Author Archives: paulmcfadden

About paulmcfadden

I am a mortgage loan officer with the Legacy Group in Bellevue, WA. I have been in the business for almost five years now and feel very fortunate to work for such a great company that is employee-owned. In my spare time, I love the outdoors and working out, like to read all kinds of things, love spending time with my first grandson Sam, and all things food and wine!

The latest on jumbo loans

Good morning! I wanted to update you on the jumbo loan market in Bellevue, WA. The jumbo loan market is changing. As most of you may be aware, the new conforming jumbo loan limit for King, Pierce and Snohomish counties … Continue reading

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The 4 C’s of Lending

Hi all: How are you? I was thinking this morning about the 4 C’s of Lending. Here they are. Credit, Collateral, Character, and Capacity. What do I mean by each? 1) Credit is fairly obvious. Your credit score will determine … Continue reading

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How mortgage interest rates are determined

Good afternoon! I hope you’re well. I wanted to touch on how mortgage interest rates are determined. The layperson in you may not know or may think that interest rates are tied to the Federal Reserve Board and its rates. … Continue reading

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How to correctly shop for a mortgage

Hi all: I hope your Wednesday is treating you well! I wanted to give all of you some tips about how to correctly shop for a mortgage. I think most of us want a painless process as we’re so busy … Continue reading

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Financing a condo. that is in litigation

Hello all: I hope you’re having a great day and have big weekend plans. I wanted to share with you an experience I recently had. I recently was approached by a couple who wanted to buy a downtown Seattle condo. … Continue reading

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Construction Loans in 2011

Hi all: I hope you’re well. The construction lending landscape has changed drastically in the past four years. I was having a conversation with one of my colleagues the other day and we were reminiscing about the day that the … Continue reading

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These days some people are opting for shorter mortage terms

Hello everyone. And the rain continues in the great Pacific Northwest! I recently saw a statistic that more borrowers are opting for fixed mortgages that are less than 30 years. The resurgence of the 15 and even the 10 year … Continue reading

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