Happy Birthday, Son!

September 4, 2013 by Leave a Comment

scanToday is my son’s birthday. Although to me, it seems like just  yesterday he was toddling around in his Barney slippers, he is now entering his third year of college. I simply could not be more proud of him.

The one piece of advice that I would offer anyone with children is to start saving for your child’s education NOW if having your son or daughter attend college is important to you. I’m thankful that I’m able to help my son out with his tuition. He does have student loans…however I’m at least able to help contribute. I set up an auto-payment into a 529 account years ago and before that, bought savings bonds.  I didn’t miss what was taken from my checking account. Of course it did take a hit in recent years – but I’m still so glad I’ve been able to save some money for him.

[Read more…]

Filed Under: Financial Planning Tagged With: , ,

What May Impact Mortgage Interest Rates this Week: September 2, 2013

September 3, 2013 by Leave a Comment

MortgagePorter-JobsReportIt’s not only economic indicators that may impact the direction of mortgage rates, world events, such as what’s going on in Syria, may also cause rates to go down or up. This is because mortgage interest rates are based on mortgage backed securities (bonds) and when their is uncertainty in the world, investors may seek the safety of bonds, which tends to cause mortgage rates to improve. Remember, as the stock market improves, investors will trade the safety of bonds (like mortgage backed securities) for the potentially quicker returns found in stocks.

[Read more…]

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

Getting preapproved in today’s market [Video]

September 1, 2013 by 1 Comment

This week, Jim Reppond of Coldwell Banker Danforth and I sat down to discuss getting preapproved for a mortgage and why it’s so important for today’s hot Seattle’s real estate market.

[Read more…]

Filed Under: Residential Purchase, Uncategorized, Video Tagged With: ,

Seattle Home Buyer Education Seminar on September 28, 2013

August 31, 2013 by Leave a Comment

iStock_000020110629XSmallI will be teaching a home buyer education class on Saturday, September 28, 2013 at the Columbia City Library located at 4721 Rainier Avenue South in Seattle. My co-instructor is non-other than Ira Sacharoff, Real Estate Agent with Better Properties Real Estate. Class begins at 11:45 am and ends around 4:45 pm.

We will be serving lunch. Please bring a snack if you have dietary concerns as we will not have a lunch break.  Sign up for this class by clicking here. 

[Read more…]

Filed Under: Down Payment Assistance, Education, Residential Purchase Tagged With: , ,

Freddie Mac Home Possible® Mortgage in Washington State

August 30, 2013 by 17 Comments

Freddie Mac HomePossible Mortgage WA StateFreddie Mac Home Possible® Mortgage in Washington State

The Home Possible® mortgage is a low-down-payment conventional loan program designed to help buyers achieve homeownership with more flexibility and lower upfront costs.

Backed by Freddie Mac, Home Possible allows qualified homebuyers in Washington State to purchase a primary residence with as little as 3% down, while offering reduced mortgage insurance and competitive interest rates.

This program is especially popular with first-time homebuyers in higher-cost areas like Seattle, King County, Pierce County, and Snohomish County, where saving for a large down payment can be challenging.

Update: This article reflects current Home Possible mortgage guidelines for 2026. Program details, income limits, and loan limits are subject to change and should always be verified.

[Read more…]

Filed Under: First Time Home Buyer, Home Possible, Residential Purchase Tagged With: , , ,

What may impact mortgage rates this week: August 26, 2013

August 27, 2013 by Leave a Comment

Mortgage rates are not just influenced by scheduled economic indicators. Sometimes uncertainty in the world, such as what’s going on in Syria, will cause a flight to safety with investors seeking bonds, like mortgage backed securities. This is causing mortgage rates, which are based on mortgage backed securities, to be improved this morning.

Here are a few of the economic indicators scheduled to be released this week:

[Read more…]

Filed Under: Economy, Featured Tagged With: , , ,

Considering refinancing or buying a home? UNPLUG YOUR SHREDDER!

August 23, 2013 by Leave a Comment

2013-06-15_0831_001If you are like me, you probably shred just about any documents that has your personal information on it…it’s just habit or second nature. I often sort through my mail right next to our shredder.  If you are considering buying a home or refinancing your current mortgage, this is a practice you will need to reconsider.

The mortgage process will require that you provide all sorts of documentation.

[Read more…]

Filed Under: The Mortgage Process Tagged With: ,

Fannie Mae to increase minimum down payment in November

August 22, 2013 by 1 Comment

Fannie Mae is scheduled to update their automated underwriting system (aus) Desktop Underwriter (DU) to DU Version 9.1 on November 16, 2013.  In their release notes from August 20, 2013, Fannie Mae reveals that for they will increase the minimum down payment from 3% to 5% for Fannie Mae conventional loans.

[Read more…]

Filed Under: Fannie, Freddie and FHFA, Residential Purchase, Underwriting and Qualifying Tagged With: , , , , , ,
« Previous Page
Next Page »