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We’ve published many Seattle real estate market reports over the years, and most were geared toward home buyers. Today, we’ll offer some helpful insights for tech employees who are planning to relocate to Seattle in 2024.
Portland, Oregon, home buyers could enjoy a slower real estate market in 2024, with lower home prices and mortgage rates. For these and other reasons, the Portland housing market could be more buyer-friendly in 2024 compared to the past few years. Here’s an updated look at current real estate trends across the Portland-Vancouver metro area, emphasizing the above buyer-friendly conditions.
The Seattle metro area housing market seems to have undergone yet another shift over the past few months. After cooling down during much of last year, the local real estate scene has been warming up again lately. The latest evidence can be found in a new report published by analysts at Realtor.com. It showed an ongoing decline in real estate listings with a price reduction. This suggests that Seattle-area sellers are less inclined to reduce their asking prices compared to a year ago.
In a previous article, we speculated on the possibility that California’s home-price downturn might end. Since then, even more evidence has come to light reinforcing that analysis. For example, data from Zillow and other sources show that the median home price has risen over the past few months. A new report from the California Association of Realtors predicts home sales and prices will increase in 2024. So, let’s look at these two “upturn” predictions for the California real estate market in 2024.
In California, mortgage insurance is often required when a home buyer makes a small down payment. A smaller down payment results in a higher loan-to-value ratio, which can require the borrower to pay mortgage insurance. This article is an educational resource for California home buyers and homeowners who have questions about this subject. Below, we have answered some of the most common questions relating to mortgage insurance in California, including costs, requirements, and other key topics.
It’s widely known that California has some of the highest home prices of any state in the nation. Because of this, it also has a much higher average down payment, when compared to other states. A recent report showed that the median or average down payment in some parts of California now exceeds $300,000, as of 2024.
Today, we’ll be examining current real estate market trends and conditions in Tacoma, Washington — one of the most affordable housing markets in the Seattle area.
As we move into 2024, recent forecasts suggest that the Boise area real estate market could become more competitive for buyers.
Bellevue, Washington is one of the most popular real estate markets in the Seattle area. And if you currently live there, or have visited in the past, you probably already know why. It has low crime rates, great schools, cultural and recreational opportunities, and plenty of natural splendor. It’s also one of the most expensive real estate markets in the state of Washington, and for all of the same reasons mentioned above. So you definitely want to do some research before entering this housing market.
Last year, we heard a lot about real estate markets cooling down all across the country. But now, as we head further into 2024, the Seattle-area housing market appears to be revving up again.
The Portland, OR real estate market experienced a drop in inventory over recent years. Inventory in the Portland area still remains low, though local real estate experts believe we could see a shift in this trend.
The rest of 2024 could be a great time to sell a home in the Seattle metro area, all the way into the winter months. There are several reasons for this, and we will cover the mall throughout this article. Here’s the short version. Steady demand and a dearth of inventory have created ideal conditions for home sellers in Seattle and other metro areas across the U.S. This has been the story for some time, and a new report suggested that these conditions could persist for the foreseeable future.
A recent report from the government-sponsored mortgage buyer Freddie Mac brought good news for home buyers across Washington. Mortgage rates continued to trend downward last week, after climbing to a 15-year peak toward the end of last year.
This downward trend could help improve affordability for home buyers in cities throughout Washington State. Here’s what you need to know about these recent mortgage rate trends, and how they might affect you when buying a home later this year.
The real estate market in Portland, Oregon has experienced a lot of interesting trends and developments over the past few years. So we thought it might be helpful to provide a 2024 roundup of the latest home price trends for the Portland, Oregon metro area.
Is 2024 a good time to buy a home in Tacoma, Washington? It sure is looking that way. Tacoma home buyers actually have a lot going for them these days, as explained below. The biggest benefits for buyers in 2023 include more inventory, more negotiating leverage, and an overall slower pace within the real estate market.
Don’t make the mistake of using APR alone to compare mortgage offers. Learn why it’s important to understand the difference between APR and interest rate.
Get a sneak peek at the 2023 housing market with our new forecast infographic. Find out how home price appreciation, mortgage rates, and home sales are expected to change in the coming year.
Are you planning to relocate to the Seattle metro area in the near future? Wondering what the local real estate market is like, and what it takes to buy a home? You’re in the right place.
As we explained in a recent blog post, the real estate market in Portland, Oregon has undergone quite a few changes. And it looks like that could continue into 2024 as well.
Recent forecasts and predictions for the Portland-area housing market suggest that things could be very different next year, compared to what we’ve become used to.
The biggest change has to do with the overall pace of the real estate scene.
Numerous reports have shown that the real estate market is cooling down, and that sellers are going the extra mile to attract offers. Among other things, this means they’ll probably be more willing to accept offers with government-backed mortgage loans, such as FHA and VA.
Recent forecasts for the Boise, Idaho housing market in 2024 suggest the market could look very different next year. After more than 18 months of overheated home-buying activity and record-setting price growth, the Boise real estate market might finally settle down.
Seattle Housing Market Inventory Decreased Year-Over-Year! Here’s what you need to know about housing market inventory growth in the Seattle area.
As of early 2024, the average down payment for a median-priced home in the Portland, Oregon metro area was around $63,368.
The big question is, what’s the best type of mortgage loan for a home buyer in the Seattle area? FHA, VA or conventional?
Explore the fundamental criteria for securing a VA home loan in our comprehensive guide. We delve into the key requirements including credit score, debt-to-income ratio, and documented income, providing insights to help military members and veterans navigate the loan process seamlessly. Whether you’re a first-time homebuyer or seeking to refinance, understanding these VA loan prerequisites is crucial for a successful mortgage application.
People researching the Seattle-area real estate market are often surprised by the home price discrepancy between Tacoma and Seattle. Home prices within the city of Tacoma tend to be significantly lower than those in Seattle. But why? What factors make the Tacoma real estate market so much more affordable, when compared to the city of Seattle? After all, they’re both part of the same metropolitan statistical area (MSA) and only about 30 miles apart.
Are you thinking about moving to the Boise metro area and buying a home? You’re not alone. While population growth has slowed since the pandemic boom, the Boise-area real estate market continues to lure home buyers from other parts of the country. This guide gives you a broad overview of the Boise-Nampa metropolitan area, with an emphasis on relocation and home buying. We will cover everything from geography to economy, and from real estate market trends to local attractions.
When buying a home in the state of Washington, you have an opportunity to request a real estate survey to identify the legal boundaries. Your mortgage lender might require a survey as well, if you’re financing a home purchase. As a buyer, you’ll want to know what a real estate property survey is, what it does, and how it could protect you as a homeowner in Washington. This guide answers all of those questions and more.
VA loans are a popular mortgage financing option for home buyers in the San Diego metro area. In fact, San Diego County usually has a higher VA loan volume than any other county in the U.S. With its many Navy and Marine Corps bases and facilities, the San Diego area has a huge military population. That means there are many home buyers in the area who could benefit from using the VA loan program.
Seattle-area home buyers often want to know how different cities and communities compare with each other, in terms of home prices. Today we address one of those common questions: Is Bellevue cheaper than Seattle, from a real estate perspective?
Seattle, Washington has experienced a luxury condo boom in recent years, with a number of new projects coming onto the market. This trend is reshaping the downtown Seattle real estate market in a number of ways. This guide provides an overview of the luxury condo market in downtown Seattle and the surrounding area, as of 2024. It covers popular condominiums, current trends related to features and amenities, and other factors relevant to home buyers.
Recent reports have shown that the Denver, Colorado real estate market could be more friendly toward home buyers in 2024. Home prices have flattened out after several years of steady gains. Houses are taking longer to sell with fewer offers. And the Denver metro area was recently singled out as having the biggest increase in new real estate listings over the past year.
Before paying hundreds of thousands of dollars for a home in Seattle, you want to make sure the neighborhood is a good fit for your lifestyle. This is arguably just as important as the house itself. So let’s explore the most popular neighborhoods in Seattle, from a home buying perspective.
We’ve published many Seattle real estate market reports over the years, and most were geared toward home buyers. Today, we’ll offer some helpful insights for tech employees who are planning to relocate to Seattle in 2024.
