When you are looking for a mortgage in the I know that you are looking to be treated with respect, to be treated fairly, and to have time spent making sure the mortgage you end up with is the right one for your situation.
Respect: I understand unemployment, lowered housing values, and increasing costs of living are pressuring everyone. Mortgages are harder to do and lenders are being far pickier. Even FHA mortgages which used to be for the ‘average American' tightened guidelines and have had average credit scores of approved mortgages rise from 626 in February 2008 to 678 in March 2009. This market is getting tough for all of us around Lynnwood, Edmonds, and Shoreline, Washington. Many lenders no longer even accept FHA applicants below a 640 credit score! Even if I can't help you I will let ou know what can be done so that you can qualify in the future.
I understand that you are looking for direct, honest answers on your mortgage situation and that is why I prefer to work face-to-face on your mortgageto let you know what options are available. Every question you ask is important to me. If you already knew the 1126 page Fannie Mae mortgage underwriting guide and miscellaneous letters and interpretations AND lender guidelines you wouldn't be contacting me. In the last eight years I have handled a lot of different situations.
Fairness: Fortunately, the Federal Reserve is temporarily lowering mortgage rates by buying mortgages from Fannie Mae and Freddie Mac. This is allowing homeowners in Lynnwood, Edmonds, Shoreline, Washington to refinance or purchase homes at historic low mortgage rates and payments. This subsidy of mortgage rates started on March 18th 2009 and drastically dropped rates January - May 2009. It is scheduled to end in early 2010 and mortgage rates are steadily climbing up towards a non-subsidized price as the program winds down to a close.
In fairness, I am letting you know that interest rates are rising and have been slowly rising over the past year. Also in fairness, rates are still pretty amazing and we will work diligently to get you an amazing rate! In absolute fairness and honesty, here is a 30 year fixed mortgage rate and cost analyzer that will translate how your risk factors convert wholesale costs into rates and costs for your situation. For those of you buying it alo lets you analyze mortgage loan limits by zip code when purchasing in Lynnwood, Edmonds, and Shoreline, or throughout Washington. You can even email me YOUR analyzer results with questions!
The right mortgage: The right mortgage isn't a myth or an offer that typically is outdated by the time you read it. The right mortgage is picking in real time amongst available mortgages to understand how rates and costs impact your payment and picking the one that best matches your overall debt, income, and future goals to live here in Lynnwood, Edmonds, and Shoreline, Washington.. Maybe your income isn't the most stable so a larger rate discount to be able to save money is more appropriate. Maybe you plan on paying the mortgage off shortly so lower closing costs and higher payments are overall more advantageous. Not only do we work with the right mortgage for you in mind, you can read about the tools we provide to look at mortgages in depth or dive right into our 30 year fixed mortgage rate and cost analyzer or click the calculator below.
Indeed, the best bet for Washington homeowners is to find a reliable and successful mortgage company who is able to tackle their purchase or refinance mortgage head on and with experience, dedication, and in state service and amazing in person communication in Lynnwood, Edmonds, and Shoreline, and throughout Washington.. As such a mortgage company we are 100% upfront and open with their pricing and analyze every single mortgage given to make sure they best fit your goals! You want your house in good hands!
Even if my analyzer doesn't clearly match you to an excellent Fannie Mae mortgage doesn't mean that I can't help you through other mortgage types or methods. At worst, you can add notes and then submit your scenario to me to look at and get back to you with accurate information. So if you are local to Lynnwood, Edmonds, and Shoreline, Washington try it out and then stop by and meet with us!
Your Lynnwood, Edmonds, and Shoreline home is in good hands with us!
We understand the frustration and confusion typically associated with picking the most beneficial mortgage out of a series of outdated and inaccurate estimates from people you can't sit down with to ask questions or meet. By sitting down locally with me you can meet the people you are entrusting with your mortgage and see how we genuinely want to help you!
For questions about your mortgage stop by my office in Edmonds if possible! You can also contact me via my mortgage rate and cost analyzer for mortgage scenarios, or via my contact information below. To learn a little more about me the profile for Stephen Ching is here.
