Category Archives: Announcements

First Mortgage Low Down Loan Options

If you’re in the market to purchase a home with less than 20% down, following is some very useful information. Brenda Alfano of Absolute Mortgage does a great job of sharing her wealth of knowledge in layman’s terms.

Wow, is it October already?!? So last month I mentioned that I would talk about Purchase 1st Mortgage options that do not require a 20% down payment – so here they are:

CONVENTIONAL
A Fannie Mae or Freddie Mac Conventional 30 year fixed mortgage requires as little as 5% down payment, a bit easier to come up with than 20% down, don’t you think?

Depending on your income you may qualify for a My Community (a Fannie Mae loan program) mortgage that only requires 3% down in many cases.

With either of the above mentioned options, you will be required to purchase Private Mortgage Insurance. Cost of this depends on the Loan to Value (LTV) and your credit score.
Conventional loans are greatly driven by the credit score of the borrower.

GOVERNMENT
Loans in this category are not given by the Government, just either insured or guaranteed by them.

FHA – Requires 3.5% down payment and also has upfront and monthly Mortgage Insurance.

USDA – 100% financing with an upfront funding fee allowed to be financed into the loan and an annual fee paid monthly. This program is driven by income and location of property to qualify.

VA – for the eligible American Veteran and their surviving spouses (if they have not remarried). 100% financing, an upfront funding fee allowed to be financed into the loan and NO other mortgage insurance. Limited closing costs allowed to be paid by the Veteran. Truly a great loan option!

These are the basics – many banks or mortgage companies have proprietary programs with their own guidelines so you might want to check into those options also.

Until next month, have a ghoulishly good Halloween!

Brenda Alfano
NMLS#229897
425-330-2039
http://balfano.absoluteloans.com
Absolute Mortgage, a division of Pinnacle Capital Mortgage Corp, nmls81395

Contest Winner!!

Congratulations Anna R. of Lynnwood! Anna won the toolkit we were giving away at the Everett Home Show last weekend. She guessed 288 packing peanuts, and the actual number was 287! Way to go Anna!!

Everett Fall Home Show and Everett Gift & Food Show

The Everett Fall Home Show and Everett Gift & Food Show at Comcast Arena is coming soon – Sep 26, 27 & 28. Two shows – one admission price! The show is a fun place to gather information for future home improvement projects, as well as shop for the holidays. Click for show details and to download free tickets. It’s all happening at the same time and the same place!

In The Market To Buy Or Sell A Home?

Are you planning to purchase a home in the near future? There are many different financing options available – some you may not have considered or even heard of before. Taking time to research different loan options and getting pre-qualified for a mortgage will best position you to move quickly (very important in a seller’s market) once you find your dream home.

Below, Brenda Alfano of Absolute Mortgage shares some interesting facts for home buyers. You are also invited to attend Brenda’s free one hour seminar on buying or selling a home. Some of the topics covered include Real Estate and Mortgage Market Prediction, Qualifying for Financing, and Appraisal & Property Condition.

WHEN & WHERE
Tuesday, September 9 @ 7 pm
Absolute Mortgage
115 2nd Ave N, Suite 200
Edmonds, WA 98020

Please call Brenda at 425-330-2039 to reserve your spot, seating is limited. Each attendee will receive a $30 gift certificate from Edmonds Hardware & Paint to be used toward picture framing.

Hello! Brenda Alfano, Mortgage Consultant, dropping in to give you some news of the industry for first time buyers and even 2nd time buyers. Many people think they will never be able to buy because they don’t have 20% down. Not sure where this myth started but it is simply not true! There are mortgages that allow for only 3.5% down – some even have 100% financing depending on where the property is located and the income of the buyers.

WSHFC (Washington State Housing and Finance Commission) has a down payment assistance program that, if a borrower qualifies, will lend 4% of the loan amount, zero percent interest, payable in 30 years or until the home sells or loan is refinanced or transferred. You do not need to be a first time buyer either! It is for the purchase of your primary and only residence.

Another possibility for down payment is the NHF Grant. This is Grant money so no 2nd mortgage involved, free funds for those who qualify. Qualification is quite generous and you do not need to be a first time buyer with this program.

Next time I will talk about the different 1st mortgage loan options available that do not require a 20% down payment. Till then!

