When Congress resolved the latest debt ceiling with the passing of The Financial Responsibility Act of 2023, both parties agreed to stop the forbearance on student loans payments. Federally backed student loan payments have been paused for the past three years due to the pandemic. Payments on student loans are set to resume following this September and many are not going to be prepared for this. [Read more…]
Holy cats! My credit card interest rates!
July 15, 2022 by Leave a Comment
I decided to take my own advice that I’ve been dishing out about credit cards and debts. Today I reviewed my credit card accounts to see what my current interest rates are. I’m pretty lucky to have great credit and that I’m able to pay off my debts monthly. [Read more…]
Another reason to pay off your credit card debts
July 11, 2022 by Leave a Comment
Yesterday I read an interesting article in the Seattle Times about how (and why) to pay off your credit card debt as soon as possible. The article warns of a slowing economy and future rate hikes by the Fed, which will translate to higher interest rates on credit card debt. In addition to the higher rates, the slower economy may cause some people to have reduced income which will be more challenging with the high interest rate debt.
The article encourages readers to have an emergency savings fund and to focus on paying off credit card debt. [Read more…]
Mortgage rates pushing higher
June 14, 2022 by Leave a Comment
Mortgage interest rates have been moving higher at a pace not seen in years. If you’ve been a subscriber to The Mortgage Porter, you may recall that I often say mortgage rates move up much faster than they come down…the jump over the last few days has surprised many. [Read more…]
The Fed’s Announcement Yesterday and how it impacts Credit Cards
December 16, 2021 by Leave a Comment
Yesterday the Fed (FOMC) wrapped up their two day meeting deciding to leave the Fed Funds rate unchanged. How does this impact you?
2022 Conforming Loan Limits?
October 20, 2021 by Leave a Comment
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…]
2020 FHA Loan Limits for homes in Washington State
December 3, 2019 by 2 Comments
Here is a complete list of FHA loan limits for all counties in Washington for 2020. The new loan limits go into effect on FHA case numbers issued January 1, 2020 and after. [Read more…]
Breaking News: 2020 Loan Limits Announced from HUD
December 3, 2019 by Leave a Comment
HUD has released the FHA loan limits for 2020.
Seattle – King County, Tacoma – Pierce County and Everett – Snohomish County all have higher loan limits at $741,750 for a single family home. Homes located in King, Snohomish and Pierce Counties qualify for a higher loan amount as the counties are considered “high cost”.
FHA mortgage loans are not limited to first time home buyers and do not have income limits. Loan limits do vary by the county the home is located in. Here is a complete list of 2020 FHA loan limits for in Washington State.
If you’re interested in buying or refinancing a home located anywhere in Washington state, I’m happy to help!
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