Blog 4 | Fairway Independant Mortgage Corporation

						I was not aware I could write a review for David! It has been such a pleasure working with the whole team ! Even though... [read more]I was not aware I could write a review for David! It has been such a pleasure working with the whole team ! Even though it has been a few years since my refinancing ; now and then I need help with paperwork  ( i am a foreigner )… and David is always available to answer my questions! I feel safe and cared for . It is nice to be able to rely on such an honest and genuine individual and his team . A lovely surprise indeed! read less		
I. G.		10/13/2023

						David and Jan work well together.  When I have questions David is very patient with me.  He will explain the process and the... [read more]David and Jan work well together.  When I have questions David is very patient with me.  He will explain the process and the options to me until I am satisfied that I understand.  I appreciate the team very much. read less		
B. J.		10/13/2023

						David and team were awesome! They made it possible for us to get a loan for a house at lightning speed. David is also very... [read more]David and team were awesome! They made it possible for us to get a loan for a house at lightning speed. David is also very immensely knowledgeable about the financial world and will make sure that you don’t make the wrong choices with your money. read less		
S. P.		7/13/2023

						David is as knowledgable as they come and more than willing to share that knowledge with his clients. He helped make sure I understood not... [read more]David is as knowledgable as they come and more than willing to share that knowledge with his clients. He helped make sure I understood not only the "how" but also the "why" of every aspect of my loan and explained what every number meant in detail. I cannot recommend him enough. read less		
G. M.		7/13/2023

						Dave & Jan were amazing at helping us buy our first home! Dave spent over an hour with us before we agreed to anything just... [read more]Dave & Jan were amazing at helping us buy our first home! Dave spent over an hour with us before we agreed to anything just to explain what the VA loan process was & what our options were. Both Dave & Jan were very responsive & quick on any questions questions we had. Thank you for such a smooth process! read less		
E. R.		5/23/2023

						World class experience w/David Haley and team! We hit it off right away and he had us get all of our docs in order just... [read more]World class experience w/David Haley and team! We hit it off right away and he had us get all of our docs in order just as we were starting to look at houses. Then our offer was accepted on a Saturday night, and he spent a few hours with us on that Sunday morning to fine tune our financing options and then he locked in a great rate the next day as interest rates started to rise. I have only had transactional relationships with mortgage companies before now and never felt they were working 'for me' before, but am really happy to welcome Dave to a seat at my financial family table, and to call him a friend now. read less		
B. F.		5/13/2023

9 Questions to Ask Before Hiring a Real Estate Agent

Are you looking to sell your home? One of the most important decisions you can make is which agent to hire. A bad agent can lose you thousands of dollars and give you nothing but grief, whereas a good agent can move your home quickly, conveniently, and as close to your asking price as possible.

In my work as a Lynnwood mortgage loan officer, I’ve developed a good sense of what makes an effective realtor. When it comes time for you to select an agent, try using this simple, nine step process to screen your potential representatives.
Continue reading “9 Questions to Ask Before Hiring a Real Estate Agent”

9 Ways to Avoid Common Buyer Traps

Blog, Mortgage Resources Lynnwood Mortgage Loan Officer March 28th, 2013 David Haley Mortgage Loan Officer

As a Lynnwood mortgage loan officer, I like to think that I’m one of the few people in the real estate world you can really, truly count on to be on your side. While you can generally expect lenders and sellers to be out to increase their own profits, and even the most scrupulous realtors have to split their loyalties between you and the selling party, the mortgage loan officer is the one whose job is to keep the money in your pocket and the stress out of your mind. To this end, I’ve compiled the following list of common traps that you, as a buyer, may face when it comes time to shop for a new home. Don’t stumble, don’t snag, and don’t be taken advantage of ever again when you follow these nine simple steps!
Continue reading “9 Ways to Avoid Common Buyer Traps”

Are We Headed for Another Housing Bubble?

Blog, Lynnwood Lynnwood Mortgage Lender July 23rd, 2013 David Haley Mortgage Loan Officer

Driven by the recent bond market activity, mortgage interest rates saw a sharp increase in the month of June. Some people fear that this is going to send the housing market into yet another bubble, much like we experienced last decade. However, the forecasts are not all grim.

In order for another bubble to happen, we would have to see a significant drop in the affordability of homes. As long as the national median-income household can afford the national median-priced home, we won’t be plagued with the same wave of risky credit ventures that brought about the economic downturn of the past decade. Though housing affordability was at a low point in June of 2006, forty-eight states currently enjoy an affordable housing market today.

With home prices as low as they are, we would have to see quite the substantial jump in rates in order to hurt their affordability. Meanwhile, the recent rise in mortgage rates can serve to slow the current pace of appreciation, which can actually help to prevent another bubble from forming.

Much of what ultimately happens will, of course, depend upon the unpredictable attitudes and expectations of the public, but there’s no reason to believe that we’re about to see another significant downturn anytime soon. With that in mind, keep your chin up and contact David Haley for all of your mortgage and home loan needs in the Lynnwood area.

