Mortgage

If you have an FHA loan and would like to see if you can take advantage of lower interest rates, FHA streamline refinancing programs may be a way for you to re-fi at minimum out-of-pocket costs and without the worry of a low appraisal. In order to qualify, you do have to have an FHA-insured [...]

One of our recent buyers just completed a rehab of her Mercer Island condo using an FHA 203(k) Rehab Loan. The rehab loan is a great way to get immediate money to renovate your home, as the renovation costs are rolled directly into your mortgage. The process is fairly pain-free and does help home owners breathe new [...]

When getting a mortgage, there are two primary types of mortgages. One is called a conforming loan, which means that the loan amount is under the conforming loan limits. Conforming loans have the most attractive loan rates and qualification criteria because the loans are being purchased by large secondary market companies like Fannie Mae/Freddie Mac, [...]

Taking out a mortgage to buy a home or to refinance an existing mortgage usually comes with a variety of loan fees and closing costs. Some lenders will advertise a “no-fee loan” to entice borrowers who don’t want to pay the fees, but is it really a good deal? No-fee mortgages still have fees, but [...]

Buying a condominium using a mortgage involves a more stringent set of lending criteria than when you buy a stand-alone home. While it is not difficult to obtain a condo mortgage, it pays to understand the mortgage requirements upfront so that you don’t have any nasty surprises. It also will impact you when it comes [...]

Wouldn’t it be nice to not have to worry about your monthly mortgage payment? Well, if you are willing to have your house painted with advertising, this company is offering to pay your mortgage! Adzookie is a mobile advertising network, and it looks like they are trying a novel approach to billboards, tapping homeowners across [...]

Getting a mortgage for a home purchase can be a daunting task to the uninitiated, but it pays to understand the process upfront and pick the right mortgage companies to work with to ensure a quick closing. When getting a mortgage, there are three key individuals in the process: the loan officer, the loan processor [...]

Have you ever wondered how banks determine the fair market value of real estate? How do they determine an approved short sale price? Where does the minimum bid at a foreclosure auction come from? How do banks determine the loan-to-value ratio for a loan modification or refinance? In many cases, the answer is by ordering [...]

A home purchase can be a difficult process, and often negotiations on price or property inspection are difficult. However, the most difficult aspect of a home purchase inevitably seems to be securing your home loan. Lending guidelines have tightened considerably in the housing downturn, resulting in more documentation requirements, longer underwriting timelines and lengthier closing [...]