that are missing on this post that I would like to suggest for home owners.
How much does a bump in interest rates impact home buyers?
September 26, 2014 by Leave a Comment
I’m reading an article this morning, “When Mortgage Rates Rise”, which addresses something that I’m often asked and that I also addressed recently on post here. Essentially, the “experts” are predicting that we will mortgage rates trend higher to around the 5% range by mid to late next year. Historically, speaking, 5% is not a high rate… in fact, I’m sure I wrote a blog post about when mortgage rates dipped as low as 5% back around 2008 . Our “problem” is that we have become accustomed to fixed rates in the 3 to 4% range. Mortgage rates have been at artificially low levels for a long period. And I agree that we will see this end as the Fed continues to pull back their support of mortgage backed securities.
