USDA Zoning Map Update (2014)

As you may or may not be aware, 2014 is the year the area(s) USDA eligible properties exist is slated to be reduced, quite a bit. The USDA website provided an update on the progress of this change this week, it looks like the new zoning map will go into effect on October, 1st of this year. That means that if you have any clients that are planning on financing their home purchase with a USDA Mortgage, they should do it sooner, rather than later. I’ll post an image of the update from the USDA Site below.

USDA - UpdateJV

 

(Click Image for USDA Website & Image Source)

Sooner rather than later is the key in this case, from what I understand the zoning (which is now quite liberal as far as what is labeled as “rural”) is going to get much more strict. If you’re not familiar with the USDA Mortgage, it is one of the few “no down payment required” loan programs out there, and the (monthly) Mortgage Insurance is much cheaper than FHA, for example. If you’re a homebuyer and want to use the USDA program to buy your home, let’s talk soon! If you’re a realtor/agent and you have clients that want to, or that you think should be using the USDA program, let’s talk soon!

Northwest Mortgage Company Hits Home Run at Safeco Field

Pinnacle Capital Mortgage Corporation Proudly Accepts Washington’s Best Award 
 
wa_best_workplace

Seattle, WA- Puget Sound Business Journal announced last night during an awards banquet at Safeco Field that Pinnacle Capital Mortgage Corporation (Pinnacle) is ranked as a best workplace in the state of Washington. Pinnacle (the parent company to Absolute Mortgage) and its’ employees are very proud to be a part of this honor; Washington’s Best Workplaces 2013.

This is the first year Pinnacle has been ranked as a Washington’s Best Workplace. Over 37,000 employees from 334 different companies were surveyed on company-wide communication, training and education, responsibility and decision making, performance standards, rewards and recognition, benefits, leadership of executives, work environment, hiring and retention, corporate culture and company importance to employees. The official ranks will be available at www.bizjournals.com/seattle/.

“It’s a great honor to be recognized as one of Washington’s Best Workplaces for the Puget Sound area,” Regional Sales Manager, Craig Davis said, “We strive for a positive and genuine culture that supports our employees and customers every day.” He continues on to say, “This is the foundation we stand on; everything else follows. Thank you to all that contribute to Pinnacle’s success as a Best Workplace!”

Puget Sound Business Journal contracted Quantum Workplaces, an Omaha based company, to administer, track and analyze the survey composed of comprehensive and open-ended inquiries. Each company had to fulfill several particpation requirements to be considered as a finalist. Only finalists were invited to participate in the employee surveys. Upon the survey deadline, the responses were tabulated and a raw score was given. The rank is a result of the raw score. This contest was free to enter and open to the public. Ranking information remained private until the event.

Pinnacle Capital Mortgage Corporation is headquartered in Roseville, California with branches located throughout California, Oregon, Washington, Nevada, Idaho, Montana, Arizona, Utah, New Mexico and Colorado. For more information please visit www.pcmcorporate.com.

Pinnacle Capital Mortgage Corporation
3010 Lava Ridge Court, Suite 220
Roseville, CA 95661Contact. Danielle LaMarre
PR & Social Media Manager
Phone: 971.250.4854
DLamarre@pcmloan.com

For more information on the topic or to schedule an interview with Craig Davis please contact me at DLamarre@pcmloan.com or 971.250.4854.

Pinnacle Capital Mortgage Corporation was founded in January 2008 with the knowledge and efforts of highly experienced lending professionals, with excellent reputations in the mortgage banking field. With this vast pool of experience, we have grown quickly to become a true contender in this industry. This growth was achievable as a result of the quality of people that helped form and create what we call Pinnacle Capital Mortgage Corporation.

Teamwork. Empowerment. Positivity. Excellence. These four core values describe Pinnacle Capital Mortgage Corporation. Headquartered in Roseville, California with locations throughout the West coast and growing; we all share one vision and practice our core values. We strive to provide only the best possible service to our clients and partners and hold great value in being the mortgage lender our consumers turn to.

Comparing Fixed Rate and Adjustable Rate Mortgage Options

Applying for a mortgage is an essential step to take when purchasing a new home—but with so many options available, choosing the right mortgage terms to fit your needs can be a difficult task. Before you start the application process, educate yourself on fixed rate and adjustable rate mortgage loan options:

Fixed Rate Mortgage

A fixed rate mortgage allows for the repayment of debt utilizing equal monthly payments over a specified period of time. Most fixed rate mortgages are broken down into 15 or 30 year terms in which the interest rate never changes. Fixed rate mortgages offer home buyers a number of benefits: For example, because the interest rate is fixed, homeowners are not affected if the overall market interest rates increase. In addition, a borrower can choose to make larger monthly payments and direct the additional portion of the payment toward the principal, ultimately decreasing the principal balance at a faster rate.

Adjustable Rate Mortgage

An adjustable rate mortgage (ARM) is one in which the interest rate is periodically adjusted based on the changes of a specific index, including the one-year Treasury Bill. This means that a homeowner’s monthly payments may increase or decrease with little notice. Lenders tend to charge lower initial interest rates for adjustable rate mortgages, which may make them less expensive over time if the rates do not change. This feature also makes an ARM ideal for potential buyers who only plan on living in a house for a few years.

The easy way to determine which mortgage loan is right for you is to consult with your Bellevue-area mortgage company. For more information on mortgage loans, refinancing, or consolidating debt, call Ryan Bukoskey at (425) 770-0725 or email at ryan@ryanbukoskey.com

Seattle housing market one of the most competitive in the US!

Low inventory and interest rates are why Realtors call Seattle one of the most competitive housing markets in the country.

“Seattle is just crazy bonkers. Most of our listings are going in 30 days,” said Al Uyeno, a local Realtor.

According to Uyeno, a declining unemployment rate of 5 percent and an uptick in hiring has increased the number of buyers in an already tight market.

“We’ve got Amazon, we’ve got Boeing, we’ve got Microsoft all hiring and all these people are coming here from out of state so they have to have some place to live,” said Uyeno.

According to the Northwest Listing Service, The median price of homes in Snohomish County is up 14 percent, and up 10 percent in both King and Pierce Counties.

“Good houses are disappearing instantly, you look at it one day online and say honey maybe we should look at this Sunday. By then, it’s already pending,” said Charles Harper, a home buyer – See full article HERE.