How do Inquiries on my Credit Report impact my Mortgage Approval?

February 21, 2014 by Leave a Comment

InquiriesWhen you apply for credit, it may appear as an inquiry on your credit report even if you decide not to proceed with the credit or debt you applied for. The credit reports that mortgage companies use will show the inquiries going back 120 days.

Why does a lender care if you have credit inquiries – even if you never proceeded to take the credit that was offered to you? Inquires to your credit appears as though you are shopping for credit and therefore may be taking on additional debt. Additional debts may impact your ability to make payments on your new mortgage.

[Read more…]

Filed Under: Uncategorized

National Pet Day

February 20, 2014 by 2 Comments

WARNING: this post has NOTHING to do with mortgages… unless you’re considering buying a new home with a large fenced yard for your puppy. 🙂

Today is National Pet Day so I thought I’d take a moment to share a couple photos of our family’s four legged furry kids, Rocko and Hitch. If we’re friends on Facebook, you’re probably already quite familiar with them.

[Read more…]

Filed Under: Just for Fun

What May Impact Mortgage Rates this week: February 17, 2014

February 18, 2014 by Leave a Comment

mortgageporter-economyI hope you have a nice Presidents Day Weekend. Our office was closed yesterday in observance of this holiday and I spent most of the weekend trying to get over a nasty cold. Let’s review what may impact mortgage rates for the remainder of this week. Here are some of the economic indicators scheduled to be released this short work week:

[Read more…]

Filed Under: Economy

Fannie Mae HomePath offering 3.5% towards closing costs!

February 14, 2014 by 1 Comment

mortgageporterraiseFannie Mae HomePath has announced they will offer up to 3.5% towards the buyers closing cost through March 31, 2014. Fannie Mae HomePath properties are homes that Fannie Mae owns through foreclosure. Fannie Mae offers special financing on these homes with reduced down payment, no mortgage insurance and no appraisal required. You can learn more about the Fannie Mae HomePath Mortgage by clicking here.

[Read more…]

Filed Under: Homepath, Residential Purchase, Uncategorized Tagged With: , ,

Reader Question regarding Down Payments for Second Homes

February 13, 2014 by Leave a Comment

mortgageporter-thinkingI received this comment from one of my readers on a post about occupancy and I thought it would make a good post all on it’s own.

What is the normal down payment on a second home? Our credit is in the “good” range and our debt to income is very good.

[Read more…]

Filed Under: Interest Rates, Vacation and Second Homes Tagged With: , , , ,

What May Impact Mortgage Rates this Week: February 10, 2014

February 10, 2014 by Leave a Comment

mortgageporter-economyMortgage rates are still at historically low levels. Mortgage rates are based on mortgage backed securities (bonds) and move much like the stock market does. In fact, rates often move in opposite direction of stocks as they are based on bonds and investors will seek the safety of bonds when the stock market is tanking… the reverse is also true.

[Read more…]

Filed Under: Economy

First Seattle Snow of 2014

February 9, 2014 by Leave a Comment

Last night we went to bed thinking we would just have a dusting of snow in the morning… we woke up to about 3 inches of the white stuff in the Alki neighborhood in West Seattle.  I thought I’d share a few photos from our morning walk with  our puppy, Hitch.

20140209_080027 [Read more…]

Filed Under: Seattle, Uncategorized Tagged With:

What May Impact Mortgage Rates this Week: February 3, 2014

February 3, 2014 by Leave a Comment
1522456_717971534888096_812580490_o

Mortgage Master representing the 12th Man!

SEA – HAWKS!!! SEA – HAWKS!!! Yes, I’m still very excited and thrilled over our team’s incredible Super Bowl win. Although trouncing the Denver Bronco’s in the big game won’t impact mortgage interest rates, it certainly influences the mood here in Seattle and for all Seattle Seahawk fans. We did it!!

[Read more…]

Filed Under: Economy Tagged With: , ,
« Previous Page
Next Page »