This trend offers a breath of fresh air for buyers. As a recent Bankrate article highlights, this drop in rates somewhat eases the housing affordability squeeze. Further emphasizing this point, Edward Seiler, AVP of Housing Economics and Executive Director of the Research Institute for Housing America at the Mortgage Bankers Association, notes that the MBA anticipates continued improvement in affordability conditions as mortgage rates decline.

The Impact of Mortgage Rates on Your Home Search

Grasping how mortgage rates affect your monthly home payment is essential in your journey towards homeownership. For instance, if your budget is in the $2,400 to $2,500 monthly payment range, even slight rate fluctuations can significantly influence your budget and the loan amount you can afford.

Seek Guidance from Evergreen Home Loans Experts

When considering a home purchase, it's crucial to consult with knowledgeable professionals. At Evergreen Home Loans, our team is ready to guide you through various mortgage options, helping you understand the factors influencing mortgage rates and how these fluctuations impact your purchasing power.

By examining current data and adjusting your strategy to align with today's rates, you'll be better equipped and confident in your homebuying journey.

For those planning to buy a home, the recent downward trend in mortgage rates is encouraging news. Partner with Evergreen Home Loans, and let's strategically plan your next steps in the homebuying process. Contact your local Evergreen Loan Officer for a free consult today!

Source: Keeping Current Matters

Why We Do It: Creating Stability and Generational Wealth

Nicole Bachaud, Senior Economist at Zillow, underscores the enduring allure of homeownership: “The American Dream is still owning a home. There’s a lot of pent-up demand for ownership; that isn’t going to go away.” We at Evergreen Home Loans are committed to turning this dream into a reality for our clients, not just as a place to reside but as a foundation for long-term financial security and generational wealth building.

The Financial Advantages of Partnering with Evergreen Home Loans

Our unique approach centers around making homeownership accessible and affordable. Jessica Lautz, Deputy Chief and VP of Research at the National Association of Realtors (NAR), highlights the importance of homeownership in wealth accumulation: “Homeownership is the number one way to build wealth in America.” By choosing Evergreen Home Loans, you're not just buying a property; you're investing in a future. Our tailored solutions make it possible to build equity, increase financial stability, and set the stage for passing wealth to future generations.

As Habitat for Humanity explains, “Overall, homeownership promotes wealth building by acting as a forced savings mechanism and through home value appreciation.” Our role is to guide you through this process, offering personalized mortgage solutions that lead to accruing equity and enhancing financial independence.

The Emotional and Social Rewards of Your Own Home

The benefits of partnering with Evergreen Home Loans extend beyond the financial. Owning a home brings a sense of achievement, responsibility, and a host of emotional and social rewards. According to a Fannie Mae survey, homeowners cite control over their living space (94%), a sense of privacy and security (91%), and providing a nurturing environment for their family (90%) as top benefits.

Making Your American Dream Come True with Us

If you envision a future filled with freedom, security, and prosperity, Evergreen Home Loans is your ally. With favorable mortgage rates and our commitment to affordable and effective home-buying strategies, now is a promising time to start your homeownership journey.

As you embark on this path, remember that the benefits extend beyond the physical property. As Ksenia Potapov, Economist at First American, notes, “...homeownership remains an important driver of wealth accumulation and the largest source of total wealth among most households.” With Evergreen Home Loans, you're not just gaining a house; you're building a home for today and a legacy for tomorrow.

Choosing to buy a home is a profound decision and a cornerstone of the American Dream. If you're looking to find a place to call your own this year, let your trusted Evergreen Loan Officer guide you through the process. Contact us today to begin your journey towards homeownership.

Source: Keeping Current Matters

Every three years, the Federal Reserve's Survey of Consumer Finances (SCF) reveals eye-opening differences in net worth between homeowners and renters. The latest report indicates that the average homeowner’s net worth is almost 40 times greater than that of a renter. This substantial wealth gap is primarily due to the equity homeowners build as their property appreciates and through consistent mortgage payments.

The Power of Home Equity in Wealth Building

Home equity is a significant wealth builder for many households, often surpassing other assets in contributing to an individual's net worth. This trend spans across various income levels. Homeownership is not just about having a place to live; it's a robust financial strategy that fosters stability and wealth preservation across generations.

At Evergreen Home Loans, we understand that the journey to homeownership is a critical step in wealth building. Our innovative loan products are designed to make this path accessible and rewarding, especially for first-time buyers.

Evergreen’s Innovative Solutions to Homeownership

We offer tailored mortgage solutions to fit diverse financial situations, helping more people transition from renting to owning.

Our CashUp Suite of Products are designed to give buyers a competitive edge in the housing market, enhancing their purchasing power.

For those looking to build their dream home, our Construction Loans offer the flexibility and support needed to turn visions into reality.

Navigating the Current Real Estate Market with Evergreen

With fluctuating mortgage rates and a changing inventory landscape, navigating the real estate market can be challenging. This is where Evergreen Home Loans steps in. Our team of dedicated mortgage advisors will guide you through the opportunities available in today's market, ensuring you find the perfect home to start building your wealth.

Conclusion: The Evergreen Advantage

Owning a home is more than just a lifestyle choice; it's a key to unlocking your financial future. With Evergreen Home Loans, embark on this journey with confidence. Our innovative products and personalized service are here to help you increase your wealth through homeownership, regardless of your income level.

To learn more about how we can assist in transforming your homeownership dreams into a wealth-building reality, connect with your local Evergreen Lender.

Source: Keeping Current Matters

Educational Assistance: Empowering Through Learning

Education is a cornerstone of community development, and last year, the Evergreen Cares Foundation proudly allocated $26,736 towards educational assistance. These funds have opened doors for numerous individuals, providing them with opportunities to learn, grow, and succeed.

Total Giving: A Testament to Generosity

Our total giving for the year reached a remarkable $77,858. This figure represents not just monetary contributions but a significant investment in the future of our communities. Each dollar has been a steppingstone towards creating a more inclusive and supportive society.

Team Giving: A Collective Effort

The heart of our foundation lies in the collective efforts of our team. Last year, our team giving amounted to $74,225. This substantial contribution underscores the commitment and compassion of our employees who go above and beyond to make a difference.

Individual Match: Amplifying Impact

In addition to team contributions, the Evergreen Cares Foundation also focuses on individual efforts through our matching program. Last year, we matched $3,633 in individual donations, effectively doubling the impact of personal contributions to causes close to our employees' hearts.

Supporting a Diverse Range of Causes

Our reach extended to 60 different organizations this year, each working towards unique and important goals. From local charities to national non-profits, our support has helped these organizations to continue their valuable work in various sectors including health, education, social services, and environmental conservation.

Volunteer Hours: The Gift of Time

Beyond financial assistance, our team members have also dedicated their time and skills. This year, a total of 167 volunteer hours were contributed. These hours reflect the spirit of community service that is deeply ingrained in our company's culture.

Looking Ahead

As we reflect on these achievements, we are filled with gratitude for everyone who has supported the Evergreen Cares Foundation. Your contributions, whether financial, in-kind, or through volunteer work, have made a significant impact. As we look to the future, we are excited to continue this journey of giving, learning, and growing together.

Together, we're not just building homes; we're building stronger, more resilient communities. Thank you for being a part of this journey. Here's to another year of caring, sharing, and making a difference!

The Evergreen Cares Foundation is dedicated to enriching our communities through charitable actions. For more information or to get involved, please visit our website.

Understanding Pre-Approval

Pre-approval is a critical phase in your homebuying journey, involving a detailed assessment of your financial situation by a lender to determine your eligibility for a loan and the amount you can borrow. This comprehensive evaluation scrutinizes your financial documents—including W-2 forms, tax returns, credit score, and bank statements—culminating in a pre-approval letter. This letter is not merely an indication of a potential loan amount but a testament to your serious intent and financial preparedness to home sellers.

Evergreen Home Loans elevates this process through unique offerings like the Security Plus Seller Guarantee®, ensuring that your pre-approval not only prepares you for homeownership but also enhances the attractiveness of your offer in a competitive market.

The Importance of Pre-Approval in 2024

The evolving dynamics of supply and demand in 2024 accentuate the necessity of securing pre-approval. Despite improvements in housing affordability and an increase in inventory, the market remains highly competitive due to a lingering shortage of homes and a revitalized interest from buyers, partly driven by recent dips in mortgage rates.

In such a landscape, a pre-approval letter is your leverage. It signifies to sellers that you're a serious buyer, backed by a thorough financial vetting. This advantage is crucial in distinguishing your offer from others, facilitating a smoother and more efficient buying process by minimizing potential delays and complications.

Industry experts, including Greg McBride, Chief Financial Analyst at Bankrate, underscore the value of pre-approval as a reflection of a lender's in-depth financial examination, which bolsters your credibility among sellers.

If you’re looking to purchasing a home in 2024, remember that pre-approval transcends a mere procedural step; it's a strategic asset. It provides you with a definitive understanding of your financial capacity, enabling you to confidently and effectively engage in the housing market. With the shifting dynamics of supply and demand, possessing a pre-approval letter can significantly elevate your offer, setting you apart from the competition.

At Evergreen Home Loans, we're committed to supporting you throughout your journey towards homeownership. With our expertise, resources, and unique tools we're here to guide you every step of the way. Our dedicated team of professionals is always ready to provide you with personalized advice and solutions that best fit your needs. Whether you're buying your first home, refinancing, or looking for investment properties, Evergreen Home Loans is your trusted partner, ensuring a smooth, transparent, and efficient process from start to finish. Let us help you make your dream home a reality. To find your local Evergreen Lender view: Find a Home Loan Officer | Evergreen Home Loans

Understand Your Financial Health

Before diving into numbers, assess your financial health. This includes your income, debts, savings, and monthly expenses. A solid grasp of your finances will help you understand how much you can realistically allocate toward a monthly mortgage payment.

The Rule of Thumb: 28/36 Rule

A commonly used guideline is the 28/36 rule. It suggests that no more than 28% of your gross monthly income should go toward housing expenses, and not more than 36% should be spent on total debt obligations, including your future mortgage, car loans, credit card debt, and other loans.

Consider All Housing-Related Expenses

When calculating affordability, it's crucial to consider all housing-related expenses, not just the mortgage payment. This includes property taxes, homeowners insurance, homeowners association (HOA) fees, and maintenance costs. These additional expenses can significantly affect your budget.

