Are you looking to refinance an existing VA mortgage into another VA home loan? If so, you may have a number of questions about how VA to VA mortgages work. Known formerly as “Interest Rate Reduction Refinance Loans,” they are called IRRRLs for short. Let’s go over answers to some frequently asked questions about IRRRLs. […]
Pre-Approval vs. Pre-Qualification: What is the Difference?
An important step in the home buying process is to get pre-approved for a mortgage. But have you ever wondered what the difference is between pre-approval and pre-qualification? In this post, we will consider the similarities and differences between the two and how they relate to each other. Pre-Qualification vs. Pre-Approval: Are They the Same […]
How to Fix Credit Report Errors When Buying a Home
Are you trying to purchase a home or refinance a mortgage? If so, you know that your credit score is one of the main factors that determine what mortgage rates you are eligible for. One important step to take before you apply for a home loan is to check your credit report. Your score is […]
How to Improve Your Chances of Mortgage Approval During Retirement
If you are retired and want to buy a home, you may wonder how retirement impacts your chances of qualifying for a mortgage and what you can do to improve your eligibility. The first thing to know is that under the Equal Credit Opportunity Act, no lender can legally refuse to offer you a mortgage […]
What to Know About Employment Requirements When Applying for a Mortgage
One of the most important factors in qualifying for a mortgage is your employment status. Unless you are retired and no longer need to be in the workforce, a lender is only going to consider offering you a loan if they can trust that you will continue to earn the income necessary over the years […]
4 Reasons to Lock in Fixed Mortgage Rates Now
If you have been thinking about buying a home or refinancing, this is a good time to lock in a fixed mortgage rate for the years ahead. Let’s go over a couple of reasons why. Mortgage rates are still very low. The biggest reason to lock in mortgage rates at the moment is that the […]
Tips for Buying a Home During COVID-19
Shopping for a home and choosing a mortgage in Seattle or elsewhere in Washington state during the coronavirus outbreak is a bit different than the usual process you may be familiar with. Nevertheless, with record low mortgage rates, this is a great time to consider investing in a home. If you do decide to purchase […]
Supporting Seattle and the Northwest
Some helpful links and resources during the coronavirus outbreak. Please let us know if we can be of any assistance during this time, call (206) 352-6453. Ballard Boys & Girls Club https://positiveplace.org/clubs/ballard/ Providing urgent childcare for first responders and parents in need. Ballard Food Bank https://www.ballardfoodbank.org/ University of Washington Medical Center https://online.gifts.washington.edu/peer2peer/Campaign/heroes Donate medical equipment, face masks, […]
How to Finance the Down Payment on a Second Home
If you are thinking about purchasing a second home, you probably already have figured out that doing so makes financial sense overall. But that doesn’t mean that there are not some hurdles to clear, one of which is figuring out how to afford the down payment. If you have not come up with a way […]
How to Minimize Closing Costs
Along with your down payment, interest rates and mortgage premiums, you need to think about the closing costs of your mortgage. The closing costs for mortgage include several different fees, such as: • The loan origination fee • The appraisal fee • The cost to pull your credit report • Discount points • Attorney fees […]