In this guide: An explanation of “Mello-Roos” taxes in California and how they can affect home buyers, including the pros and cons of buying in such a district.
As a Seattle-area mortgage company, we do our best to educate local home buyers about their different mortgage options. To continue that tradition, we’ve created an FHA loan fact sheet for borrowers in the state of Washington.
Like many parts of the country, California’s housing market has suffered from chronically low inventory levels for quite some time. Supply levels dropped further during the first few months of 2023 due to higher mortgage rates that cooled the real estate market. But in the early days of 2024, California housing market inventory levels are starting to rise again. And once again, mortgage rates play a central role. Rate reductions over the past couple of months have brought more sellers into the market, increasing inventory levels.
What’s the average VA loan amount in the state of Washington? How many VA loans are processed and closed in Washington each year, and how does that compare to the rest of the nation? These are just a few of the questions we can answer by reviewing a recent VA loan usage report published by the U.S. Department of Veterans Affairs, summarizing the previous 12 months.
For a typical home buyer in the state of Washington, the down payment represents the biggest obstacle along the path to homeownership. So it’s essential for home buyers to understand the strategies and options available to them when making a down payment on a house. It’s equally important to tune out the common myths and misconceptions relating to down payments in Washington. And that’s exactly what we will focus on here today.
A recent housing market forecast published by Realtor.com suggested that California could have several of the hottest real estate markets in 2024. Southern California, in particular, is expected to see significant growth in 2024 in terms of home prices and sales. Here’s a look at the hottest California real estate markets of 2024 based on industry analysts’ latest data and projections
The state of Washington currently ranks #7 in the nation when it comes to the total number of military personnel living in the state. Because of this, plenty of folks could benefit from using a VA loan to buy a house. But there are specific steps you’ll need to take to get the ball rolling. In this article, you’ll learn how to apply for a VA home loan in the state of Washington.
Housing market inventory across the state of Washington is expected to remain tight in 2024, as it has been for several years now. One forecast predicted that we would see a decline in the number of homes for sale next year. Because of this, home buyers in WA State should explore all avenues for finding a property. And one of those avenues involves buying a for sale by owner or FSBO property.
Federal housing officials recently announced that they would be increasing the conforming loan limits in 2024 for most counties across the U.S. Here in the Seattle metro area, the 2024 conforming loan limit will be set at $977,500 for 2024. Home buyers in Seattle who need to borrow more than this limit can do so as long as they have the income to support it. When you borrow more than the conforming loan limit for your particular county, it’s considered a “jumbo” loan.
Military members and veterans in Washington often use VA loans when buying a home. This popular mortgage program allows borrowers to finance 100% of the purchase price, avoiding the down payment altogether. Like all government-backed mortgage programs, VA loans have specific requirements when it comes to documentation. Some document requirements come from lenders, while the Department of Veterans Affairs imposes others.
Are you planning to buy your first home in the state of Washington sometime during 2024? Wondering what the real estate market might be like next year and how it could affect you? If so, you’re in the right place. Sammamish Mortgage created this report to bring first-time home buyers up to speed on current market trends across the state of Washington so you can enter the market more prepared.
If you buy a home in the state of Washington using an FHA loan, you will most likely be required to sign an FHA amendatory clause. The seller will have to sign it as well. This clause is sometimes written directly into the purchase agreement or real estate contract. Other times, it might be attached as an addendum to the contract. But in either case, it serves the same purpose.
According to a Seattle Times report published earlier this year, there were more accessory dwelling units (ADUs) built in 2022 than detached single-family homes. That was the first time in Seattle’s history that ADUs outpaced single-home construction, underscoring the rising popularity of “granny flats” and other accessory dwelling units. The surge in ADU construction in Seattle partly stems from regulatory overhaul. In short, the city has made getting accessory dwelling units approved easier and faster to help ease the ongoing housing shortage.
Home buyers in the Seattle area might be tired of hearing about tight inventory conditions and other challenges. It can be wearying. But if you’re planning to enter the Seattle real estate market in 2024, you’ll want to have a clear understanding of current market conditions. Here’s an update on the housing inventory situation in Seattle and what it might mean for homebuyers in 2024.
Explore the fundamental criteria for securing a VA home loan in our comprehensive guide. We delve into the key requirements including credit score, debt-to-income ratio, and documented income, providing insights to help military members and veterans navigate the loan process seamlessly. Whether you’re a first-time homebuyer or seeking to refinance, understanding these VA loan prerequisites is crucial for a successful mortgage application.
People researching the Seattle-area real estate market are often surprised by the home price discrepancy between Tacoma and Seattle. Home prices within the city of Tacoma tend to be significantly lower than those in Seattle. But why? What factors make the Tacoma real estate market so much more affordable, when compared to the city of Seattle? After all, they’re both part of the same metropolitan statistical area (MSA) and only about 30 miles apart.
Are you thinking about moving to the Boise metro area and buying a home? You’re not alone. While population growth has slowed since the pandemic boom, the Boise-area real estate market continues to lure home buyers from other parts of the country. This guide gives you a broad overview of the Boise-Nampa metropolitan area, with an emphasis on relocation and home buying. We will cover everything from geography to economy, and from real estate market trends to local attractions.
When buying a home in the state of Washington, you have an opportunity to request a real estate survey to identify the legal boundaries. Your mortgage lender might require a survey as well, if you’re financing a home purchase. As a buyer, you’ll want to know what a real estate property survey is, what it does, and how it could protect you as a homeowner in Washington. This guide answers all of those questions and more.
VA loans are a popular mortgage financing option for home buyers in the San Diego metro area. In fact, San Diego County usually has a higher VA loan volume than any other county in the U.S. With its many Navy and Marine Corps bases and facilities, the San Diego area has a huge military population. That means there are many home buyers in the area who could benefit from using the VA loan program.
Seattle-area home buyers often want to know how different cities and communities compare with each other, in terms of home prices. Today we address one of those common questions: Is Bellevue cheaper than Seattle, from a real estate perspective?
Seattle, Washington has experienced a luxury condo boom in recent years, with a number of new projects coming onto the market. This trend is reshaping the downtown Seattle real estate market in a number of ways. This guide provides an overview of the luxury condo market in downtown Seattle and the surrounding area, as of 2024. It covers popular condominiums, current trends related to features and amenities, and other factors relevant to home buyers.
Recent reports have shown that the Denver, Colorado real estate market could be more friendly toward home buyers in 2024. Home prices have flattened out after several years of steady gains. Houses are taking longer to sell with fewer offers. And the Denver metro area was recently singled out as having the biggest increase in new real estate listings over the past year.
Before paying hundreds of thousands of dollars for a home in Seattle, you want to make sure the neighborhood is a good fit for your lifestyle. This is arguably just as important as the house itself. So let’s explore the most popular neighborhoods in Seattle, from a home buying perspective.
We’ve published many Seattle real estate market reports over the years, and most were geared toward home buyers. Today, we’ll offer some helpful insights for tech employees who are planning to relocate to Seattle in 2024.
In this guide: An explanation of “Mello-Roos” taxes in California and how they can affect home buyers, including the pros and cons of buying in such a district.
Will the rest of 2024 be a good time to refinance a home in the state of Washington? Can homeowners benefit from the drop in mortgage rates that occurred at the end of 2023? Those are two of the frequently asked questions we’ll be addressing in this mortgage market update for 2024.
As a Seattle-area mortgage company, we do our best to educate local home buyers about their different mortgage options. To continue that tradition, we’ve created an FHA loan fact sheet for borrowers in the state of Washington.
Portland, Oregon, home buyers could enjoy a slower real estate market in 2024, with lower home prices and mortgage rates. For these and other reasons, the Portland housing market could be more buyer-friendly in 2024 compared to the past few years. Here’s an updated look at current real estate trends across the Portland-Vancouver metro area, emphasizing the above buyer-friendly conditions.
Like many parts of the country, California’s housing market has suffered from chronically low inventory levels for quite some time. Supply levels dropped further during the first few months of 2023 due to higher mortgage rates that cooled the real estate market. But in the early days of 2024, California housing market inventory levels are starting to rise again. And once again, mortgage rates play a central role. Rate reductions over the past couple of months have brought more sellers into the market, increasing inventory levels.