Use a Mortgage Calculator

Evergreen Home Loans offers a user-friendly mortgage calculator on our website, a powerful tool designed to help you estimate your mortgage affordability accurately. By inputting your income, down payment, interest rate, and other financial details, you can get a clear picture of what you can afford. This calculator adjusts for various scenarios, giving you a comprehensive view of your potential monthly payments.

Factor in Down Payment

The size of your down payment is a significant factor in determining how much mortgage you can afford. A larger down payment can reduce your monthly mortgage payments and may help you secure a lower interest rate. Consider your savings and financial stability when deciding how much to put down.

Don't Forget About Pre-Approval

Getting pre-approved for a mortgage gives you a better understanding of how much you can borrow based on your financial situation. This step, which Evergreen Home Loans can help you with, also strengthens your position when making an offer on a home.

Think Long-Term

When considering mortgage affordability, it's important to think about your long-term financial goals and stability. Opting for a mortgage that stretches your budget too thin can impact your ability to save for other goals, like retirement or your children's education.

Evergreen Home Loans: Your Partner in Homeownership

At Evergreen Home Loans, we understand that determining how much mortgage you can afford is a critical step in the home buying process. Our mortgage calculator, personalized mortgage solutions, and dedicated team of lenders are here to guide you every step of the way. We're committed to making homeownership accessible and affordable, tailoring our services to meet your unique needs.

Ready to Explore Your Mortgage Options? Contact your local Evergreen lender schedule a free consultation.

Why Montana?

Montana, known for its stunning landscapes and welcoming communities, now has something new to boast about. Evergreen Home Loans is opening new branches in Helena, Billings, and Bozeman! These branches are more than just offices; they're hubs of hope for aspiring homeowners and testament to our commitment to making homeownership accessible and rewarding.

What Sets Our Montana Branches Apart?

Each branch will be staffed by Montana's finest mortgage loan officers who aren't just experts in finance but are dedicated to their communities. They understand the local market inside out and are eager to provide a personalized and innovative home financing journey to every client.

Robert Lipston, our Executive Vice President of Production, couldn't hide his excitement: "We are beyond thrilled to welcome the Montana team to our Evergreen family. This expansion is a testament to our commitment to empower more families in achieving their homeownership dreams."

Brett Evertz, the Area Manager for Montana and a proud Montana native, is equally enthusiastic: "I am thrilled to be aligned with a company whose core values and dedication to their clients, employees, and community reflect my own. We may be a small town state, but we have big expectations."

A Full Suite of Mortgage Services

Our Montana branches aren't just about spreading the Evergreen spirit; they're about delivering comprehensive mortgage solutions. From conventional loans to FHA, VA, and USDA loans, we've got it all covered. We're here to cater to the diverse needs of Montana's communities, combining our local expertise with Evergreen's innovative strategies to make a significant impact in the Big Sky State.

As Evergreen continues to grow, our mission remains steadfast: to transform the home buying experience and set industry standards in customer service and satisfaction. We're not just in the business of loans; we're in the business of changing lives, one relationship at a time.

Interested in learning more about our new Montana branches? You can click Billings, Helena, and Bozeman to explore more!

Welcome to the future of home financing in Montana. Welcome to Evergreen Home Loans.

1. Exterior Inspection

Start with a walk-around of your home's exterior. Check for any winter damage, focusing on the roof, siding, and foundation. Look for loose or missing shingles, cracks in the siding, or any signs of water intrusion. Early detection can save you from costly repairs later.

2. Gutter Clean-Up

Gutters play a vital role in directing water away from your home's foundation. Clear any debris accumulated over the winter months to prevent blockages and water damage. Ensure downspouts are directing water away from the foundation effectively.

3. Landscaping and Yard Maintenance

Spring is the ideal time to prune your plants, prepare your garden beds, and fertilize your lawn. Removing dead foliage and weeds can prevent pests and diseases, while proper fertilization can promote healthy growth throughout the season.

4. HVAC System Check

Your heating, ventilation, and air conditioning (HVAC) system has been working hard over the winter. Schedule a professional service to ensure it's running efficiently. Changing air filters and cleaning vents can improve air quality and reduce energy costs.

5. Window and Door Seals

Inspect seals around windows and doors for any leaks or drafts. Caulking or weather stripping can seal these leaks, improving your home's energy efficiency and comfort.

6. Safety Equipment Audit

Test and replace batteries in your smoke detectors and carbon monoxide detectors. Check the expiration dates on fire extinguishers and review your family's emergency evacuation plan.

7. Deck and Patio Care

Inspect your deck or patio for any signs of wear or damage. Look for loose boards or railings, and consider resealing or staining to protect the wood from the elements.

8. Interior Deep Clean

Beyond the usual cleaning, tackle areas that might have been neglected over the winter. Clean carpets, wash windows, and don't forget to dust off ceiling fans and light fixtures.

9. Plumbing Check

Inspect for leaks under sinks, around toilets, and near appliances. Check your water heater for signs of corrosion or leaks. Consider scheduling a professional inspection if you suspect any issues.

10. Energy Efficiency Review

Assess your home's energy usage. Simple changes like LED light bulbs, smart thermostats, and energy-efficient appliances can reduce your utility bills and environmental footprint.

By dedicating time to this Spring Home Check-Up, you're not just maintaining your home; you're enhancing your living environment and protecting your investment. Evergreen Home Loans is committed to helping you make the most of your home ownership journey, offering insights and support every step of the way. Happy spring, and here's to a season of renewal and peace of mind in your home!

Future Trends in Home Prices

Every quarter, industry authorities like Fannie Mae and Pulsenomics unveil the Home Price Expectations Survey (HPES), pooling insights from over a hundred experts—ranging from economists to real estate aficionados and market strategists. They weigh in on their projections for home prices.

Recent findings hint at a unanimous expectation: home prices are on an upward trajectory for the next five years.

Interpreting the Data

The consensus is clear from the data—no anticipated dips in prices, only a steady climb of 3-4% annually. Even with a slight moderation in the pace in 2025, the cumulative effect of these increments is significant. For instance, if a home appreciates by 3.78% this year, followed by 3.36% and 3.87% in the subsequent years, the growth is substantial over time.

What This Means for Potential Buyers

This consistent upward trend is promising news if you're considering buying. It signifies that a home bought today is likely to appreciate, bolstering your financial asset over the years.

To put this into perspective, let's consider a scenario: purchasing a $400,000 home now could potentially boost your household wealth by over $83,000 in the next five years, based on HPES projections.

Evergreen's Takeaway

Waiting to buy might seem safe, but it could mean higher costs down the line. If you're poised to buy and seeking a valuable investment, the current market forecasts suggest that now is a wise time to act.

Embark on your homebuying journey with confidence, backed by Evergreen's expertise and commitment to your success. We're here to help you navigate the market and find a place you'll love. Let's collaborate to discover your dream home today.

Source: Keeping Current Matters

Understanding Refinancing

Refinancing involves replacing your existing mortgage with a new one, typically to secure better loan terms. This could mean different loan terms, or switching from a variable rate to a fixed rate. It can also provide an opportunity to access the equity in your home, converting it into cash to fund your eco-friendly renovations.

Benefits of Refinancing for Eco Upgrades

1. Cash-out Refinance: This option allows you to take out a loan amount larger than your current mortgage and receive the difference in cash. This can be an excellent way to finance big-ticket investments like solar panel installations or a high-efficiency HVAC system without depleting your savings.
2. Tax Advantages: Some eco-friendly home improvements can qualify for federal tax credits, which can further offset the costs. For example, installing solar panels can earn you a tax credit that covers a significant percentage of the cost.
3. Increased Home Value: Eco-friendly upgrades can increase your property's value. Homes with green certifications often sell at a premium compared to similar homes without such improvements.

How to Get Started

Step 1: Assess Your Needs Identify the eco-friendly upgrades that will make the most impact on your home’s energy efficiency and overall value. Prioritize projects that provide both environmental and financial returns.

Step 2: Consult a Specialist Talk to a loan officer at Evergreen Home Loans to understand your refinancing options and how they can be tailored to support your green renovation goals.

Step 3: Crunch the Numbers Consider the costs of refinancing, including application fees, appraisal fees, and closing costs. Ensure the long-term savings from your eco-upgrades will outweigh these expenses.

Step 4: Apply for Refinancing Once you’ve determined the best refinancing plan, apply through Evergreen Home Loans. Our team will guide you through every step of the process, ensuring a smooth transition to your new loan agreement.

Investing in eco-friendly home improvements is a commendable and strategic decision that can reduce your environmental impact and enhance your living conditions. By refinancing your home loan through Evergreen Home Loans, you can access the necessary funds to make these vital changes, positioning your household as a sustainability leader in your community. For a free consultation reach out to your local Evergreen Loan Officer today!

At Evergreen Home Loans, we understand the importance of making informed decisions based on the latest information. Here’s what experts are currently saying about home prices and mortgage rates.

What’s Next for Home Prices?

One reliable source for home price forecasts is the Home Price Expectations Survey from Fannie Mae. This survey gathers insights from over one hundred economists, real estate experts, and market strategists. According to the latest survey, experts predict that home prices will continue to rise at least through 2028:

While the rate of appreciation varies year-to-year, the survey indicates that home prices are expected to increase (not decrease) for at least the next five years, albeit at a more moderate pace.

What does this mean for your move? If you buy now, your home will likely appreciate in value, allowing you to build equity in the coming years. Conversely, if you wait and prices continue to rise, you may face higher home prices later on.

When Will Mortgage Rates Come Down?

This is the million-dollar question. The current mortgage rate environment is influenced by several factors, making it difficult to predict future trends. Odeta Kushi, Deputy Chief Economist at First American, explains:

“Every month brings a new set of inflation and labor data that can influence the direction of mortgage rates. Ongoing inflation deceleration, a slowing economy, and even geopolitical uncertainty can contribute to lower mortgage rates. On the other hand, data that signals upside risk to inflation may result in higher rates.”

The future direction of mortgage rates will depend on how these factors evolve. Experts remain optimistic that rates might decrease later this year, but they also acknowledge that changing economic indicators will continue to impact rates. As CNET notes:

“Though mortgage rates could still go down later in the year, housing market predictions change regularly in response to economic data, geopolitical events, and more.”

