Documenting large deposits on bank statements has been a royal pain in the behind for many borrowers going through the mortgage process. I am very pleased to share with you that Freddie Mac has updated guidelines that lenders, including Mortgage Master, are embracing.
What May Impact Mortgage Rates this Week: July 14, 2014
July 14, 2014 by 1 Comment
Mortgage rates continue to be at low levels and are slightly improved compared to last Monday’s rate post. Here are some of the economic indicators that may influence the direction of mortgage interest rates this week:
Seattle RE Chat – FHA’s HAWK Program [Video]
July 13, 2014 by Leave a Comment
In this episode of Seattle Real Estate Chat, Jim Reppond and I discuss FHA’s HAWK program with special guest, Frances Flynn Thorsen.
Another extension for HARP…so what
July 12, 2014 by Leave a Comment
According to Housing Wire, it looks like HARP (aka the Home Affordable Refinance Program) may once again be extended through 2016. The HARP program was created for home owners who have conventional Fannie Mae or Freddie Mac mortgages and who had lost equity in their homes due to the mortgage meltdown, making it impossible to refinance. With HARP, appraisals are often not required and over the past few years, underwriting guidelines have become more relaxed with this program. So why the “so what”?
What May Impact Mortgage Rates this Week: July 7, 2014
July 7, 2014 by 1 Comment
I hope you and your family had a fabulous holiday weekend. We began our holiday on our boat at Liberty Bay in Poulsbo with a beautiful display of fireworks on July 3rd – it was a lot of fun.
What May Impact Mortgage Rates this Week: June 30, 2014
July 1, 2014 by Leave a Comment
This is a short week with Independence Day on this Friday. Watch for the Jobs Report being released on Thursday, July 3, which could provide some early fireworks depending on if the data comes in less or more than expected.
Here are some of the economic indicators scheduled to be released this week:
Home Buyer Class in South Seattle
June 27, 2014 by Leave a Comment
I will be teaching a Home Buyers Education Class with Ira Sacharoff of Better Properties Real Estate Seattle on Saturday, August 9, 2014 at the Skyway Public Library. This class is sponsored by the Washington State Housing Finance Commission.
Students will learn about the home buying process and will receive a certificate at the end of the class making them eligible for:
Is it time to refi your FHA mortgage?
June 25, 2014 by 3 Comments
With the appreciation homes are seeing in the greater Seattle – King County area, home owners who purchased their home a couple years ago using an FHA mortgage may now be able to refinance into a conventional mortgage. FHA mortgages are often used when a home buyer needs a lower down payment option or if credit scores are lower. FHA jumbo mortgages offer home buyers lower down payment with higher loan amounts than what conforming mortgages will permit. There are many reasons why someone might opt for an FHA mortgage when buying a home.
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