Lynnwood | Fairway Independant Mortgage Corporation

Should You Wait Until Interest Rates Drop?

Featured Articles, FHA, Home Buyer, Lynnwood, Mortgage February 5th, 2025 David Haley

Waiting for a lower rate might slightly reduce your monthly payment, but rising home prices and lost equity-building opportunities often outweigh the benefit. Buying sooner allows you to lock in your home’s price and start building long-term wealth. Plus, if rates drop later, you can always explore refinancing to lower your payment—while rent typically keeps increasing.

Meet Sarah, a first-time homebuyer. She is looking at a $500,000 home. At a 7%* interest rate on a 30-year mortgage, her monthly principal and interest payment would be around $3,326*. She thinks about waiting a year, hoping rates drop to 6%*. At 6%*, the monthly payment on a $500,000 mortgage is about $2,998*—a clear savings.

But if prices rise in the meantime—say that $500,000 home jumps to $525,000—Sarah’s monthly payment at 6% becomes $3,147*, which is closer to what she would have paid at 7%* anyway. Meanwhile, she’s missed out on a year’s worth of potential equity and possibly paid rent instead.

Disclaimer: The values marked with * are rough estimates for informational purposes only. Actual amounts may vary based on individual circumstances, market conditions, loan terms, and other factors. This does not constitute financial advice—please consult a professional for precise calculations and guidance.

Opportunity for Growth: By purchasing now, Sarah locks in today’s home price and starts building equity right away. Even if rates drop later, she could refinance to secure a lower payment—but she won’t miss out on potential appreciation or continue throwing money at rent.

Opportunity Cost of Waiting: If Sarah waits and prices climb, that extra cost may offset—or even exceed—her savings from a slightly lower interest rate. Over the long term, missing out on appreciation and the chance to build home equity can be a bigger setback than paying a bit more in interest initially.

Unsure What’s Right for You?
At David Haley Mortgage, we help first-time buyers weigh the pros and cons of buying now vs. waiting—so you can make a smart choice for your future. Contact us today to explore your options!

Refinancing Your Home to Pay Off Student Loans: Key Benefits

Loan, Lynnwood, Mortgage, Refinance October 27th, 2024 David Haley

Refinancing your home to pay off student loans offers a streamlined, cost-effective way to manage debt. Here’s why it’s a good idea:

One Monthly Payment: Combining student loans with your mortgage simplifies repayment, making budgeting easier.
Flexible Terms for Financial Relief: You can adjust the mortgage term to reduce monthly payments, freeing up cash for other priorities.
Potential Tax Savings: Mortgage interest may be tax-deductible, creating added financial benefits.

Watch the video below to hear David discuss how home refinancing can make tackling student debt simpler and more financially beneficial.

“Got 90 Seconds? Watch to Discover a Smarter Way to Pay Off Student Loans!”

Finding the Right Place to Buy a Home in Lynnwood, Everett, and Bothell: A Practical Guide

Featured Articles, Lynnwood July 27th, 2024 David Haley

Buying a home is one of the biggest decisions you’ll make, and choosing the right location is key. Whether you’re working with a tight budget, raising kids, planning for a big family, or just starting out as newlyweds, Lynnwood, Everett, and Bothell each have something unique to offer. Here’s a straightforward guide to help you figure out which city might be the best fit for you.

