Tag Archives: mortgage lenders

HomePath Mortgage Financing available through Whatcom County banks

pic-8747I’ve recently received word that some of our local Pacific Northwest mortgage lenders are a part of Fannie Mae’s HomePath Mortgage Financing program. If you’re the market for a great deal on a Pacific Northwest home purchase, this program might be for you.

About the HomePath Mortgage Financing Program:

Here is the basic information (please contact me for further details)…

Fannie Mae works with its lending partners to help homeowners avoid foreclosure; however, sometimes it is unavoidable. When foreclosures occur on mortgages in which Fannie Mae is the investor, it is their goal is to sell properties as soon as possible in order to minimize the impact on the local community. The HomePath Mortgage from Fannie Mae eases financing requirements to help facilitate a sale and protect home prices.

Benefits of using the HomePath program to purchase your next Pacific Northwest home:

  • Low down payment and flexible terms for fixed-rate or adjustable-rate mortgages
  • Borrowers may qualify even with less-than-perfect credit
  • Available to both owner-occupiers and investors
  • Down payment (at least 3% – primary residence, 10% – second home, 15% – investment) can be funded by borrower’s savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer
  • No mortgage insurance
  • No appraisal

Limited Time Closing Cost Assistance

Fannie Mae is offering a 3.5% incentive* for buyers who purchase and close on a Fannie Mae-owned home between January 28 and April 30, 2010. Buyers who purchase eligible properties that are closed within this period may receive up to 3.5% of the final sales price for:

  • Closing costs;
  • The purchase of new Whirlpool® appliances by Fannie Mae; or
  • A mix of closing costs and appliances, at the buyer’s discretion, up to the maximum 3.5%*.

To be eligible for closing cost incentives:

  • Offers must be accepted on or after January 28, 2010
  • Property sales must close before May 1, 2010
  • Buyers must be owner-occupants — investors are excluded from the 3.5% incentive

*Some limitations on the use of the 3.5% incentive may apply so buyers should consult their loan officer for guidance.

To find a Pacific Northwest home that qualifies for the Fannie Mae HomePath program and closing cost incentives, please give me a call! An expert Pacific Northwest Real Estate agent, I can help you find an affordable home in Whatcom, Skagit, Island, or San Juan County!

Buying Your First Pacific Northwest Home: A Great Opportunity, a Great Responsibility

SAL_KingMountainhouseIf you’re like many Americans, buying a gorgeous Pacific Northwest home of your own is an important value and a longtime goal.

For many of us who love living in Northwest Washington, home ownership is much more than just an investment, it’s a sense of belonging. Recent changes in the housing market mean lots of opportunities for new homebuyers, but changes in the lending industry mean you must educate yourself and have your financial affairs in order if you want to purchase a home.

Visions of coming home each day to your own Pacific Northwest home have “The American Dream” written all over them – but how do you properly prepare for such an important step?

I’ll go into further details on first-time home ownership in future posts, but for now, here are some helpful tips to prepare you for this monumental decision:

1. Educate yourself about the home-buying process by attending a first-time home buyer’s class, doing research online or at the library, and talking with trusted friends or family members about their own home-buying experience. Even better, contact me for a Free Pacific Northwest Home-Buying Guide.

First-time home buyers are frequently surprised at how many steps are involved in buying a home, and how complicated it can be at times. Having a basic knowledge of the process will help you feel more at ease during the entire transaction, and knowing what to look out for will help you make wiser choices along the way. Having an expert Pacific Northwest realtor help you from the very beginning will also make a huge difference in your home-buying experience.

2. Get a clear picture of your finances by putting together an accurate list of income, expenses, debt, and monthly payments.

For some of us, this can be a daunting task. It’s not always easy to honestly assess where we’re at financially, especially if our financial decisions didn’t always reflect our long-term goal of home ownership. Take a deep breath, and dive on in – the first step toward healthier spending and saving habits is taking a good hard look at where you’re at now.

3. Find a local lender you feel comfortable with and get pre-approved for a home loan.

Ask around – whether people have had wonderful or poor experiences with a lender, they will have no problem sharing their impressions with you of Pacific Northwest lenders. In general, look for a loan officer who is willing to explain the fine print to you, who will take time to make sure you understand what you’re signing. A good mortgage lender should look at your financial status, using that information to help you establish a comfortable monthly payment amount, choose financing options that best fit your needs, and address any debt or savings issues that need to be resolved.

4.  If you haven’t already, select a trustworthy Pacific Northwest Realtor to help you find a home that’s right for you. (Hint: visit www.LiveInThePacificNorthwest.com!)

This is where I come in. Dedicated and personally invested in each one of my clients, I am committed to helping homebuyers get the best Northwest Washington homes they can, at a price that helps protect their future livelihood. An expert on Pacific Northwest real estate, I love answering questions about everything from the home-buying process to finding good neighborhoods in Whatcom, Skagit, Island, and San Juan Counties. I even offer a no-hassle free Pacific Northwest MLS home search.

Contact me today to find out how my team and I can help transform your dreams of owning a beautiful Pacific Northwest home into a reality!