Washington State Mortgages, Made Clear. Buying or Refinancing? Let's find the right loan together.
UPDATED: This original post from 2013 was updated in March 2026.
Yesterday I met for coffee with one of my clients who is hoping to buy a home in a Seattle area neighborhood for around $600,000. They have already taken one of the most important steps in the home buying process by getting preapproved for a mortgage. [Read more…]
Editor’s note: This post was originally published in 2013 and recommended “love letters” as a buyer strategy for Seattle home buyers. Guidance on this practice has changed significantly since then, and this post has been rewritten to reflect current thinking on the fair housing risk involved.
A “love letter” is a personal note a buyer sends along with an offer — sharing why they love the home, what they picture their life looking like there, sometimes with family photos attached. In Seattle’s competitive market, it used to be common advice for standing out. It’s not anymore, and there’s a real reason why. [Read more…]
Editor’s note: This post was originally published in 2012 and has been updated to reflect current practices. The core strategy hasn’t changed much — bidding wars are still a regular feature of Seattle-area home buying.
Bidding wars are still a regular feature of the greater Seattle-Bellevue market — just not the same way they were a few years ago. Inventory has increased meaningfully, giving buyers more options and more room to think. But well-priced, move-in-ready homes in desirable neighborhoods are still routinely drawing multiple offers, sometimes well above list price, while overpriced or less competitive listings can sit for weeks. The bidding wars haven’t disappeared — they’ve become more selective. [Read more…]
Editor’s note: This post was originally published in 2012 and has been updated to reflect current practices. The core strategy hasn’t changed much — bidding wars are still a regular feature of Seattle-area home buying.
Bidding wars are still a regular feature of the greater Seattle-Bellevue market — just not the same way they were a few years ago. Inventory has increased meaningfully, giving buyers more options and more room to think. But well-priced, move-in-ready homes in desirable neighborhoods are still routinely drawing multiple offers, sometimes well above list price, while overpriced or less competitive listings can sit for weeks. The bidding wars haven’t disappeared — they’ve become more selective. [Read more…]
If you’re getting ready to buy a home in Washington State, one of your first steps is getting preapproved. And to be truly preapproved — not just prequalified — you need to provide documentation that backs up your income, assets, and credit.
A preapproval letter is only as strong as the file behind it. If your loan originator hasn’t asked for supporting documents, you’re likely prequalified, not preapproved. There’s a meaningful difference — especially when you’re competing for a home. (Here’s a full breakdown of what each level means.)
Below is a checklist of what you’ll typically need to provide, organized by situation. It’s possible that exceptions may be made on a case-by-case basis. [Read more…]
You’re getting ready to buy a home or refinance your home with your closing day around the corner when your mortgage originator contacts you to let you know there may be a problem. Some issues may not revealed until days or sometimes weeks into a transaction. Anytime documentation is provided to the mortgage company, it has the potential to raise more questions or require more documentation to satisfy underwriting guidelines. Here are five situations to be aware of that can cause headaches during the loan process.