VA Home Loan – Purchase or Refinance

Blog, VA Loan Lynnwood Mortgage Loan Officer August 22nd, 2013 David Haley Mortgage Loan Officer

VA Home Loans, for me personally, are a true pleasure to work with, as they allow me the opportunity to meet all types of service men & women who acted on a core principle belief — honor! My father had served over twenty-one years in the Air Force, and it is a pleasure to have a way to thank military personnel like him for their years of service.

I am so passionate about helping our Military Personnel with a VA Home Loan because it allows the active, retired or veteran military personnel receive one of the most stable loans with no monthly mortgage insurance.

Depending on your eligibility for a VA loan, there could be no funding fee. This means you have or are receiving some disability benefit from the Department of Veteran Affairs.

Many times I have heard from a person who is wanting to refinance a home loan, and I will find out that he or she had served in our Armed Forces. I then ask them if they would like to do a VA Loan, and they say that they used it already. Well, I am here to tell you that you can use it again! While it is true that you can only have one VA loan active at a time, you may have another opportunity to use it again. We will need to dig further on this, but it can happen. Each person’s level is different.

These are rewarding loans for me, personally, as I had stated before. Should you need more information, please feel free to contact me or you can click this link for one of the best Mortgage Calculators for a VA Home Loan: Calculator. Please note the pull down bar as this will allow for several options pertaining specifically for our veterans.

Here is more added info pertaining to VA Rules: http://www.benefits.va.gov/homeloans/documents/docs/vap_26-4_online_version.pdf

Thank you for reading this. I hope it has been a big help to you.

The Back to Work Program Helps Home Buyers with Financial Problems

Blog Lynnwood Mortgage Loan Officer August 22nd, 2013 David Haley Mortgage Loan Officer

Have you been having trouble buying a new home due to a financial hardship? If so, the Federal Housing Administration also known as “FHA” may have some good news for you. The Back to Work program, effective as of the fifteenth of August 2013, is providing struggling home buyers with the aid they need to get back in the housing market and secure the home of their dreams.

Under these new guidelines, the usual waiting periods that follow a derogatory credit event has been reduced. Recent events have inspired the FHA to acknowledge that a bad credit history is occasionally out of an individual’s reasonable control, and doesn’t necessarily reflect your ability to make mortgage payments. Therefore, if you’ve experienced any of the following over the past few years, you may be eligible to get a new FHA-insured mortgage to become a homeowner again:

Pre-foreclosure sales
Short sales
Deed-in-lieu
Foreclosure – was 3 years – now only 1 from release of lien on title.
Chapter 7 bankruptcy – was 2 years – now only 1 year from discharge
Chapter 13 bankruptcy
Loan modification
Forbearance agreements

These timelines have been shortened for people who have suffered such hardships should be prepared to demonstrate that their ability to make payments was caused by a loss of employment or other such significant loss of income that was beyond their control by 20% or greater. The potential borrower must then demonstrate a recovery from the hardship, and complete housing counseling with an HUD-approved agency. If the FHA is satisfied, you will once again be able to buy a home with the current market interest rates and home prices.

For more information on the Back to Work program, you can contact Lynnwood mortgage lender / broker David Haley.

Veteran – GI Bill – VA Info

Blog February 15th, 2014 David Haley

To our Veteran’s looking to go back to college – The Veterans GI Bill is a wonderful program and assistance to help with college tuition. Most Veteran’s had problems to meet the required residency – this has been removed.

Veterans will soon have more choices for attending college on the GI Bill.

They’ll be able to pay in-state tuition at any public institution in the U.S.,

no matter where they live and regardless of the usual strict residency requirements.

Congress will add that huge sweetener by next spring.

The GI Bill now covers the cost

of in-state tuition, with veterans picking up any out-of-state difference and fees.

The move solves a problem many prospective student vets encounter: They aren’t able

to fulfill residency requirements because they are stationed in another state or overseas

at the end of their military service. The extra expense causes them to skip college

or defer enrolling. Schools that don’t comply will be tossed from other GI Bill programs.

Economic Ways to Improve Your Property’s Appeal

Blog Property, Renovation Tips March 24th, 2014 David Haley Mortgage Loan Officer

Are you looking to give your property a good spit-shine in order to attract high-paying tenants? For many landlords, a few well-placed renovations can go a long way towards increasing revenues and occupancy. Mortgage loan broker David Haley offers the following tips for planning a profitable renovation for your units:

The Kitchen: It has been observed that the kitchen is one of the most important things that potential tenants look at when considering a rental property, and is therefore one of your best investments. Even small improvements, like replacing the faucets in your sinks, installing new track lighting, or throwing down an inexpensive laminate countertop can do wonders.
The Bathrooms: Bathrooms are high on the list of what renters look at when considering a unit, right up with kitchens. Re-grouting or replacing old tiling keeps the room from looking unsanitary, and replacing old towel racks or toilet seats are easy ways to improve on the look.
The Front Door: One of the first things a potential renter will notice is the door they enter through. This door represents a big part of how secure their home will be. If you cannot afford to replace an old door, consider repainting it or replacing the handle and lock.
Flooring: A good floor can make or break a home’s aesthetic. If you have carpeting, consider putting in laminate flooring. It’s a cheap alternative to hardwoods, and can save you thousands in maintenance over the years. If you prefer to keep your carpeting, you should at very least have it professionally cleaned.
The Exterior: Curb appeal is a big factor. Sometimes, it just takes a bit of cleaning and basic maintenance. Manicure the lawn, get rid of any rusty furniture or garden tools, and give the walkway a good sweeping.

House-Flippers Gain Confidence in the High-End Market

Blog Lynnwood Mortgage Loan Officer August 22nd, 2013 David Haley Mortgage Loan Officer

For a long while, the luxury real estate market has been a no-man’s land for investors. It was hard enough to unload a cheap home without losing money, and the prospect of buying a mansion to fix up and flip for a profit simply was not in the cards. However, recent years has seen an improvement in the market, and ambitious property investors are once again working to buy, sell, and make out like bandits in the world of high-end houses.

The up and coming players in this recovering field have been the money lenders. While banks remain reluctant to provide house-flippers with the short-term, quick financing that they need, private lenders like Jan Brzeski have been stepping up to fill the need. Thanks to her loan, realtor Scott Ryan was able to buy a house for $1.5 million, improve the property for $600,000, and put in on the market for $3.3 million. In all-too recent memory, this house might have sat on the market for several years and several cuts in the asking price, but the current market is giving them optimism to secure a sale within a week.

According to Brzeski, he was originally wary of the high risk associated with high-end real estate investments. However, after pouring roughly $2.5 million into a venture back in 2011, he was pleased to discover that the realtor was met with a line of all-cash offers as soon as it was placed on the market. The property sold for $3.5 million, and Brzeski was sold on mansion-flipping immediately.

The causes behind this recent recovery in the high-end housing market seem to be based in the freshly robust stock market. With a slew of wealthy individuals suddenly flush with extra money, many of them are gaining confidence in buying the houses of their dreams. House-flippers are therefore gaining confidence that their riskier investments will pay off more quickly and more profitably.

Since 2011, flips of houses valued at upwards of $1 million have increased by about forty percent across the country. Between 2011 and 2012, such flipping jumped 456 percent in Phoenix, 867 percent in Orlando, and 730 percent in Las Vegas, according to RealtyTrac. These figures are based off of high-end homes that were bought and sold within six months.

Read the original article here.

Could Bitcoin Become a Real Estate Standard?

Blog Lynnwood Mortgage Loan Officer, Mortgage Market March 3rd, 2014 David Haley Mortgage Loan Officer

Earlier this year, a mortgage broker company in Manhattan became the first company of its kind to accept bitcoins as payment. Bitcoins, representing a form of digital currency, have been making a splash in recent years as they have legitimized themselves from being worth pennies apiece to being worth upwards of six hundred dollars. Some people are optimistic that this new monetary form will have a lot of potential in the modern real estate market, but its future as a viable currency remains uncertain.

In truth, the bitcoin market is highly unstable. Investors are turned off by how easy the coins are to lose. Also, over-ambitious bitcoin “miners” could crash the entire system single-handedly. It’s a currency plagued with uncertainty, and the real estate market does not like uncertainty.

The real estate world learned a harsh lesson about the bitcoin when a couple of big players in the bitcoin market restricted the ability of bitcoin users to withdraw their digital currency. This led to a sharp decline in bitcoins, which lost investors 20% of their bitcoin value. Clearly, while digital currency may someday become a valuable part of the real estate world, the system may require more regulation before any more mortgage companies care to take a chance on it.

Lawsuit to Challenge Status of Real Estate Agents

Blog Real Estate News March 10th, 2014 David Haley Mortgage Loan Officer

A case going forward in Los Angeles County Supreme Court may have widespread consequences for real estate agents throughout the country. This case, dubbed Bararsani v. Coldwell Banker Residential Brokerage Company, challenges that the accused brokerage company falsely classified its real estate agents as independent contractors when they were actually acting as employees. In doing so, the company failed to reimburse their contractors for their business-related expenses.

It’s common practice in the United States for brokerage companies to maintain their real estate agents as independent contractors instead of employees. The companies find this to be beneficial, as keeping their total employees under a certain number saves them from significant paperwork and expenses. Many of the agents themselves also find it to be an agreeable situation, as their contractor status allows them to be their own bosses and not have taxes withheld from their paychecks.

Though federal law allows for real estate agents to act as contractors, these laws may have to be re-analyzed depending on the outcome of this trial.

Schedule a Consultation