Stephen Ching, Loan Originator 510 LO 35993
Office(425) 640 9789 or via web at http://seattle.rateswire.com
Cell (425) 344 2191
Mortgage Mortgage Center, LLC
22019 Hwy 99 #B
Edmonds WA 98026
License # 510-MB-20022
Mortgage seekers around Bothell, Woodinville, and Kirkland, Washington are all greatly benefiting from low mortgage rates. As your local mortgage broker, The Mortgage Loan Center, LLC., we are happy to announce we have been working locally for the last ten years to provide excellent mortgage rates and service to all local areas!
We are a local mortgage broker located in Edmonds, a short drive from Bothell, Woodinville, or Kirkland, Washington. Stephen Ching (www.seattle.rateswire.com) is happy to present you with free online access without registration to mortgage pricing, analysis, news, and information prior to meeting you in person to answer your questions. Your house is in good open and honest hands with us!
A March report from the U.S. Treasury Department shows that 4-5 million homeowners who previously could not refinance due to low equity can now do so under the Making Home Affordable Refinance program! This has recently been expanded to even more homeowners with first mortgages owned by Fannie Mae or Freddie Mac even if they owe up to 125% of their house value on their first mortgage! This program is critical and becomes even more important as house values keep falling in Bothell, Woodinville, and Kirkland, Washington!
With an excellent Making Home Affordable or other refinance, thousands of Washington homeowners will keep their homes, sleep better at night, and have a solid financial future.
A Mortgage Refinance can be used to:
•· Lower monthly payments
•· Lower interest rate
•· Swap a rising adjustable rate for an affordable fixed rate
•· Provide cash to pay off debts and lower overall monthly expenses
•· Adjust the length of the mortgage terms
•· Provide cash to pay for home improvements or other investments to your home in Bothell, Woodinville, and Kirkland, Washington.
Mortgage rates are rising as we near the end of the Federal Reserve's mortgage rate subsidy. Right now rates are low because they are spending billions of dollars buying loans from Fannie Mae and Freddie Mac. This subisdy ends in March 2010 and rates will likely continue to climb as the subsidy ends. Unemployment and layoffs can hit anyone so if you can refinance and get a great deal now...by all means do not straddle a rising fence!
As an upfront and open mortgage company you have free unregistered access to my Fannie Mae 30 Year Fixed Mortgage rates and cost analyzer so you can immediately see what benefits and payments you can expect from a refinance or purchase mortgage. This lets you explore options available and how much money and pain you can save by getting off the fence! It even recognizes jumbo loan limits and most Making Home Affordable refinances by zip code for Bothell, Woodinville, and Kirkland, Washington!
Even if my analyzer doesn't match you to an excellent Fannie Mae mortgage because your situation is complex doesn't mean that I can't help you through other mortgage types or methods. At worst, you can add notes and then submit your scenario to me to look at and get back to you with accurate information. Since we are just around the corner we can even go over the notes in person in Bothell, Woodinville, and Kirkland, Washington.
The best time to qualify for a money saving mortgage refinance is well before you need the savings. Unfortunately, unemployment and cutbacks are no longer a "risk" but a reality faced by many here in Bothell, Woodinville, and Kirkland, Washington. It is at the time of greatest need during unemployment that savings to live on become invaluable. Sadly, obtaining a money saving refinance after you are already unemployed is normally impossible. A mortgage modification may help you avoid foreclosure, but it won't save your credit.
We understand the frustration and confusion typically associated with picking the most beneficial mortgage out of a series of outdated and inaccurate estimates from people you can't sit down with to ask questions or meet. By sitting down locally with us in our office or around Bothell, Woodinville, and Kirkland, Washington you can meet the people you are entrusting with your mortgage with and see our tools and heart to help you find a great mortgage.
For questions about your mortgage stop by my office in Edmonds if possible! You can also contact me via my mortgage rate and cost analyzer for mortgage scenarios, or via my contact information below. To learn a little more about me the profile for Stephen Ching is here.
Stephen Ching, Loan Originator 510 LO 35993
Office(425) 640 9789 or via web at http://seattle.rateswire.com
Cell (425) 344 2191
Mortgage Mortgage Center, LLC
22019 Hwy 99 #B
Edmonds WA 98026
License # 510-MB-20022
This article gives conforming and jumbo loan amounts for Lynnwood, Bothell, Edmonds, and Washington as of October 14, 2009. These limits do change annually and the next major change is the expiration of temporary 2009 jumbo limits at the end of this year.
