leavenworth mortgage: Return of the 80/10/10 - 08/25/13 11:36 AM
When the mortgage meltdown hit, all lenders slashed the available lending products, but now the pendulum is starting to swing back and lenders are opening up again as mortgages are performing well. One recent addition is the 80/10/10 which I haven't seen in a while.  The point is to avoid mortgage insurance or Jumbo rates.
The Buyer gets an 80% first mortgage and a 10% second, and brings in a 10% down payment. The seconds I am seeing can be 15 or 30 year fixed or ARMs.
A perfect scenario in my market of Wenatchee, Chelan, Leavenworth, Winthrop, is a home … (0 comments)

leavenworth mortgage: How Greek pensions affect your house payment - 05/11/10 07:36 PM
Last week's stock market jitters proved once again that the financial markets are not back to normal by any means.  So what is happening to interest rates?  Well, since we are in a global economy, what you pay per month for your house is affected by the government pensions being paid out in Greece.
 The short answer is that when we really are in an economic recovery, mortgage rates will rise; but for the short term, while things are shaky, we have these great low rates, with 30 year mortgages in the 4.75%- 4.875% range.  If someone is on the fence … (3 comments)

leavenworth mortgage: Chelan and Leavenworth Condo Loans - Don't let the financing scare you - 10/09/09 07:54 PM
With some great prices out there right now for vacation condos in Leavenworth and Chelan, a lot of people are entering the market.  With prices coming down, some people ask me if they should wait for them to drop further; I tell them, " When you can buy a condo you like for less than it costs to build, there can never be an oversupply at this price, because if this is the price, no one will build any new ones. So if you didn't catch the absolute bottom of the market, you sure got close"
After you see the great … (2 comments)

leavenworth mortgage: Chelan Land Financing - 02/04/08 05:37 PM
 
  
 
Lot and land sales at Lake Chelan seem to be brisk right now; as I am getting inquiries every week from people wanting to finance a building lot or some land. Most people have not financed land before so I hope to remove some confusion with a little explanation.  This would also apply to people financing Leavenworth land or a building lot in Wenatchee.
The first thing you will find is most lenders don't want to finance land; especially now. Land is harder to liquidate if the bank ends up taking the property back, and the national lenders who are trying to improve … (0 comments)

leavenworth mortgage: Wenatchee Mortgage Market Update - 02/01/08 06:13 PM
In our markets of Wenatchee, Leavenworth and Chelan, we are benefitting from the drop in mortgage rates while not participating in the housing market declines that are hitting some parts of the country. But, as we have local media that just re-prints what the national Press is saying, we have some people sitting on the fence not sure if they should buy right now.  The local mountains,lakes, skiing and sunshine with a close proximity to Seattle keeps a steady flow of second home and retirement buyers coming to Wenatchee, Leavenworth and Chelan. The majority of my business is land and construction … (3 comments)

leavenworth mortgage: Wenatchee Real Estate benefits from Cooling Economy - 01/28/08 03:44 PM
We are very fortunate in the markets of Wenatchee, Leavenworth and Chelan in Eastern Washington. We are able to take advantage of the low mortgage rates driven by the cooling national economy, all without actually having to participate in the cooling economy.  Last week was crazy, and it looks like mortgage rates are poised for another wild ride this week.
Last week they plunged briefly on Tuesday to some recent record lows, then they rose late that afternoon and later in the week were back up to almost the December levels.   Mortgage rates respond to economic news (see below if you want more … (2 comments)

leavenworth mortgage: Current issues in mortgage lending - 03/26/07 04:12 PM
I had the honor of being interviewed by Geordie Romer on his Blog site. You can really tell how much someone knows by the level of questions they ask, and Geordie cetainly impressed me with his interview questions. Check it out here.
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