How to Leverage your Lender when Making an Offer [Video] #SeattleREchat

September 21, 2013 by Leave a Comment

In our most recent Seattle Real Estate Chat, Jim Reppond and I discuss how to leverage our lender when making an offer.

Tune in for our next Seattle Real Estate Chat on Tuesday, 10:00 am Seattle time where we talk about lenders or agents who wear two hats – such as agents who represent both the buyer and seller (dual agency) or an agent who’s also the loan originator.

Seattle Real Estate Chat is a weekly show that Jim Reppond and I host on a Google/YouTube – join us!  We are also on Twitter @SeattleREchat or search #SeattleREchat.

 

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NAR fighting to keep current boundaries for USDA Zero Down Loans

September 20, 2013 by Leave a Comment

There’s just 10 days remaining before the boundaries determining eligible properties for USDA financing are set to change unless Congress takes action. I shared with you USDA had posted the “future” boundaries on their website back in April. 

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Filed Under: USDA Tagged With: , ,

Fed to Keep Mortgage Rates Sweet and Low

September 18, 2013 by 1 Comment

iStock-000020911287XSmallThe Fed made no changes to the Fed Funds rate… no surprise there. However, the Fed did surprise the markets today announcing they are not tapering their purchasing of mortgage backed securities. From today’s press release:

“…Taking into account the extent of federal fiscal retrenchment, the Committee sees the improvement in economic activity and labor market conditions since it began its asset purchase program a year ago as consistent with growing underlying strength in the broader economy. However, the Committee decided to await more evidence that progress will be sustained before adjusting the pace of its purchases.  [Read more…]

Filed Under: The Fed - FOMC Tagged With: , , ,

Question about Home Advantage Down Payment Assistance (DPA)

September 17, 2013 by Leave a Comment

mortgageporter-thinkingYesterday I received an email with this question that I thought would be helpful to my readers considering the popular Home Advantage Mortgage program with down payment assistance:

I’ve been studying the different loan programs in WA State and came across your website. We’re considering taking out a Home Advantage mortgage but need clarification on one of the restrictions.

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Filed Under: Down Payment Assistance, First Time Home Buyer, Home Advantage Program, Residential Purchase, WSHFC Tagged With: , ,

What May Impact Mortgage Rates this Week: September 16, 2013

September 16, 2013 by Leave a Comment

2012-08-20-0845Mortgage backed securities are improving this morning on the news that Larry Summers has withdrawn as a candidate for the next Fed Chairman. This leaves current Fed Vice Chairman Janet Yellan as a strong candidate to replace Ben Bernanke. Bond markets are reacting positively to the news that Janet is once again a front runner as the next Fed head. Speaking of the Fed – watch for the results of the FOMC meeting on this Wednesday.

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Filed Under: Economy, Interest Rates Tagged With: , , ,

Do’s and Do Not’s of the Mortgage Process [Video]

September 15, 2013 by 1 Comment

In our last Seattle Real Estate Chat, Jim Reppond and I discuss what home buyers need to while in the mortgage process or considering buying a home.

Tune if for our next Seattle Real Estate Chat via our live Google Hangout on Tuesday, September 17, 2013 at 10:00 am Seattle time.
You can follow Seattle Real Estate Chat on Twitter at @SeattleREchat or #SeattleREchat

Filed Under: Real Estate, Residential Purchase, Seattle Real Estate Chat, The Mortgage Process, Uncategorized, Video Tagged With: , , ,

Conforming Loan Limits may go DOWN in 2014

September 12, 2013 by Leave a Comment

iStock_000015167058XSmallThere’s been a lot of recent chatter about the possibility of conforming loan limits being reduced in 2014 that home buyers in the greater Seattle area and home owners should be aware of.

Reuters reports that Denise Dunckel, a spokes person for the FHFA recently stated “a gradual reduction in loan limits is an appropriate and effective approach to reducing taxpayer’s mortgage risk exposure”.

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Filed Under: Fannie, Freddie and FHFA Tagged With: , , ,

FHA “Back to Work” is available at Mortgage Master Service Corporation

September 9, 2013 by 31 Comments

I’m pleased to inform you that I just received a memo from our management stating that we are accepting HUD”s guidelines for the “Back to Work” program.

HUD’s “Back to Work” guidelines allow people who had a foreclosure, short sale or deed in lieu of foreclosure because of a significant loss of income and/or employment during the recession, to buy a home again quicker than the standard wait period of three years (for FHA).

[Read more…]

Filed Under: Buying after a short sale or foreclosure, FHA Tagged With: , , , ,
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