In 2024, home buyers in Washington could enjoy lower mortgage rates than last year (on average), along with higher loan limits for FHA and conventional loans. Those are just two of the Washington mortgage trends you should know about in 2024, if you’re planning to buy or refinance a home. So let’s take a closer look at these trends and what they might mean for borrowers in 2024.
Surveys have shown there are many myths, misconceptions and misunderstandings surrounding VA loans. Some people who are well-qualified for the VA loan program, and could benefit from it, might be reluctant to apply due to misinformation. As a Washington-based mortgage company that specializes in VA loans, we do our best to educate military members and veterans about their mortgage-related benefits. So today, we will “debunk” seven of the most common myths relating to VA loans in the state of Washington.
What’s the average VA loan amount in the state of Washington? How many VA loans are processed and closed in Washington each year, and how does that compare to the rest of the nation? These are just a few of the questions we can answer by reviewing a recent VA loan usage report published by the U.S. Department of Veterans Affairs, summarizing the previous 12 months.
For a typical home buyer in the state of Washington, the down payment represents the biggest obstacle along the path to homeownership. So it’s essential for home buyers to understand the strategies and options available to them when making a down payment on a house. It’s equally important to tune out the common myths and misconceptions relating to down payments in Washington. And that’s exactly what we will focus on here today.
A recent housing market forecast published by Realtor.com suggested that California could have several of the hottest real estate markets in 2024. Southern California, in particular, is expected to see significant growth in 2024 in terms of home prices and sales. Here’s a look at the hottest California real estate markets of 2024 based on industry analysts’ latest data and projections
In this report: a review of recent mortgage rate trends at the end of 2023 and how they could help reduce Seattle housing costs in 2024.
As we approach the end of 2023, we thought it would be helpful to take a look back at how the Seattle-area real estate market has changed over the past year. No one can predict future real estate trends with complete accuracy. But hindsight has a way of helping us prepare for the future and make more informed decisions. With that in mind, here is our 2023 year in review for the Seattle housing market.
The state of Washington currently ranks #7 in the nation when it comes to the total number of military personnel living in the state. Because of this, plenty of folks could benefit from using a VA loan to buy a house. But there are specific steps you’ll need to take to get the ball rolling. In this article, you’ll learn how to apply for a VA home loan in the state of Washington.
Housing market inventory across the state of Washington is expected to remain tight in 2024, as it has been for several years now. One forecast predicted that we would see a decline in the number of homes for sale next year. Because of this, home buyers in WA State should explore all avenues for finding a property. And one of those avenues involves buying a for sale by owner or FSBO property.
Explore the fundamental criteria for securing a VA home loan in our comprehensive guide. We delve into the key requirements including credit score, debt-to-income ratio, and documented income, providing insights to help military members and veterans navigate the loan process seamlessly. Whether you’re a first-time homebuyer or seeking to refinance, understanding these VA loan prerequisites is crucial for a successful mortgage application.
People researching the Seattle-area real estate market are often surprised by the home price discrepancy between Tacoma and Seattle. Home prices within the city of Tacoma tend to be significantly lower than those in Seattle. But why? What factors make the Tacoma real estate market so much more affordable, when compared to the city of Seattle? After all, they’re both part of the same metropolitan statistical area (MSA) and only about 30 miles apart.
Are you thinking about moving to the Boise metro area and buying a home? You’re not alone. While population growth has slowed since the pandemic boom, the Boise-area real estate market continues to lure home buyers from other parts of the country. This guide gives you a broad overview of the Boise-Nampa metropolitan area, with an emphasis on relocation and home buying. We will cover everything from geography to economy, and from real estate market trends to local attractions.
When buying a home in the state of Washington, you have an opportunity to request a real estate survey to identify the legal boundaries. Your mortgage lender might require a survey as well, if you’re financing a home purchase. As a buyer, you’ll want to know what a real estate property survey is, what it does, and how it could protect you as a homeowner in Washington. This guide answers all of those questions and more.
VA loans are a popular mortgage financing option for home buyers in the San Diego metro area. In fact, San Diego County usually has a higher VA loan volume than any other county in the U.S. With its many Navy and Marine Corps bases and facilities, the San Diego area has a huge military population. That means there are many home buyers in the area who could benefit from using the VA loan program.
Seattle-area home buyers often want to know how different cities and communities compare with each other, in terms of home prices. Today we address one of those common questions: Is Bellevue cheaper than Seattle, from a real estate perspective?
Seattle, Washington has experienced a luxury condo boom in recent years, with a number of new projects coming onto the market. This trend is reshaping the downtown Seattle real estate market in a number of ways. This guide provides an overview of the luxury condo market in downtown Seattle and the surrounding area, as of 2024. It covers popular condominiums, current trends related to features and amenities, and other factors relevant to home buyers.
Recent reports have shown that the Denver, Colorado real estate market could be more friendly toward home buyers in 2024. Home prices have flattened out after several years of steady gains. Houses are taking longer to sell with fewer offers. And the Denver metro area was recently singled out as having the biggest increase in new real estate listings over the past year.
Before paying hundreds of thousands of dollars for a home in Seattle, you want to make sure the neighborhood is a good fit for your lifestyle. This is arguably just as important as the house itself. So let’s explore the most popular neighborhoods in Seattle, from a home buying perspective.
We’ve published many Seattle real estate market reports over the years, and most were geared toward home buyers. Today, we’ll offer some helpful insights for tech employees who are planning to relocate to Seattle in 2024.
In this guide: An explanation of “Mello-Roos” taxes in California and how they can affect home buyers, including the pros and cons of buying in such a district.
Will the rest of 2024 be a good time to refinance a home in the state of Washington? Can homeowners benefit from the drop in mortgage rates that occurred at the end of 2023? Those are two of the frequently asked questions we’ll be addressing in this mortgage market update for 2024.
As a Seattle-area mortgage company, we do our best to educate local home buyers about their different mortgage options. To continue that tradition, we’ve created an FHA loan fact sheet for borrowers in the state of Washington.
Portland, Oregon, home buyers could enjoy a slower real estate market in 2024, with lower home prices and mortgage rates. For these and other reasons, the Portland housing market could be more buyer-friendly in 2024 compared to the past few years. Here’s an updated look at current real estate trends across the Portland-Vancouver metro area, emphasizing the above buyer-friendly conditions.
Like many parts of the country, California’s housing market has suffered from chronically low inventory levels for quite some time. Supply levels dropped further during the first few months of 2023 due to higher mortgage rates that cooled the real estate market. But in the early days of 2024, California housing market inventory levels are starting to rise again. And once again, mortgage rates play a central role. Rate reductions over the past couple of months have brought more sellers into the market, increasing inventory levels.
In 2024, home buyers in Washington could enjoy lower mortgage rates than last year (on average), along with higher loan limits for FHA and conventional loans. Those are just two of the Washington mortgage trends you should know about in 2024, if you’re planning to buy or refinance a home. So let’s take a closer look at these trends and what they might mean for borrowers in 2024.
Surveys have shown there are many myths, misconceptions and misunderstandings surrounding VA loans. Some people who are well-qualified for the VA loan program, and could benefit from it, might be reluctant to apply due to misinformation. As a Washington-based mortgage company that specializes in VA loans, we do our best to educate military members and veterans about their mortgage-related benefits. So today, we will “debunk” seven of the most common myths relating to VA loans in the state of Washington.
What’s the average VA loan amount in the state of Washington? How many VA loans are processed and closed in Washington each year, and how does that compare to the rest of the nation? These are just a few of the questions we can answer by reviewing a recent VA loan usage report published by the U.S. Department of Veterans Affairs, summarizing the previous 12 months.
For a typical home buyer in the state of Washington, the down payment represents the biggest obstacle along the path to homeownership. So it’s essential for home buyers to understand the strategies and options available to them when making a down payment on a house. It’s equally important to tune out the common myths and misconceptions relating to down payments in Washington. And that’s exactly what we will focus on here today.
