New Appraisal Rule

As of May 1^st 2009, appraisals have to be ordered directly through the lender, we as a broker cannot order the appraisal on the brokers name any longer. (More ...)

Updated on Saturday, May 30 2009 04:23 PM PDT

Interest Only Bye-Bye

Interest Only product has been removed by the Conforming (Loan Amount < 417k) and Super conforming category (Loan Amount > 417k and <506K for WA King County). (More ...)

Updated on Monday, May 04 2009 01:20 PM PDT

Mortgage Insurance Update:

For Refinance/Cash-Out... No cash out will be allowed for loans that require mortgage insurance, mortgage insurance is applicable once the loan to value is 80% or more, so if you want to have cash out, you must have below 80% to be able to get cash out from the existing home, based on the mortgage insurance companies new restrictions. (More ...)

Updated on Thursday, Jan 29 2009 03:33 PM PST

New Super Conforming Loans

A new product being introduced to the market is called: Super Conforming Loans.

The new Super Conforming loan limits for 1-Unit properties in most areas is $625,500, however for Washington area these are the limits:

WA Seattle-Tacoma-Bellevue (Metropolitan Area)  Counties of: King, Pierce, Snohomish

1 unit  . (More ...)

Updated on Monday, Nov 17 2008 01:07 AM PST

Less Down, Higher Credit Scores Required

If you buying a home w/little down, you better have a good credit score, otherwise it’s very hard to get loans approved with little down.  If you have a combo loan where u need a second loan, the second loan has implemented higher credit score requirements or if you choose to have all in one loan, and you have less than 20% down, you will have mortgage insurance. (More ...)

Updated on Monday, Jul 14 2008 01:23 PM PDT