Washington State Mortgages, Made Clear. Buying or Refinancing? Let's find the right loan together.
NOTE: This post has been updated for 2026.
Borrowers getting ready to buy their first home are often surprised…for different reasons. I find that some are surprised to learn that they do qualify for a home in their price range and some are disappointed to learn that they have a little work to do before they can buy a home.
Getting preapproved with a mortgage professional helps to take some of the “surprise” out of the process.
When someone becomes “preapproved” for a mortgage, it boils down to they qualify for a certain mortgage payment based on their income and debts (DTI aka debt to income ratio). A home buyer qualifies for the loan amount of the new mortgage and their funds available for down payment and closing cost determine the sales price.
How Much Can a Seller Pay Toward a Buyer’s Closing Costs? (Updated for 2026)One of the most common questions I’m asked by homebuyers — especially first-time buyers — is:
“Can the seller help pay my closing costs?”
The short answer is yes — but how much depends on the type of loan and the terms of the purchase contract.
Let’s break this down clearly. [Read more…]
In Part 1 of this series, I reveal that home buyers qualify for the mortgage payment first based on their income. The next major factor is the down payment and funds for closing. Some may say that the down payment more important than the mortgage payment, however the down payment actually can be a variable; one may be able to obtain gift funds to increase a down payment. You cannot change your income unless you add more qualified borrowers.
Condos come in many forms including high-rises, converted apartment buildings and even some town-homes may be condominiums depending on how they are legally described. If you’re planning on buying a condo and not paying cash for your purchase, here are a few things to look out for where lenders may have an issue with.