If you’re ready, willing, and able to afford a home right now, it's wise to partner with a trusted Evergreen Loan Officer. They can help you weigh your options and make the best decision based on current market conditions.

Evergreen offers a diverse array of innovative products designed to enhance your home buying experience. Contact your local Evergreen Loan Officer for a complimentary consultation today!

Source: Keeping Current Matters

Revolutionizing the Home Buying Experience

The Security Plus Seller Guarantee® program was designed to eliminate the stress of getting your offer accepted. By providing an upfront, guaranteed financing commitment with minimal conditions, we empower buyers to make competitive offers with confidence. Our commitment is so strong that if we fail to uphold it, we pay the seller $5,000*. This guarantee not only strengthens the buyer's offer but also gives the seller greater assurance, making it easier for them to say YES.

A Legacy of Empowerment

Over the past 35 years, the Security Plus Seller Guarantee® program has empowered countless buyers and sellers, simplifying the home buying process and ensuring confidence. By removing uncertainty and providing a clear, reliable path to financing, we have helped many achieve their dream of homeownership.

Why Choose Security Plus?

Choosing the Security Plus Seller Guarantee® means choosing a smoother, more assured path to homeownership. Here’s why:

Competitive Edge: Your offer stands out with a guaranteed financing commitment.

Seller Confidence: Sellers are more likely to accept your offer with our $5,000 guarantee backing it.

Peace of Mind: With minimal conditions, you can move forward with confidence and clarity.

Real Stories, Real Success

Many of our clients have shared their success stories, highlighting how the Security Plus Seller Guarantee® made their home buying process seamless and stress-free. From first-time buyers to seasoned investors, the positive impact of our program is evident in their experiences.

Join Our Celebration

As we celebrate this milestone, we extend our heartfelt gratitude to all our clients who have trusted us over the years. Your success stories inspire us to continue innovating and providing top-notch services.

To learn more about the Security Plus Seller Guarantee® and how it can benefit you, visit our website or contact your local Evergreen Home Loans representative.

Thank you for being part of our journey. Here’s to many more years of making homeownership dreams come true!

*Applies to purchase loans only. To qualify, buyer’s Security Plus Approval/Seller Guarantee Addendum must have been issued by Evergreen and the Seller shall have executed the addendum with their signature. Certain loan types do not qualify for this offer. Restrictions apply.

• Sharpen: Visit the local hardware store or garden center to sharpen your mower blade, shovels and pruners sharpened.
• Toss: Sort garden chemicals and toss any outdated or unused chemicals according to label instructions.
• Prune: Prune early-flowering shrubs as soon as blooms fade. If you don’t prune the fading blooms early enough (new blooms set roughly 10 days after they fade), you may not see as many flowers next season.
• Rake: Give your yard a thorough raking before you begin to mow or treat the grass. Raking will pull up any thatch that has accumulated over the winter and you can locate dead spots that may need special attention.
• Plant: When it comes to planting in the spring, timing is key! Here are a few things to keep in mind:
  • Talk to an expert to find out how weather and soil conditions impact certain plants.
  • Bare root shrubs, roses and trees should be planted while the soil is cool.
  • Cold-weather plants and ornamentals, such as pansies, can withstand some frost.
• Mow: Wait until your lawn has turned mostly green before you begin mowing in the spring.
• Test: Harsh winters can cause pH levels in your soil to become acidic. If your soil has a high level of acidity, spread a thick layer of lime on your lawn to support new grass growth.
• Fertilize: If you did not fertilize in the fall, you may need to apply a layer of fertilizer in the spring to ensure green grass in the summer.
• Weed: A bit of spring weed prevention will help prevent weeds from developing. Apply herbicides or pre-emergent weed killers to support a nearly weed free summer.

But what if you could get that farm-to-table freshness in your own home? A kitchen garden in your backyard might be the perfect solution. Here are some tips to get you started.

Location. Location. Location.

The perfect location isn’t just for real estate anymore. Your kitchen garden needs to be in the right spot so that your vegetables and herbs can grow. Here are a few things to keep in mind:

• Sunshine: Pick a place that gets at least six to eight hours of sun per day. If that’s not available, look for plants that can survive with partial shade.
• Wind: Look for a location that won’t be exposed to the wind. Protect it with a windbreak like a hedge, fence, wall or another barrier.
• Water: Is your location reachable with a hose, watering can, irrigation or sprinklers? Access to water is key!
• Soil: Ensure you have the ideal garden soil that is loamy and rich in organic matter (think compost or peat moss) and drains efficiently, not too slow or fast. If that’s not your soil right now, amend it with the good stuff to ensure growth in the future.

Size and Style
With your first garden it’s best to start small. A 16-foot by 10-foot patch is a great place to start. If your green thumb takes off, you can always add on later!

What Will You Grow?
The best place to start is to think of what you and your family love to eat. If you don’t eat tomatoes, it’s best not to plant them in the garden unless you want to learn to like them!

Keep it Simple!
Reach out to your local cooperative extensive service to find the plants that are the friendliest for local weather and soil. But, in general, these plants tend to be beginner-friendly:

What Do You Need?
Check seed packets or plant tags to see how much space is needed for each plant to grow and buy appropriately for the room you have. Finally, also ensure you know how much each plant will yield to make sure you don’t have enough veggies to feed an army when you need to feed just two people.

When Can You Pick?
Understand the harvest timeline for each of your plants. If you plan correctly, you can have fresh food from your garden all year-round!

Hopefully you’re ready to pull out the garden soil and get planting. With just a little work and some fun in the garden you’ll be eating your own fresh food in no time!

As part of the contract, there are often clauses or contingencies on what will happen if certain conditions are not met. Two of the most common contingencies are an inspection and financing contingency.

An inspection contingency (sometimes called a “due diligence contingency”) allows you an opportunity to have the home inspected by a professional during a set time period. Typically, the inspection must be completed 5-7 days after the contract is accepted by both buyer and seller.

This contingency protects you in the event that you need to cancel the purchase and sales agreement due to findings in the inspection report. It can also offer you a chance to negotiate repairs or concessions. If you need to cancel the contract or the seller is unwilling to negotiate you will typically receive your earnest money deposit back.

Please remember, a home inspection is different than an appraisal. Home inspections examine the conditions of the interior and exterior of a home while an appraisal report is to determine the value of a home based on certain criteria. Check out our Homebuying 101 post on appraisals for more information.

A financing contingency is a clause that makes the purchase offer dependent on receiving financing from the lender. There can be many different stipulations, but the overall objective is to protect you and possibly return your earnest money deposit if you need to cancel the contract due to financing from the lender not being approved.

In competitive markets, you may see buyers waive certain contingencies in order to make their offer more attractive to a seller. Always check with a real estate professional or mortgage loan officer before waiving any contingencies so they can help determine if it’s the best decision for your situation.

Want to know more about making your offer stand out or how to begin the journey home? Contact one of our home loan experts today to get started!

A great example of this dedication is the Yakima branch team’s work to help stray animals in need. The branch was recently profiled by KIMA-TV for its partnership with the Yakima Humane Society to gather donations of food and supplies to help the shelter this winter.

The winter time is hard for shelters like the Yakima Humane Society because they often don’t have enough resources to help all the animals in need, and they don’t want to leave animals out in the cold. The Yakima branch of Evergreen partnered with the Yakima Humane Society to tackle this program by offering 200 $5 gift cards to local coffee shops for any individual that donating food or pet supplies.

As Evergreen Branch Manager Linda Orozco told KIMA-TV, “We want to make sure that as these winter months come along, and snow starts to happen that all these animals are taken care of and feel protected.”

The Evergreen family is so proud of the Yakima team and this campaign.

If you’re around the Yakima-area, you can still drop off donations at the Yakima branch office (3999 Englewood Ave., Suite 202, Yakima).

• Pawsome paints and more
  • Do the walls complement your dog’s fur? Will the cat’s next hairball wash off the sofa? Whether buying, remodeling, or simply upgrading your home, check for materials that are durable and easy to clean. This can help minimize the upkeep related to having pets in the home. Coordinating your décor to match your pet? That’s Instagram gold.
• Stylish Staples
  • Food and water bowls, litter boxes and bedding are pet essentials and they don’t have to be boring. Food stations can be built into kitchen islands or stand-alone holders that match your décor. For pet accessories, check out designer beds or litter boxes that can be hidden in beautiful wood covers. Some even function as side tables!
• A room of their own
  • Whether it’s a whole room or a section of your laundry or mudroom, giving your pets their own space can be very practical. Complete the space with beds, toys, or food dishes so that your pet has a safe space to escape when necessary. Like when your holiday company gets a little too jolly.
• Getting Techie
  • Welcome your pets to the tech life with sleek gadgets that are also fully automated. Consider replacing the plastic flap on your back door with an automatic sliding door that opens in response to a sensor on your pet’s collar. More ways to tech up your pet life include “smart” feeders and waterers; Wi-Fi monitors; and electronic toys.
• Backyard upgrades
  • We love our pets, but our landscaping may not. Protect plants by stationing them in raised beds or create a doggie sandbox to keep your pup from digging holes. For cats, try a “catio”—a screened-in enclosure that lets your feline enjoy their wild side while protecting them and your yard. Don’t forget to check out ASPCA for a list of poisonous plants to keep your pets safe.

Want more information? Check out our Inspirations Newsletter to get more ideas about pet friendly abodes!

What’s your price?
Have your real estate agent help you research home prices in your area. Hire a professional appraiser to provide a fair market value of your home, too. Both steps will help guide you to a realistic asking price — one that strikes a balance between making a profit and getting the property sold in a timely manner.

Buyer’s or seller’s market?
In general, if homes are taking several months to sell, and if they’re often selling below asking price, you’re in a buyer’s market. In this case, you’re likely to have more negotiating power as a home shopper, but may have to compromise on the selling end. In a seller’s market, homes don’t sit long before being snapped up. In this case, you may be able to sell your current home quickly and at full asking price, but may face hot competition to secure a new home.
➤Tip:  Identify several backup homes in case your first choice gets snatched up and avoid adding too many contingencies to your offer.

Sell first or buy first?
Whether you sell your current home first or buy a new home first, you’ll have advantages and challenges. For instance, if you sell your current home before buying a new one, you may need temporary lodging and storage.
➤ Tip: You may be able to add a rent-back clause to your sales contract, wherein the new owner agrees to let you rent the home for 60 to 90 days after closing, often in exchange for a lowered sales price or rent payments.

