Michael Mullin

How To Get Fannie Mae To Pay Your Closing Costs

Want to save some money on your loan closing costs? Fannie Mae (FNMA) has announced a limited time offer to provide closing cost assistance on some of the homes they are selling. In select states FNMA is offering an incentive of up to 3.5% of the sales price to buyers who request the incentive w ...
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FHA Helps Boomerang Buyers:Shortens Waiting Periods

FHA just came to the rescue of thousands of  “boomerang buyers” by releasing Mortgagee Letter 2013-26 on August 15.  In this Mortgagee Letter FHA is severely reducing the length of the waiting period required after you have had a Bankruptcy or lost your home to Foreclosure, Short Sale or Deed- ...
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Largest One Week Jump In Rates Since 1987

Interest rates moving higher is certainly not news but the speed and the amount of which rates have moved in the last two weeks is pretty much unprecedented.  If you aren't currently in the middle of a loan process it’s not a big deal but for those that are it’s a pretty frustrating experience. ...
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Pre-Approval versus Pre-Qualification

Loan Pre-Approval versus Pre-Qualification: There’s An Important Difference I often hear “pre-approval” and “pre-qualification” spoken about as if they are the same thing and that couldn’t be further from the truth.  Part of the confusion is that there is no legal definition of eithe ...
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Spokane Home Shoppers: How To Get Your Offer Accepted

Home Shoppers: How To Get Your Offer Accepted Want the secret to getting your purchase offer accepted and reduce the stress of the process?  Regardless the market condition, preparation is the key. The very first thing you need to take care of is your finances.  How much home can you qualify ...
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Trying To Find Spokane's Best Mortgage Interest Rate?

If you call me and say “I’m shopping for the best rates and have spoken to 3 other lenders. What can you offer?” I’m likely to respond “I respect your desire to obtain the ‘best’ rate and I know you are just trying to avoid being ripped off by a lender. But by leading with that questio ...
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