Buying a home for your child is a major financial and emotional decision. It’s a generous gesture that can offer security, stability and help create wealth, but it’s essential to carefully weigh the pros and cons before making this commitment. Here are some important factors to consider: [Read more…]
Complete Guide to Accessory Dwelling Units
June 6, 2024 by Leave a Comment
Washington is in the top 3 states for leading the country with the addition to accessory dwelling units!
This type of housing makes it possible for providing housing to aging parents, adult children who are priced out of the market, a workspace or to provide income as a rental property.
If you have been contemplating adding an ADU to your home or finding a home with (or that could have) an ADU, I encourage you to check out my latest resource guide: Accessory Dwelling Units.
If you’re interested in learning more about financing options, I am happy to help you!
Seller Buydowns for Investment Property
November 22, 2022 by Leave a Comment
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…]
Converting Your Home to a Rental While Buying in Washington State
October 19, 2016 by 1 Comment
One of the most common scenarios I work through with move-up buyers in Washington State is this: you want to buy your next home, but you’re considering keeping your current home as a rental rather than selling it. Maybe you’ve built significant equity and don’t want to give it up. Maybe the rental income would help offset your new mortgage payment. Maybe you simply love the neighborhood and want to hold onto the property long-term.
Whatever the reason, converting your existing home to a rental while buying a new one is entirely doable — but the mortgage guidelines are more complex than most buyers expect. The rules differ significantly depending on which loan program you’re using for the new home, how much equity you have in the departure property, and whether you have a signed lease in hand.
Here’s what you need to know. [Read more…]
Fannie Mae Reserve Requirements for Multiple Financed Properties 2026 Guide
April 20, 2016 by Leave a Comment
If you’re financing a second home or investment property while carrying mortgages on other properties, Fannie Mae requires you to demonstrate additional cash reserves — on top of your down payment and closing costs. The amount required scales with how many financed properties you have. Here’s how it works. [Read more…]
