Breaking News: 2020 Loan Limits Announced from HUD

December 3, 2019 by Leave a Comment

HUD has released the FHA loan limits for 2020.

Seattle – King County, Tacoma – Pierce County and Everett – Snohomish County all have higher loan limits at $741,750 for a single family home.  Homes located in King, Snohomish and Pierce Counties qualify for a higher loan amount as the counties are considered “high cost”. 

FHA mortgage loans are not limited to first time home buyers and do not have income limits. Loan limits do vary by the county the home is located in. Here is a complete list of 2020 FHA loan limits for in Washington State.

If you’re interested in buying or refinancing a home located anywhere in Washington state, I’m happy to help!

 

 

Filed Under: FHA, Uncategorized Tagged With: , ,

Conforming Loan Limits for 2020 for Washington State

November 26, 2019 by Leave a Comment

Conforming loan limits are increasing for 2020 to $510,400 for a single family dwelling. Counties that are considered “high cost” such as King County, Pierce County and Snohomish County qualify to have a “high balance conforming” loan limit of $741,750. [Read more…]

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

New Mortgage Programs!

November 7, 2019 by Leave a Comment

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Filed Under: Bankruptcy, Buying after a short sale or foreclosure, Condos, First Time Home Buyer, Investment Property, Jumbo/Non-Conforming, Refinance, Residential Purchase, Retirement

Special Mortgage Interest Rates

October 19, 2019 by Leave a Comment

Last night on Facebook, I saw an ad for a builder’s lender promoting “limited time opportunity special interest rate” when you purchase one of their new homes. This was being shared by a Realtor whom I’m “Facebook Friends” with. I decided to price out this “special rate” and proved that the rate, while very low, is actually not so special.

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Filed Under: Interest Rates, New Construction, Real Estate Agents, Residential Purchase Tagged With: , ,

Boost Your Credit Score or Boost Your Spam?

October 17, 2019 by Leave a Comment

Experian, one of the big 3 credit bureaus, has been actively promoting that consumers can “boost” their credit score using their services. Since I help people with their credit and mortgage needs for my profession, this naturally got my attention.

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Filed Under: Credit Scores and Reporting, Opinion, Rant Tagged With: ,

Mortgage Interest Rates at Historic Lows

September 5, 2019 by Leave a Comment

Freddie Mac released their weekly mortgage interest rate survey showing that mortgage rates have continued to trend lower.

Tomorrow we have the Jobs Report being released which tends to impact the direction of mortgage rates as it’s an indicator of inflation. Inflation is the “arch enemy” to bonds, like mortgage backed securites, and therefore tends to drive mortgage rates higher. Stay tuned!

Freddie’s PMMS is based on an average of mortgage rates from last week‘s applications for purchases with 20 percent down with excellent credit. Being the rates shared in this report are from last week, they are technically “expired” as mortgage rates change constantly – sometimes several times a day…especially in volatile markets. The PMMS is a great tool for seeing trends and where mortgage rates have been. It’s not a good tool for where rates are “right now”.

If you would like to know where mortgage rates are right now based on your personal scenario for a refi or purchase for homes located anywhere in Washington state, I’m happy to help you!

Filed Under: Interest Rates Tagged With: ,

My Seattle Kitchen Remodel: Flooring

July 27, 2019 by Leave a Comment

Probably one of the toughest decisions we had to make, next to the counter-tops, was what to do with our flooring. We had a wood floor with a beautiful painted surface. Unfortunately, it was a real challenge to keep it clean and the paint was wearing off. Plus the lighter blond finish didn’t really go with our cabinets.

[Read more…]
Filed Under: cash out refi, FHA 203k, HomeStyle, Uncategorized Tagged With: , ,

Major recording issues in King County

July 19, 2019 by Leave a Comment

If you are closing on a refinance or home purchase in King County, you need to be aware of an issue going on with the recorders office. It’s my understanding that on Tuesday, title companies received this message:

“Hello Everyone,

I wanted to update you and keep you aware of a technical issue we are experiencing in the King County Recorder’s Office. We are having substantial problems with our recording system which is causing slow downs and interruptions to service in all aspects of the recording process. Our software vendor and our IT department are working together to resolve this issue as quickly as possible. While the problem persists we may not be able to meet our commitment to providing same day service even for those packages received before cutoff. We will work hard to ensure that all items are recorded either after hours or first thing the next day.

My apologies for the inconvenience on this. I know that this is a busy time for everyone and we are doing all we can to resolve it quickly.

Today, I’m told that King County’s recorders office closed at 5pm stranding hundreds of transactions from recording.”

If your transaction, refinance or purchase, does not “record” then it’s not of public record. Hopefully people can be flexible and nobody is seriously financially damaged by what’s going on with King County.

Hat tip to Lorie Cantu Wiest of Fidelity National Title Insurance Company.

 

Filed Under: Escrow and closing, Uncategorized Tagged With: ,
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