How has home affordability changed over the years?

Although the prices of homes have risen, the ability to afford a home has improved.  See the chart below for detailed explanation. Wow, the payment to finance a median priced home is nearly unchanged from over 30 years ago:      This comparison is all the more dramatic when you realize that $921 was a much larger [...]

2014-05-30T20:11:23+00:00 Categories: Mortgage|

Is HARP 3.0 coming in 2014?

Are you one of the many homeowners’ in Washington State who have been unable to benefit from the government’s “Home Affordable Refinance Program” or “HARP”? That might be about to change.   Congress recently confirmed Mel Watt as the new Director of the Federal Housing Finance Agency (FHFA) which controls Fannie Mae and Freddie Mac. [...]

Is now a good time to buy a bigger house?

Over the past couple of years many of our clients have decided to move up to accommodate their growing families.  Recently, the benefit for homeowners has been rising values and shrinking loan balances. Together, these factors have created new possibilities for many to sell with a surplus.  You may be wondering, is now a good [...]

2016-11-08T19:02:07+00:00 Categories: Mortgage|

How long is a pre-approval valid for & more

It's always been a good idea to get pre-approved for your mortgage loan, but lately, it's become even more important.     Why should I be pre-approved for a mortgage loan? In recent years, mortgage guidelines have been tightened. Documentation requirements have been expanded and followed more closely. A pre-approval gets you through the process [...]

2016-11-08T19:02:09+00:00 Categories: Home Loans, Mortgage|
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