Lakewood (Tacoma, WA)
By Kevin Tinsley, Washington State Tacoma Seattle VA Home Loans
(VAHomeLoans.com)
Conventional Loans  The Homeowner's Protection Act (HPA) of 1998   What Loans Are Covered?  Generally, the HPA applies to residential mortgage transactions obtained on or after July 29, 1999, but it also has requirements for loans obtained before that date. This new law does not cover VA and FHA government-guaranteed loans. - see below  How Do You Cancel or Terminate PMI? Cancellation Under HPA, you have the right to request cancellation of PMI when you pay down your mortgage to the point that it equals 80 percent of the original purchase price or appraised value of your home at the time the loan was obtained, whichever is less. You also need a good payment history, meaning that you have not been 30 days late with your mortgage payment within a year of your request, or 60 days late with...
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By Kevin Tinsley, Washington State Tacoma Seattle VA Home Loans
(VAHomeLoans.com)
Paying attention to your credit score today can save you thousand of dollars on your next mortgage transaction.  Fannie Mae recently updated their Loan Level Price Adjustments (used to determine the final mortgage rate) and increased mortgage costs for most borrowers. How to read this chart? Step 1 What is your middle credit score?  If you are married or applying jointly with another party, what is the lowest of the two middle scores? Step 2 What is the loan to value ratio?  Are you putting down 5%, 10% or 20% down?  ex. 5% down would put you in the 90.01-95.00 bracket Step 3 Is the additional fee you pay when pricing out a mortgage today. * It gets even more expensive, when you do a cash out refinance, buy a multifamily or investment property. As you can see the difference between 1 cr...
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By Kevin Tinsley, Washington State Tacoma Seattle VA Home Loans
(VAHomeLoans.com)
FHA insured mortgages offer many benefits and protections that only come with FHA: Easier to Qualify: Because FHA insures your mortgage, lenders may be more willing to give you loan terms that make it easier for you to qualify. Less than Perfect Credit: You don't have to have a perfect credit score to get an FHA mortgage. In fact, even if you have had credit problems, such as a bankruptcy, it's easier for you to qualify for an FHA loan than a conventional loan. Low Down Payment: FHA loans have a low 3.5% downpayment and that money can come from a family member, employer or charitable organization as a gift. Other loan programs don't allow this. Costs Less: FHA loans have competitive interest rates because the Federal government insures the loans. Always compare an FHA loan with other lo...
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By Kevin Tinsley, Washington State Tacoma Seattle VA Home Loans
(VAHomeLoans.com)
Why use an FHA Home Loan in Tacoma?  Since 1934, FHA has served as an economic backstop working hand-in-hand with lenders to provide consumers with access to safe and affordable loans, even during times of tremendous market volatility as with the current subprime situation.  Developing closer ties to the lender community will allow FHA to broaden its appeal. But there are specific business reasons for lenders to work closely with FHA. Because our products offer less risk for you -- as well as fast closings, competitive rates and foreclosure protections for your clients -- you can qualify more business and improve your bottom line. FHA's positives include: No minimum credit score. Non-traditional credit is acceptable. Low 3.5% downpayment. Non-occupant, co-borrower is permitted. Expanded...
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By Kevin Tinsley, Washington State Tacoma Seattle VA Home Loans
(VAHomeLoans.com)
With another round of buying by the Federal Reserve, mortgage rates dropped back to early January levels.  This has created an opportunity for homeowners to refinance their mortgages into record low interest rates in the mid 4's.  All Tech Mortgage beats the National Average in Mortgage Rates Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dropped to 4.98 percent this week.  All Tech Mortgage is quoting rates as low as 4.50% 4.610 apr with 720+ Fico scores and under 75% LTV.  We are also seeing a lot of people switch to a 15 year loans, especially those that might have refinance in the early 2000's.  All Tech Mortgage Inc. is your gateway to great mortgage products from Washington State's top mortgage lenders. We shop, compare rates & ...
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By Kevin Tinsley, Washington State Tacoma Seattle VA Home Loans
(VAHomeLoans.com)
Benefiting from the Federal Reserves program to purchase mortgage backed securities, mortgage applications surged last week.  "The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended November 28 soared a record 112.1 percent to 857.7, the highest reading since the week ended March 21 when it reached 965.9." It's great to see home buyers starting to come off the sidelines and inquire about mortgage rates for purchasing and refinancing.   "Interest rates are at their lowest level since the week ended June 24, 2005, when they reached the same level. Interest rates are sharply below the peak of 6.59 percent reached during the summer, but only slightly below the 2008 low of 5.49 percen...
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FOR IMMEDIATE RELEASEAugust 31, 2007SEATTLE, WA. - Washington State based nwRealty.Net, Inc. today announced the addition of Northwest Properties Agency, Inc. to its network of real estate brokers, agents and affiliates.  The internet marketing for Northwest Properties Agency and the "Promotional Spotlight" of their listings and services is now fully integrated with over 64,000 NWMLS-IDX listings on www.nwrealty.com giving them the competitive advantage of reaching an additional 365,000 real estate buyers and sellers specifically looking for real estate in and around Tacoma, Washington.About Northwest Properties Agency, Inc.Located in Lakewood and founded in 1960 as a business dedicated to providing honest and ethical real estate services. This philosophy is still the cornerstone of the...
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Tacoma, WA Real Estate Professionals