seattlemorgdev

16
Oct

How to Maintain Your Credit Score While Shopping for Mortgage Rates

Most homebuyers know that shopping around for mortgages is essential to find a competitive mortgage rate. They also know that the higher their credit score, the better the mortgage rate they can receive. Unfortunately, when a buyer applies for multiple home loans, they could be negatively affecting their credit score: A lender will review your credit history with a credit

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9
Oct

How to Get Your Mortgage Approved (and Keep It That Way)

Think you can finally relax after submitting your mortgage application? Don’t be so sure.  A lender will continue evaluating your financial situation until closing day, and certain changes could cause them to deny your application. You can help prevent this from happening by knowing what not to do during the mortgage approval process. Why You Might Lose Your Mortgage Approval

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9
Sep

Guide to Down Payment Gifts

Coming up with a down payment can be challenging, which is why many homebuyers use down payment gifts to make gathering the large sum easier. The most common source for a down payment gift comes from parents or family, and down payment gifts can sometimes be the difference between someone being able to buy a home or not. But using

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2
Jun

Mortgage Options With No (or Low) Down Payments

Most people assume that they need to save a 20% down payment before purchasing a home, but this isn’t true. While putting less than 20% down generally means you’ll have to pay private mortgage insurance (PMI), this isn’t inherently a bad thing. PMI is simply intended to protect the lender in the case of foreclosure. Yet many buyers continue to

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26
Mar

How to Choose the Right Mortgage Broker

What to Consider for Mortgage Brokers A mortgage broker is a crucial resource to help you address all the following elements of a mortgage. As such, choosing the right mortgage broker can make or break your decision on the type of mortgage you will be tied to long-term. When it comes to mortgages, the first question potential home buyers want

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26
Mar

The Difference Between Pre-Approval and Full Credit Approval

Most prospective home buyers know that they should get pre-approved for a mortgage before they start to consider all their home loan options and make an offer. While lenders will often use the terms “pre-approval” and “credit approval” interchangeably, home buyers should know the difference to put themselves in the strongest position possible when it comes time to make an

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26
Mar

Comparing Rent and Mortgage Payments

The decision of whether to rent or buy is more complicated than usual in Seattle, where both home and rent costs have been rising in recent years as the demand for housing continues to outpace supply. The ever-increasing cost of rent prompts many people to consider whether buying might make more sense. Others are put off by the assumption that

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26
Mar

Think You Know How to Find Your Credit Score? Think Again

Most people know that the home price they can afford is dependent on their credit score. But most people don’t realize that multiple credit scores exist, and the one they pull may be quite different from the one the lender uses to calculate the loan amount. Since your credit score determines the loans and the rates you’ll qualify for, knowing

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26
Mar

Why Waiting to Save a 20% Down Payment May Not Be the Right Move

Most first-time home buyers have heard that they can avoid paying mortgage insurance by putting 20% down, and assume that waiting to save this amount before purchasing is best. However, this is not always the case. While not having to pay mortgage insurance is certainly ideal, it often comes at a cost that far outweighs its benefits: Real estate will

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17
Aug

5 Priceless Reasons to Save Up to Buy a Home vs. Renting

Home ownership is usually the biggest financial transaction that a person engages in.  Because of this, there is a tendency to focus on the numbers and the market, overriding the overall and incalculable reasons to buy and own your own home. Here are 5 priceless reasons why the value of owning a home far outweighs the alternative of renting… Create

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