Category: News

As we welcome 2025, the Federal Housing Administration (FHA) has once again increased its loan limits, making homeownership more accessible for many aspiring buyers. Whether you're a first-time homebuyer or looking to refinance, understanding the new FHA loan limits is crucial for navigating the housing market this year. FHA loans are renowned for their low down payment requirements and flexible credit criteria, and the updated limits further enhance their appeal. For 2025, FHA loan limits for single-family homes range from a minimum of $524,225 in most areas to a maximum of $1,209,750 in high-cost regions. In particularly expensive locales such as Alaska, Hawaii, Guam, and the U.S. Virgin Islands, the ceiling can soar up to $1,814,625 for one-unit properties. These limits vary based on the number of units in the…

In today's dynamic real estate market, homeowners are discovering new opportunities to leverage their home's equity. With recent shifts in the economic landscape, many property owners are finding themselves sitting on substantial equity - in fact, the average mortgage-holding homeowner currently has access to over $200,000 in tappable equity. This significant financial resource has caught the attention of homeowners looking to fund home improvements, consolidate debt, or invest in other opportunities. When it comes to accessing your home's equity, three main options stand out: home equity lines of credit (HELOCs), home equity loans, and cash-out refinancing. Each option serves different needs and comes with its own set of advantages. HELOCs offer flexibility with a revolving credit line, perfect for ongoing projects or uncertain future expenses. Home equity loans provide the…

The Federal Reserve's recent decision to cut interest rates has brought a sense of cautious optimism to the housing market and broader economy. On Thursday, the Fed reduced its key benchmark borrowing rate by a quarter percentage point, bringing the target range to 4.75-5.0%. This marks the second consecutive rate cut, following a similar reduction in September, indicating a measured shift in monetary policy aimed at supporting economic growth. While the Fed's rate cuts influence various consumer lending products, their effect on mortgage rates isn't always direct. Mortgage rates tend to follow the 10-year Treasury yield more closely, which responds to a variety of economic factors. However, the recent Fed action has contributed to a modest downward trend in mortgage rates. The average 30-year mortgage rate has eased to 6.50%…

**How to Shop for Mortgage Rates in Lakewood, WA: Why an Independent Mortgage Broker Like All Tech Mortgage Inc. Could Be Your Choice** If you’re looking to buy a home or refinance in Lakewood, WA, finding a competitive mortgage rate is key to making the most of your investment. With a range of options available, knowing how to shop for mortgage rates can save you thousands over the life of your loan. While some homebuyers go directly to banks or credit unions, an increasing number of buyers are choosing independent mortgage brokers like All Tech Mortgage Inc. Here’s a guide on how to shop for mortgage rates effectively and why working with an independent broker could give you an edge. ### Step 1: Understand the Different Types of Lenders In…

Refinancing to a 15-year mortgage is an option many homeowners consider when interest rates drop. This type of refinance allows you to pay off your mortgage faster, potentially saving on long-term interest costs. While the appeal of faster equity-building and reduced interest is strong, refinancing to a shorter term does come with trade-offs. Here’s what to consider if you’re thinking about making the switch. Before making the leap, it’s essential to assess several key factors. First, check if you’ve held your current mortgage long enough to refinance; lenders often require a set period before allowing this, known as “seasoning.” Another critical aspect is your financial comfort with the potential increase in monthly payments. Refinancing to a 15-year loan from a 30-year loan can significantly raise your monthly payment, even if…

Using a VA loan to buy a home near Joint Base Lewis-McChord (JBLM) offers military members and veterans an affordable path to homeownership in the beautiful Pacific Northwest. JBLM, one of the largest military installations on the West Coast, is located just south of Tacoma, Washington, with easy access to nearby communities like Lakewood, Lacey, Puyallup, and DuPont. Each area has its own unique feel, from urban amenities to quieter suburban life, allowing service members to find the perfect neighborhood to suit their lifestyle. The VA loan is a huge benefit for eligible military members, veterans, and their families. With features like zero down payment, competitive interest rates, and no private mortgage insurance (PMI) requirement, VA loans make it possible for many service members to purchase a home more affordably.…

A zombie mortgage is a haunting financial surprise that can emerge years after a homeowner thought their mortgage was fully paid off or discharged. This second mortgage, often linked to loans from the early 2000s housing bubble, resurfaces with demands for repayment, even though the borrower believed it was settled. Many of these loans were part of "piggyback" financing, where a borrower took out a first mortgage for 80% of their home’s value and a second mortgage for the remaining 20%. Over time, confusion around modifications and loan terms has led some homeowners to mistakenly believe the second mortgage was forgiven or discharged, only for it to rise again—hence the term "zombie mortgage." Zombie mortgages tend to resurface when market conditions improve, and investors seek to collect on old debts.…

10 Real Estate Hacks Every Buyer and Seller Should Know Buying or selling a home is one of the biggest financial decisions you'll ever make, but it doesn’t have to be overwhelming. With the right strategies, you can save time, money, and stress. Whether you're a first-time homebuyer or a seasoned seller, here are 10 real estate hacks to make the process easier and more efficient. 1. Get Pre-Approved Before You Start Looking Before you begin your house hunt, get pre-approved for a mortgage. This not only gives you a clear idea of your budget but also shows sellers that you're a serious buyer. With pre-approval, you'll have an edge in competitive markets. 2. Find Hidden Listings Some homes aren’t listed on major real estate websites but are still available…

When it comes to mortgage rates, the Federal Reserve plays an influential but indirect role. The Fed doesn’t set mortgage rates directly, but its decisions around interest rates significantly impact the financial landscape, including the cost of borrowing to buy a home. Understanding the Fed’s role in monetary policy is key to grasping how mortgage rates fluctuate and what might drive up or lower the rate on your home loan. The Federal Reserve primarily influences short-term borrowing costs by setting the federal funds rate, which is the interest rate banks charge each other for overnight loans. When the Fed raises or lowers this rate, it affects the broader economy by influencing rates on credit cards, car loans, and home equity lines of credit. While fixed mortgage rates aren’t directly tied…

Mortgage rates have dropped once again, offering a unique opportunity for both homebuyers and current homeowners, with rates at their lowest rate in over 18 months. For homeowners, this may be the perfect time to consider refinancing—replacing their existing mortgage with one that has a lower interest rate. If you’ve been holding off on refinancing due to high rates, now could be your chance to lock in savings. In recent years, refinancing activity plummeted as rates surged from 3 percent during the pandemic to as high as 8 percent in late 2023. However, with rates starting to dip, some homeowners who took out mortgages during the rate hike may find it beneficial to refinance now. For homeowners with adjustable-rate mortgages or those locked into higher rates, the current market conditions…