If you’re a first time home buyer in Washington you can use a Washington State Bond program like the Home Advantage or House Key Opportunity programs through the Washington State Housing and Finance Commission in order to get down payment assistance for your purchase. This is a great way to get started on your first [...]
Down payments typically range from 3.5% to 5% on an owner-occupied property. If you’re using an FHA or conventional loan. Discover which might be better for you. In order to figure out which loan is going to be the best for your situation you’ll need to talk with your lender. You’ll need at least a [...]
Both loan officers and real estate agents only make money when you decide to purchase a house with them. For this reason, it is very important that you decide who you are going to work with early on in the home-buying process. You want people who will be your trusted advisers so make sure you [...]
There are plenty of things that you can do to improve your credit score. The biggest thing is paying on time. If you’re having trouble making payments on time talk to your loan officer or a credit repair agency to see how they can help. They can make suggestions and help you budget to stay [...]
A person who has taken courses and licensed by the State of Washington to act on behalf of a real estate firm. Formerly known as agents, the State of Washington now recognizes licensed individuals as brokers working under a real estate brokerage.
A homeowners association or HOA is a nonprofit association that manages common areas of a condominium or planned unit development. Owners pay a fee to the association to maintain certain areas that are owned jointly by everyone in the development.
Title insurance protects the lender and buyer from any losses that are incurred as a result of disputes over the title of the property.
An escrow officer is typically employed by the title company that you are working with and they walk you through the closing process. They are responsible for oversee the escrow process as a neutral party. They ensure that they transaction is executed properly and legally and perform title searches, prepare paperwork and witness document signings.
A multiple listing service (MLS) is an online listing service that compiles all properties that are listed with a realtor. Brokers utilize the MLS to find homes in a certain price range or area. Washington utilizes the Northwest Multiple Listing Service (NWMLS).
This is the percentage of a person’s monthly earnings used to pay off all debt obligations.