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…
Senate bill would make it easier for self-employed to qualify for mortgage loans by using alternative income-verification documents. Self-employed home buyers in Washington and Oregon (our primary service area) could soon have an easier time qualifying for mortgage loans. A…
"How much income do I need to buy a house or condo in Washington State?" This is one of the most frequently asked questions among home buyers, particularly those who are new to the process. Assuming you're using a mortgage…
The loan-to-value ratio, or LTV, is an important concept for home buyers and homeowners in Washington State. For buyers, it can affect everything from your chances for mortgage approval to the amount you have to put down on your loan.…
Home buyers in Washington tend to have a lot of questions about the mortgage application process. This is especially true for first-time buyers who have never been through the process before. Today, we will take a close-up look at the…