Home Buyer | Fairway Independant Mortgage Corporation

			 
			My experience working with David Haley Mortgage was amazing. David and his team are true professionals and consistently were on top their game every step... [read more]My experience working with David Haley Mortgage was amazing. David and his team are true professionals and consistently were on top their game every step of the way. read less		
A. L.

			David Haley and Jan are absolutely the best they went above and beyond to get us into our first home. They are very responsive and... [read more]David Haley and Jan are absolutely the best they went above and beyond to get us into our first home. They are very responsive and work so hard to help you. We were first time home buyers and they helped us every step of the way. If you are looking into buying a home i would 100 percent recommend David and his team at fairway mortgage :) ! read less		
A. C.

			Nothing beats the smooth, fast, and engaging experience of working with the David Haley Team. David and Jan went out of their way to teach... [read more]Nothing beats the smooth, fast, and engaging experience of working with the David Haley Team. David and Jan went out of their way to teach us, answer our questions and work with us through this process. This team should be your first and last stop in the search for a mortgage broker. 10/10 in every category! read less		
C. J.

			 
			David Haley is the mortgage guru. He and his assistant Jan Solo formed the Dream Team who walked alongside us every step of the way,... [read more]David Haley is the mortgage guru. He and his assistant Jan Solo formed the Dream Team who walked alongside us every step of the way, navigating our VA loan process and spending much time educating us with the software programs he uses and making certain every move was crystal clear and expected. We appreciated stellar communication and were either able to reach David immediately or received a call back within minutes even on Christmas Eve! All documents received were clearly communicated to be expected and securely sent and best of all, he helped us to close early and with money back at closing! From A to Z, we had a platinum experience☆☆☆☆☆ read less		
J. K.

			Working with David and team was actually a meaningful experience for me. They took the time to educate me on the process every step of... [read more]Working with David and team was actually a meaningful experience for me. They took the time to educate me on the process every step of the way, and even help to form strategy for current and future property purchases. David went above and beyond by answering my (sometimes) late phone calls and being extremely responsive. You won't get that type of service from a large bank. I highly recommend David Haley and team. read less		
J. E.

			Working with Dave Haley was a real treat. I am a first time home buyer and he was beyond amazing at walking me through and... [read more]Working with Dave Haley was a real treat. I am a first time home buyer and he was beyond amazing at walking me through and making me feel like I had all of the information. This is hands down some of the best service I have ever received and I have years of sales and customer service management myself! read less		
J. V.

Lynnwood’s Alderwood Manor Neighborhood

Blog, Home Buyer, Lynnwood April 3rd, 2023 David Haley

Alderwood Manor is a popular and rapidly growing neighborhood in Lynnwood, Washington. As of the 2020 Census, it’s home to just over 5,100 people.

Known for quiet streets and a secluded feel, this enclave of generally spacious homes is only half an hour’s drive north of Seattle, and adjacent to the lively commercial areas around Alderwood Mall.

Homes

The roomy homes around Alderwood Manor fetch a moderate to high price per square foot, in keeping with other desirable spots in Snohomish County.

Owner-occupied single-family homes are the norm. Houses aren’t often for rent, although there is only one large apartment complex in the neighborhood.

As you’ll find throughout Lynnwood, prices are changing quickly as more people seek to settle here.

Education

The well-regarded Edmonds School District serves Alderwood Manor and several adjoining areas. Most local families attend Lynnwood or Spruce Elementary School, Alderwood or Meadowdale Middle School, and Lynnwood or Meadowdale High School.

Some parents also opt for one of several private schools within about 5–10 miles of the neighborhood.

Transportation

Like most of Lynnwood, Alderwood Manor is roughly halfway between Seattle and Everett.

The neighborhood has good freeway access, being just minutes west of the I-5/I-405 interchange. Immediately southwest of Alderwood Manor, an upcoming light rail station will give locals a great option to leave town—and leave their cars behind.

Recreation

Close to home, residents can enjoy the fresh air and greenery at Pioneer Park. Dozens of other parks, trails, and green spaces are also accessible within a few miles’ drive.

Seattle’s big-city amenities and Everett’s burgeoning cultural scene are both readily accessible, while outdoorsy types enjoy easy access to the Cascades via Highway 2.

Moving to Alderwood Manor in Lynnwood

It’s easy to see why so many out-of-towners opt for Alderwood Manor, and why plenty of Lynnwood locals hope to own their first house here.

