2024 FHA Loan Limits for Homes in Washington State

HUD has just announced the 2024 loan limits for FHA mortgages. FHA loan limits vary by the county the home is located in. In Washington state, some counties have higher limits than 2023 and other counties have the same loan limits from 2023.

Here are the 2024 FHA loan limits for homes located in Washington state: [Read more…]

2024 Conforming Loan Limits for Homes in Washington State

Conforming loan limits will be going up in 2024 across the country. Conforming high balance loan amounts for Washington state will remain unchanged from 2023.

Here are the 2024 conforming loan limits:

  • 1 Unit: $766,550
  • 2 Unit: $981,500
  • 3 Unit: $1,186,350
  • 4 Unit: $1,474,400

The following counties have “high balance” loan limits

King County, Pierce County and Snohomish County: [Read more…]

What is the difference between a Bridge Loan and a Cash Buyer Program

Bridge loans allow people who want to buy their next home to access a portion of their home equity to use as down payment and/or closing cost. They have been around for quite a while and has been a great tool to help accommodate home purchases. When I was at Mortgage Master, we offered bridge loans to qualified borrowers. [Read more…]

Does Zillow’s Gloomy Article on Buying Now Pencil Out?

Zillow’s recent gloomy attention grabbing headline stating “If you buy now, it can take 13.5 years to make a profit on your home sale” has been creating quite a buzz with various media outlets. I thought I’d run some scenarios to compare. [Read more…]

True Horror Story: Trapped by the 3% Mortgage Rate

If you’re a homeowner wanting to buy your next home, you might be feeling reluctance to trade your existing interest rate for a current mortgage rate. It’s easy to understand when mortgage rates are double from what they were a few years ago. Historically speaking, mortgage rates are actually closer to what would be considered more of an average range than the Fed manipulated rates of years past.

I may have some good news for you. No, it’s not a trick…this can actually be a treat! [Read more…]

I’m back from vacation!

Late Thursday night, I returned home from a three week vacation in Italy visiting my son and daughter-in-law, who are currently living in Europe. This is the longest vacation away from my wonderful hubby and work that I have ever done. My fantastic sister-in-law Marilyn joined me on this adventure to celebrate her retirement from Mortgage Master Service Corporation. [Read more…]

It’s Fed Day! [Live Post] No Change to the Fed Funds Rate!

Good morning! It’s just before 7:00 am PST as I’m writing this post. In a couple of hours, we’ll hear the announcement from the FOMC wrapping up their two day meeting on measures they will take to get inflation in line, which includes adjustments to the Fed Funds rate. The Fed Funds rate does not directly impact mortgage interest rates (except for HELOCs attached to the Prime rate), however the action the Fed takes does influence the direction of mortgage interest rates. Mortgage interest rates are based on bonds (mortgage-backed securities or MBS) and react similarly to stocks. Inflation is the “arch enemy” of bonds, which is a big part of why mortgage rates have been higher these past few years. Should the Fed indicate that inflation is taming and investors believe what the Fed is saying, we should see mortgage rates improve…and of course, the opposite is true. [Read more…]

A Modern Mortgage: The All In One Loan


You’ve probably figured out by now that I’m a pretty big fan of the All In One Loan. I encourage you check out the simulator so that you can see how differently this mortgage works. The simulator shows a side by side comparison of a traditional 30 year mortgage to the All In One Loan that I think you’ll find interesting. [Read more…]