What I’ve Learned About Pugs

May 16, 2009 by 1 Comment

I have a 13 year old Pug, Orson.  Last month it seemed his hind legs were bothering Orshim so I took him to the Vet who thought it was most likely old age and arthritis.  He recommended giving him treats with glucosamine to see if that worked.   A couple weeks later, his front legs began to give him trouble as well and he began walking with a sway (almost as if he was a little drunk).  Orson and I went back to the local Vet and this time the prognosis was not good: possible brain tumor.  They referred us to Dr. Sean Saunders of Seattle Veterinary Specialist in Kirkland who specializes in neurology.  An MRI revealed that Orson does not have a brain tumor; he has Hansen's Type II invertebral disk disease–as bad as this sounds, I'm relieved since this is probably can be managed with doggy drugs. 

What's the probable cause (or at least an aggregator)?

  • Stairs.  His compact body is jarred going up and down stairs. 
  • Being walked with a traditional collar.  Orson now sports a nice harness for his walks.
  • Jumping can also cause injury to the disks in their spine.  Orson's not a jumper.

So this weekend, we're cleaning out our home office area.  Orson's "movin' on up" from the basement to a kennel in the office.  No more stairs for this fellow and I'm happy to share my home office with him. 

Filed Under: Misc.

USDA Loans offer 100% Financing

May 14, 2009 by 2 Comments

EDITORS NOTE:  Please check out this updated post (May 2011) on USDA financing for homes located in Washington State.  Income limits and the guarantee fee have since changed since publishing this post.

USDA Rural Development loans offer financing of single family dwellings in rural areas to people who meet certain income limits.  In King County, the current four-person household adjusted limit is $88,400 maximum income.  

This program provides up to 100% financing with flexible underwriting guidelines. There is no mortgage insurance however, similar to a VA loan, there is an upfront fee of 2% of the loan amount (guarantee fee) that can be financed into the new mortgage.   Mortgage rates are attractive considering the higher loan to value, no credit score price hits and no monthly mortgage insurance–I've added rates for USDA loans to my rate post that I do on Friday's here at Mortgage Porter.

To see if you and a potential property are eligible, click here.

If you're interested in a USDA loan on property located in Washington State, please contact me.  Mortgage Master is an approved lender.

Filed Under: USDA

Mortgage Master now has Streamlined FHA 203(k) Loans!

May 13, 2009 by 1 Comment

May 2010 UPDATE:  Mortgage Master Service Corporation will no longer do "streamlined" refinances–however we WILL do full 203k rehab mortgages.

Streamlined FHA 203(k) mortgages are intended for "lighter" repairs or improvements to a home.  The rehab amount is limited to a maximum of $35,000 and the minimum repair cost is $5,000.   Here is an example of eligible improvements:

  • Repair or replacement of roofs, gutters and downspouts.
  • Repair or replacement of existing heating, ventilation and/or air conditioning system.
  • Repair or replacement of plumbing and electrical systems.
  • Repair or replacement of flooring.
  • Minor remodeling that does not involve structural repairs.
  • Exterior and interior painting.
  • Weatherization, including storm windows and doors, insulation, weather stripping, etc.
  • Purchase and installation of appliances.
  • Improvements for people with disabilities.
  • Lead-based paint stabilization.
  • Repair, replacement or addition of exterior decks, patios, porches.
  • Basement finishing and remodeling that does not involve structural repairs.
  • Basement waterproofing.
  • Replacement of windows and doors and exterior wall re-siding.

The loan amounts are based on current FHA loan limits.  In King, Pierce and  Snohomish counties, the current FHA loan limit is $567,500.  This program is available for purchase and refi's.

If you're interested in a FHA Streamlined 203(k) mortgage for your home located in Washington State, please contact me.

Filed Under: FHA

Happy Mother’s Day

May 10, 2009 by Leave a Comment

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This photo could have been very close to my Mom's first Mother's Day.

Filed Under: People

Relocating to Washington State and Getting Preapproved for a Mortgage

May 5, 2009 by 1 Comment

When relocating to a new State, many want to have their next home purchased to avoid the inconvenience of having to move twice from temporary housing to their permanent home in Washington.  Lenders want to know that the borrower have employment and the ability to make their mortgage payments.

If you have a job waiting for you at your new location, often times a copy of your employment contract documenting the start date, salary and probability of continued employment.  A verification of employment will be performed either/or verbally or with a VOE (verification of employment) form to be completed by the new employer.  It’s also important to know that the new employment must be in the same line of work as the previous employment.

What if you’re self employed and moving your business out of area?  Unless your clients are able to follow you, such as an internet based business, it may be challenging to use your past income for qualifying as you are leaving your client base behind.

There various types of income may not impacted by relocating (subject to underwriting guidelines), such as:

  • Rental income
  • Retirement/Social Security
  • Alimony or Child Support
  • Notes receivable
  • Interest and dividends
  • Income from Trust

Other types of income may be considered as well…but if you’re planning on qualifying based on income from your “future” job–make sure you’re actually on pay-roll and do discuss your personal scenario with a qualified Mortgage Professional before you make any moves.

Filed Under: Residential Purchase, Underwriting and Qualifying Tagged With: ,

Sunday Drive: Southbound on the Alaskan Way Viaduct

May 3, 2009 by 2 Comments

I enjoy driving down the viaduct…northbound is prettier than heading south in my opinion but I love this old structure.  I'm going to miss it when it's gone and I think it's really concerning that our elected officials have no regard for the citizens who voted to keep the viaduct.  Instead, they are blazing ahead with plans for a tunnel.  Why vote when your officials don't honor the voice of their citizens?  Adding insult to injury according to this article, Seattle homeowners may get the bill fo cost over-runs.  Your thoughts?

Just as some have boycotted Safeco Field for similar reasons…I will not drive in the new tunnel when/if it happens.   You can read many article regarding the controversy of the viaduct vs. the tunnel here.

Filed Under: Seattle, Sunday Drive - Neighborhood Tours

Get Your Dirty Car Washed Today in Issaquah and Do a Good Deed

May 2, 2009 by Leave a Comment

Dawn Appel is a former employee of The Talon Group.  She has been couragously battling leukemia.  From 8:00 am – 4:00 pm today in Issaquah, you can get your car washed to help raise funds in her honor and to help support her family.

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If you can't make it to the car wash but would still like to donate click here.

Filed Under: Charity, People

Geithner one of People Magazine’s 100 Most Beautiful?

May 1, 2009 by Leave a Comment

Nope…we're past April 1st…this is no joke and I'm sorry BUT I do not find anythingGeithner about this man "beautiful".   During an interview yesterday on CNBC, a representative from People Magazine said that some people are beautiful "on the inside". With that, I agree. 

I admit that I do not personally know our Treasury Secretary, Mr. Geithner.  Maybe he is a beautiful person….who only paid past due income taxes because of his new political position.   

I typically only read People Magazine when I'm in a doctors office.

UPDATE:  This explains everything!

Filed Under: People, Rant
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