If you’d like to call it home, too, then here are three tips for an easy transaction and transition.

1. Don’t be scared!

If the homebuying process seems a bit overwhelming or mystifying, you’ve got nothing to worry about. Even if it’s not your first house, it’s still normal for the whole thing to feel like…a bit much.

Remember that a big part of your agent’s job is to help you stay on top of all those moving pieces!

2. Find a local expert to guide you

Speaking of agents, it’s essential to find someone who knows Alderwood Manor and its vicinity like the back of their hand.

Agents who can fill out paperwork are a dime a dozen, but there’s no substitute for the street-by-street knowledge of someone who actually lives and works in the Lynnwood area.

3. Talk to lenders & get pre-approved

Before doing anything else, it’s important to consult a lender and have a mortgage pre-approval in hand.

This will let you move quickly and make a successful offer—fingers crossed!—once you’ve found the ideal Alderwood Manor home.

Lynnwood’s Alderwood Manor South Neighborhood

Blog, Home Buyer, Lynnwood March 15th, 2023 David Haley

Alderwood Manor South is a popular and rapidly growing neighborhood in Lynnwood, Washington. As of the 2020 Census, it’s home to just over 5,000 people.

Known for quiet streets and a secluded feel, this enclave of generally spacious homes is only half an hour’s drive north of Seattle, and immediately southeast of the lively commercial areas around Alderwood Mall.

Homes

The roomy homes around Alderwood Manor South fetch a moderate to high price per square foot, in keeping with other desirable spots in Snohomish County.

Owner-occupied single-family homes are the norm. Houses aren’t often for rent. However, there’s a selection of apartment communities, primarily toward the northwestern edge of the area, near I-5.

As you’ll find throughout Lynnwood, prices are changing quickly as more people seek to settle here.

Education

The well-regarded Edmonds School District serves Alderwood Manor South and several adjoining areas. Most local families attend Cedar Way or Hazelwood Elementary School, Alderwood or Brier Terrace Middle School, and Mountlake Terrace High School.

Some parents also opt for one of several private schools within about 5–10 miles of the neighborhood.

Transportation

Like most of Lynnwood, Alderwood Manor South is roughly halfway between Seattle and Everett.

The neighborhood has good freeway access, being just minutes south of the I-5/I-405 interchange. Immediately west of Alderwood Manor South, an upcoming light rail station will give locals a great option to leave town—and leave their cars behind.

Recreation

Close to home, residents can enjoy the fresh air and greenery of several city and county parks near the neighborhood. Dozens of other parks, trails, and green spaces are also accessible within a few miles’ drive.

Seattle’s big-city amenities and Everett’s burgeoning cultural scene are both readily accessible, while outdoorsy types enjoy easy access to the Cascades via Highway 2.

Moving to Alderwood Manor South in Lynnwood

It’s easy to see why so many out-of-towners opt for Alderwood Manor South, and why plenty of Lynnwood locals hope to own their first house here.

If you’d like to call it home, too, then here are three tips for an easy transaction and transition.

1. Don’t be scared!

Remember that a big part of your agent’s job is to help you stay on top of all those moving pieces!

2. Find a local expert to guide you

Speaking of agents, it’s essential to find someone who knows Alderwood Manor South and its vicinity like the back of their hand.

Agents who can fill out paperwork are a dime a dozen, but there’s no substitute for the street-by-street knowledge of someone who actually lives and works in the Lynnwood area.

3. Talk to lenders & get pre-approved

Before doing anything else, it’s important to consult a lender and have a mortgage pre-approval in hand.

This will let you move quickly and make a successful offer—fingers crossed!—once you’ve found the ideal Alderwood Manor South home.

Moving to the City of Mountlake Terrace

Blog, Home Buyer December 30th, 2022 David Haley

The small, scenic city of Mountlake Terrace is one of the most sought-after spots in south Snohomish County.

Known for its desirable real estate and overall prosperity, this town of generally spacious homes is less than 20 minutes north of Seattle. The coming light rail connection has sparked a development boom in this previously sleepy suburb, as new residences and restaurants pop up regularly.

Homes in Mountlake Terrace

The roomy homes in Mountlake Terrace fetch a fairly high price per square foot. Recent sale prices generally fall in the upper tier of the market for south Snohomish County, but remain a good value compared to Seattle proper.

The core of the city comprises single-family homes. There are also several apartment communities—generally high-end and often newly built—primarily toward the western and southern edges of town.