If you buy a new home first, you won’t have proceeds from your home’s sale to assist with a down payment. You may also find yourself paying two home loans for an unknown period of time, which may make it harder to qualify for a new home loan.
➤ Tip:  Bridge loans* are specifically designed to provide short-term financing for this situation. You pay off the loan with the proceeds from the sale of your current home.

You can do it!
Buying and selling homes simultaneously will always present challenges. But by planning ahead and working with a good real estate agent and an experienced loan officer, you can come through the experience with your sanity intact — and the home of your dreams!

* Borrower must be approved for the purchase of a new home with Evergreen Home Loans. The bridge loan closes simultaneously with the new purchase transaction.

I quickly saw there were opportunities to improve the homebuying process. Too often my clients faced barriers preventing them from closing as promised. It would often take the form of a lender who couldn’t close on time or would change the terms of the transaction from what was originally promised.  This caused them additional time, money, and stress that could have been avoided. It convinced me to improve the process so it would work on the side of homebuyers.

I started Evergreen Home Loans in 1987 with the mission that we would do our best to always close on time and as promised. Closing on time gives a homebuyer a new start and a new opportunity on the day they expect it. Closing as promised means homebuyers know there won’t be unexpected delays or surprises.

This pledge has been a mission for Evergreen for over 30 years. We now we have the stats to show how serious we are.

A survey of customers revealed that 92 percent say we closed on time or earlier than promised.

Helping homebuyers with what is likely the biggest purchase of their life is always rewarding.  Knowing that more than 90 percent of the time we exceed expectations makes it even sweeter.

How can we help you achieve your dream and make homeownership a reality? We’d love the opportunity to change your world.

Based on an independent third party survey of Evergreen closed loan customers between July 1, 2017 and February 28, 2018.

These spring cleaning tips will help you tidy up your space:

1. Clean, Clean, Sparkle and Shine! Clean your home until it sparkles.
   • Clean carpets and upholstery that have absorbed a layer of dirt and germs over the winter.
   • Vacuum all carpeted spaces and shake out those rugs!
   • Wash walls, woodwork, cabinets, and baseboards – clean your stainless steel to make all surfaces sparkle again.
   • Remove dust and dirt from ceiling fans, vents and bathroom fan returns.
   • Clean all light fixtures, wash all windows and skylights.
2. Get rid of clutter & clean out closets: Messy closets may give the appearance that your home doesn’t have enough storage space. Invest in solutions that help your things look more organized and remove any items you don’t need.
3. Buy a new welcome mat: A clean, new welcome mat gives buyers a good first impression and makes them feel invited into your home.
4. Clean up the yard: Mow the lawn, weed the garden, prune bushes and plant flowers. Clean out gutters, pressure wash sidewalks, stairs, garage doors, and siding as needed.
5. Repair and fix: Take care of any small repairs or major fixes that have been on the to-do list for far too long or may detract from the value of your home. Roof need repair? Windows cracked? Furnace need servicing? Faucet leaking? Now’s the time to tackle these items.
6. Remove oversized furniture, family photos and other personal items: Rid your space of knickknacks, kid’s art, family photos, extra furniture and other personal items. Be sure your furniture fits the scale of the room.
7. Refinish or polish wood floors: Time to protect and shine wood floors after a year of wear and tear! Choose a floor cleaner that cleans, shines, or both.
8. Wash your pillows and comforters: These fluffy sleeping accessories should be tossed into your washing machine 2-3 times each year.
9. Eliminate bad odors: Hide litter boxes and any other items that may be souring your home. Add inviting scents of fresh flowers and candles instead.
10. Clean your machines:
    • Disinfect your washing machine with white vinegar and baking soda to keep it fresh.
    • Clean out the inside and outside of your refrigerator. Pull out all shelves and wash with warm, soapy water and wipe down interior surfaces. Throw away all outdated food, condiments, etc.
    • Give your dishwasher a dose of a specialty cleanser. Remove any bits of food from the bottom of the machine.
    • Scrub out your oven or follow and set your self-cleaning cycle.

Once your home is sparkling clean, you’ll enjoy those cheerful, sunny days even more.

Prequalification is an estimate of how much money a lender thinks you could secure. This is often a free assessment and the loan amount is based on what you have disclosed to the lender either verbally or with limited financial documents. While a prequalification may not give you the strongest offer on a home, it’s a good jumping off point to see how much of a home you can afford while you’re shopping.

Preapproval is a more firm estimate from the lender. The loan amount is based on a credit report and review of financial documentation. Most likely your file has not been submitted to underwriting for full approval. Typically, when making an offer on a home, a preapproval from a lender will carry more weight than a prequalification.

It’s important to remember, that both a prequalification and preapproval do not constitute a guarantee of financing from the lender. Because your loan is not cleared through underwriting, it’s still possible to experience setbacks such as underwriting conditions. Underwriting conditions are items the underwriter wants to explain or document as part of the loan approval. If the condition is complex or takes a while to resolve, it may take longer to move forward with closing.

If you’ve found your dream home and you want to make sure you’re the best offer on the table, check out our Security Plus Seller Guarantee®**. With this program, we preapprove you with a fully underwritten loan amount and backed with a guarantee (for qualified buyers). It’s a guaranteed financing commitment that powers up your purchase power and often shortens your closing time. Contact one of our home loan experts to get yours today!

Disclosures:

* Preapproval is not a commitment to lend and is subject to satisfactory loan conditions including a completed application and property appraisal. Other terms and restrictions apply. Not all products available.

**Applies to purchase loans only. To qualify, buyer’s Security Plus Approval/Seller Guarantee Addendum must have been issued by Evergreen and the Seller shall have executed the addendum with their signature. Certain loan types do not qualify for this offer. Restrictions apply.

First, your credit score and credit report are two different things. Your credit score is a 3-digit number generated by an algorithm that uses information in your credit report. Your credit report is a document that contains your personal information (such as name, birthday, and social security number) as well as your credit history (open and closed accounts, inquiries, adverse actions, and other factors).

You can view your credit score on free websites or sometimes your credit card company will provide a free credit score as part of your membership. And under federal law, everyone is entitled to 1 free credit report a year.

Next, check out your scores and reports to see where you stand. Credit scores can range between 300-850, with higher numbers representing better credit. While reviewing your credit report, make sure to check for inaccuracies and report them as soon as possible. It can take up to 90 days to correct an error, so the sooner you report them the better.

Lastly, whether you’re looking to purchase a home in the near future or you’re already in the homebuying process, help your credit help you. Don’t open new accounts or skip payments. Continue to pay down any balances and keep an eye out for any instances of fraud or inaccuracies.

Want to know more about credit, homebuying 101 or how to begin your journey home? Contact one of our home loan experts to get started today!

Gross monthly income includes a variety of categories. It is any monthly, recurring income you receive and is calculated pre-tax. This could be income from an employer, Social Security benefits, retirement savings or investment accounts.

Lenders will use two different types of DTI calculations while working up your loan. Front-end DTI is your proposed monthly housing payment divided by your gross monthly income. And back-end DTI is all of your monthly recurring debts plus the proposed housing payment, divided by your gross monthly income.

Although this may sound complicated, these numbers are important, which is why you’ll want to discuss with your lender what percentage you need to be at to qualify for financing. Also make sure to take into account all of your expenses that are notconsidered debt, but may constitute monthly payments such as groceries, gas or entertainment.

Want to know more about debt-to-income ratios, homebuying 101 or how to begin your journey home? Contact one of our home loan experts to get started today!

Fixed rate mortgages are exactly what they sound like—the interest rate is locked or “fixed” for the life of the loan and not subject to market conditions. This is great for budgeting, since your monthly housing payment won’t change over time.

Adjustable Rate Mortgages (a.k.a., ARMs) are loans that don’t have a fixed interest rate. You typically start out with a lower-than-market interest rate. Over time the interest rate adjusts according to the market. With an ARM, you need to take into consideration that you could end up paying a higher interest rate and housing payment over the years.

Deciding which type of rate is best for you can depend on a variety of factors. If you plan on staying in your home for a while or want the stability of predictable payments, a fixed rate mortgage could be your best option. If you’re planning to move in a few years or advance in your career, an adjustable rate mortgage could help you qualify for more home or provide a lower payment.

While no loan product is better than the other, make sure to discuss your goals and expectations with one of our home loans experts so they can help you find the program that best meets your needs.

An escrow company is a neutral third-party that handles the monetary transactions for buying or selling a property. They often double-up as a title company so they can handle all of the documentation that transfers property rights between the parties.

During the home buying and selling process, there can be delays or even the possibility of the sale falling through. To ensure all funds are distributed according to the conditions of the transaction, the escrow company will open an escrow account to hold any money collected during the transaction. This can include any money from the buyer or the buyer’s lender. At time of closing, the escrow company will distribute the funds to pay off the seller’s mortgage and then distribute any profit to the seller.

You may also hear a mortgage escrow account referred to as an escrow. A mortgage escrow account is a feature of most home loans and is simply an account where your property taxes and insurance premiums are held. When you make your mortgage payment every month, a part is allocated towards taxes and insurance. Since property taxes and insurance premiums aren’t due every month, your mortgage servicer will hold the funds in the account and then withdraw to make a payment.

Want to know more about escrows, homebuying 101 or how to begin your journey home? Contact one of our home loan experts to get started today!

First off, an appraisal is not an inspection. Appraisals are a professional opinion on the value of the home and property. An appraisal will not check the functionality or condition of a home. That is saved for the inspection, in which a different licensed professional will check things like wiring, plumbing, foundation stability, etc.

An appraisal is completed by a licensed professional known as an appraiser. To protect the integrity of the report, the appraiser is an independent contractor with no stake in the outcome of the transaction. The appraiser will determine the value of the property by looking at a variety of factors including the selling price of similar homes (a.k.a., comps) and the overall quality of the property.

The appraisal is an important part of the home buying process as it will help determine how much financing the lender can provide. If the appraisal report comes back lower than the selling price, the lender may not be able to offer financing. The buyer may need to cover the difference, change loan products or negotiate with the seller to lower the selling price. If the appraisal comes back at or above selling price, the loan process will continue on to the next step.

Want to know more about appraisals, homebuying 101 or how to begin your journey home? Contact one of our home loan experts to get started today!

