Mortgage Articles

New Appraisal Rule

As of May 1^st 2009, appraisals have to be ordered directly through the lender, we as a broker cannot order the appraisal on the brokers name any longer. (More ...)

Updated on Saturday, May 30 2009 04:23 PM PDT

Interest Only Bye-Bye

Interest Only product has been removed by the Conforming (Loan Amount < 417k) and Super conforming category (Loan Amount > 417k and <506K for WA King County). (More ...)

Updated on Monday, May 04 2009 01:20 PM PDT

For Refinance/Cash-Out... No cash out will be allowed for loans that require mortgage insurance, mortgage insurance is applicable once the loan to value is 80% or more, so if you want to have cash out, you must have below 80% to be able to get cash out from the existing home, based on the mortgage insurance companies new restrictions. (More ...)

Updated on Thursday, Jan 29 2009 03:33 PM PST

New Super Conforming Loans

A new product being introduced to the market is called: Super Conforming Loans.

The new Super Conforming loan limits for 1-Unit properties in most areas is $625,500, however for Washington area these are the limits:

WA Seattle-Tacoma-Bellevue (Metropolitan Area) Counties of: King, Pierce, Snohomish

1 unit . (More ...)

Updated on Monday, Nov 17 2008 01:07 AM PST

Fed Drop Rate, Peoples Misconception

Fed just recently drops the rate by 0.5 %. What does this mean? Many people think that the rate for their mortgages purchases and refinances will drop by that same amount, this is never true. (More ...)

Updated on Friday, Oct 31 2008 12:31 AM PDT

Less Down, Higher Credit Scores Required

If you buying a home w/little down, you better have a good credit score, otherwise it’s very hard to get loans approved with little down. If you have a combo loan where u need a second loan, the second loan has implemented higher credit score requirements or if you choose to have all in one loan, and you have less than 20% down, you will have mortgage insurance. (More ...)

Updated on Monday, Jul 14 2008 01:23 PM PDT

Debt Restructuring

Doing a Refinance for Debt Restructuring can be very powerful; This can sometimes be a very smart move, managing your debt correctly is actually very important part of your financial plan. (More ...)

Updated on Friday, Sep 28 2007 10:01 PM PDT

Good Income and Little Debt

If you fit into this category then your loan should be qualified for the best programs available. If you have a good history, make good money, and take care of yourself, then banks will see this all as a positive signs and will make your file be easily approved. (More ...)

Updated on Thursday, Mar 22 2007 09:30 PM PDT

Business Owner Purchasing Property

If you are a business owner, then most likely you will have variable earnings, the banks will be more picky regarding this file, because business has more risk than a salaried job, so they will take into consideration both your personal information and your business information. (More ...)

Updated on Sunday, Mar 18 2007 10:47 PM PDT

Buying a Home with a Partner

You can buy a home with a partner or relative (is most common), this is basically done in order to include two incomes so that the loan becomes easier to get qualified, and possibly you can also qualify into a better program, as opposed to applying as a single person. (More ...)

Updated on Thursday, Feb 08 2007 12:15 PM PST