What Is a Jumbo Mortgage

jumbo non-conforming mortgage washingtonEverything Seattle Metro & Puget Sound Buyers Need to Know

If you’re shopping for a home in Seattle, Bellevue, Mercer Island, Kirkland, Everett, Edmonds, Tacoma, Gig Harbor, or anywhere across King, Snohomish, or Pierce County, there’s a good chance you’ll hear the word “jumbo” come up in your mortgage conversation. But what exactly is a jumbo mortgage — and does having one mean you’ll face sky-high rates or impossible qualification standards? Not necessarily, and especially not here. [Read more…]

Where Are Homebuyers Moving in Washington State?

Buying a Home in Washington StateIf you’re planning to buy a home in Washington State, you’re not alone — and you’re probably using a mortgage between $300,000 and $1,000,000.

That loan range now represents the largest share of homebuyers across Washington, from first-time buyers to relocations and move-up homeowners. But where people are buying has shifted significantly in the past few years.

Below are the top Washington cities attracting homebuyers and what mortgage financing typically looks like in each market. [Read more…]