A recent housing market forecast published by Realtor.com suggested that California could have several of the hottest real estate markets in 2024. Southern California, in particular, is expected to see significant growth in 2024 in terms of home prices and sales. Here’s a look at the hottest California real estate markets of 2024 based on industry analysts’ latest data and projections
Will 2024 be a good time to buy a home in the state of Oregon? As a mortgage company that serves the entire Pacific Northwest, we do our best to educate home buyers on current real estate market conditions across the region. Today, we set our sights on Oregon.
In this report: a review of recent mortgage rate trends at the end of 2023 and how they could help reduce Seattle housing costs in 2024.
As we approach the end of 2023, we thought it would be helpful to take a look back at how the Seattle-area real estate market has changed over the past year. No one can predict future real estate trends with complete accuracy. But hindsight has a way of helping us prepare for the future and make more informed decisions. With that in mind, here is our 2023 year in review for the Seattle housing market.
The state of Washington currently ranks #7 in the nation when it comes to the total number of military personnel living in the state. Because of this, plenty of folks could benefit from using a VA loan to buy a house. But there are specific steps you’ll need to take to get the ball rolling. In this article, you’ll learn how to apply for a VA home loan in the state of Washington.
Explore the fundamental criteria for securing a VA home loan in our comprehensive guide. We delve into the key requirements including credit score, debt-to-income ratio, and documented income, providing insights to help military members and veterans navigate the loan process seamlessly. Whether you’re a first-time homebuyer or seeking to refinance, understanding these VA loan prerequisites is crucial for a successful mortgage application.
People researching the Seattle-area real estate market are often surprised by the home price discrepancy between Tacoma and Seattle. Home prices within the city of Tacoma tend to be significantly lower than those in Seattle. But why? What factors make the Tacoma real estate market so much more affordable, when compared to the city of Seattle? After all, they’re both part of the same metropolitan statistical area (MSA) and only about 30 miles apart.
Are you thinking about moving to the Boise metro area and buying a home? You’re not alone. While population growth has slowed since the pandemic boom, the Boise-area real estate market continues to lure home buyers from other parts of the country. This guide gives you a broad overview of the Boise-Nampa metropolitan area, with an emphasis on relocation and home buying. We will cover everything from geography to economy, and from real estate market trends to local attractions.
When buying a home in the state of Washington, you have an opportunity to request a real estate survey to identify the legal boundaries. Your mortgage lender might require a survey as well, if you’re financing a home purchase. As a buyer, you’ll want to know what a real estate property survey is, what it does, and how it could protect you as a homeowner in Washington. This guide answers all of those questions and more.
VA loans are a popular mortgage financing option for home buyers in the San Diego metro area. In fact, San Diego County usually has a higher VA loan volume than any other county in the U.S. With its many Navy and Marine Corps bases and facilities, the San Diego area has a huge military population. That means there are many home buyers in the area who could benefit from using the VA loan program.
Seattle-area home buyers often want to know how different cities and communities compare with each other, in terms of home prices. Today we address one of those common questions: Is Bellevue cheaper than Seattle, from a real estate perspective?
Seattle, Washington has experienced a luxury condo boom in recent years, with a number of new projects coming onto the market. This trend is reshaping the downtown Seattle real estate market in a number of ways. This guide provides an overview of the luxury condo market in downtown Seattle and the surrounding area, as of 2024. It covers popular condominiums, current trends related to features and amenities, and other factors relevant to home buyers.
Before paying hundreds of thousands of dollars for a home in Seattle, you want to make sure the neighborhood is a good fit for your lifestyle. This is arguably just as important as the house itself. So let’s explore the most popular neighborhoods in Seattle, from a home buying perspective.
We’ve published many Seattle real estate market reports over the years, and most were geared toward home buyers. Today, we’ll offer some helpful insights for tech employees who are planning to relocate to Seattle in 2024.
In this guide: An explanation of “Mello-Roos” taxes in California and how they can affect home buyers, including the pros and cons of buying in such a district.
Will the rest of 2024 be a good time to refinance a home in the state of Washington? Can homeowners benefit from the drop in mortgage rates that occurred at the end of 2023? Those are two of the frequently asked questions we’ll be addressing in this mortgage market update for 2024.
As a Seattle-area mortgage company, we do our best to educate local home buyers about their different mortgage options. To continue that tradition, we’ve created an FHA loan fact sheet for borrowers in the state of Washington.
Like many parts of the country, California’s housing market has suffered from chronically low inventory levels for quite some time. Supply levels dropped further during the first few months of 2023 due to higher mortgage rates that cooled the real estate market. But in the early days of 2024, California housing market inventory levels are starting to rise again. And once again, mortgage rates play a central role. Rate reductions over the past couple of months have brought more sellers into the market, increasing inventory levels.
In 2024, home buyers in Washington could enjoy lower mortgage rates than last year (on average), along with higher loan limits for FHA and conventional loans. Those are just two of the Washington mortgage trends you should know about in 2024, if you’re planning to buy or refinance a home. So let’s take a closer look at these trends and what they might mean for borrowers in 2024.
Surveys have shown there are many myths, misconceptions and misunderstandings surrounding VA loans. Some people who are well-qualified for the VA loan program, and could benefit from it, might be reluctant to apply due to misinformation. As a Washington-based mortgage company that specializes in VA loans, we do our best to educate military members and veterans about their mortgage-related benefits. So today, we will “debunk” seven of the most common myths relating to VA loans in the state of Washington.
For a typical home buyer in the state of Washington, the down payment represents the biggest obstacle along the path to homeownership. So it’s essential for home buyers to understand the strategies and options available to them when making a down payment on a house. It’s equally important to tune out the common myths and misconceptions relating to down payments in Washington. And that’s exactly what we will focus on here today.
As we approach the end of 2023, we thought it would be helpful to take a look back at how the Seattle-area real estate market has changed over the past year. No one can predict future real estate trends with complete accuracy. But hindsight has a way of helping us prepare for the future and make more informed decisions. With that in mind, here is our 2023 year in review for the Seattle housing market.
The state of Washington currently ranks #7 in the nation when it comes to the total number of military personnel living in the state. Because of this, plenty of folks could benefit from using a VA loan to buy a house. But there are specific steps you’ll need to take to get the ball rolling. In this article, you’ll learn how to apply for a VA home loan in the state of Washington.
Housing market inventory across the state of Washington is expected to remain tight in 2024, as it has been for several years now. One forecast predicted that we would see a decline in the number of homes for sale next year. Because of this, home buyers in WA State should explore all avenues for finding a property. And one of those avenues involves buying a for sale by owner or FSBO property.
Federal housing officials recently announced that they would be increasing the conforming loan limits in 2024 for most counties across the U.S. Here in the Seattle metro area, the 2024 conforming loan limit will be set at $977,500 for 2024. Home buyers in Seattle who need to borrow more than this limit can do so as long as they have the income to support it. When you borrow more than the conforming loan limit for your particular county, it’s considered a “jumbo” loan.
Military members and veterans in Washington often use VA loans when buying a home. This popular mortgage program allows borrowers to finance 100% of the purchase price, avoiding the down payment altogether. Like all government-backed mortgage programs, VA loans have specific requirements when it comes to documentation. Some document requirements come from lenders, while the Department of Veterans Affairs imposes others.
In 2023, higher mortgage rates cooled the real estate market in Washington and elsewhere across the country. But home loan rates have been trending downward lately, and some economists expect this to continue into 2024. According to one recent forecast, lower rates could accelerate the housing market and increase home sales across Washington in 2024. Lower borrowing costs could increase buyers’ demand and bring more homes on the market.
Are you planning to buy your first home in the state of Washington sometime during 2024? Wondering what the real estate market might be like next year and how it could affect you? If so, you’re in the right place. Sammamish Mortgage created this report to bring first-time home buyers up to speed on current market trends across the state of Washington so you can enter the market more prepared.
If you buy a home in the state of Washington using an FHA loan, you will most likely be required to sign an FHA amendatory clause. The seller will have to sign it as well. This clause is sometimes written directly into the purchase agreement or real estate contract. Other times, it might be attached as an addendum to the contract. But in either case, it serves the same purpose.
