Blog | Dan Chapman Loans

How Big of a Mortgage Can You Really Afford?

Aug 11, 2017 | Home Buying Process, Mortgage 101 | 0 comments

According to GeekWire, the median home price in Seattle hit a staggering $819,500 in March – the highest it’s ever been. For many borrowers, even if they are approved for that much, it’s more than they can reasonably afford. Take a moment to crunch your own numbers to...

Can You Make an Offer on a Pending Sale?

Jul 11, 2017 | Mortgage 101 | 0 comments

On what homes can you make an offer? Are homes marked ‘sale pending’ off limits? Nope! You can still make an offer. ‘Sale pending’ means the buyer and seller are still negotiating their purchase agreement. You can make a backup offer. If the sale falls through, you...

5 Ways to Make the Next Open House You Attend a Success

Jun 23, 2017 | Home Buying Process | 0 comments

Let’s face it. House hunting can be a lot of work. This is especially true in today’s competitive market when open houses are as quick to be scheduled as the homes are to sell. In hot markets like the Seattle area, where inventory is low and demand is high, you need...

2017 Changes to Fannie Mae and Freddie Mac Backed Mortgages

May 12, 2017 | Mortgage 101 | 0 comments

Roughly half of all mortgages in the US are backed by Fannie Mae and Freddie Mac. That’s a huge percentage! And, in late 2016 and early 2017, these organizations made a few changes to their processes. Do you plan to secure a mortgage backed by Fannie Mae or Freddie...

Awesome Ways to Make Your Mortgage Payment

Apr 27, 2017 | Mortgage 101 | 0 comments

No matter how you slice it, your mortgage payment can take a big slice out of your monthly budget. Whether you’re interested in paying off your mortgage early or you simply want some help covering this monthly expense, these awesome ways can help. Get a Roommate...

Should You Buy if You Can’t Put 20% Down?

Feb 25, 2017 | Mortgage 101 | 0 comments

For many first-time buyers, saving for a down payment is often the most challenging hurdle they face on the path to home ownership. Most of these first-time buyers assume they must put down 20% of the purchase price. That’s some heavy coin! But the truth is – you...

Is it Time to Stop Renewing Your Lease and Buy?

Jan 31, 2017 | Home Buying Process | 0 comments

Does your monthly rent payment feel a bit like dumping money down the drain? Have you been dreaming about DIY remodeling projects and paint swatches? Homeownership comes with a lot of perks. But it’s not as simple as trading in your rent payment for a mortgage. Before...

Simple Tips to Save on Homeowner’s Insurance

Dec 22, 2016 | Home Maintenance | 0 comments

Not carrying homeowner’s insurance isn’t a way to save money. It’s a way to gamble with the roof over your head. And that’s not something with which you want to gamble. What happens if a freak windstorm blows a tree into your house or a burglar causes major damage to...

How Does a Refi Work?

Nov 28, 2016 | Mortgage 101 | 1 comment

A refi is the process trading your current home loan for a new one – complete with a new interest rate and terms (aka refinancing). But, how does the whole thing work? In a nutshell – refinancing is pretty much like securing your original mortgage. There are two main...

What’s the Real Cost of a Fixer-Upper?

Oct 21, 2016 | Home Buying Process | 0 comments

The fixer-upper. It’s an instant gold mine, right? Maybe. Home improvement TV shows make remodeling look like a snap. That’s because those folks are experts with a crew and supplies at the ready. Unfortunately, for those of us who aren’t home improvement experts,...