As you’ll find throughout greater Seattle, prices are changing quickly as more people seek to call this area home.

Education

The well-regarded Edmonds School District serves Mountlake Terrace and most neighboring areas. Local families generally send their kids to Mountlake Terrace High School, Brier Terrace Middle School, and one of three public elementaries.

Some parents also opt for one of three private schools within city limits, or several others just a few miles outside.
Transportation
Mountlake Terrace is roughly halfway between Seattle and Everett.

The city has good highway access, being adjacent to I-5 and WA-104 (Ballinger Way/NE 205th/Edmonds Way), and a stone’s throw from WA-99. In the southwest corner of the city, the existing transit center will soon host a light rail station, giving locals a great option to leave town—and leave their cars behind.

Recreation

Close to home, residents can enjoy the well-kept Mountlake Terrace Recreation Pavilion, the popular Veterans Memorial Park (and several neighborhood ones), the wooded Lyon Creek path, and even a public golf course. Dozens of other family-friendly recreation opportunities are located within a few minutes’ drive.

Seattle’s big-city amenities and Everett’s burgeoning cultural scene are both readily accessible, and outdoorsy types enjoy easy access to the Cascades via Highway 2.

Tips for Moving to Mountlake Terrace

It’s easy to see why so many out-of-towners opt for Mountlake Terrace, and why plenty of locals hope to own their first house here.

If you’d like to call it home, too, then here are three tips for an easy transaction and transition.

1. Don’t be scared!
If the homebuying process seems a bit overwhelming or mystifying, you’ve got nothing to worry about. Even if it’s not your first house, it’s still normal for the whole thing to feel like…a bit much.

Remember that a big part of your agent’s job is to help you stay on top of all those moving pieces!

2. Find a local expert to guide you
Speaking of agents, it’s essential to find someone who knows Mountlake Terrace and its vicinity like the back of their hand.

Agents who can fill out paperwork are a dime a dozen, but there’s no substitute for the street-by-street knowledge of someone who actually lives and works in south Snohomish County.

3. Talk to lenders & get pre-approved
Before doing anything else, it’s important to consult a lender and have a mortgage pre-approval in hand.

This will let you move quickly and make a successful offer—fingers crossed!—once you’ve found the ideal Mountlake Terrace home.

Lynnwood’s Crawford Road/Damson Road Neighborhood

Home Buyer October 26th, 2022 David Haley

The Crawford Road/Damson Road neighborhood is one of the most prosperous and desirable neighborhoods in Lynnwood.

Known for its quiet streets and secluded feel, this enclave of generally spacious homes is only half an hour’s drive north of Seattle, and about 10 minutes southeast of the lively commercial areas around Alderwood Mall.

Homes

The roomy homes around Crawford Road/Damson Road fetch a mid-to-high price per square foot. Recent sale prices generally fall in the upper tier of the Lynnwood market. Rentals are not common, and there are no large apartment complexes in the neighborhood.

As you’ll find throughout Lynnwood, prices are changing quickly as more people seek to call this area home.

Education

The well-regarded Edmonds School District serves most of the area around Crawford Road. Local families generally send their kids to Hilltop Elementary School, Alderwood Middle School, and Lynnwood High School.

Some parents also opt for one of several private schools within about 5-10 miles of the neighborhood.

Transportation

Like most of Lynnwood, the Crawford Road/Damson Road area is roughly halfway between Seattle and Everett.

The neighborhood has good freeway access, being just minutes south of the I-5/I-405 interchange. And only 3 miles away, an upcoming light rail station will give locals a great option to leave town—and leave their cars behind.

Recreation

Close to home, residents can enjoy the fresh air and greenery at Logan Park. This five-acre county park is located just southwest of the neighborhood, and is one of dozens of others within a few minutes’ drive.

Seattle’s big-city amenities and Everett’s burgeoning cultural scene are both readily accessible, and outdoorsy types enjoy easy access to the Cascades via Highway 2.

Moving to Crawford Road/Damson Road in Lynnwood

It’s easy to see why so many out-of-towners opt for the Crawford Road area, and why plenty of Lynnwood locals hope to own their first house here.

If you’d like to call it home, too, then here are three tips for an easy transaction and transition.

1. Don’t be scared!

Remember that a big part of your agent’s job is to help you stay on top of all those moving pieces!