When buying a home in the state of Washington, you have an opportunity to request a real estate survey to identify the legal boundaries. Your mortgage lender might require a survey as well, if you’re financing a home purchase. As a buyer, you’ll want to know what a real estate property survey is, what it does, and how it could protect you as a homeowner in Washington. This guide answers all of those questions and more.
VA loans are a popular mortgage financing option for home buyers in the San Diego metro area. In fact, San Diego County usually has a higher VA loan volume than any other county in the U.S. With its many Navy and Marine Corps bases and facilities, the San Diego area has a huge military population. That means there are many home buyers in the area who could benefit from using the VA loan program.
Will the rest of 2024 be a good time to refinance a home in the state of Washington? Can homeowners benefit from the drop in mortgage rates that occurred at the end of 2023? Those are two of the frequently asked questions we’ll be addressing in this mortgage market update for 2024.
As a Seattle-area mortgage company, we do our best to educate local home buyers about their different mortgage options. To continue that tradition, we’ve created an FHA loan fact sheet for borrowers in the state of Washington.
Portland, Oregon, home buyers could enjoy a slower real estate market in 2024, with lower home prices and mortgage rates. For these and other reasons, the Portland housing market could be more buyer-friendly in 2024 compared to the past few years. Here’s an updated look at current real estate trends across the Portland-Vancouver metro area, emphasizing the above buyer-friendly conditions.
Like many parts of the country, California’s housing market has suffered from chronically low inventory levels for quite some time. Supply levels dropped further during the first few months of 2023 due to higher mortgage rates that cooled the real estate market. But in the early days of 2024, California housing market inventory levels are starting to rise again. And once again, mortgage rates play a central role. Rate reductions over the past couple of months have brought more sellers into the market, increasing inventory levels.
In 2024, home buyers in Washington could enjoy lower mortgage rates than last year (on average), along with higher loan limits for FHA and conventional loans. Those are just two of the Washington mortgage trends you should know about in 2024, if you’re planning to buy or refinance a home. So let’s take a closer look at these trends and what they might mean for borrowers in 2024.
Surveys have shown there are many myths, misconceptions and misunderstandings surrounding VA loans. Some people who are well-qualified for the VA loan program, and could benefit from it, might be reluctant to apply due to misinformation. As a Washington-based mortgage company that specializes in VA loans, we do our best to educate military members and veterans about their mortgage-related benefits. So today, we will “debunk” seven of the most common myths relating to VA loans in the state of Washington.
What’s the average VA loan amount in the state of Washington? How many VA loans are processed and closed in Washington each year, and how does that compare to the rest of the nation? These are just a few of the questions we can answer by reviewing a recent VA loan usage report published by the U.S. Department of Veterans Affairs, summarizing the previous 12 months.
For a typical home buyer in the state of Washington, the down payment represents the biggest obstacle along the path to homeownership. So it’s essential for home buyers to understand the strategies and options available to them when making a down payment on a house. It’s equally important to tune out the common myths and misconceptions relating to down payments in Washington. And that’s exactly what we will focus on here today.
A recent housing market forecast published by Realtor.com suggested that California could have several of the hottest real estate markets in 2024. Southern California, in particular, is expected to see significant growth in 2024 in terms of home prices and sales. Here’s a look at the hottest California real estate markets of 2024 based on industry analysts’ latest data and projections
Will 2024 be a good time to buy a home in the state of Oregon? As a mortgage company that serves the entire Pacific Northwest, we do our best to educate home buyers on current real estate market conditions across the region. Today, we set our sights on Oregon.
In this report: a review of recent mortgage rate trends at the end of 2023 and how they could help reduce Seattle housing costs in 2024.
As we approach the end of 2023, we thought it would be helpful to take a look back at how the Seattle-area real estate market has changed over the past year. No one can predict future real estate trends with complete accuracy. But hindsight has a way of helping us prepare for the future and make more informed decisions. With that in mind, here is our 2023 year in review for the Seattle housing market.
Housing market inventory across the state of Washington is expected to remain tight in 2024, as it has been for several years now. One forecast predicted that we would see a decline in the number of homes for sale next year. Because of this, home buyers in WA State should explore all avenues for finding a property. And one of those avenues involves buying a for sale by owner or FSBO property.
In 2023, higher mortgage rates cooled the real estate market in Washington and elsewhere across the country. But home loan rates have been trending downward lately, and some economists expect this to continue into 2024. According to one recent forecast, lower rates could accelerate the housing market and increase home sales across Washington in 2024. Lower borrowing costs could increase buyers’ demand and bring more homes on the market.
If you buy a home in the state of Washington using an FHA loan, you will most likely be required to sign an FHA amendatory clause. The seller will have to sign it as well. This clause is sometimes written directly into the purchase agreement or real estate contract. Other times, it might be attached as an addendum to the contract. But in either case, it serves the same purpose.
The Spokane, WA housing market in 2024 anticipates modest growth, with a steady rise in home prices and a notable increase in inventory levels. Despite the challenges of higher mortgage rates, buyers and sellers are adapting, suggesting a more balanced market. This environment promises better opportunities for homebuyers while maintaining healthy activity for sellers.
According to a Seattle Times report published earlier this year, there were more accessory dwelling units (ADUs) built in 2022 than detached single-family homes. That was the first time in Seattle’s history that ADUs outpaced single-home construction, underscoring the rising popularity of “granny flats” and other accessory dwelling units. The surge in ADU construction in Seattle partly stems from regulatory overhaul. In short, the city has made getting accessory dwelling units approved easier and faster to help ease the ongoing housing shortage.
Home buyers in the Seattle area might be tired of hearing about tight inventory conditions and other challenges. It can be wearying. But if you’re planning to enter the Seattle real estate market in 2024, you’ll want to have a clear understanding of current market conditions. Here’s an update on the housing inventory situation in Seattle and what it might mean for homebuyers in 2024.
People tend to have many questions about the home appraisal process in Washington, and we’ve addressed some of them in the past. In this article, we’ll review the average cost of an appraisal in Washington, factors influencing the cost, and scenarios where an appraisal might either be required or warranted.
A recent report showed that the San Diego real estate market experienced the most significant annual increase in home prices over the past year. It also experienced significant inventory declines during that same timeframe. But what does this mean for homebuyers in 2024? What’s the general outlook and forecast for the San Diego real estate market extending into 2024?
If you’re going to use a mortgage loan to buy a home in the state of Washington, you’ll probably experience the home appraisal process firsthand. In this article, we will explain the interconnected relationship between home appraisals, comparable sales, and market values. More importantly, you’ll learn how these things can influence the amount of money you’re able to borrow when buying a home.
The Seattle metro area housing market seems to have undergone yet another shift over the past few months. After cooling down during much of last year, the local real estate scene has been warming up again lately. The latest evidence can be found in a new report published by analysts at Realtor.com. It showed an ongoing decline in real estate listings with a price reduction. This suggests that Seattle-area sellers are less inclined to reduce their asking prices compared to a year ago.
Explore the fundamental criteria for securing a VA home loan in our comprehensive guide. We delve into the key requirements including credit score, debt-to-income ratio, and documented income, providing insights to help military members and veterans navigate the loan process seamlessly. Whether you’re a first-time homebuyer or seeking to refinance, understanding these VA loan prerequisites is crucial for a successful mortgage application.
When buying a home in the state of Washington, you have an opportunity to request a real estate survey to identify the legal boundaries. Your mortgage lender might require a survey as well, if you’re financing a home purchase. As a buyer, you’ll want to know what a real estate property survey is, what it does, and how it could protect you as a homeowner in Washington. This guide answers all of those questions and more.
VA loans are a popular mortgage financing option for home buyers in the San Diego metro area. In fact, San Diego County usually has a higher VA loan volume than any other county in the U.S. With its many Navy and Marine Corps bases and facilities, the San Diego area has a huge military population. That means there are many home buyers in the area who could benefit from using the VA loan program.
Seattle, Washington has experienced a luxury condo boom in recent years, with a number of new projects coming onto the market. This trend is reshaping the downtown Seattle real estate market in a number of ways. This guide provides an overview of the luxury condo market in downtown Seattle and the surrounding area, as of 2024. It covers popular condominiums, current trends related to features and amenities, and other factors relevant to home buyers.
