Are you shopping for a Home? It may seem backwards to shop for a mortgage before you shop for the house, but there are several reasons for doing this. Shopping for a mortgage will also help if you can get â€œpre-approvedâ€ for the amount youâ€™d like to borrow. This means the lender has looked over your credit and financial statement and agreed to lend you the money. Sellers like pre-approved buyers because thereâ€™s less risk the deal wonâ€™t go through. First, youâ€™ll find out how much you can borrow, which has a lot to do with how much house you can buy.
Whether youâ€™re, buying, building or Re-Financing your dream home, you have a lot riding on your decision. Market conditions and mortgage programs change frequently, and I welcome the opportunity to serve your needs with quick and accurate real estate financing advice. I have the expertise and knowledge to help you determine the absolute best loan program to meet your objectives. Get my Top 25 Questions for FREE that you should be asking your lender before you choose them to secure a mortgage along with a FREE copy of The 8 Deadly mistakes to avoid when buying a Home. If you are already working with a lender, donâ€™t be shy to give me call so I can price the same mortgage for you with less cost. What do you have to loose but your money?
Ensuring that you make the right choice for you and your family is my ultimate goal. I am committed to providing my customers with mortgage services that exceed their expectations.. As always, you may contact me anytime by phone, fax or email for personalized service and receive expert advice from an FDIC member Bank Mortgage Banker who is responsible for the decisions on all mortgages coupled with over 17 years of experience in the industry.
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As others have noted in thier responses, the VA has a zero down option if you have eligibility. Depending on where you want to live, USDA loans also have a zero down option for purchasing a home.
Alternatively, you can utilize the FHA and a family member can gift the entire 3.5% minimum down payment.
In Washington, you may also qualify for the Washington State Housing Financing Commissions Home Advantage program for home buyers. This program allows silent 2nd mortgage to cover the cost of your down payment up to $10K.
I hope this is helpful, if you have more questions please feel free to contact me directly.
1. USDA is only in the more rural areas, so you would be needing to look a fair distance outside of Seattle to have that be an option. Also, USDA loans tend to take longer, so you'd probably have little chance of getting a USDA offer accepted in an area with a hot market (areas closer to Seattle proper).
2. The state programs for buyer assistance tend to involve a second position deed of trust. That may involve more legal exposure than transactions involving a single deed of trust, because the non-judicial foreclosure of a first deed of trust will not discharge the amount owing a second position deed of trust unless the property sells for more than the amount owing on both (unlikely).
3. VA is probably the best of the low down options, particularly for disabled vets, but you need to be a vet to qualify.
4. And don't forget, FHA is only 3.5%, and the seller can help with other closing costs above that amount.
USDA loans are zero down along with a few state sponsered programs; there are options to buy without a down payment.
Please contact me directly for more details 206-.501-7837 phoebe@SheSellsSeattle.com; you can find all available properties for sale in the Seattle area at http://www.SheSellsSeattle.com
Don't hesitae to call me with any real estate questions; I am never too busy to help!