FHA Mortgages: Today's Best Deal

Guest post from Darel Ansley, Mortgage Lender, at Peoples Bank in Wenatchee:

Just about everything is in place to stimulate the housing markets, prices and rates are lower, and banks have money to lend. I think the only problem is the media has the potential buyers scared to come out of their bomb shelters to see if the coast is clear.
Here are a couple ideas to share with past prospects who never bought:

FHA rates are down to 4.875%, the buyer just needs 3.5% down, but that can come from a relative. The loan limits are $342,700 in Chelan/Douglas and $271,050 in Okanogan/Grant counties.

For an amazing deal, if a buyer will move into one unit of a duplex, triplex or 4-plex, the hole thing is considered owner-occupied, they can count the other rents towards their income, and they only need 3.5% down. Loan limits for a duplex are $438,700 in Chelan/Douglas and $419,425 in Okanogan Grant, and much higher for 3 and 4 plex.

With Today's rates and prices, I'll bet the 3 or 4 plex rents would almost completely cover the buyers mortgage payment.

Let's get the word out to the consumers ourselves, because the press isn't going to do it for us.



You can learn all about<a href="http://portal.hud.gov/portal/page?_pageid=73,1827594&amp;_dad=portal&amp;_schema=PORTAL" rel="nofollow"> FHA Loans on the HUD website</a>. If this sounds like it might work for you and you qualify, you would apply through a local mortgage lender or bank that is approved to write these loans. I believe that People's Bank in Wenatchee does FHA Loans, but I don't think Cashmere Valley Bank is currently offering them.


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Allyson and Geordie Romer

Leavenworth real estate agents - Allyson and Geordie Romer

For over a decade, Allyson and Geordie have been serving clients in the Leavenworth-area real estate market. Together, they work tirelessly to stay on top of the regional market and present the most relevant opportunities to their clientele.

When not in the office, they can be found exploring the endless recreation opportunities of the area in all of its seasons.




Geordie provided excellent real estate representation! We appreciated his detailed knowledge of the market, his up front and honest approach, and his negotiation skills.
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- Laura Anderson



As “west siders” looking for a getaway near Leavenworth, Geordie provided insight … his knowledge of design features important in a “snowy winter wonderland” was appreciated. Thanks Geordie!
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- Jean Stern



Geordie made this somewhat complicated transition easier for us…going above and beyond to help us work through issues that came up during the sale of our parents home. We appreciated his knowledge, attentiveness to details and his willing spirit.
Our family is grateful for Geordie!
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- Terry Foster



Geordie was great in every way. We have been looking in the Leavenworth area for some time, and Geordie was absolutely the best for local knowledge, history and depth on neighborhoods, developments and the local market trends. He was very quick to respond (even when he was on his vacation) and worked very diligently to get all of our questions answered in a very timely fashion. We would recommend him highly to anyone looking to buy or sell a home. Very friendly, and helped us navigate all of the local options before we made an offer on the property that we purchased. Thank you, Geordie!

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- Ryan Olsen



It was such a pleasure to work with Geordie and his wife, Allyson on our cabin purchase. They showed us a variety of locations, listened to what we wanted and helped us find the perfect match. Everything was smooth and not stressful, just relaxed and easy. We would definitely recommend Geordie and use him again if the need arises!

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- Cammie Schlosser


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