As a Seattle-area mortgage company, we do our best to educate local home buyers about their different mortgage options. To continue that tradition, we’ve created an FHA loan fact sheet for borrowers in the state of Washington.
What’s the average VA loan amount in the state of Washington? How many VA loans are processed and closed in Washington each year, and how does that compare to the rest of the nation? These are just a few of the questions we can answer by reviewing a recent VA loan usage report published by the U.S. Department of Veterans Affairs, summarizing the previous 12 months.
For a typical home buyer in the state of Washington, the down payment represents the biggest obstacle along the path to homeownership. So it’s essential for home buyers to understand the strategies and options available to them when making a down payment on a house. It’s equally important to tune out the common myths and misconceptions relating to down payments in Washington. And that’s exactly what we will focus on here today.
The state of Washington currently ranks #7 in the nation when it comes to the total number of military personnel living in the state. Because of this, plenty of folks could benefit from using a VA loan to buy a house. But there are specific steps you’ll need to take to get the ball rolling. In this article, you’ll learn how to apply for a VA home loan in the state of Washington.
Federal housing officials recently announced that they would be increasing the conforming loan limits in 2024 for most counties across the U.S. Here in the Seattle metro area, the 2024 conforming loan limit will be set at $977,500 for 2024. Home buyers in Seattle who need to borrow more than this limit can do so as long as they have the income to support it. When you borrow more than the conforming loan limit for your particular county, it’s considered a “jumbo” loan.
According to a Seattle Times report published earlier this year, there were more accessory dwelling units (ADUs) built in 2022 than detached single-family homes. That was the first time in Seattle’s history that ADUs outpaced single-home construction, underscoring the rising popularity of “granny flats” and other accessory dwelling units. The surge in ADU construction in Seattle partly stems from regulatory overhaul. In short, the city has made getting accessory dwelling units approved easier and faster to help ease the ongoing housing shortage.
There are several critical stages along the path to VA loan approval and closing. Mortgage underwriting is one of these critical stages. In this guide, we will walk through the different steps in the VA loan underwriting process and explain what borrowers can do to help keep that process on track.
The state of Washington is home to many military members and veterans. This means many residents could benefit from using the VA loan program, which is reserved for this group. As a Washington-based mortgage company specializing in VA loans, we do our best to educate home buyers and mortgage shoppers about this unique loan program. Today, we’ll explore the closing process when using a VA loan to buy a house in Washington.
When it comes to VA loans, the home appraisal is one of the most important steps along the path toward closing. The appraisal can determine whether the property is eligible for VA-backed mortgage financing. This article will explore the minimum property requirements for VA loans in Washington, where they come from, and how they can affect you when buying a house.
In California, mortgage insurance is often required when a home buyer makes a small down payment. A smaller down payment results in a higher loan-to-value ratio, which can require the borrower to pay mortgage insurance. This article is an educational resource for California home buyers and homeowners who have questions about this subject. Below, we have answered some of the most common questions relating to mortgage insurance in California, including costs, requirements, and other key topics.
It’s widely known that California has some of the highest home prices of any state in the nation. Because of this, it also has a much higher average down payment, when compared to other states. A recent report showed that the median or average down payment in some parts of California now exceeds $300,000, as of 2024.
We’ve heard a lot about real estate market inventory shortages over the past few years, both here in Washington and also nationwide. Low levels of supply have challenged home buyers, especially in the more populous parts of the state like the Seattle metro. But when it comes to buying a home in the state of Washington, there’s a solution for almost every challenge. Today, we will offer some tips for buying a home in Washington during a persistent inventory shortage.
We’ve covered the concept of title insurance in the past, from a who-pays-what perspective. But home buyers in Washington tend to have a lot of questions about this subject. So today, we will drill down and focus on the owner’s title insurance policy, in particular. Here’s what home buyers in Washington should know about owner’s title insurance policies and the important protections they provide.
Private mortgage insurance can be a confusing subject for first-time home buyers. And a lack of knowledge opens the door to misconceptions and misunderstanding. Today, we will address some of the most common “myths” and misconceptions about private mortgage insurance in the state of Washington.
First-time buyers in Washington tend to have a lot of questions when it comes to the minimum down payment requirements for loans. Today, we will address these questions.
It can be challenging to save enough money for a down payment, especially in the Seattle area where home prices running higher than the national average. But with proper planning and good old-fashioned financial discipline, home buyers can overcome many of these challenges and achieve their dream of homeownership. This article explores three of the most common down payment challenges Seattle-area home buyers encounter, along with some strategies for overcoming them.
We’ve written about the down payment requirements for different types of mortgage loans in the past, along with the average down payment size across Washington State. But those numbers might not apply to your particular situation. As a home buyer, you’ll want to determine the best down payment amount for yourself, based on your budget and long-term goals. So let’s talk about how you might actually do that.
Home buyers in Washington who purchase a home with a down payment below 20% are often required to obtain private mortgage insurance (PMI). PMI serves as protection for lenders in case borrowers default on their mortgage payments. It’s an industrywide standard. In most cases, PMI premiums get added onto the monthly mortgage payment, along with property taxes and homeowners insurance. So it increases the size of the monthly payments.
Home buyers in the state of Washington have a lot of options when it comes to mortgage financing. We have covered many of those options in previous blog posts. Today, we will focus on the most popular type of mortgage loan for Washington home buyers: the conventional 30-year fixed-rate mortgage.
Investing in real estate can be a lucrative way to build wealth and generate passive income. But like any major investment, it requires careful planning, research, and due diligence to avoid costly mistakes. In other words, you have to know what you’re doing. Sometimes, the best way to learn the right way to do something is by understanding the wrong way. And that’s what we will focus on today. In this article, we will cover some of the common mistakes to avoid when buying an investment home in the state of Washington.
Seattle, Washington has experienced a luxury condo boom in recent years, with a number of new projects coming onto the market. This trend is reshaping the downtown Seattle real estate market in a number of ways. This guide provides an overview of the luxury condo market in downtown Seattle and the surrounding area, as of 2024. It covers popular condominiums, current trends related to features and amenities, and other factors relevant to home buyers.
In 2024, home buyers in Washington could enjoy lower mortgage rates than last year (on average), along with higher loan limits for FHA and conventional loans. Those are just two of the Washington mortgage trends you should know about in 2024, if you’re planning to buy or refinance a home. So let’s take a closer look at these trends and what they might mean for borrowers in 2024.
For a typical home buyer in the state of Washington, the down payment represents the biggest obstacle along the path to homeownership. So it’s essential for home buyers to understand the strategies and options available to them when making a down payment on a house. It’s equally important to tune out the common myths and misconceptions relating to down payments in Washington. And that’s exactly what we will focus on here today.
In this report: a review of recent mortgage rate trends at the end of 2023 and how they could help reduce Seattle housing costs in 2024.
According to a Seattle Times report published earlier this year, there were more accessory dwelling units (ADUs) built in 2022 than detached single-family homes. That was the first time in Seattle’s history that ADUs outpaced single-home construction, underscoring the rising popularity of “granny flats” and other accessory dwelling units. The surge in ADU construction in Seattle partly stems from regulatory overhaul. In short, the city has made getting accessory dwelling units approved easier and faster to help ease the ongoing housing shortage.
In California, mortgage insurance is often required when a home buyer makes a small down payment. A smaller down payment results in a higher loan-to-value ratio, which can require the borrower to pay mortgage insurance. This article is an educational resource for California home buyers and homeowners who have questions about this subject. Below, we have answered some of the most common questions relating to mortgage insurance in California, including costs, requirements, and other key topics.
We’ve heard a lot about real estate market inventory shortages over the past few years, both here in Washington and also nationwide. Low levels of supply have challenged home buyers, especially in the more populous parts of the state like the Seattle metro. But when it comes to buying a home in the state of Washington, there’s a solution for almost every challenge. Today, we will offer some tips for buying a home in Washington during a persistent inventory shortage.
