Comparing Low Down Payment Mortgage Programs

EDITORS NOTE: This post was written in 2014 and some of these programs are either no longer available or the guidelines have changed. Please visit our First Time Homebuyer Guide and Washington State Down Payment Assistance Programs for current information.

Home buyers have so many options today for selecting a mortgage today. We have several mortgage programs designed to help people buy a home who want to use less down payment. Many of these programs do not require the borrower to be a first time home buyer. Home buyers should compare all possible options before making a decision on what program is best suited for their personal financial scenario.

[Read more…]

What May Impact Mortgage Rates this Week: April 21, 2014

mortgageporter-economyThis week’s economic calendar appears to be a little on the light side. There are no economic indicators due today. Here are the economic indicators scheduled to be released this week:

[Read more…]

House Key Washington State Bond financing to return

Washington State Bond House KeyIt’s anticipated that funds will become available for the House Key program in a couple weeks. House Key is the Washington state bond program that offers below market rates to borrowers that meet certain criteria, including income limits. Income limits vary by county and family size.

[Read more…]

What May Impact Mortgage Rates this Week: April 14, 2014

mortgageporter-economyMy apologies for the late posting… we decided to have a long weekend and so I took Monday off. Here are some of the economic indicators scheduled to be released this week which may impact the direction of mortgage interest rates:

[Read more…]

What is a Mortgage Credit Certificate or MCC?

Mortgage Credit Certificate (or also referred to as MCC) is a federal tax credit available to first time home buyers who meet certain requirements. With the tax credit, eligible home buyers can adjust their their withholding to take advantage of the savings monthly instead of waiting until they file their taxes.  The MCC remains available as long as the borrower owns and occupies the property.

[Read more…]