How to prepare for buying a Home this Spring

If you have been thinking about buying a home this spring, you’re not alone. Experts predict there is quite a bit of pent-up demand following the recent sellers’ market and higher interest rates. Many homebuyers have been waiting patiently for a cooler market with lower interest rates…the key word here is MANY. It’s not anticipated that we will see a flood of new listings as homeowners who currently have extremely low mortgage interest rates seem to be less likely to want to sell and lose the rate. As people start to list their homes in the new year, and more buyers get off the fence, we could see housing prices push higher or at the very least, stay the same as the demand for homes is still strong. [Read more…]

How to compete with Cash Buyers? Become a Cash Buyer!

If you tried buying a home over the last few years, you probably lost out to buyers who made cash offers. Sellers tend to prefer cash offers because they can close faster and there are less uncertainties when they are not relying on a mortgage approval from a lender they don’t know. Even in a buyers’ market, a seller will most likely prefer a cash offer over one that is dependent on financing or the sale of another property.

We have a solution! You can also enjoy the convenience of an all-cash buyer with New American Funding’s Buyer Accepted program. This works for first time home buyers and for clients who want to buy before they sell their existing property. [Read more…]

How Much Home Can You Buy with $97K Income with a Low Down Payment

The Seattle City Council recently passed a ban on evictions during winter months in Seattle. I’m all for protecting people when the weather is hazardous, however winter in Seattle is often quite mild. I’m actually very concerned about this legislation and how it may impact the rental market. I’m betting we will see more people decide to sell their Seattle investment property and move to other cities that are friendlier to landlords. Especially once you factor that Seattle laws prevent landlords from being able to screen potential tenants (it’s first come/first serve despite criminal history) and that landlords can only collect up to 1 month’s rent (plus 25% of one months rent if they accept pets) which can be paid over six months. Landlords are really in a risky position if the property is under Seattle’s regulations. [Read more…]

There Once was a Renter

I was just reviewing one of my client’s mortgages and thought I’d share a happy story with you. I’m REALLY proud of them. I first met Ryan and Rachel Renton (yes, I made up the names…but the rest of the story is true), at a home buyers class that I was teaching. Home buyers interested in the down payment assistance programs offered by the Washington State Housing Finance Commission are required to take a “live” class or an online class in order to qualify for the down payment assistance (dpa). [Read more…]

Buying a Home Using Your S.O.’s Income

Recently I helped a couple buy a home in King County. They’re engaged, had been living together for many years and were ready to purchase their first home. One of them, Billy Bellevue, had some credit issues and it made more sense for them to only have Susie Seattle’s on the transaction. [Read more…]

A First Time Home Buyer’s Story

I’m so excited for some clients I helped buy their first home a couple of years ago. I thought I’d share their story – at least the Readers Digest version! 🙂

This couple attended a home buyers class that I was teaching back in 2014. They purchased their first home in Seattle in 2014 using a down payment assistance program we offer through the Washington State Housing Finance Commission. [Read more…]

Coming Soon: Freddie Mac’s HomeOne Mortgage Program

Later next month, Freddie Mac will be offering a new program for first time home buyers. This mortgage program offers low down payment options without the income limit or geographic restrictions that Home Possible has.

HomeOne will be available for both purchases and rate-term refinances on single family dwellings. At least one borrower on the application must be a first time home buyer when the transaction is a purchase and home buyer education is required. [Read more…]

eBook: Your First Home Mortgage

I have just updated my guide on how to finance your first home.

If you’re thinking about buying a home located anywhere in Washington state, even if it’s a couple years away, I am happy to help you! You really cannot start the preapproval process too soon. If I can help you, please contact me.