In this week’s Mortgage Porter Weekly, we cover the latest inflation data from May, rising unemployment claims, a potential breakthrough in the Iran conflict and what it could mean for mortgage rates, this week’s economic calendar, Fed Chair Warsh’s first rate announcement, and the morning MBS update. We also spotlight using a cash-out refinance for debt management — and share a quick favor to ask of you.
The Mortgage Porter Weekly | Iran Deal & Rates, Fed Chair Warsh & Cash-Out Refi
June 15, 2026 by Leave a Comment
Cash-Out Refinance to Pay Off Debt: FHA vs. Conventional in Washington State
June 13, 2026 by Leave a Comment
A Common Scenario I See
A Washington homeowner comes to me carrying a significant amount of high-interest credit card debt. Their credit score is below 600. On paper, it doesn’t look promising. With credit card interest rates averaging over 20% APR — and often higher for borrowers with lower credit scores — it’s easy to see how balances grow faster than payments can keep up. Minimum payments barely cover the interest, let alone reduce the principal. But they have something working in their favor: substantial equity built up in their home over time. [Read more…]
Home Improvement and Construction Loans
February 29, 2024 by 1 Comment
There are many options available for financing home improvements not to mention using cash or available funds.
What type of program is used may depend on the scope and amount of funds needed for the project. We can help you with everything from a home equity line of credit where you can do the work yourself or a full construction loan if you’re working with a vacant lot or a complete tear-down property. Larger projects may require a general contractor and/or to have the contractor approved by the lender.
Loans that do not require a general contractor are our home equity line of credit, stand-alone second mortgage or a cash-out refi. With the home equity loan of credit or second mortgage, you could keep your existing first mortgage (if there is one).
Here are some possible programs to consider: [Read more…]
Your Mortgage and Home Equity should be part of your Financial Planning
January 9, 2024 by 2 Comments
A recent MarketWatch article featured a reader question that probably sounds familiar to a lot of people approaching retirement. Here’s the situation as the reader described it:
“I’m 57, single, have $300,000 in a 401(k) and about $12,000 in savings in different accounts. I owe $93,000 on a house and have $20,000 in credit card debt. I make about $100,000 per year. Should I consolidate my savings? Should I pay off my credit card with the savings and then rebuild my account? I am working on paying off the credit card but I have terrible spending habits. I really don’t want to work until I’m 67. What advice do you have? Should I hire a financial planner to help me?”
— MarketWatch reader question
Divorce and Your Mortgage: What Washington Homeowners Need to Know
January 14, 2022 by Leave a Comment
Going through a divorce or dissolution of a domestic partnership is one of the most stressful experiences a person can face. In the middle of everything else — attorneys, finances, emotions — your mortgage may feel like a detail you’ll deal with later. But how you handle the mortgage during and after a divorce can have lasting consequences for your credit, your finances, and your ability to buy a new home.
Here’s what Washington homeowners need to know. [Read more…]