Criteria	Lynnwood, WA	Everett, WA	Bothell, WA
Proximity to Seattle	Easy access via I-5 and public transit	Further distance, leading to longer commutes	Close to tech hubs like Redmond and Bellevue, attracting professionals
Affordability	Moderately priced, with growth in new construction	Generally more affordable housing	Higher home prices compared to Lynnwood and Everett
Employment Opportunities	Diverse job market, proximity to major business centers	Close to Boeing and other major employers	Proximity to tech industry hubs
Shopping and Amenities	Home to Alderwood Mall, variety of restaurants, entertainment options	Ongoing downtown revitalization efforts	Strong community atmosphere with local events
School Districts	Strong public schools, well-regarded educational facilities	Adequate public schools, but some may require improvement	Excellent public and private schools, ideal for families
Traffic Congestion	Increasing traffic, especially around mall and highways	Less congested than Lynnwood but increasing	Significant congestion during rush hours on SR-522 and I-405
Access to Nature	Good access to local parks and trails	Close to Puget Sound and outdoor recreation areas	Abundant parks, trails, and green spaces
Urbanization	Rapid growth leading to potential overdevelopment	Balanced growth, with a mix of old and new	Controlled growth, with a focus on maintaining community and green spaces
Property Taxes	Slightly higher property taxes compared to Everett	Generally lower property taxes than Lynnwood and Bothell	Higher property taxes compared to Everett, reflective of higher home values
Housing Stock	Modern homes and diverse housing options due to new construction boom	Older housing stock, with some homes requiring updates or renovations	Mix of older and newer homes, with some high-end developments
Public Transit	Well-connected with public transit options	Adequate public transit options, but less extensive	Limited public transit options compared to Lynnwood
Weather	Typical Pacific Northwest weather, moderate rainfall	Slightly wetter and cloudier than Lynnwood and Bothell	Similar to Lynnwood, with slightly better overall weather conditions
Community Atmosphere	Growing urban feel with ongoing development	Developing downtown, with efforts to enhance community spaces	Strong sense of community, with various local events and activities

Best Place for a Tight Budget: Everett, WA

Why Everett?
If you’re looking to stretch your dollar, Everett is the most budget-friendly option among these three cities. Homes here are generally more affordable than in Lynnwood and Bothell, making it a great choice for first-time buyers or anyone looking to get the most value for their money.

Pros of Buying in Everett:

Affordability: You’ll find lower home prices compared to nearby cities.
Job Opportunities: Major employers like Boeing provide solid job prospects.
Outdoor Access: Plenty of parks and waterfront areas for weekend fun.

Cons:

Longer Commute: It’s a bit farther from Seattle, which means longer drive times if you work in the city.
Older Homes: Many houses might need some updating.

Bottom Line: Everett is the best choice if you’re on a budget but still want a decent home with access to jobs and nature.

Best Place for Raising Kids: Bothell, WA

Why Bothell?
Bothell is a top pick for families, thanks to its excellent schools and safe neighborhoods. The city has a strong sense of community, with lots of parks and family-friendly activities, making it a great place to raise kids.

Pros of Buying in Bothell:

Great Schools: Some of the best schools in the area, both public and private.
Safe and Friendly: A low crime rate and welcoming neighborhoods.
Community Feel: Lots of parks, trails, and events that bring people together.

Cons:

Higher Prices: Homes here are more expensive, so you’ll pay a premium for all those perks.
Traffic: Rush hour can be a pain, especially on the main roads.

Bottom Line: Bothell is ideal for families who prioritize good schools and a safe environment, even if it means paying a bit more.

Best Place for a Large Family: Lynnwood, WA

Why Lynnwood?
Lynnwood offers plenty of space for bigger families, with larger homes and easy access to shopping, dining, and other conveniences. It’s a good balance between cost, space, and accessibility.

Pros of Buying in Lynnwood:

Roomy Homes: You’ll find plenty of large houses that can accommodate a growing family.
Convenient Location: Close to major highways, shopping centers like Alderwood Mall, and public transit.
Newer Homes: Lots of new developments with modern features.

Cons:

Traffic: With all the growth, traffic can be an issue, especially near the mall.
Higher Taxes: Property taxes here are generally higher than in Everett.

Bottom Line: Lynnwood is great for large families who need space and want to be close to everything.

Best Place for Newlyweds: Bothell, WA

Why Bothell?
For newlyweds starting their life together, Bothell is a great choice. It’s close to tech hubs like Redmond and Bellevue, has charming neighborhoods, and offers a mix of urban and suburban life.

Pros of Buying in Bothell:

Great Lifestyle: Beautiful parks, nice restaurants, and cultural activities.
Career Opportunities: Close to tech jobs and other growing industries.
Room to Grow: A good investment with potential for property value increases.