“I lost track of how many offers this couple submitted. It was around 11,” said Nick Wilson, a loan officer in the Evergreen Bellevue branch office. He was reflecting on a recent set of homebuyers who were losing out to a number of higher offers. They became increasingly disillusioned as homes they loved received multiple competing bids leaving them to conduct their home search again.

To help homebuyers like Nick’s, Evergreen Home Loans created its Security Plus Seller Guarantee®*program. This unique program puts homebuyers in a strong position to purchase. It features a guaranteed financing commitment that strengthens their purchase offers, shortens the time it takes to close, while saving them valuable time and money over the life of the loan.

The program provides a fully underwritten loan amount with a guarantee that if the loan falls through, the seller will be paid $5,000. With a preapproval certificate in hand, homebuyers present with confidence. Often times, they stand out as the strongest buyer even when competing with higher offers.

This goes further than other preapprovals that simply run a credit report for a homebuyer. Offers without an underwritten loan guarantee provide the amount a borrower could qualify for, not the actual loan amount the lender will provide upon closing.

The benefit of the Security Plus Seller Guarantee is giving homebuyers a “serious buyer” advantage among others waiting around for financing approval that will take time and may not close.

When the couple that Nick worked with was ready to submit another offer, he took the extra step to ensure their offer would be placed on top. He armed the customers with the Security Plus Seller Guarantee certificate and then called the listing agent to discuss the program.

In this case, Nick’s customers were one of ten offers and their offer was not the highest. After phone calls from Nick, conversations with the couple’s Realtor® Villy Orcilla from the Homes & Equity Real Estate Group, and a personalized letter from the couple to the sellers, their offer was accepted!

Villy believes it was the Evergreen Security Plus Seller Guarantee that gave them the edge. “Sellers want a guarantee that you can close on time,” said Villy after the offer was accepted. “The edge in working with Nick is we collaborated to make sure it was an underwritten approval. When I make an offer with Nick and Evergreen, it’s ready to go. It’s not just a letter indicating the credit is checked, this one is more. It’s amazing that Evergreen will [offer the Security Plus Seller Guarantee], especially in this current real estate market. It’s unbelievable and it’s so competitive right now.”

“It does make a difference in the real estate community knowing our core philosophy is focused on delivering for the real estate community and our customers,” said Nick. “Evergreen is right here. Our underwriters are here. From the customer perspective, you get a more efficient experience when the underwriters are local.”

After the offer was accepted the couple was, “over the moon,” said Nick. “They messaged me the morning thanking me for going the extra mile for them.”

For Nick, it’s worth the time, “Not every lender does this, yet it makes a huge difference when you let sellers know the offer is underwritten and we can close. We’re pretty much calling every single listing agent so I can introduce myself and open lines of communication. Sometimes that just makes a difference, knowing that the lender is accessible and available.”

*Applies to purchase loans only. To qualify, buyer’s Security Plus Approval/Seller Guarantee Addendum must have been issued by Evergreen and the Seller shall have executed the addendum with their signature at the time they execute the Purchase and Sale Agreement on subject property. Certain loan types do not qualify for this offer. Restrictions apply. This is a registered trademark of Evergreen Moneysource Mortgage Company.

We’re proud that our associates embrace this vision and apply it to their own career and personal success. This empowers them to do everything they can to make sure they can deliver on time and as promised®. It allows them to assist customers with the ultimate purchase, securing the joy of homeownership.  This ripple effect has the power to change a life, a community and ultimately the world in some way.

To celebrate 30 years of growth and 30 years of home, our team of associates, business partners and friends gathered at the Museum of Pop Culture in Seattle to celebrate. Attendees explored the museum and danced the evening away! We all gathered to not only celebrate our past, but to celebrate and look forward to the future. As Don Burton often says, “we have a 1,000 year plan for Evergreen.” That’s something that our associates believe in and we’re already starting down the path of providing homeownership for our customers for the next 1,000 years.

We’re so proud of our history at Evergreen Home Loans and all our customers, associates and business partners that are a part of our success. To learn more about our history over time or to listen to Don and our as

With renovation loans, eligible homebuyers or owners can make improvements or repairs and roll those into the purchase or refinance of the home, so you only worry about one mortgage inclusive of both home and renovation costs.

There are two main types of renovation loans, dependent on the level of work required:

• Limited 203K – The Limited 203K is a renovation loan that is used for homes that need minor repairs. Borrowers are able to finance the purchase of the home or refinance an existing home to make eligible non-structural improvements or upgrades of up to $35,000 before move-in. For this loan, there are no minimum repair costs.
• Standard 203K – The Standard 203K loan is used for major renovations, when repairs are structural, upgrades involve landscaping or when the costs exceed $35,000. For this loan type, there is a minimum of $5,000 worth of repairs that need to be completed.

Another option is a One-Time Close loan is designed to finance construction or major remodel of a primary residence or second home with automatic conversion to a permanent loan.

So even if the house doesn’t have instant curb-appeal, with the right program, you could turn that fixer upper into a dream home.  Our teams are standing by in your local area to guide and advise you on a loan program that works for your situation. No matter if you have a few general questions, or are ready to get pre-approved we would be glad to help. Let us help you turn that house into a place you call home!

Here are a few questions we recommend asking as you consider renting vs. buying:

• What’s the rent situation in your area? If you live in a major metropolitan area, there is a risk that rents will continue to rise year-over-year and price you out financially.
• What is your financial situation? Your financial and credit situation doesn’t have to be perfect, especially if you are a first-time homebuyer. But just like other major financial situations, it’s important to see if there are areas to improve (i.e. paying down debt from credit cards or student loans) that will weigh on your finances as you rent or buy.
• How long are you going to stay? If you are planning to stay in the same region and you can see yourself moving into a home for five to seven years, buying could be an option to consider.
• What’s the cost of homeownership? When you purchase a home, the cost of ownership and repair are all on your shoulders. That means you have to factor in future repair costs, especially if you purchase a house that needs a little TLC.

The New York Times has a page dedicated to most of these questions and it can help you get an overview of where you may stand based on the current market in your region. At Evergreen Home Loans, we also have a rent vs. buy calculator to help with your decision making.

But, a calculator can’t tell you everything. Potential buyers considering making the switch from renting to buying should engage an experienced home loans professional who can ask the right questions about financial status and future plans. This will give potential buyers a cost-benefit analysis they can use to determine if they are going to keep renting or start looking for that dream home.

Our team of home loans professionals are likely in your local community and we’d love to talk to you about your financial and homeownership goals. Find your local branch here!

• Change the locks. – Play it safe and change the locks on all exterior doors. You don’t know who might have a spare key to the old ones.
• Find the essentials. – Locate your breaker box and main water valve BEFORE you have an emergency and you find yourself searching in the dark or after a leak starts.
• Add maintenance to-dos. – Update your calendar with regular tasks like changing the batteries in your smoke alarm, cleaning the gutters and inspecting your roof.
• Find a pro. – If you can’t tackle a project, who are you going to call? Find a qualified professional through neighbors, friends and co-workers that can help as projects arise.
• Press pause on remodeling. – As tempting as it is to jump right in to a renovation, spend time in your home first so you can see what really works and what you want to change.
• Reap your tax benefits. – You may qualify for certain tax breaks from interest deductions to home improvement credits. Talk to a tax advisor and serf the IRS website to see what applies to you.
• Save for maintenance. – We all know it’s “if, not when” something will break in your home. Make sure you set aside funds for ongoing maintenance and repairs.
• Understand your mortgage insurance requirements. – These vary by loan type and mainly apply to those that put less than 20 percent down when they purchased. But, make sure you ask your home loans lender for the specifics in your loan.

Want more information? Take a look at our Inspirations Newsletter to get more ideas on how to save money and gain peace of mind.

Whether you purchased your home 5 months ago or 15 years ago, take a look at our Inspirations Newsletter to assist as you make your way through the complex and lingo-infused process of shopping for and purchasing a home.

• Paint – Think walls, but also your ceilings and some floors. A fresh coat of paint is an easy way to give a room a facelift.
• Replace – Change out that old hardware on your drawers, cabinets and doors.
• Add – Consider adding molding to your ceiling, to frame walls or even a chair rail to change things up visually.
• Refinish – Refinishing cabinets or flooring saves the costs and time of replacing with new. It also gives you a fresh look.
• Update – Make changes to those light fixtures, doors, sinks and faucets.
• Install – One-sheet tile styles that you simply cut and paste into place now make it easy to add a backsplash to your kitchen.
• Clean – A ceilings-to-carpets deep clean can brighten your home in just a few hours.

To read more about each tip, check out our Inspirations Newsletter and get started on bringing a fresh look to your home.

You’ve no doubt heard of offers that say they can get you preapproved for a home loan in just minutes. But as the saying goes, if it sounds too good to be true, it most likely is. For many companies, a preapproval simply means a quick check of your finances.

At Evergreen Home Loans, our Security Plus Seller Guarantee^TM is stronger than other pre-approvals because we do a thorough credit check.  It’s a fully underwritten loan amount and a commitment for financing. Unlike weaker offers that may fall through, you’ll be in a powerful position as a ready-to-go buyer. In fact, it’s so strong, we guarantee it or we pay the seller $5,000*.

As a serious buyer from Evergreen armed with a Security Plus Seller Guarantee, you may be home in no time!

To learn more about our Security Plus Seller Guarantee, contact your local office today.

*Applies to purchase loans only. To qualify, buyer’s Security Plus Approval/Seller Guarantee Addendum must have been issued by Evergreen and the Seller shall have executed the addendum with their signature. Certain loan types do not qualify for this offer. Restrictions apply.

At the end of 2016 we took a look at six quick ways you can spruce up your home based on the popular design elements we’ve seen out and about. Here’s a sneak peek:

• Color, color, color! – Punch up that palate and look for opportunities to match unusual combinations.
• Oooh, shiny! – Metallic finishes are in. The trend goes beyond silver to gold, brass and even polished nickel.
• Hello again, 1960. – Retro-chic is back for 2017 with bright colors and hexagonal tile work in play.
• Natural, meet international. – Textiles are taking a trot around the globe from Turkish kilim to Italian beach resort inspired fabrics.
• Pots and petals. – Living walls of plants and even ferns are in favor for all rooms of the house.
• Function gets fashionable. – From kid-friendly fabrics to easy to maintain countertops that look like a million bucks, practical doesn’t have to be ugly in 2017.

