Helping Washington State homeowners learn more about their mortgage options.
When you’re buying a home or refinancing in Seattle, Bellevue, Kirkland, Redmond, Tacoma, or anywhere in Washington State, receiving a mortgage quote can feel both exciting and overwhelming. It’s tempting to focus on the interest rate alone—but a truly good mortgage rate quote is about much more than one number.
Here are five key tips to help homebuyers and homeowners determine whether a mortgage quote is genuinely good—or just looks good at first glance. [Read more…]
This week’s episode shows mortgage rates trending lower and we go over 10 different factors that impact how a mortgage interest rate is priced.
The other day, a home buyer who was shopping interest rates told me that another lender would not provide her with a rate quote unless she submitted an application and allowed them to run her credit. This is wrong! A lender does not need a complete application or to pull your credit report (not even a “soft-pull”) before they can provide you with a detailed mortgage rate quote. I don’t know if it was the lender’s company policy or if they were just trying to get more information – however, it should not be required. [Read more…]
As an established Mortgage Originator in the greater Seattle area, I’m often asked, “what are the current rates” and that’s often answered with “that depends on pricing a mortgage rate”.
Mortgage rates have layers of risk factored into them. Fannie Mae refers to them as LLPAs (Loan Level Price Adjustments).
Rhonda Porter is a Licensed Mortgage Originator MLO121324 living in the greater Seattle area. Rhonda began her career in 1986 in the title and escrow industry and began her mortgage career in 2000. She enjoys helping people understand the mortgage process and started writing The Mortgage Porter in late 2006. Read More…
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