Seattle home buyers and owners looking to finance with FHA need to consider some of the new guideline changes. Here are a few changes to consider, credit score requirements, down payment increase, income qualifications.
How much should Seattle homeowners pay for a low mortgage rate?
Seattle Mortgage Reel provides a easy to understand presentation on how to maximize home owners closing costs to secure the best rate on a 30 year fixed conventional mortgage.
No Down Payment Options May Be Available For Your Next Home Purchase
USDA home loans are 100% financed back by the Government. Under the terms, the borrower may borrow up to 100% of the appraised value of the home, which can possibly eliminate the need for a down payment.
Homeowner Tax Breaks
As a home owner understanding the tax benefits is huge. Deducting points paid, interest paid, and property tax can benefit you.
Manage your credit
Reviewing your credit score every 12 months is a great idea. If you find errors contact the 3 credit bureaus immediately, Experian, Transunion, and Equifax.
Your Realistic Purchase Power
Calculating how much you can afford is important. You want to stay within your qualifying limits to prevent over extending yourself financially.
How much can you afford?
Simple understanding to calculate your buying power.