Helping Washington State homeowners learn more about their mortgage options.
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…]
Welcome to this week’s edition of The Mortgage Porter Weekly, where I break down what’s happening in the mortgage and housing markets and what it means for homebuyers, homeowners, and real estate professionals.
VA Loan Limits for 2026 for Washington StateVA Loans technically don’t have a “loan limit” the same way that a conforming or FHA loan does. Veterans, who have earned the benefit of having a VA loan are eligible for a zero or low-down payment mortgage. The calculation is based on 2026 conforming-loan limits and the veteran’s entitlement status. [Read more…]
Today, much deserved gratitude will be shared to our Veterans. We honor their courage, sacrifice and service that allow us to have our freedom.
As a mortgage professional, I am thrilled when I have received a purchase and sales agreement where the seller has agreed to allow the Veteran to use their VA loan.
A VA Loan is a benefit that the Veteran has earned. There are no loan limits and offers low to no down payment. [Read more…]
Where are mortgage rates following the stronger than expected Jobs Report last Friday? Check out my latest video to learn more about mortgage interest rates and I have a spotlight on VA Loans.
The funding fee for VA mortgages for 2023 have been announced. Great news – the fees for 2023 have been reduced from 2022!
The VA Funding Fee is a one-time charge often added to the loan amount and financed over the term of the mortgage. VA mortgages do not have monthly mortgage insurance premiums (unlike FHA mortgages).
Here are the VA Funding Fees for 2023: [Read more…]
Many Veterans who have served our country have earned the right to have a VA mortgage loan. It’s unfortunate that some sellers as well as real estate agents have a bad image of VA loans and often discourage them. Many years ago, VA loans were sometimes more challenging than conventional financing – this is rarely the case anymore. Some people may falsely assume that if a Veteran is using a VA loan, they must have poor credit or not enough funds for a down payment. A majority of the Veteran’s I have provided mortgages for have excellent credit and plenty of funds for down payment, they opt for the VA loan because they either don’t want to use all of their funds for down payment, or the VA mortgage loan could be providing a lower interest rate than what they would receive with conventional financing. Bottom line, it’s their entitlement that they sacrificed and worked hard to earn. [Read more…]
Veterans who have their full entitlement, do not have a loan limit. Mortgage Master Service Corporation works with investors who will lend up to $2,000,000 for VA loans with no down payment required.
If a Veteran has remaining entitlement (not full entitlement) the the loan amounts are based on conforming loan limits in the county the home is located in. Here are the conforming loan limits for single family dwellings for 2021: [Read more…]
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…
Recent Comments