Resource Guide on the All In One Loan


I recently put together a new resource guide on the All in One Loan. The more I learn about this program, the more I appreciate this mortgage. I think it is probably the best mortgage available for most people if they qualify for it. [Read more…]

What is an Offset Mortgage?

An “offset mortgage” also known as an “all-in-one loan” is basically a 30-year home equity line of credit that includes a sweep-checking account where the deposits go directly to paying the principal balance. Homeowners can still access the funds they deposit (and their home equity) from the account, using it to pay their day-to-day bills, vacations, home improvements, whatever the credit line has available. It is essentially a “normal” checking account. [Read more…]

Qualify for Investment Property based on Cash Flow

If you are looking at adding to your real estate investment portfolio, I may have some good news for you! We have a new program that allows investors to qualify for a mortgage based on the property’s cash flow. [Read more…]

Seller Buydowns for Investment Property

3-2-1 and 2-1 seller buydowns allow homebuyers to have below market interest rates. The seller is essentially prepaying a portion of the buyers mortgage payment to effectively “buy down” the payment for a specific period of time. [Read more…]

Big Expensive Changes for Second Homes and Investment Properties

Last night, Fannie Mae announced they are essentially going to be limiting how many second homes and investment properties they will provide mortgages for. This is largely due to the additional risk associated with second homes and investment properties. This goes into effect with loans delivered to Fannie Mae on April 1, 2021 – which pretty much means “immediately” as mortgage loans are delivered to Fannie Mae (or Freddie Mac) after they close…sometimes weeks after they close with the originating mortgage company. [Read more…]

Converting your existing home to a rental property

mortgage porter sold home

If you are buying your next home, you may be considering converting your existing home into a rental or second home. The lender on your new home will have different requirements depending on what type of financing you’re obtaining. [Read more…]

eBook: Financing Your First Investment Property

This is the second edition of my slide-book, Financing Your First Investment Property.

In this edition, loan limits and mortgage programs have been updated.

If I can help you with the financing of your first (second or third) investment property located in Washington state, please contact me!

Determining Rental Income for a Conforming Mortgage

iStock-000018668640XSmallRecently Fannie Mae updated their guidelines for rental income, including the addition of Rental Income Worksheets for the lender to complete to help make sure the rental income is calculated correctly. How much rental income may be used and how it is calculated will depend on when the borrower obtained the rental property, when rents were collected and what how many units there are with the subject property. Underwriters are looking the likelihood that the rental income will continue as well as the losses too. If your rental is producing a net loss, that will factored into your qualifying ratios.

[Read more…]