Cons:

Higher Cost of Living: Homes and day-to-day expenses can be higher here.
Less Public Transit: Getting around without a car can be tough.

Bottom Line: Bothell is perfect for newlyweds looking for a lively, growing community with good job prospects and plenty to do.

Final Thoughts

Deciding where to buy a home in Lynnwood, Everett, or Bothell comes down to what’s most important to you. Everett is the best bet if you’re watching your budget, while Bothell shines for families and newlyweds with its great schools and vibrant community. Lynnwood is the sweet spot for large families who need space and want to be close to shopping and entertainment. Whatever your needs, one of these cities is sure to be a great fit.

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!

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 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.

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!

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 Martha Lake Neighborhood

Blog, Lynnwood June 11th, 2023 David Haley

Martha Lake is a popular and rapidly growing neighborhood in Lynnwood, Washington. As of the 2020 Census, it’s home to just over 7,300 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 ten minutes northeast of the lively commercial areas around Alderwood Mall.

Homes

The roomy homes around Martha Lake fetch a fairly 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 are a couple apartment complexes along the neighborhood’s southern edge.

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 the majority of Martha Lake and several adjoining areas. Most local families attend Oak Heights Elementary School, Alderwood Middle School, and Lynnwood High School.

The northernmost portion falls within the Mukilteo School District, and attends Discovery Elementary School, Voyager Middle School, and Mariner 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, Martha Lake is roughly halfway between Seattle and Everett.

The neighborhood has good freeway access, being adjacent to I-5 and just minutes north of the I-5/I-405 interchange. Five miles south of Martha Lake, 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 Martha Lake Park and the former Martha Lake Airport, which was converted to a large park after the airfield’s closure. 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 Martha Lake in Lynnwood

It’s easy to see why so many out-of-towners opt for Martha Lake, 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 Martha Lake 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 Martha Lake home.

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!

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

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.

						Truly amazing process, support, & communication, so grateful for the guidance in a process that seemed so scary in the beginning, to feeling confident as a first time home buyer! Thank you!			
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B. C.		3/08/2025
						Truly amazing process, support, & communication, so grateful for the guidance in a process that seemed so scary in the beginning, to feeling confident as a first time home buyer! Thank you!			
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B. C.		3/07/2025
						They're great working with people and their timely manner and they're pretty awesome			
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P.		3/04/2025

						They're great working with people and their timely manner and they're pretty awesome			
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P.		2/27/2025
						I'd like to give a huge shoutout to David for being nothing short of amazing while buying my first home. Not only did he answer every question quickly, there were few questions in the first place because he was very thorough, but also explained everything in such a way that made sense. He helped move everything along quickly and efficiently. He was very personable and made me feel at ease about the whole process. Definitely will recommend him to all my friends and family.			
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T. B.		1/30/2025
						David is absolutely fantastic and has been such a blessing to work with throughout the process of buying our new home! He really breaks everything down for you, makes you feel confident without any questions left unanswered and works quickly to help you make your dreams a reality! Can't recommend enough!			
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K. G.		1/30/2025

Best Place for a Tight Budget: Everett, WA

Best Place for Raising Kids: Bothell, WA

Best Place for a Large Family: Lynnwood, WA

Best Place for Newlyweds: Bothell, WA

Final Thoughts

Homes

Education

Transportation

Recreation

Moving to Alderwood Manor South in Lynnwood

1. Don’t be scared!

2. Find a local expert to guide you

3. Talk to lenders & get pre-approved

Homes

Education

Transportation

Recreation

Moving to Alderwood Manor in Lynnwood

1. Don’t be scared!

2. Find a local expert to guide you

3. Talk to lenders & get pre-approved

Homes

Education

Transportation

Recreation

Moving to Martha Lake in Lynnwood

1. Don’t be scared!

2. Find a local expert to guide you

3. Talk to lenders & get pre-approved

Schedule a Consultation

Contact Information