To learn more about each tip, give our Inspirations Newsletter a read and get more ideas on how to save money and gain peace of mind.

Looking forward to next year, here are a few items that may impact the direction of housing in 2017:

1. Look to Interest Rates

It’s impossible to predict with certainty where interest rates will go in the upcoming year. There are many factors and economic indicators that can drive interest rates up or down.

Prior to the election and prior to recent increases in rates, there was consensus the economy would pick up in 2017 and lead to higher rates.  After the election and in anticipation of future economic growth, rates jumped up quickly and went up higher than expected.

While rates are unlikely to fall back to the rates we experienced before the election, and they could potentially go higher, it may be a good time to get a professional opinion about your home financing situation.

If you’re in the market for a new home or thinking about refinancing, make sure you engage a home financing expert to advise you on your interest rate options and how that affects your home buying affordability.

2. Price Demand Will Vary

Regardless of the direction interest rates head in 2017, it’s important to remember that real estate prices are driven by supply and demand. Less supply and increasing demand will mean inventory shortages and increasing prices. More supply coming to the market generally helps to ease prices.

In 2017, this means that price fluctuations will depend on the specific housing market. For many locations across the Western United States, demand will continue to drive prices higher. However, other locations across the country may see prices softening.

An increase in rates may have a short-term impact on demand, but changes in pricing will depend more on location than rates.

3. The Pacific Northwest Will Stay Hot

Price and demand in the purchase market is forecasted to increase in the Pacific Northwest region. The Seattle and Portland regional markets are some of the hottest in the country and they consistently outpace national value appreciation numbers.

With few changes in the overall demand picture, it’s clear this trend will most likely continue into 2017.

The best way to get a handle on the latest in your local real estate market is to connect with trusted real estate professionals. At Evergreen Home Loans, our associates are standing by to assist you with all your questions and to guide you to a home loan solution that meets your personal homeownership goals. Find your local branch office!

Today, Evergreen has 650 associates across 50 branch and satellite offices in six western states. In 2016, year-over-year growth is up from previous years and 2015 was our best year in company history. I’m convinced our growth and stability as a company can be attributed to our organizational health.

Our associates are at the heart of everything we do. To me, strong organizational health is:

1. When people have a high degree of trust
2. All associates working toward clear goals
3. Ongoing communication about our goals

Today our associates are all rowing in the same direction. The benefits of this focus is associate retention – our turnover is well below the industry average. It’s my goal that Evergreen is the best place to work in the industry. We’re proud of recent recognitionthat shows we’re one of the best companies in our industry locally and across the country.

I believe how we take care of our associates is reflected in the way they take care of our customers. Our people have the greatest influence on where our business is going.

Our vision to change the world one relationship at a time drives us every day to deliver the very best for our customers.

• Focus on popular common areas and start by decluttering
• Stock your pantry with easy snacks for pop-by guests
• Get gift shopping and wrapping completed early to avoid crowds
• Prepare your bathrooms with additional supplies and basic mini toiletries
• Ensure the path to your home’s prominent entrance is clear of any clutter or yard debris
• If children will be joining your holiday festivities, plan a few kid-friendly activities and have some toys or coloring books on hand
• Make sure your guests have ample room to store suitcases and holiday gifts in their sleeping quarters
• Put out clean towels and wash clothes for each guest
• Make guestroom beds with clean sheets and provide extra blankets for chilly evenings
• If your guests plan to bring their pets, set up a safe place for them to stay

Hosting guests is a lot of fun, but can also be overwhelming. Preparation and planning are key to a successful and stress-free holiday season. Make your guests feel welcome and enjoy their company by prepping your home now for the holiday season.

A few tips to assist you in having a safe and happy Halloween:

• Light your walkways. Safely light the walk way and stairs up to your front door. Consider using LED lights in luminary bags to create an attractive and safe walkway solution.

• Avoid open flames. Candles, especial outside with wind and foliage, can be a hazardous.

• Clean up your yard and front porch. Ensure there are no potted plants, lawn equipment or toys trick-or-treaters could trip on. Also be sure to secure the railings leading up to your entrance. Place decorations in safe, out of the way places.

• Keep your pets inside. For the safety of your pets and guests visiting your home, make certain your furry friends are inside and cannot easily run out the door when you welcome visitors.

• Check your homeowner’s insurance. Accidents can happen. Check to see what your coverage includes. Your homeowner’s insurance company can provide you with additional advice.

• Be cautious when opening the door. Halloween is a popular time for mischief Ensure your home is safe by carefully observing who is at your door and setting alarm systems if you’re going out.

By preparing yourself and your home, you are sure to have a spookily successful Halloween this year!

• Clean and store your lawn furniture, tools and hoses.
• Winterize any gas-powered lawn equipment and sprinkler systems.
• Clear your gutters and downspouts to ensure leaves do not build up.
• Make sure there are no unstable trees or large shrubs which could fall in inclement, winter weather.
• Ensure your heating system is in good, working order. Clean or replace dirty filters. If your home has gas heat, consider having your system inspected. Schedule a chimney cleaning if need be.
• Change the direction of rotation on your ceiling fans to a clockwise direction to help with home heating.
• Replace caulk around windows and consider applying weather stripping.
• Inspect your roof for missing shingles and your siding for cracks and damage.
• Though home maintenance may not seem as fun as corn mazes and bobbing for apples, being vigilant about upkeep can help safeguard you and your home against unexpected repairs and expenses. Plus, making sure you complete these tasks ahead of time will assist you in having a safe, warm and enjoyable fall season.

While you may be excited to start shopping for homes, finding a lender and becoming preapproved is an essential beginning to the home buying process. While you want to lock down your preapproval, it’s important that you find the right lender. According to the CFPB (Consumer Financial Protection Bureau), 47 percent of homebuyers don’t compare lenders*.

While considering several lenders is a smart idea, you must also remember the lowest rate offered doesn’t always represent the best choice. There are lenders who may offer you a lower rate and not be able to close your loan on time, which may cost you additional time and money.

Additionally, interest rates often fluctuate and lenders’ fees can vary. In the long run, you’ll want a lender with a range of loan programs, and even better, expanded guidelines that could help you qualify. Experience and the skills to restructure a loan if necessary are also important factors for closing on time.

There are many things to consider when shopping around for your home loan. After all, this is one of the largest investments you may ever make. While comparing and negotiating rates and terms may sound taxing, making an educated decision is imperative. Working with an experienced mortgage professional will assist you in obtaining your ideal home, and mortgage loan, confidently.

*Source: http://www.consumerfinance.gov/about-us/blog/nearly-half-of-mortgage-borrowers-dont-shop-around-when-they-buy-a-home/

When it comes to mortgage insurance (MI), homeowners typically have questions. Your mortgage professional can address these questions in greater detail, but the below should assist you in understanding the basics.

Q: What is monthly mortgage insurance (MI)?

A: MI is designed to compensate the lender should a homeowner ever default on the home loan. Generally a loan has MI when the down payment amount is less than 20% of the purchase price of the property. Homebuyers benefit from MI because it could improve their purchasing power, getting them into a home quicker.

Q: When can I cancel or remove MI from my loan?

A: It depends. Typically, for conventional loans, if a homeowner is up to date with their monthly payments and their mortgage is scheduled to fall to 80% loan to value, the homeowner may request the removal of MI. Other loan types have different requirements for MI removal.

• FHA loans have an upfront and annual monthly insurance premium (MIP). The upfront mortgage insurance is financed into the loan amount and the annual MIP is paid monthly. The monthly mortgage insurance premium (MIP) may be canceled based on several factors such as; loan term, loan-to-value (LTV), or regulations when the loan was closed, but most annual MIP is paid through the life of the loan if originated (Case Number assigned) after 6/3/13. Ask us for details if your loan originated prior to 6/3/13.
• VA loans have an upfront Funding Fee financed into the loan amount (unless the Veteran is exempt) but there is no monthly MI applied to a VA loan.
• USDA loans have an upfront and annual Guarantee Fee. The upfront Guarantee Fee is typically financed into the loan amount and is paid throughout the life of the loan regardless of loan-to-value.
• MI for Jumbo loans varies by loan product. Ask for details.
• MI on conventional loans will automatically terminate under certain conditions, typically when the LTV reaches 78% based on the original purchase price. A homeowner can request MI cancellation under certain conditions at 80% LTV. Ask us for details.

If you have questions about obtaining a new loan or adjusting your current MI, reach out to an experienced loan officer for answers.

*Information is valid as of 09/16 but is subject to change.

What’s your price?
Have your real estate agent help you research home prices in your area. Hire a professional appraiser to provide a fair market value of your home, too. Both steps will help guide you to a realistic asking price — one that strikes a balance between making a profit and getting the property sold in a timely manner.

Buyer’s or seller’s market?
In general, if homes are taking several months to sell, and if they’re often selling below asking price, you’re in a buyer’s market. In this case, you’re likely to have more negotiating power as a home shopper, but may have to compromise on the selling end. In a seller’s market, homes don’t sit long before being snapped up. In this case, you may be able to sell your current home quickly and at full asking price, but may face hot competition to secure a new home.
➤Tip:  Identify several backup homes in case your first choice gets snatched up and avoid adding too many contingencies to your offer.

Sell first or buy first?
Whether you sell your current home first or buy a new home first, you’ll have advantages and challenges. For instance, if you sell your current home before buying a new one, you may need temporary lodging and storage.
➤ Tip: You may be able to add a rent-back clause to your sales contract, wherein the new owner agrees to let you rent the home for 60 to 90 days after closing, often in exchange for a lowered sales price or rent payments.

If you buy a new home first, you won’t have proceeds from your home’s sale to assist with a down payment. You may also find yourself paying two home loans for an unknown period of time, which may make it harder to qualify for a new home loan.
➤ Tip:  Bridge loans* are specifically designed to provide short-term financing for this situation. You pay off the loan with the proceeds from the sale of your current home.

You can do it!
Buying and selling homes simultaneously will always present challenges. But by planning ahead and working with a good real estate agent and an experienced loan officer, you can come through the experience with your sanity intact — and the home of your dreams!

* Borrower must be approved for the purchase of a new home with Evergreen Home Loans. The bridge loan closes simultaneously with the new purchase transaction.

