mortgage: How Much Home Can you Afford? - 11/06/08 04:29 AM
If you are up to a year away from buying a home, now is not the time to be talking to a bank.  Here is my recommendation for what you can be doing right now to put yourself in the best position when the time comes to buy your home.

mortgage: FHA Preapproval and Non FHA Approved Condo Complexes - 10/17/08 11:15 AM
FHA financing used to be only for a select few.  With the recent changes to the mortgage world, FHA has become much more popular and is in fact one of the most attractive financing options currently available when buying a home. 
Under FHA approved loans, you can put as little as 3% down toward a home.  Significantly less than the 5-10% typically needed for a conventional loan.  In addition, the amount that you can negotiate a seller to put toward your closing costs is significantly higher. 
In cities like Seattle, FHA loans have the greatest appeal to those who are … (6 comments)

mortgage: Prepayment Penalty puts Northeast Seattle Homeowner in Hot Seat - 06/29/08 10:23 AM
Do you have a prepayment penalty on your Home Loan?
A prepayment penalty is exactly what it sounds like.  Banks make money with home loans by having you pay interest back to them over a period of time.  To ensure they make a decent amount on each loan, some loans penalize you for paying them off before a specified amount of time.  The amount of time can vary but is typically two or three years.  The penalties can be steep and can drive your home sale decision.
An Example:
I have a client who contacted me this spring.  She purchased … (3 comments)


Rob Graham

Rob Graham

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