Freddie Mac HomeOne® Mortgage in Washington State

June 21, 2018 by Leave a Comment

Freddie Mac HomeOne Mortgage WA StateFreddie Mac HomeOne® Mortgage in Washington State

The HomeOne® mortgage is a low down payment conventional loan program designed specifically for first-time homebuyers who want to purchase a primary residence with as little as 3% down.

Backed by Freddie Mac, HomeOne offers a simpler path to homeownership for buyers who have solid credit but limited savings — without the income limits found in some other low down payment programs.

This mortgage option is especially attractive to buyers in Seattle, King County, Pierce County, Snohomish County, and throughout Washington State, where affordability and long-term costs matter. [Read more…]

Filed Under: Affordable Home Strategies, First Time Home Buyer, HomeOne, Refinance, Residential Purchase Tagged With: , , ,

eBook: Your First Home Mortgage

January 29, 2018 by Leave a Comment

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.

Filed Under: Books, First Time Home Buyer Tagged With: , ,

Fannie Mae increases income limits for HomeReady

June 29, 2016 by 1 Comment

iStock_000009450603SmallFannie Mae will be increasing the income limits for HomeReady effective July 16, 2016 making it easier for more people to qualify for this mortgage program. [Read more…]

Filed Under: HomeReady Tagged With: , , ,

Fannie Mae offering Home Buyer Incentives

April 24, 2015 by Leave a Comment

mortgageporterraiseFannie Mae is offering first time home buyers up to 3% towards closing cost when they purchase a Fannie Mae HomePath property. On a $300,000 home, 3% would be up to $9,000 towards allowable closing cost!  A Fannie Mae HomePath property is a home that Fannie Mae has foreclosed on and now owns.

[Read more…]

Filed Under: Classes for Home Buyers, Fannie, Freddie and FHFA, First Time Home Buyer, Homepath Tagged With: , , , , ,

Washington State Down Payment Assistance Programs and Grants

June 18, 2014 by 18 Comments

2013-03-07_0746Washington State home buyers have several various down payment assistance programs available and they’re not just limited to first time home buyers.  These funds can go towards closing cost and the down payment of primary residence.

Here’s an updated list of what I have available.

[Read more…]

Filed Under: Down Payment Assistance, Grants, Home Advantage Program, House Key Opportunity, Uncategorized, WSHFC Tagged With: , , , , , , , , ,

The FHA HAWK Program for Homebuyers

June 10, 2014 by 4 Comments

Osprey_muralA few weeks ago, HUD announced a new program created for first time home buyers which rewards them with reduced mortgage insurance premiums after they participate in home buyer education and one-on-one housing counseling. HAWK or Homeowners Armed with Knowledge is a pilot program set be released in two phases on a limited basis.

[Read more…]

Filed Under: FHA, First Time Home Buyer Tagged With: , , ,

More options for Washington home buyers

April 5, 2013 by Leave a Comment

Yesterday I was “in class” at the Washington State Housing Finance Commission learning about programs they have to offer Washington home buyers, including down payment assistance programs.

In order to obtain the down payment assistance, you must use a WSHFC first mortgage product, which includes:

The first mortgages may be FHA, USDA, VA or conventional mortgages with private mortgage insurance.

The down payment assistance (DPA) is in the form of a second mortgage that have specific criteria home buyers must meet to qualify.

  • Home Advantage DPA has an income limit of $97,000 and does not have a “needs assessment”.
  • Commissioned Second Mortgage works with the House Key Opportunity and is available to home buyers with special needs.

Home buyers interested in either program must attend a 5 hour class in order to qualify for these programs. While at class yesterday, I also received training to be a “Commission trained instructor”.

Watch for more details to follow soon!

Filed Under: Down Payment Assistance, FHA, First Time Home Buyer, Home Advantage Program, House Key Opportunity Tagged With: , , , , ,