Washington State Mortgages, Made Clear. Buying or Refinancing? Let's find the right loan together.
A low appraisal on a refinance is one of those moments that can feel like the whole transaction is falling apart. I just worked through this with a borrower on an FHA refinance — the appraisal came in below what we needed, and we had to decide quickly how to respond. We got through it, and the experience is a good reminder that a low appraisal is not necessarily the end of the road.
Here’s what your options actually look like when this happens. [Read more…]
If you’re buying a home with less than 20% down on a conventional loan, you’ll likely be required to carry private mortgage insurance (PMI). PMI protects the lender — not you — in the event of default. But understanding how PMI works, and which payment structure makes the most sense for your situation, can help you manage costs and make a smarter financing decision.
This guide covers how PMI is calculated, the four main ways to pay for it, and how to cancel it once you’ve built enough equity. If you’re buying or refinancing a home in Washington State, I can help you compare options for your specific scenario.
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