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…]
Helping Your Adult Child Buy a Home
August 29, 2024 by Leave a Comment
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!
Qualify for Investment Property based on Cash Flow
January 12, 2023 by Leave a Comment
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
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…]
Big Expensive Changes for Second Homes and Investment Properties
March 11, 2021 by Leave a Comment
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
October 19, 2016 by Leave a Comment
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
December 23, 2014 by Leave a Comment
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
November 22, 2014 by 1 Comment
Recently 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.
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