• Great Place to Work® Certification – Through extensive ratings provided by our associates via anonymous surveys, Evergreen was certified as a Great Place to Work®.
• 100 Best Companies to Work For and 5^th Best Large Company to Work For – Seattle Business magazine named Evergreen one of the top 100 Best Companies to Work For in Washington state (3 years running). We were further honored as the 5^th best “Large Company” in the state.
• Washington’s Best Workplaces (250+ workers) – On June 16, 2016, The Puget Sound Business announced that Evergreen is one of Washington’s Best Workplaces for the 250+ employee category.

While there’s no “magic” formula on how to build a culture that makes people feel great about where they work, there are a few tenants that apply.  Create a lofty vision for your company along with core convictions that support them. For Evergreen, our vision is to change the world one relationship at time. This vision applies to both the associates that work here and to the customers we serve.

It’s often the small acts of kindness, mutual respect, and gestures of support that make an associate’s and a customer’s day. Big and small, these actions create a ripple effect that changes our world one relationship at a time.

We even have an internal recognition program that makes it easy for our associates to give compliments for jobs well done. This creates a sense of family (family is one of our core convictions).  We know that when we treat our associates like family, it positively affects the experience our customers receive.

Another Evergreen core conviction is FUN. We have a culture that celebrates fun including scheduling it. We go out of our way to celebrate our milestones, successes, and our personal and business achievements. Because when you love going to work, those around you are fueled by this energy.

I still love waking up every day and going to work. I’m inspired by the associates who work here, help our customers into homes, and look for every opportunity to recognize what’s good about Evergreen.

At Evergreen Home Loans we pride ourselves on providing education to our clients to equip them with everything they need. We want you to understand the process in order to make an informed homebuying decision.

We’ve put together seven quick tips for first-time homebuyers to consider as they begin their home search.

1. Open Houses – Many first-time homebuyers believe their first step is to pull up their real estate search app of choice and head out on a full weekend of looking at houses. Although this is a great way to check out homes you may be interested in, you’ll want to do some background work before falling in love with that perfect home so you know it’s in your price range.

2. Look at Your Finances – Before jumping into the home search take a deep look at your financial picture. Are you paying your bills on time? Do you have large credit card balances? Are you delinquent on any accounts?

An imperfect credit picture isn’t a death sentence to your homeownership dreams.  While credit scores can range widely, the higher your credit score, the more options you will have to find a home loan with favorable interest rates.

3. Know Your Home Loan Options – A home loan is not a one size fits all product, and the lowest interest rate is not always the best. There are many loan types that require different levels of down payment and have short-term and long-term benefits for homebuyers. A trusted home loan professional can walk you through the options and make recommendations on what product might be best for your situation.

4. Ask Questions – Think of a home loan professional as your partner and guide through the home loan financing world. Don’t be afraid to ask any and all questions you might have about the home-buying process. There are many terms and products that you might not know about. A home loan professional is able to walk you through these details and help you understand how those items relate to your specific home purchase.

5. Choose a Home Loan Partner – After you’ve looked at your home loan options and asked questions of potential home loan professionals , it’s time to choose the company that will help you with your home loan and start the approval process.

6. Get Pre-Approved* – In order to help you stand out among potential competition, your home loan partner will want you to go through the pre-approval process. During this process you will submit a variety of financial documents for review. Your home loan partner will walk you through the review of your finances and if you qualify, provide you with a loan amount that the company has determined you can afford. This pre-approval is a backing from the home loan company that you can use to let sellers know that you are a serious buyer and you already took the first step in obtaining home loan financing.

7. Start Your House Hunt – With your pre-approval letter in hand and your home loan partner by your side for support it is time to call your Realtor and start the house hunt to find your dream home. Best of luck!

*Preapproval is not a commitment to lend and is subject to satisfactory loan conditions including a completed application and property appraisal. Other terms and restrictions apply. Not all products available. Depending on your personal circumstances, more or less information may be required.

A home inspection can ensure that a purchase of this magnitude will be a solid investment and can help uncover any potential issues you may wish to avoid. The home inspection covers several systems within the house, but they focus on spots that concern buyers the most, including: the foundation, exterior, the full lot to check drainage, roof, attic, electrical systems, interior, basement (or crawl space), plumbing, appliances, heating/cooling systems and any safety systems.

Home inspections are typically conducted by a home inspector who has undergone specific training and is certified to do this work. After they have inspected a home, they prepare and deliver a written report with any findings, a description of the condition of the home and often also offer maintenance tips and photos at the time of inspection. You can then review the report and use it to make informed decisions about your pending purchase.

Here are a few things we recommend:

• Choose wisely: Be sure to choose a qualified inspector. If you receive a recommendation, be sure to do some research. Check to be sure they are trained, certified and insured. Ask how much experience they have and ask to see a sample home inspection report – a good report averages 20 or more pages and contains photographs and complete descriptions of any issues and fix recommendations.
• Attend the inspection: If you are able, attend the inspection! It will help you better understand issues that may arise, and you are able to ask questions in real time.
• Read the report: Take time to read the report, review the issues and recommended fixes, as well as ongoing maintenance recommendations.

After you’ve reviewed the report, take time to talk with your Realtor and the inspector to ensure you’ve identified the major items that need to be addressed prior to you taking ownership of the house. This is the time where you can ask the seller to fix critical items or provide an allowance to fix them on your own. If the seller isn’t willing to fix the items or give you an allowance, you can then consider if walking away from the deal is going to be better than investing in critical repairs.

Taking the time to hire a true professional to conduct an inspection is the best way to ensure that your perfect home is as close to perfect inside and out when you turn the key for the first time as an owner.

Simply put, real estate disclosures provide homebuyers an opportunity to learn as much as possible about the property and the seller’s time in it. Sellers are required to document any current or past defects that they are aware of.

Why is Disclosure So Important?

Full disclosure provides the homebuyer with information that can influence if it really is a good fit for their needs and assist with price negotiations. They are also intended to provide protection for sellers by giving an opportunity to share items that could impact the current or future value of the property. Disclosures can range mold or pest issues, water damage, leaky windows, to remodeling work completed with or without a permit.

Common Hazards and Defects

Some of the more common disclosures include known material defects involving:

• Lead-based paint (if built prior to 1978)
• Termite, pest or mold issues
• Structural defects (roof or foundation)
• Sewer and plumbing issues
• Natural hazards
• Any other relevant house or neighborhood issues

How are Items Disclosed?

Disclosures are typically documented in writing, using a standard form issued by the state. This form is completed by the sellers and shared with prospective buyers. Buyers must review and then sign off on all disclosures and can ask questions if they would like additional information.

If you’re serious about putting an offer on the property, take time to review each of these disclosures and ask your real estate agent for clarification on any points that you don’t understand. It’s imperative to do so before submitting an offer so you know exactly what you might be walking into with your new home. Doing so will help you assess your offer price, but also be aware of any upcoming maintenance that might need to be conducted before or after you move in.

For more information on the home buying process and how you can be prepared, contact one of our experienced local home loan consultants.

The earnest money deposit is one of the most important parts of the contract process outside the actual offer itself. The deposit shows the seller how committed you are with your offer and how ready you are to move forward toward closing.

If your offer is accepted, then those funds go toward your down payment and closing costs.

Your purchase and sale agreement will detail the terms of your earnest money deposit. Generally, it indicates that you are willing to pay the seller the earnest money amount if you back out of the sale prior to closing. Often, your purchase and sale agreement will detail reasons that will allow you to leave the contract without forfeiting your earnest money.

How Much You Should Put Down

On average you can expect to pay 1-2% of the total purchase price of the home. Depending on where you live, you may end up putting down more or less than this amount. In a slow market, your Realtor may recommend a 1% earnest money deposit. In markets that are hot, you may be asked to make a higher deposit of 2-3%.

A higher earnest money deposit may help make you look more attractive than other buyers making offers on the same property and may help you win a bid.

When Do I Pay the Earnest Money?

After your offer is accepted and you sign the purchase agreement, you turn in your earnest money to the title company. After you turn over the deposit, funds are held in an escrow account until the home sale is in final stages. Once everything is ready, these funds are released from escrow and are applied to the down payment and closing costs for the home.

If We Leave the Deal, Can We Get Our Earnest Money Back?

It’s always a good idea to check the purchase agreement to be sure it covers how a refund will be handled. If the deal falls through for any reason, a cancellation fee may be taken out of the earnest money deposit. The escrow company, as holder of the earnest money, determines whether you should receive funds back based on the terms of the agreement.

Understanding the potential impact an earnest money deposit has on your offer is a great way to give you another tool to put yourself in a strong position to buy. Make sure you work closely with your  real estate agent and home loan company to put in a strong earnest money deposit that matches your interest level, while also understanding the terms of the purchase and sale agreement.

Need more information on how to prepare for homeownership? Contact a local home loan expert.

As we enter our fourth decade in business, we now have over 800 associates and 65 office locations across the Western United States. What hasn’t changed is our goal to put our customers in the strongest position to purchase a home which is at the heart of everything we do.

As long as people keep moving and families keep growing…so will we.

Evergreen is committed to staying on the cutting edge of innovation to best serve our customers and our associates. It keeps us relevant, current, and committed to listening to the needs of our customers and business partners.

That’s why I’m excited to announce a fresh look to the Evergreen Home Loans brand, a new logo and a new website. These changes reflect our growth, success and ongoing efforts to improve the way we serve our customers in ways that often go beyond what other home loan companies do.

Our new logo and brand style reflects the experience our customers receive from our associates: strength, reliability, value and trust.

The new website is focused on how users consume information today and is optimized for on-the-go use. Images are bigger and bolder; words and paragraphs are more relevant and to the point. For users, the experience is more welcoming, educational and efficient.

The same Evergreen

The thing that won’t change is the experience you get with Evergreen Home Loans. Our associates are passionate about doing everything possible to help our customers home. That rings true for our loan officers, branch and home office staff. Each one of our associates play an integral part in helping families unlock the doors to their new homes. It’s a joy to see the hundreds of #ShowYourKeys® photos from customers in all the markets we serve.

A continued focus on putting people first

At Evergreen, we’re driven by a core set of convictions and behaviors that define how we treat our associates and customers while we pursue our vision.