I have built a calculator that analyzes your situation and lets you know the loan amount, loan to value, and conforming loan
limit, temporary 2009 jumbo loan limit, and normal jumbo limits for your scenario at http://seattle.rateswire.com/calculator. You can read about my calculator here. It may save you a bundle!
The Office of Federal Housing Enterprise Oversight, (OFHEO) sets guidelines for conforming and conforming jumbo loan limits across Washington State and the nation through control of Fannie Mae and Freddie Mac who guarantee or own over half the home loans in the United States.
There are currently three different sets of conforming loan amounts. The traditional and best known is the traditional limit of $417,000 which has been in place for years. This is called the conventional conforming loan limit for a single family residence. This limit produces the "safest" loans and is highly sought after by AAA lenders. This limit increases for multifamily units as per the table below:
# of Units Traditional Conforming Loan Limit / Max Conforming Loan Amount
1 $417,000
2 $533,850
3 $645,300
4 $801,950
The next largest limits are the Super Conforming loan limits. These limits were put in place by the Housing and Economic Recovery Act of 2008 (HERA). One set of limits apply only to King, Snohomish, and Pierce counties, and different set applies to San Juan County. These loans are known as jumbo loans to most people or Super Conforming loans to those in the mortgage industry.
Number of Units King County & Seattle, Snohomish County, Pierce County Superconforming Jumbo Limit / Jumbo Loan Amount
1 $506,000
2 $647,750
3 $783,000
4 $973,100
Number of Units San Juan County Superconforming Jumbo Conforming Limit / Jumbo Loan Amount
1 $483,000
2 $618,300
3 $747,400
4 $928,850
The last and largest limits are Temporary Super Conforming loan limits set in place by the American Recovery and Reinvestment Act of 2009 (ARRA). These limits expire at the end of 2009. These loans are known as jumbo loans to most people or Conforming Plus Temporary Limit Loans to those in the mortgage industry. These are presented below:
| County |
|
|
1 Unit |
2 Unit |
3 Unit |
4 Unit |
| Clark County* |
|
|
$418,750 |
$536,050 |
$648,000 |
$805,300 |
| Jefferson County |
|
|
$437,500 |
$560,050 |
$677,000 |
$841,350 |
| King County & Seattle |
|
|
$567,500 |
$726,500 |
$878,150 |
$1,091,350 |
| Kitsap County |
|
|
$475,000 |
$608,100 |
$735,050 |
$913,450 |
| Pierce County |
|
|
$567,500 |
$726,500 |
$878,150 |
$1,091,350 |
| San Juan County |
|
|
$593,750 |
$760,100 |
$918,800 |
$1,141,850 |
| Skamania County* |
|
|
$418,750 |
$536,050 |
$648,000 |
$805,300 |
| Snohomish County |
|
|
$567,500 |
$726,500 |
$878,150 |
$1,091,350 |
Please note that Clark County and Skamania County have a minimal increase in loan amount between Traditional and Temporary Jumbo Loan Limits. This means that it is almost always better and more affordable to obtain a traditional conforming loan in these counties.
The advantage of obtaining a conventional conforming or jumbo conforming loan is that these loans are produced in bulk and packaged and sold off in bulk. This is efficient economically and reduces the overall cost of loan production.
To compare rates and costs for conforming loan limits, superconforming jumbo loan limits, and temporary 2009 jumbo loan limits please use my loan analyzer/calculator at http://seattle.rateswire.com. It never hurts to see by how much you can fatten that piggy bank with savings!
For questions about your mortgage stop by my office in Edmonds if possible! You can also contact me via my mortgage rate and cost analyzer for mortgage scenarios, or via my contact information below. To learn a little more about me the profile for Stephen Ching is here.
Stephen Ching, Loan Originator 510 LO 35993
Office(425) 640 9789 or via web at http://seattle.rateswire.com
Cell (425) 344 2191
Mortgage Mortgage Center, LLC
22019 Hwy 99 #B
Edmonds WA 98026
License # 510-MB-20022
When looking for mortgage rates and costs in the Seattle Area (Everett, Lynnwood, Edmonds, Seattle, Bothell, and Bellevue) or throughout Washington State you want actual real time interest rates. You want to know what rates and costs are relevant to your goals. You do not want fill in a form to be contacted for rates that are out of date by the time they reach you.
