Credit Tips if you are considering Buying a Home (or Refinancing)

Are you considering buying or refinancing your home in Washington? You may be surprised at what you should and shouldn’t do. Some things that are common sense may actually not be the best actions if you’re planning on obtaining a mortgage in the near future.

Essential Credit Tips for Homebuyers

Please check out my latest video with simple credit tips.

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Should You Follow Dave Ramsey’s Advice on Mortgages?

financial goals for buying a homeDave Ramsey is someone a lot of people follow for financial advise. Lately he’s been showing up A LOT in my Facebook stream pushing his thoughts on mortgages, home ownership and credit. Some of his ideas, I don’t totally disagree with. In fact, I shared a post that came from his group encouraging people to continue to pay rent and make their mortgage payments during the pandemic if at all possible (ie nothing is for free). However, I don’t support what he instructs his followers who are considering buying a home and I also have an issue with anyone who pushes their “team of vetted real estate agents”…I would be really surprised if there is not some sort of financial relationship associated with this referral arrangement.

Let’s take a look at what he encourages his followers to do with regards to buying a home or getting a mortgage. [Read more…]

Avoid Delays with your Home Purchase

Here are a few suggestions for when you are preparing a purchase and sales agreement to help avoid delays. NOTE: I’m NOT an attorney and this is NOT legal advice. I’m simply a Licensed Loan Officer offering suggestions based on my observations.  🙂 [Read more…]

What Sales Price do you qualify for with $100,000 for Down Payment and Closing Costs in Seattle?

buying a home in redmondUPDATE: Please visit our Conforming Mortgage Guide which includes current loan limits for homes in Seattle and Washington state.

If you have $100,000 available for funds for closing, you may be surprised to learn that, assuming you have the income and credit to qualify, you can buy a home with a sales price of around $800,000.

Here’s one example of how you can buy a “jumbo” priced home with less than 20% down payment.

[Read more…]

Rent or Buy in Seattle: Seattle RE Chat [Video]

In this episode of Seattle Real Estate Chat, Jim Reppond and I compare renting in Seattle to buying a home. With rents on the rise and mortgage rates at very low levels, it may be worth considering making the move to buy a home.

Here’s our Google Hangout where we discuss Seattle’s current rental market. Mortgage rates are actually currently lower than what we have quoted in this video which was recorded just over a week ago.

[Read more…]