2. Find a local expert to guide you

Speaking of agents, it’s essential to find someone who knows Crawford Road and its vicinity like the back of their hand.

Agents who can fill out paperwork are a dime a dozen, but there’s no substitute for the street-by-street knowledge of someone who actually lives and works in the Lynnwood area.

3. Talk to lenders & get pre-approved

Before doing anything else, it’s important to consult a lender and have a mortgage pre-approval in hand.

This will let you move quickly and make a successful offer—fingers crossed!—once you’ve found the ideal Crawford Road/Damson Road home.

A Temporary Rate Buydown

Home Buyer July 1st, 2022 David Haley

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FHA – Increase in Mortgage Insurance – No April Fools Joke!

Blog, Down Payment, FHA, Home Buyer, Home Seller, Loan, Mortgage, Real Estate, Refinance Lynnwood Mortgage Loan Officer February 28th, 2012 David Haley Mortgage Loan Officer

April 1st of 2012 will not be a good April Fool’s joke – once again FHA has been looking at their overall solvency concerns and has deteremined they need to pass along the added costs to the new borrowers.

The UFMIP will be increased from 1 percent to 1.75 percent of the base loan amount. This increase applies regardless of the amortization term or LTV ratio. FHA will continue to permit financing of this charge into the mortgage. This change is effective for case numbers assigned on or after April 1, 2012. Example: Loan Amount = 100,000.00 new Upfront Mortgage Insurance Premium is 1.75% = 1,750.00 being financed into new loan.

The Temporary Payroll Tax Cut Continuation Act of 2011 requires FHA to increase the annual MIP it collects by 0.10 percent. This change is effective for case numbers assigned on or after April 1, 2012. FHA is also exercising its statutory authority to add an additional 0.25 percent to mortgages exceeding $625,500. This change is effective for case numbers assigned on or after June 1, 2012. UPDATE: Here is the HUD LINK

So for quick examples and here is the easiest equation. Take your loan amount 100,000.00 time new Monthly Mortgage Insurance Cost of 1.25% = 1,250.00 then divide this number by 12 to give you the Monthly Mtg Ins Premium Cost = 104.17 per month vs. the old MI factor of 1.15% = 1,150.00 / 12 = 95.83 per month.

Now these are all numbers based on if you are only putting the 3.5% minimum investment down for this type of loan.

Taken together, these premium changes will enable FHA to increase revenues at a time that is critical to the ongoing stability of its Mutual Mortgage Insurance (MMI) Fund, contributing more than $1 billion to the Fund, based on current volume projections through Fiscal Year 2013.

Should you have any questions please give contact me.

Mortgage Insurance, Not a Tax Deduction?

Blog, Down Payment, Fannie Mae, FHA, Freddie Mac, Home Buyer, Mortgage, Real Estate, Refinance, VA Loan, Zero Down Loan Lynnwood Mortgage Loan Officer December 30th, 2011 David Haley Mortgage Loan Officer

Mortgage-Insurance

Going forward Mortgage Insurance will no longer be able to be a line item deduction after 12/31/2011. As a Mortgage Insurance Company has reminded us: United Guaranty MI company. “MI tax deductibility is scheduled to lapse at midnight, December 31, 2011, now’s the time to expedite them to retain this benefit for your borrowers who qualify! MI tax deductibility will also lapse for FHA and VA loans, which were extended under the same law as private MI.”

As we found out last week, g-fees for new agency loans will be going up to pay for the two-month payroll tax cut.Under the “unintended consequences” banner analysts were quick to point out that, given the increase is scheduled for ten years, Fannie Mae and Freddie Mac are not going away any time soon unless the government comes up with the money elsewhere. F&F will not absorb this increase, nor will lenders; it will, of course, be passed on to borrowers. (The bill also will raise the annual insurance premium borrowers pay on FHA loans by one-tenth of a percent.) The increased g-fee, which makes it difficult for Congress to work on efforts to shut down Fannie and Freddie, based on current rates and a $200,000 loan, will cost the agency borrower about $11 per month. “These institutions, which have been so costly to Americans and are so necessary to the housing recovery, should not be the piggy bank for future arbitrary tax policy,” Dave Stevens (MBA) said. Due to their government ownership, investors still view their (and FHA/VA) MBS’s as safer investments than those offered by private firms. The law allows FHFA to phase in the fee over two years.
So, if you were lucky enough to close your home loan before 12/30/2011 Congratulations!

