December 16, 2017

Seattle Real Estate Mortgage Rates Today 5/19/11 + “Tip of the Day”

Seattle Real Estate Mortgage Rates Today 5/19/11 + “Tip of the Day”: Bond markets trying to stabilize after yesterdays market sell off.  Today rates are holding after a better than expected Initial Jobless Claims Report.  Existing home sales fell month over month attributed by more foreclosures and short sales, BUT keep in mind this is the national average.  The local market here in Seattle / Eastside are seeing much different results.

“Tip of the Day” Today we compare FHA vs. Conventional Loans.  Has FHA become to expensive?  In some cases yes, when considering the cost of Mortgage Insurance and the Funding Fee’s of FHA it does drive the monthly payment up higher than a conventional loan.  What is the difference?  There are many factors to consider, the basics in comparison are Credit Score & Down Payment.  FHA loans require a minimum 3.5% down payment over a Convenational loan of 5%.  In today’s video we break down in more detail how the monthly payment is impacted by both types of loans.

Without being misunderstood in todays video.  We are not saying that an FHA loan is bad or too expensive, what we are saying that based on the individuals finances it would be very strategic to explore the options between both loans.  In the end result it could save you MONEY every month.  That is the goal right?  We are on the same page as you which is why we believe in educating everyone.

Timing is everything just as location of the home is critical. Timing in securing an interest rate, BEST rate, is working with a mortgage professional who has their pulse on the market and when best to advise and educate their clients when timing is right. Along with this key knowledge is to be on top of all of the lending and underwriting changes which seem to almost happen daily. We at the Mortgage Reel are Licensed Washington Loan Originators, serving clients with transparency, knowledge and most importantly keeping your goals in mind. How can we assist you today?

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