I have converted my pricing engine I use privately into a simple web calculator where you will be able to price and find rates on 30 Year Fixed Fannie Mae conventional conforming mortgages. This calculator takes into account virtually all factors affecting mortgage rates and costs
such as credit scores, loan to values, or loan purchase, etc.
The pricing engine is now availble to the public at http://seattle.rateswire.com/calculator. The analyzer looks at different purchase, rate and term, and cash-out scenarios and shows closing costs and rates that correspond to each scenario. Streamlines of existing Fannie Mae loans with Making Home Affordable up to 105% can also be priced.
This is NOT a calculator where you put in a rate, balance, and out spits a payment. This is an analyzer that looks at your situation and prices out different mortgage rates based on your scenario. So if you are wondering about how downpayment, credit, or the amount of cash-out you pull out affects a mortgage rate or cost, then this is the site for you!
The analyzer will also total interest and closing costs paid over a period of time you specify for the mortgage rate you want to look at. This lets you match a plan to your goals! Mortgage rate pricing should be transparent so you can actually pick and find the best loan for what you are looking to accomplish. Here is my best foot forward to join yours!
If you are in the local Seattle and surrounding areas of Everett, Lynnwood, Edmonds, Seattle, Bothell, and Bellevue I look forward to meeting you in person!
For questions about mortgage rates and costs for you stop by my office in Edmonds if possible! You can also contact me via my mortgage rate and cost analyzer for mortgage scenarios, or via my contact information below. To learn a little more about me the profile for Stephen Ching is here.
Stephen Ching, Loan Originator 510 LO 35993
Office(425) 640 9789 or via web at http://seattle.rateswire.com
Cell (425) 344 2191
Mortgage Mortgage Center, LLC
22019 Hwy 99 #B
Edmonds WA 98026
License # 510-MB-20022
It has always been my goal since starting in the mortgage industry years ago to be able to provide mortgage rate and costs upfront in a way that you can interact and understand. Through much effort I am pleased to share my mortgage rate and cost analyzer with Washington state and my neighbors in Everett, Lynnwood, Edmonds, Seattle, Bothell, and Bellevue.
My mortgage rate analyzer looks at your situation and first checks to see if the loan meets standard Fannie Mae and lender mortgage guidelines. The analyzer looks at different purchase, rate and term, and cash-out scenarios and shows closing costs and mortgage rates that correspond to each scenario. Streamlines of Fannie Mae loans are recognized.
This is NOT your grandmother's ordinary calculator where you put in a mortgage rate, term, and loan amount and it calculates payment! If you are worried about how your downpayment, credit, and occupancy affect mortgage rates and payments this is the calculator for you!
I know a lot of people are looking for that 'lowest mortgage rate' while others are looking for 'lowest costs'. Others simply want to know if their loan to value or credit qualify. This lets everyone know what options are available:
Of course, the wisest loan shoppers are looking for someone who is upfront and honest and has the tools necessary to help guide them to the best loan for their exact situation. That is exactly what I am offering and why I included an analysis tool that looks at a given option in great detail as below.
I will be updating rates daily. These rates are for Washington State only.
At this time, the mortgage rate analzyer is available for 30 year fixed mortgages only. To use my rate analyzer click http://seattle.rateswire.com/calculator.
I was inspired by all the amazing websites real estate agents have where buyers can browse houses and print off what they would like to see in advance to meeting with an agent. Why should mortgages be any different or mysterious? So here is my best foot forward to join yours!
I am a loan originator servicing Seattle, Lynnwood, Edmonds, Bothell, Everett, and Bellevue, in person and the rest of Washington State as well!
For questions about mortgage rates and costs for you stop by my office in Edmonds if possible! You can also contact me via my mortgage rate and cost analyzer for mortgage scenarios, or via my contact information below. To learn a little more about me the profile for Stephen Ching is here.
Stephen Ching, Loan Originator 510 LO 35993
Office(425) 640 9789 or via web at http://seattle.rateswire.com
Cell (425) 344 2191
Mortgage Mortgage Center, LLC
22019 Hwy 99 #B
Edmonds WA 98026
License # 510-MB-20022
I specialize in rapidly closing refinances with same day or next day approval and rate locks. This keeps costs down and the process simple. I have closed loans in Washington for the last eight years.
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