We’ve covered the concept of title insurance in the past, from a who-pays-what perspective. But home buyers in Washington tend to have a lot of questions about this subject. So today, we will drill down and focus on the owner’s title insurance policy, in particular. Here’s what home buyers in Washington should know about owner’s title insurance policies and the important protections they provide.
Private mortgage insurance can be a confusing subject for first-time home buyers. And a lack of knowledge opens the door to misconceptions and misunderstanding. Today, we will address some of the most common “myths” and misconceptions about private mortgage insurance in the state of Washington.
Home buyers in Washington who purchase a home with a down payment below 20% are often required to obtain private mortgage insurance (PMI). PMI serves as protection for lenders in case borrowers default on their mortgage payments. It’s an industrywide standard. In most cases, PMI premiums get added onto the monthly mortgage payment, along with property taxes and homeowners insurance. So it increases the size of the monthly payments.
Home buyers in Washington tend to have a lot of questions about the mortgage application process. What is the first step when applying for a home loan? What kind of documents do I need to round up? How long does the application process take, and what happens next? Today, we will address these and other common questions about the mortgage loan application process for home buyers in Washington.
Do you plan to buy a home in Washington in 2023, using an FHA loan? If so, there’s some good news you should know about. Federal housing officials recently announced that they will be reducing the annual mortgage insurance premium for FHA home loans. This change could save Washington borrowers hundreds of dollars per year, by reducing one of the recurring expenses associated with FHA loans.
The average cost of a homeowners insurance policy in the Seattle area is currently around $1,543, according to 2022 data. But that’s just an average taken across all policies, which can vary widely based on home values and other factors. Here’s a closer look at the average home insurance premium for Seattle, Washington, followed by some strategies you could use to reduce your own costs.
First-time home buyers in Washington tend to have a lot of questions about down payment requirements for a mortgage loan. One of the most common questions is, what types of funds can I use toward my down payment? In this article, we will talk about some of the acceptable sources for down payment funds, when using a mortgage loan in Washington State.
A new report showed that home equity loans and home equity lines of credit, or HELOCs, have become more popular in Washington State and across the U.S. More and more homeowners have turned to equity loans and HELOCs as a way to tap into their home equity.
Is Digital VA Home Appraisals in Washington State Coming Soon? This could expedite the process and possibly reduce costs for the borrower.
The problem for buyers who depend on a mortgage is the challenge of competing with all-cash offers, particularly in multiple offer situations. How can you compete with a cash offer when buying a home to ensure you come out the winning bidder?
Homeowners insurance is typically be required by mortgage lenders, to ensure they can recoup their loan amount if something happens to your home. This type of coverage can protect you and your belongings as well, but does homeowners insurance cover emergencies?
What are the top Boise real estate trends this year? Perhaps more importantly, what is the Boise housing market forecast for 2024? Let’s answer these questions to help you determine whether next year is a good time to buy.
A no closing cost refinance can help you in a variety of ways. You might be able to leverage a lower interest rate, or you could lengthen your loan term to spread out your loan balance and make your monthly payment smaller over the life of the loan.
There are a lot of ways you can use the differences between property types to help you get a better deal on a mortgage. Find out how to classify your prospective property buy, and get the best interest rate possible
The cost of homeowners insurance can vary from year to year. It is affected by a number of factors, including the location of your home and the type of policy you choose.
There are several reasons why a 2021 housing market crash is highly unlikely.
If you think you can’t buy a home with investment income as your qualifier for a mortgage, think again. If you can show stability, investment income is as good as any other type of income.
Explore the fundamental criteria for securing a VA home loan in our comprehensive guide. We delve into the key requirements including credit score, debt-to-income ratio, and documented income, providing insights to help military members and veterans navigate the loan process seamlessly. Whether you’re a first-time homebuyer or seeking to refinance, understanding these VA loan prerequisites is crucial for a successful mortgage application.
People researching the Seattle-area real estate market are often surprised by the home price discrepancy between Tacoma and Seattle. Home prices within the city of Tacoma tend to be significantly lower than those in Seattle. But why? What factors make the Tacoma real estate market so much more affordable, when compared to the city of Seattle? After all, they’re both part of the same metropolitan statistical area (MSA) and only about 30 miles apart.
Are you thinking about moving to the Boise metro area and buying a home? You’re not alone. While population growth has slowed since the pandemic boom, the Boise-area real estate market continues to lure home buyers from other parts of the country. This guide gives you a broad overview of the Boise-Nampa metropolitan area, with an emphasis on relocation and home buying. We will cover everything from geography to economy, and from real estate market trends to local attractions.
When buying a home in the state of Washington, you have an opportunity to request a real estate survey to identify the legal boundaries. Your mortgage lender might require a survey as well, if you’re financing a home purchase. As a buyer, you’ll want to know what a real estate property survey is, what it does, and how it could protect you as a homeowner in Washington. This guide answers all of those questions and more.
VA loans are a popular mortgage financing option for home buyers in the San Diego metro area. In fact, San Diego County usually has a higher VA loan volume than any other county in the U.S. With its many Navy and Marine Corps bases and facilities, the San Diego area has a huge military population. That means there are many home buyers in the area who could benefit from using the VA loan program.
Seattle-area home buyers often want to know how different cities and communities compare with each other, in terms of home prices. Today we address one of those common questions: Is Bellevue cheaper than Seattle, from a real estate perspective?
Seattle, Washington has experienced a luxury condo boom in recent years, with a number of new projects coming onto the market. This trend is reshaping the downtown Seattle real estate market in a number of ways. This guide provides an overview of the luxury condo market in downtown Seattle and the surrounding area, as of 2024. It covers popular condominiums, current trends related to features and amenities, and other factors relevant to home buyers.
Recent reports have shown that the Denver, Colorado real estate market could be more friendly toward home buyers in 2024. Home prices have flattened out after several years of steady gains. Houses are taking longer to sell with fewer offers. And the Denver metro area was recently singled out as having the biggest increase in new real estate listings over the past year.
Before paying hundreds of thousands of dollars for a home in Seattle, you want to make sure the neighborhood is a good fit for your lifestyle. This is arguably just as important as the house itself. So let’s explore the most popular neighborhoods in Seattle, from a home buying perspective.
We’ve published many Seattle real estate market reports over the years, and most were geared toward home buyers. Today, we’ll offer some helpful insights for tech employees who are planning to relocate to Seattle in 2024.
In this guide: An explanation of “Mello-Roos” taxes in California and how they can affect home buyers, including the pros and cons of buying in such a district.
Will the rest of 2024 be a good time to refinance a home in the state of Washington? Can homeowners benefit from the drop in mortgage rates that occurred at the end of 2023? Those are two of the frequently asked questions we’ll be addressing in this mortgage market update for 2024.
As a Seattle-area mortgage company, we do our best to educate local home buyers about their different mortgage options. To continue that tradition, we’ve created an FHA loan fact sheet for borrowers in the state of Washington.
Portland, Oregon, home buyers could enjoy a slower real estate market in 2024, with lower home prices and mortgage rates. For these and other reasons, the Portland housing market could be more buyer-friendly in 2024 compared to the past few years. Here’s an updated look at current real estate trends across the Portland-Vancouver metro area, emphasizing the above buyer-friendly conditions.
Like many parts of the country, California’s housing market has suffered from chronically low inventory levels for quite some time. Supply levels dropped further during the first few months of 2023 due to higher mortgage rates that cooled the real estate market. But in the early days of 2024, California housing market inventory levels are starting to rise again. And once again, mortgage rates play a central role. Rate reductions over the past couple of months have brought more sellers into the market, increasing inventory levels.
In 2024, home buyers in Washington could enjoy lower mortgage rates than last year (on average), along with higher loan limits for FHA and conventional loans. Those are just two of the Washington mortgage trends you should know about in 2024, if you’re planning to buy or refinance a home. So let’s take a closer look at these trends and what they might mean for borrowers in 2024.
Surveys have shown there are many myths, misconceptions and misunderstandings surrounding VA loans. Some people who are well-qualified for the VA loan program, and could benefit from it, might be reluctant to apply due to misinformation. As a Washington-based mortgage company that specializes in VA loans, we do our best to educate military members and veterans about their mortgage-related benefits. So today, we will “debunk” seven of the most common myths relating to VA loans in the state of Washington.
