condo financing

buying a home, condo financing, condominium speciaist, home financing, home loans, mortgage interest rates, Robin Myers/Condo Specialist

Mortgage Interest Rate Buydowns

If you’re thinking about buying a home, the good news is mortgage interest rates continue to decline. Rates are in the low 6% range compared to over 7% a few months ago. There are ways to lower the mortgage interest rate even more with a temporary or permanent mortgage buydown, but there are pros and cons. […]
appraisals, condo financing, condo resale disclosures, condominiums, Robin Myers/Condo Specialist

Recent Changes to Condo Financing and Appraisal Requirements

Following the 2021 collapse of the Surfside, FL condominium tower, and growing concerns nationwide about aging buildings and potential issues due to deferred maintenance, lenders are now required to perform additional due diligence when approving condo units for conventional loans. Fannie Mae and Freddie Mac have issued new requirements for condo and co-op financing. These […]
Bellevue, condo financing, condominiums, first time buyers, real estate

Affordable Housing in Bellevue?

You might be surprised to find there are many affordable housing options close to downtown Bellevue. Apartments in the city are expensive and it’s likely the rent will increase each time the lease renews. The average monthly rent for a 2 bedroom apartment in downtown Bellevue is $3,250 or more per month (plus utilities). That’s […]
Bellevue, condo financing, condominiums, Downtown Bellevue, first time buyers, home financing, home property values

Eastside Condo Sales Activity

As was true across the Puget Sound region, the inventory of available houses and condos for sale on the Eastside dropped dramatically in November. the median sales price was $900,000, up 2% over last year 20% of those homes sold above list price 45% of the homes sold in 15 days or less the Eastside […]

buying a home Mortgage Interest Rate Buydowns If you’re thinking about buying a home, the good news is mortgage interest rates continue to decline. Rates are in the low 6% range compared to over 7% a few months ago. There are ways to lower the mortgage interest rate even more with a temporary or permanent mortgage buydown, but there are pros and cons. […]

appraisals Recent Changes to Condo Financing and Appraisal Requirements Following the 2021 collapse of the Surfside, FL condominium tower, and growing concerns nationwide about aging buildings and potential issues due to deferred maintenance, lenders are now required to perform additional due diligence when approving condo units for conventional loans. Fannie Mae and Freddie Mac have issued new requirements for condo and co-op financing. These […]

Bellevue Affordable Housing in Bellevue? You might be surprised to find there are many affordable housing options close to downtown Bellevue. Apartments in the city are expensive and it’s likely the rent will increase each time the lease renews. The average monthly rent for a 2 bedroom apartment in downtown Bellevue is $3,250 or more per month (plus utilities). That’s […]

Bellevue Eastside Condo Sales Activity As was true across the Puget Sound region, the inventory of available houses and condos for sale on the Eastside dropped dramatically in November. the median sales price was $900,000, up 2% over last year 20% of those homes sold above list price 45% of the homes sold in 15 days or less the Eastside […]

condo financing NEW FHA GUIDELINES OPEN OPPORTUNITIES FOR HOME BUYERS Condominiums are an important part of the housing market, especially for first time buyers. Often buyers have the income and credit score needed to purchase a home but lack a substantial down payment which can make entering the housing market prohibitive. In an effort to promote affordable homeownership for credit worthy buyers, the […]

condo financing NEW FHA LOAN GUIDELINES FOR CONDOMINIUMS BENEFIT BUYERS Condominiums are an important part of the housing market for first time buyers. Too often buyers have the income and credit score needed to purchase a home but lack an adequate down payment which can make entering the housing market prohibitive. In an effort to promote affordable and sustainable homeownership, especially among credit-worthy first […]

condo financing Don’t Ignore Condo Resale Disclosure Documents In this fast paced, competitive real estate market, it’s common, in an effort to “win”, for buyers to waive contract conditions such as inspection, financing, appraisal, neighborhood review, etc. Buying a condominium is different than buying a house. With condominiums perhaps the most important contract condition in place to protect a buyer is the […]

condo financing Rising Interest Rates – No Need to Over React The Federal Reserve raised interest rates by 0.25 percent this week, causing concern that increasing mortgage interest rates will follow, which could have a negative impact on the housing market. Its unlikely we'll see any significant increase in mortgage interest rates in the immediate future. Could they rise in the coming months, possibly, but not […]

condo financing Condo Financing and the FHA Condominiums offer a great opportunity for first time buyers to enter homeownership and begin to build wealth, equity and credit. FHA (Federal Housing Administration) loans were a popuilar option for financing as they often offered more favorable interest rates and down payment options than conventional loans. In recent years FHA has placed significant restrictions on […]