Joe LaVallie's (joelava) Blog

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Mortgage and Lending - HomeStreet Bank
RECENT BLOG POSTS
What are conforming loans and why does it matter? Loans that conform to the guidelines that Fannie and Freddie established, are call conforming loans. The main traits that must be satisfied are: Loan size, credit requirements, and loan to value requirements. If you are purchasing a home you would...
10/03/2012
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Do you want to fix your fix her up her? FHA 203K to the rescue. The FHA 203k is an all in one construction loan. Take your mortgage along with your home repair costs and the 203k might be your answer. With this loan the repairs can be made after you buy the house or use this program for your exis...
10/02/2012
Is HARP: Home Affordable Refinance Program for you? This program is designed to help underwater homeowner refinance when they typically couldn't qualify to refinance. If you have no equity and your loan is owned by Fannie Mae or Freddie Mac and your loan was originated prior to June 1st 2009 then...
10/01/2012
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Welcome to the ABC's of APR. The propose of the annual percentage rate is to help borrower shop for mortgages. It does not work for most people and you should not use APR rates to shop for mortgages. DO NOT USE APR RATES FOR SHOPPING FOR MORTGAGES. Is everyone with me? The APR rate is one of the ...
09/27/2012
The same old supply and demand equal higher prices is very true for new homes. The best deal that you will find in the foreseeable future may be the house you find today. Mortgage rates are lower than low and new home prices have not responded YET. The July housing starts were a little over 500k....
09/26/2012
Is the housing market improving to much? Are first time home-buyers going to get priced out of the market? The "Improving Market Index" is published. This report identifies markets that are improving based on economic growth. This survey looks for local economic growth. If there is growth then it...
09/25/2012
Shopping for a mortgage without killing your credit score is actually easy. Inquiries on your credit have a small impact relative to the overall credit score. The most important factor in your credit score is your payment history. The most basic factor in your credit is how you have paid your bil...
09/24/2012
Has the Seattle market hit bottom? Has your market hit bottom? According to multiple surveys, during the first part of the year single family home prices increased in 150 metropolitan housing markets compared to the first quarter of the previous year. Additionally, many forecasting models predict...
09/19/2012
Why should you follow builder predictions in Seattle or your local market? Because they are usually more accurate than other predictors. In the past, builders have been very good at predicting the number of future sales. If we see a rise in the confidence level of builders; that is usually a sign...
09/18/2012
What do preliminary title reports in Seattle include and should I pay attention to it? Yes you should! Your report will contain the following information: The names of the buyers and sellers, what coverage will be issued, the "official" legal description of the property, existing loans, judgments...
09/17/2012
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Joe LaVallie

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