Buying your first home is such an exciting and important time of your life. It’s a big step in creating financial freedom for your future. First homes are often referred to as a “starter home” as people tend to live in the home for a shorter period of time and use the equity they gain from appreciation and paying down the mortgage towards buying their next home. [Read more…]
Options for Buying a Starter Home
January 22, 2025 by Leave a Comment
2025 FHA Loan Limits for Washington State
November 26, 2024 by Leave a Comment
HUD has announced the 2025 loan limits for FHA mortgage loans.
King, Pierce and Snohomish Counties, the loan limits are:
- 1 Unit: $1,037,300
- 2 Unit: $1,327,950
- 3 Unit: $1,605,200
- 4 Unit: $1,994,850
BREAKING NEWS: HUD Reduces FHA Mortgage Insurance
February 22, 2023 by Leave a Comment
FINALLY!!! HUD just announced that the mortgage insurance on FHA mortgages will be reduced by 30 basis points on most mortgage loans.
FHA mortgages typically have two forms of mortgage insurance. Borrowers pay for both an upfront premium, which is often added to the loan amount and financed over the life of the loan and an annual premium, which is paid monthly. The mortgage insurance which has been reduced is the annual mortgage insurance. [Read more…]
2023 FHA Loan Limits for homes in Washington State
December 1, 2022 by Leave a Comment
HUD has just announced the 2023 loan limits for FHA mortgages. FHA loan limits vary by the county the home is located in. In Washington state, every county except for San Juan County, has higher loan limits.
Here are the 2023 FHA loan limits for homes located in Washington state: [Read more…]
BREAKING NEWS: 2022 FHA Loan Limits
November 30, 2021 by Leave a Comment
HUD has announced loan limits for FHA mortgages for 2022. Just like conforming loan limits that I announced just a few hours ago, loan limits are higher for 2022 except for San Juan County, which has the same loan limits as 2021. King, Pierce and Snohomish Counties have a loan limit of $891,250 for 1-unit properties.
FHA has more various loan limits by county than conforming. Here is a complete list for counties in Washington state. [Read more…]
How Does Dave Ramsey’s Advice on Mortgages Pencil Out?
October 14, 2021 by Leave a Comment
Last month I wrote about advice I’ve been seeing popping up in my Facebook feed from Dave Ramsey on mortgages. There are several points that I just don’t find realistic for the average person who wants to buy a home, such as only using a 15 year amortized mortgage with 20% down payment and limiting your mortgage payment to 25% of your take home pay. I promised that I would share a follow up post where I review different scenarios comparing his advise to real life scenarios. [Read more…]
2021 FHA Loan Limits for Washington State
December 3, 2020 by Leave a Comment
FHA mortgages allow for minimum down payment and do not have income limits. FHA tends to have a little more flexible underwriting than conventional mortgages.
Here is a complete list of the 2021 FHA loan limits for homes located in Washington state: [Read more…]
Breaking News: 2021 FHA Loan Limits for King, Snohomish and Pierce Counties
December 2, 2020 by Leave a Comment
HUD has announced 2021 loan limits for FHA mortgages. Like conforming mortgages, the loan limits will increase in 2021. Here are the limits for homes located in King, Pierce and Snohomish Counties.
- 1 Unit: $776,250
- 2 Unit: $993,750
- 3 Unit: $1,201,200
- 4 Unit: $1,492,800
Click here for a complete list of 2021 FHA loan limits for homes located in Washington state.
If you are considering buying or refinancing your Washington state home, I’m happy to help you!
Recent Comments