Washington State Mortgages, Made Clear. Buying or Refinancing? Let's find the right loan together.
The other day, while on Facebook, I came across a stat that my friend and real estate educator, Jillayne Schlicke had posted in response which surprised me. Her comment was in response to an article she had shared on Zillow acquiring a mortgage company that has licenses in all 50 states.
If you’ve recently received a notice from your mortgage servicer telling you that your monthly payment is increasing, you’re not alone — and you’re probably wondering why. The most common culprit is an escrow shortage, and in Washington State’s higher-cost markets, these notices have been a regular occurrence as property values and tax assessments have climbed.
Here’s what’s happening and what you can do about it. [Read more…]
UPDATE: Please visit our Bridge Loan Guide for updated information.
I recently helped a couple successfully close on their new home in Seattle before having to close on their former home in Everett. By using a bridge loan to access equity on the Everett home, they were able to make a winning offer on the Seattle home without it having to be “subject to the sale” of their former home. This help to make their offer far more attractive in a very competitive real estate market. [Read more…]
Freddie Mac HomeOne® Mortgage in Washington StateThe HomeOne® mortgage is a low down payment conventional loan program designed specifically for first-time homebuyers who want to purchase a primary residence with as little as 3% down.
Backed by Freddie Mac, HomeOne offers a simpler path to homeownership for buyers who have solid credit but limited savings — without the income limits found in some other low down payment programs.
This mortgage option is especially attractive to buyers in Seattle, King County, Pierce County, Snohomish County, and throughout Washington State, where affordability and long-term costs matter. [Read more…]
When borrowers start researching FHA versus conventional mortgages, they often encounter the same inaccurate information — repeated across real estate websites, agent newsletters, and well-meaning advice from friends. These misconceptions can lead buyers to dismiss loan options that might actually work better for their situation, or to make decisions based on outdated assumptions.
Here are six of the most common misconceptions about FHA and conventional mortgages — and what’s actually true. [Read more…]
