Zillow’s recent gloomy attention grabbing headline stating “If you buy now, it can take 13.5 years to make a profit on your home sale” has been creating quite a buzz with various media outlets. I thought I’d run some scenarios to compare. [Read more…]
Does Zillow’s Gloomy Article on Buying Now Pencil Out?
November 10, 2023 by Leave a Comment
NEW Down Payment Assistance Program
July 15, 2023 by Leave a Comment
We have added a new down payment assistance program where eligible home buyers can receive up to 100% financing. This program is not limited to first time home buyers and there are no income limits with an FHA mortgage as the first lien. Would you like more good news? The down payment assistance is in the form of a second mortgage with a 5-year forgivable option OR a 10-year repayable option.
Here’s more: [Read more…]
5 Steps to Creating Financial Security
April 26, 2023 by Leave a Comment
As a mortgage professional, I get to review detailed financials when someone is looking to buy or refinance a home via their loan application. Sometimes people are using every cent they can or are maxing out their monthly cash flow in order to have a home. I often have people who come to me because they need help restructuring their high-interest credit card debts. And I also help people who are well established. Personally, I would like to see more people on a path to financial security.
Here are a few suggestions for your consideration… not necessarily in this exact order and your plan may vary depending on your financial situation or goals. [Read more…]
How to compete with Cash Buyers? Become a Cash Buyer!
December 19, 2022 by Leave a Comment
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 a cash buyer program. This works for first time home buyers and for clients who want to buy before they sell their existing property. [Read more…]
New Income Limits for WSHFC Down Payment Programs
May 7, 2019 by Leave a Comment
The Washington State Housing Finance Commission has announced new income limits for some of their mortgage programs.
Here are the new income limits effective May 6, 2019: [Read more…]
Tips on how to save up for a down payment
December 19, 2014 by Leave a Comment
Get Rich Slowly recently posted How to Save Up for a Down Payment Fast. I’d like to respond to some of the ideas offered in GRS’s post from a Mortgage Professional’s viewpoint and offer my advice.
Here are some of the suggestions on How to Save Up for Down Payment Fast along with my 2 cents (in italics).
Why use an FHA Mortgage for your home loan?
November 2, 2014 by 3 Comments
EDITORS NOTE 2/3/2015: Since writing this post, HUD has reduced mortgage insurance premiums (yay!) and loan limits have changed. Part of the fun of writing (and reading) a mortgage blog is that guidelines and programs change constantly. Reader beware. 🙂
When Washington state home buyers and home owners request a mortgage rate quote from me, they have many options, including FHA or conventional financing. Over recent years, conventional financing has become a more popular mortgage than FHA, despite FHA’s lower down payment requirements.
What’s not so hot about FHA?
First Time Home Buyers Guide Book
May 24, 2014 by Leave a Comment
Check out the latest edition of Your First Home Mortgage Guide.
Although I wrote this book with first time home buyers in mind, a majority of the content is relevant to all home buyers.
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