Summary: Based on the current median home price, a 20% down payment, along with average mortgage rates for a 30-year fixed home loan, the average principal and interest payment mortgage in Seattle is approximately $3,060 as we head into 2019.…
Mortgage rates have risen since the start of 2018, and that has reduced the benefits of a mortgage refinance for some homeowners. But there are still plenty of homeowners across Washington State who could potentially save money by refinancing their…
An October 2018 report by the property analytics company CoreLogic revealed that mortgage underwriting criteria in Washington State and nationwide have eased in recent years. The report looked at a variety of underwriting items, including debt-to-income and loan-to-value ratios, and…
A recent housing report showed that most first-time home buyers in Washington State and nationwide shop for a mortgage loan before shopping for a home. There are several advantages to taking this preliminary step prior to house hunting. First-Time Buyers…
A recent survey showed that many younger home buyers across Washington State and nationwide fear that their student loan debt might prevent them from qualifying for a mortgage loan. As a result of those concerns, some would-be home buyers are…
The typical monthly mortgage payment in the Seattle area rose by around 17% from August 2017 to August 2018, according to a recent industry report. So many home buyers today are being more cost-conscious when purchasing a home. Fortunately, there…
A recent report showed that having too much debt is one of the most common reasons for mortgage loan denial in Washington State and elsewhere across the United States. Meanwhile, however, debt ratio limits have actually eased over the past…
Home prices in Portland, Oregon have cooled considerably over the last year or so. But they're still inching upward. That means the minimum down payment for a typical home in Portland has increased as well. So where are we now? What's…
"Will you need PMI because of your LTV, and how does your APR affect your ARM?" Say what? Banks and mortgage lenders often use industry acronyms that leave borrowers scratching their heads. First-time home buyers, in particular, have a hard…
How does my mortgage loan get broken down into monthly payments? What all is included in the monthly payment? These are common questions among home buyers in Washington, where we are based. Today, we'll take a look at the four…