Refinancing to Cash Out your Ex-Spouse

January 14, 2022 by Leave a Comment

If you’re a homeowner who is going through a divorce or a dissolution of domestic partnership, there are some things to know about using the equity from your home to “cash out” your ex-spouse.

When someone uses a refinance to take equity out of home to provide to ex-spouse, lenders will make an exception and treat the transaction as a “limited cash-out” refinance instead of “cash out” refinance. This provides slightly better pricing with the interest rate and may allow for a higher loan amount, if needed. [Read more…]

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Mortgage Rates Still at Extreme Lows

September 18, 2020 by 2 Comments

Freddie Mac’s weekly survey of mortgage rates show that interest rates are still at extremely low levels although I have noticed rates bouncing around a bit more this past week.

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Lowest Mortgage Rates in History!

March 5, 2020 by Leave a Comment

Freddie Mac’s Prime Mortgage Market Survey (PMMS) released this morning states: “The average 30-year fixed-rate mortgage hit a record 3.29 percent this week, the lowest level in its nearly 50-year history“…”30-year fixed-rate mortgage averaged 3.29 percent with an average 0.7 point for the week ending March 5, 2020, down from last week when it averaged 3.45 percent. A year ago at this time, the 30-year FRM averaged 4.41 percent. ”

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Mortgage Rates continue to DROP

January 30, 2020 by Leave a Comment

Freddie Mac released their weekly mortgage rate survey showing that mortgage rates have continued to drop are at record lows. [Read more…]

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Mortgage Rates Drop Lower

June 27, 2019 by Leave a Comment

20190627pmmsFreddie Mac released their weekly mortgage rate update, Prime Mortgage Market Survey, which illustrates just how low mortgage rates have dropped recently. [Read more…]

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Honoring our Hometown Heroes

May 21, 2019 by Leave a Comment

Rhonda_Hometown HeroMortgage Master Service Corporation recently started a program to honor our local heroes. We are now offering a $625 credit towards closing cost for a home purchase or refinance when we provide the mortgage.

Mortgage Master Service Corporation’s Hometown Heroes program is available for:

  • Police Officers
  • Firefighters and EMTs
  • Doctors and Nurses
  • Teachers
  • Military

We thank our heroes for taking care of our community and hope we can take care of you with your mortgage needs.  Please feel free to share this! I’m am honored to help you with any home purchase or refi on homes located in Washington state.

Note: This program cannot be combined with any WSHFC program. Program and pricing subject to change.

 

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When should you refi a low FHA mortgage rate?

March 14, 2019 by Leave a Comment

Beautiful luxury home exterior at twilightMany homeowners are hanging onto very low mortgage rates when they should perhaps consider refinancing the mortgage for a higher rate. What??? [Read more…]

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Changes to Limited-Cash Out Refinances

January 4, 2019 by Leave a Comment

A limited-cash out refinance is a refinance where typically, the home owner receives little to no-cash back at closing. It’s also referred to as a “rate-term” refinance. A limited cash-out or rate-term refinance offers better interest rates and/or pricing for interest rates than a true “cash out” refinance. [Read more…]

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