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…]
I have been working with a couple of clients who are buying homes and who’ve recently asked if it’s okay for them to buy furniture before closing on their new home. It must be all the holiday sales going on that’s causing this question to come up recently.
Saving for a down payment is one of the biggest hurdles for Washington State homebuyers — especially in 
One of the most stressful calls I get from buyers in the middle of a transaction goes something like this: their loan officer has just told them their credit score dropped — and now their approval, their rate, or their private mortgage insurance eligibility is in question. Closings have been delayed, and in some cases derailed, because of a score change that the buyer didn’t see coming.