What’s the average VA loan amount in the state of Washington? How many VA loans are processed and closed in Washington each year, and how does that compare to the rest of the nation? These are just a few of the questions we can answer by reviewing a recent VA loan usage report published by the U.S. Department of Veterans Affairs, summarizing the previous 12 months.
For a typical home buyer in the state of Washington, the down payment represents the biggest obstacle along the path to homeownership. So it’s essential for home buyers to understand the strategies and options available to them when making a down payment on a house. It’s equally important to tune out the common myths and misconceptions relating to down payments in Washington. And that’s exactly what we will focus on here today.
A recent housing market forecast published by Realtor.com suggested that California could have several of the hottest real estate markets in 2024. Southern California, in particular, is expected to see significant growth in 2024 in terms of home prices and sales. Here’s a look at the hottest California real estate markets of 2024 based on industry analysts’ latest data and projections
Will 2024 be a good time to buy a home in the state of Oregon? As a mortgage company that serves the entire Pacific Northwest, we do our best to educate home buyers on current real estate market conditions across the region. Today, we set our sights on Oregon.
In this report: a review of recent mortgage rate trends at the end of 2023 and how they could help reduce Seattle housing costs in 2024.
As we approach the end of 2023, we thought it would be helpful to take a look back at how the Seattle-area real estate market has changed over the past year. No one can predict future real estate trends with complete accuracy. But hindsight has a way of helping us prepare for the future and make more informed decisions. With that in mind, here is our 2023 year in review for the Seattle housing market.
The state of Washington currently ranks #7 in the nation when it comes to the total number of military personnel living in the state. Because of this, plenty of folks could benefit from using a VA loan to buy a house. But there are specific steps you’ll need to take to get the ball rolling. In this article, you’ll learn how to apply for a VA home loan in the state of Washington.
People researching the Seattle-area real estate market are often surprised by the home price discrepancy between Tacoma and Seattle. Home prices within the city of Tacoma tend to be significantly lower than those in Seattle. But why? What factors make the Tacoma real estate market so much more affordable, when compared to the city of Seattle? After all, they’re both part of the same metropolitan statistical area (MSA) and only about 30 miles apart.
Are you thinking about moving to the Boise metro area and buying a home? You’re not alone. While population growth has slowed since the pandemic boom, the Boise-area real estate market continues to lure home buyers from other parts of the country. This guide gives you a broad overview of the Boise-Nampa metropolitan area, with an emphasis on relocation and home buying. We will cover everything from geography to economy, and from real estate market trends to local attractions.
When buying a home in the state of Washington, you have an opportunity to request a real estate survey to identify the legal boundaries. Your mortgage lender might require a survey as well, if you’re financing a home purchase. As a buyer, you’ll want to know what a real estate property survey is, what it does, and how it could protect you as a homeowner in Washington. This guide answers all of those questions and more.
Seattle, Washington has experienced a luxury condo boom in recent years, with a number of new projects coming onto the market. This trend is reshaping the downtown Seattle real estate market in a number of ways. This guide provides an overview of the luxury condo market in downtown Seattle and the surrounding area, as of 2024. It covers popular condominiums, current trends related to features and amenities, and other factors relevant to home buyers.
Recent reports have shown that the Denver, Colorado real estate market could be more friendly toward home buyers in 2024. Home prices have flattened out after several years of steady gains. Houses are taking longer to sell with fewer offers. And the Denver metro area was recently singled out as having the biggest increase in new real estate listings over the past year.
Before paying hundreds of thousands of dollars for a home in Seattle, you want to make sure the neighborhood is a good fit for your lifestyle. This is arguably just as important as the house itself. So let’s explore the most popular neighborhoods in Seattle, from a home buying perspective.
We’ve published many Seattle real estate market reports over the years, and most were geared toward home buyers. Today, we’ll offer some helpful insights for tech employees who are planning to relocate to Seattle in 2024.
In this guide: An explanation of “Mello-Roos” taxes in California and how they can affect home buyers, including the pros and cons of buying in such a district.
Are you planning to buy your first home in the state of Washington sometime during 2024? Wondering what the real estate market might be like next year and how it could affect you? If so, you’re in the right place. Sammamish Mortgage created this report to bring first-time home buyers up to speed on current market trends across the state of Washington so you can enter the market more prepared.
According to a Seattle Times report published earlier this year, there were more accessory dwelling units (ADUs) built in 2022 than detached single-family homes. That was the first time in Seattle’s history that ADUs outpaced single-home construction, underscoring the rising popularity of “granny flats” and other accessory dwelling units. The surge in ADU construction in Seattle partly stems from regulatory overhaul. In short, the city has made getting accessory dwelling units approved easier and faster to help ease the ongoing housing shortage.
There are several critical stages along the path to VA loan approval and closing. Mortgage underwriting is one of these critical stages. In this guide, we will walk through the different steps in the VA loan underwriting process and explain what borrowers can do to help keep that process on track.
The Seattle metro area housing market seems to have undergone yet another shift over the past few months. After cooling down during much of last year, the local real estate scene has been warming up again lately. The latest evidence can be found in a new report published by analysts at Realtor.com. It showed an ongoing decline in real estate listings with a price reduction. This suggests that Seattle-area sellers are less inclined to reduce their asking prices compared to a year ago.
Mortgage rates have risen recently, and Seattle home prices have also increased. So now more than ever, Seattle-area home buyers need to be budget-minded and market-savvy. Undoubtedly, higher housing costs make it harder for many people to buy a home. But “hard” does not always mean impossible. You can do several things to save money when buying a home in the Seattle area.
The state of Washington is home to many military members and veterans. This means many residents could benefit from using the VA loan program, which is reserved for this group. As a Washington-based mortgage company specializing in VA loans, we do our best to educate home buyers and mortgage shoppers about this unique loan program. Today, we’ll explore the closing process when using a VA loan to buy a house in Washington.
The population of Idaho has increased significantly over the past few years, and with good reason. The state offers several benefits for those relocating from other parts of the country. It’s arguably one of the best places to buy a home, and here are some reasons why.
Private mortgage insurance can be a confusing subject for first-time home buyers. And a lack of knowledge opens the door to misconceptions and misunderstanding. Today, we will address some of the most common “myths” and misconceptions about private mortgage insurance in the state of Washington.
Are you thinking about buying a home in the Seattle metro area? Is the city of Kirkland, Washington on your short list? If so, you’ve come to the right place. Below, we have created a guide to buying a home in Kirkland that includes everything potential buyer should know.
As we move into 2024, recent forecasts suggest that the Boise area real estate market could become more competitive for buyers.
Home buyers in Washington who purchase a home with a down payment below 20% are often required to obtain private mortgage insurance (PMI). PMI serves as protection for lenders in case borrowers default on their mortgage payments. It’s an industrywide standard. In most cases, PMI premiums get added onto the monthly mortgage payment, along with property taxes and homeowners insurance. So it increases the size of the monthly payments.
When buying a home in the Seattle area, you’ll also want to spend some time researching the surrounding neighborhood and community. After all, when you purchase a house, you’re also buying into the neighborhood. So you want to make sure it’s a good fit for your lifestyle.
Mortgage rates have declined a bit since hitting a 20-year peak back in November 2022. And a recent forecast suggested they might have further to fall, throughout the rest of 2023. Such a trend could help increase affordability for home buyers across the state of Washington. Here’s an analysis of the latest mortgage rate trends and forecasts, and what they might mean for Washington home buyers in 2023.
Today, we’ll approach this subject from a different angle, by explaining what you can do to prepare for closing day when buying a home in WA State.
Today, we will talk about escrow accounts and how they are used when buying a house in Washington. This is an important concept to understand, because it relates to your down payment, closing costs and other purchase-related expenses.
We’ve written about VA loans many times in the past. Along the way, we have touched on some of the benefits this program has to offer for home buyers in Washington. Today, we will take that a step further by compiling all of those benefits onto one page. So, without further ado, here are the five biggest benefits of using a VA loan when buying a house in Washington.
Whether you’re buying a home or ready to refinance, our professionals can help.
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