*As always seek a qualified CPA who can further assist you.* This is not to be construed as tax advice, informational purposes only!

We are hoping that the House of Representatives will continue to extend this tax credit to home buyers, as this is a benefit when you purchase a home and have less than 20% down payment. Make sure you contact your local Representative, Congressman, Senator, or local delgate. We need to extend this tax credit / deduction! As this will only help our real estate markets

Should you have any questions please contact me.

VA Loan – Risk Assessment

Blog, Home Buyer, Loan, Mortgage, VA Loan Lynnwood Mortgage Loan Officer December 27th, 2011 David Haley Mortgage Loan Officer

In case some of you were not able to make it to the online web discussion – here is one of the biggest items we targeted on. VA loan and Risk Assessments:

Last Week’s Questions & Answers: 12/20/2011

Q: Did you know that there have been updates in DU to the Credit Risk Assessment for VA Loan casefiles?

A: During the weekend of Dec. 17, 2011, there were updates to DU for VA loan casefiles and evaluating
credit risk assessment. You may see loans impacted as follows:

Overall improved credit characteristics for loan
casefiles may receive an Approve recommendation

A change in the underwriting recommendation for some
loan casefiles. For example, some loan casefiles that previously received an Approve recommendation may now receive a Refer recommendation, particularly ones with back-end debt-to-income ratios over 45%.

Reduced Approve recommendation rates. The overall
reduction may vary by customer depending on the credit characteristics of the VA loan casefiles submitted to DU.

VA Loan casefiles created on or after the weekend of Dec 17, will be evaluated using the new credit risk assessment. In addition, VA loan casefiles created prior to Dec 17, and resubmitted to DU for any reason (i.e. change in appraised value) on or after the weekend of Dec 17, will be evaluated using the new credit risk assessment if there are any changes to any key credit characteristics of the loan casefile (e.g. LTV).

When we run to find out if a home buyer for a VA Loan will qualify we run it through an automated underwriting system. This will give us specific criteria and tolerances for our loan approvals.

Should you have any questions please contact me.

Seattle VA Loan Limits 2012

Blog, Home Buyer, Lynnwood, VA Loan Lynnwood Mortgage Loan Officer December 16th, 2011 David Haley Mortgage Loan Officer

VA just released their new loan limits for Seattle, Snohomish, Everett, Tacoma, Lynnwood, Shoreline Area and Surrounding Counties:

King: $458,850 | Snohomish $458,850 | San Juan $432400 | Pierce $458,850

This will allow for 100% Financing for qualifying miltiary servicemen and women.

http://www.benefits.va.gov/HOMELOANS/docs/Loan_Limits_2012_Dec_2011.pdf

Let me of service to you as you served our country! Thank you

FHA Mortgage – Gift Funds – Bothell, Mill Creek, Lynnwood WA

Blog, Bothell, FHA, Home Buyer, Loan, Lynnwood, Mortgage, Seattle Mortgage, Zero Down Loan Lynnwood Mortgage Loan Officer November 28th, 2011 David Haley Mortgage Loan Officer

Gift funds still allowed for Home Buyers seeking to become a home owner, with home prices that are compared to 2000-2003 prices, and with today’s low interest rates, often times you can get into a home lower than what your rent payments are.

Gift funds can come from family members and all that is needed is 3.5% for your down payment, so if you were to purchase a home for as little as 150,000.00 then you will only need: 5,250.00 as a gift down payment.

There are other ways that you can accomplish this down payment if you choose to not receive a gift from your family, you can take a loan on your 401k up to 10,000.00 when you are a First Time Home Buyer.

When you are ready to go out and begin the home search make sure you have your finances, credit, and employment all worked out, by this I mean get pre-approved before you take the step to go out and look for your home. You must know what your payment and debt to income ratios will be, as well as what you can truly afford.

Buying a home can be easy when you have the right steps done in the right order, believe me, make sure you know what you can truly afford before you go out looking for a home.

Stanwood-listing-003 Who can qualify for a FHA Home loan, just about anyone, you do not have to be a first time home buyer! If you have owned a home before that is fine, you can have one FHA loan at a time, is the main guideline, however some exceptions have been seen before.

So to quickly summarize you can still purchase a home Zero Down* if you do receive a Gift! Should you seek more information and want to know what you qualify for go to the top right side of the website, click “Apply Now” and put David Haley as the loan officer and I will be glad to help you get started to owning your new home!