Brenda Alfano
NMLS# 229897
Absolute Mortgage
425-330-2039

Taste of Edmonds, Aug 8-10

Looking for something fun to do with the entire family this weekend? A Taste of Edmonds is this Fri-Sun, Aug 8, 9 &10. Arts & crafts, live music all weekend, LOTS of fabulous food vendors, rides for the kids, and a beer and wine garden! There’s plenty of free street parking, entrance is an incredibly cheap $4, and kids 12 and under are free. Come join us, and have an Edmonds Kind of Day. I personally will be available to serve you up a frosty cold one in the beer garden Sat, 4-7 pm. Spike & The Impalers will be on stage from 4:00-5:30 followed by the Gold Diggers from 6:00-7:00. Check out the entire weekend’s music line-up and all the fun events. We hope to see you there!

 

Enjoy a night on us at Salish Spa & Lodge!

We would like to treat you to a special night at Salish Spa & Lodge!

Memorial Day to Labor Day Summer Promotion. Refer a friend between Memorial Day and Labor Day and your name will be entered to win a night for two at Salish Spa & Lodge at Snoqualmie Falls. The resort getaway is a short 30 minute drive from Seattle and the perfect location to indulge in some serious pampering. Second prize winner receives a $100 gift certificate toward the home improvement service of their choice. Apply it toward any home maintenance, repair, or remodeling project you would like to have completed.

FIRST PRIZE: Salish Spa & Lodge, a special night for two*

SECOND PRIZE: $100 Gift Certificate*

Multiple referrals increase your chance of winning. Your name will be entered to win each time you refer someone between now and Labor Day. Referrals must have work completed or scheduled with deposit by Sep 1, 2014. Do you have a project we can help you with this summer? Your name will also be entered to win each time you use our services during this promotion.

Everyone is a Winner! In addition to our Summer Promotion, all referrals are rewarded year round through our Referral Appreciation Program.

$25 American Express Cash Gift Card (for each referral of $500 or more closed business)

$10 Starbucks Gift Card (for each referral less than $500 of closed business)


Submit your referrals via our website, give us a call at 425-775-9085,

*First prize includes a deluxe guestroom for two at Salish Spa & Lodge on a Friday night and $50 credit at Salish Spa & Lodge. Subject to availability and black out dates. Second prize limited to services Contractor Hotline offers and locations served. Please visit our website or call for more information.

Edmonds Business Expo, June 7, 2014

Looking for something FREE and FUN to do in EDMONDS? The third annual Edmonds Business Expo is Sat, June 7 from 10-3 pm at the Edmonds Conference Center (4th Ave & Bell St). The expo is a great way to meet and learn about a variety of service providers who may not have brick and mortar storefronts but who provide useful services to the community. Free entry, door prizes, and promotions from area businesses! Make it a full day and combine your visit with a stroll through downtown Edmonds and the Edmonds Farmer’s Market. The market is open from 9-2 pm and located just one block from the expo. We hope to see you there!

Everett Home & Garden Show

Come visit us at the Everett Home & Garden Show at Comcast Arena this weekend, March 7-9. Enjoy a relaxed and comfortable home show atmosphere while learning about new and innovative ideas for all your home improvement needs.

There is plenty of parking (free parking on Sat & Sun in the Snohomish County Garage on Oakes St between Wall and Pacific Streets), discounted tickets, wine tasting Friday evening from 5:30-6:30, and a variety of public speakers. Call us with any questions. We hope to see you there!

Happy Holidays!

We wish you a holiday season filled with joy, peace, and contentment.  

 

We are blessed to have so many wonderful customers and friends. Thank you for your support and friendship. We appreciate and are grateful for each opportunity to assist with your home maintenance, repairs, and remodeling dreams.   

 

Let us also remember those less fortunate this holiday season. Whether it be a donation to your favorite charity or spending time with a friend or neighbor in need, each of our efforts are important and make a difference. Each year, Contractor Hotline donates a portion of the proceeds from each completed job to Habitat for Humanity. Thank you for using our services and thereby contributing to this worthy cause.   

 

Stay tuned this coming year for important announcements and tips to help keep your home well maintained and beautiful. Let us know if you have a special request or suggestion on how we can improve our service. Join us on Facebook, Twitter, Google +, or subscribe to our newsletter or blog. We welcome and value your input.  

 

All the best to you this holiday season and New Year!

Happy Holidays!

Cari