Whether it’s a comforting phone call, an answer to a lingering question about home affordability on a Sunday, or a connection with a local real estate professional, we’re in the neighborhood ready to listen and guide our customers home. It’s where hopes, dreams, friendships, and communities are built - one relationship at a time.

Our associates and I are excited about our new look as it energizes our brand and sustains our commitment to delivering on time and as promised year after year. We hope you are too.

Closing is the point in time when the title of the property is transferred from the seller to the buyer. At that time, a variety of closing costs, or lender and third-party fees, are paid. Closing costs can be incurred by either the buyer, or the seller. These fees typically range from 2 to 5 percent of the purchase price of their home in closing fees.

Before submitting an offer, you should talk to your real estate professional to see how closing costs are outlined in the purchase and sale agreement and understand what you will be responsible for on closing day. You should also ask your home loan provider what the anticipated closing fees are and who is responsible for paying what portions. You will see this reflected on the closing disclosures (sometimes referred to as the CD) that you’ll receive at closing.

What types of fees can I expect?

Closing costs will cover recurring (ongoing expenses) and nonrecurring (one-time) fees that are part of your transaction. Recurring closing costs are placed in an escrow account that is managed and administered by a third-party.  Costs can vary depending on where you live, the type of loan you choose, and the property that you purchase.

Preparing for Closing Costs

It is best to think about closing costs well before you reach the closing table. Speak with your real estate team and the home loan lenders you are considering and ask to review closing cost estimates. Having a baseline of expected costs will be helpful as you estimate the cash you need to bring to the closing table. That way, closing day is focused on stepping into your new home, rather than surprise fees.

Our local home loan experts would be happy to answer any questions you have on the home loan process.

A quick homebuyer guide outlining the steps to buying a house can help you avoid common mistakes first-time homebuyers make. Here are a few helpful tips to consider when you’re ready to go from renting to owning.

1. Take a peek at your finances

Before you even step foot into your first open house and the excitement begins, make sure all your finances are where they should be to put you in the best position to afford the home of your dreams. Check your credit score before you even begin and be mindful of any large purchases you may be looking to make during the homebuying process. All these items could impact your ability to buy, so know where you stand before you fall in love with a home.  

2. Explore your loan options

There are many different options when it comes to home loans from fixed to adjustable rate loans. Those options expand if you are building or renovating and often there are different options for first-time homebuyers. When you’re considering your options, it’s important to keep in mind the down-payment amount and loan program to works with your long and short-term financial goals. Working with a trusted mortgage professional makes it easier to understand your options and what your financial position and goals will allow.

3. Get pre-approved

Getting pre-approved for a loan could save you a lot of time, money and stress. It also puts you in a stronger position to purchase so you can search for a house with confidence in an often-competitive market. What is pre-approval? When your loan officer preapproves you for a home loan, he or she will look at your credit history and income to provide assurances that you will be able to purchase a home within a specific range. Typically, the loan officer will provide you or your real estate agent with a letter stating what loan limit, or total purchase price, you can afford.

4. Go into each open house prepared

As a first-time homebuyer, don’t be afraid to ask questions. And a lot of them. At each open house, carefully consider the home’s current condition and take note of any repairs needed. Keep your budget in check and understand all the extraneous costs that come with buying a home (landscaping, utilities, property taxes, etc.). If you aren’t able to have all of your questions answered by the real estate agent at the open house, set up a private appointment to address every inquiry and concern.

5. Communicate openly with your home loan partner

Your loan officer is there to help you every step of the way until the ink has dried on each final document prior to your move-in. Finding a home loan professional that understands your needs and has your best interest in mind is key toward the path of owning your first home.

Contact one of our home loan experts today and get ready to start house-hunting!

The decision to choose refinance depends on your current financial situation and long-term goals. Motives for refinancing can vary from reducing a monthly payment to capturing the equity in a home, and using that equity for improvements, or leveraging it to tackle other debts.

What is refinancing?

Refinancing is the act of replacing one home loan with a new loan that may feature more favorable terms. This may include a lower interest rate, lower monthly payments, or “cashing out” some of the equity built up in a home if the value has increased since the initial purchase.

Why refinance?

Building the case for a refinance really depends on the type of loan you currently have and what you’re trying to achieve. Evaluate which of the three types of loans you have below to help determine if refinancing makes sense for you.

1. Fixed-rate loan

If you’re unsure whether you should refinance your fixed-rate loan, ask yourself these three questions:

1. Is the current interest rate at least two points below the rate on your fixed-rate loan?
2. Is your current 30-year loan less than 10 years old?
3. Do you plan to stay in your home for a while?

If you answered yes, it might be time to consider your refinancing options.

2. Adjustable-rate mortgage

Some homeowners who have an adjustable-rate mortgage (ARM) should consider refinancing to a fixed-loan rate when the ARM reaches at least two points above their original rate. If you qualify, you could lower your monthly payment with a fixed-rate loan that will not change over time and could save you money.

3. Tapping home equity: “cash-out”

If the value of your home has increased and/or you’ve paid enough of your loan down to have positive equity, you can use refinancing as an opportunity to cash out some of that equity. Many homeowners use this to pay off other debts such as car loans, credit cards, student loans, etc. It can also be a great option for financing home improvement projects. (Consult your financial advisor on the consolidation of short-term debt into long-term debt.)

Getting started

If refinancing makes sense, Evergreen Home Loans™ has a step-by-step guide for a successful mortgage refinance process. For further assistance, contact a home loan officer; from there, we’ll help you determine a solution that makes sense for your homeownership needs.

Learn more about the refinancing process here.

The first step you should take is to consult with a mortgage professional to discuss your home loan options and future goals. Looking at your future financial goals will help determine what down payment options might be available. Here are some things to keep in mind.

• Your financial situation

Give your mortgage professional a full picture of your financial situation by gathering and sharing your financial assets and liabilities. Also be prepared to talk about your financial goals over the next five to 10 years if you plan to stay in your new home for that long. Then build out a plan on how much you think you’d like to put down on a new home. Consider additional moving costs and incidental spending.

• Closing costs

When purchasing a new home, you’ll need to factor in closing costs as part of your overall budget. These costs will impact your down payment budget. A mortgage professional can assist you with this, but a general rule of thumb for estimating closing costs is to calculate 2% to 5% of the average home price in your desired neighborhood.

• Large versus small down payments

A larger down payment will likely lower the cost of your loan. However, that doesn’t mean that a large down payment is for everyone. Many loan types require a 5 percent down payment or more. With that in consideration, you can often expect to save with at least 10 percent of the home price as a down payment. This 10 percent mark could be a good estimate to think about when looking at homes and determining how much home you truly want to purchase.

• Low- and no-down-payment options

Depending on your current status, you could qualify for special programs that offer low- and no-down-payment options, alleviating the burden of needing dispensable cash to put toward your home. These programs include the Federal Housing Administration (FHA), the U.S. Department of Veterans Affairs (VA), and the U.S. Department of Agriculture (USDA).

Securing your down payment is the most important step in finding the perfect home loan for your needs. Contact a home loan officer today and learn more about the home buying process here.

Preapproval allows your lender to look at your finances and long-term financial goals so they can advise you on how much home you can afford. At Evergreen Home Loans™, our preapprovals can be fully underwritten so that when you’re ready to put in an offer, it’s a strong offer designed to put you at the top of the pile.

To get your home buying process off to a great start, follow these three steps.

Home loan preapproval steps

1.  Check your credit score

One of the first things your mortgage lender will look for when you’re seeking preapproval is your credit score. By considering where your credit currently stands, you’ll understand the type of mortgage loan you can afford and the best interest rates that’ll help you qualify. Be sure to speak with your mortgage professional about any concerns you may have with your credit report so that errors can be remedied, if necessary. 

2.  Proof of income and assets

Throughout the process of home loan preapproval, be prepared to show your loan officer proof of income that will help determine the type of loan you can afford. This can include pay stubs, tax returns and W-2s along with other documents that outline additional income like commissions and bonuses. Your mortgage officer may also want to see proof of assets that you have outside of your income.

3.  Secure a guarantee to put you ahead of the pack

Our exclusive Security Plus Seller Guarantee^® program delivers a fully underwritten loan commitment that helps put you in the strongest position to buy. While other homebuyers may have their financing fall through, our guarantee gives sellers the confidence that you’re a strong buyer ready to close.

Getting preapproved for your home loan is a great way to help you get the home of your dreams. Contact a home loan officer today and learn more about the preapproval process here.

Frequently asked questions:

Does a preapproval letter guarantee a home loan?

A preapproval letter doesn’t guarantee a home loan. However, preapproval is a firmer assessment of how much loan you could secure compared to a prequalification, as it’s typically based on more in-depth personal information and financial documentation. It could show a seller that you’re a serious home buyer. You’ll still need to qualify in other areas of the loan approval process.

Do mortgage preapproval letters expire?

Preapproval letters do expire. The expiration date depends on different factors, including the mortgage lender, and it may be between 30 to 90 days from the issue date.

Does Evergreen Home Loans offer an online application?

Yes, you can apply for a home loan online using our online application. And as part of Evergreen Advantage™, we offer many digital tools to help provide a streamlined, simplified, and superior financing experience.

False.

As the borrower, your name remains on the title and the home is still yours—just as it would be with any mortgage. You’re required to continue paying real estate taxes, homeowner’s insurance, and providing basic maintenance to your home. Once you no longer live in the home as your primary residence, the loan balance, including interest and fees, must be repaid*. This is usually done by the homeowner or their estate selling the house.

2. “A reverse mortgage should only be used as a last resort.”

False.

Many homeowners age 62 and older are now using a reverse mortgage strategically as part of a sound financial plan. For example, a reverse mortgage line of credit can serve as a cash reserve that you can tap as needed. (And unlike a traditional Home Equity Line of Credit, the unused reverse mortgage credit line actually grows over time.) Or, monthly advances can help you supplement other retirement income, so you can avoid withdrawing savings or liquidating invested assets. In any case, no monthly mortgage payments are required,* which can improve your cash flow and help you live more comfortably. Mike Broderick from Evergreen Home Loans will be pleased to work with you and your financial advisor to develop a solution that’s right for you.

3. “There are restrictions on how I can use the money from a reverse mortgage.”

False.

Reverse mortgage proceeds can be used in multiple ways. Among the most common uses are paying off an existing mortgage or other debt in order to have no monthly mortgage or debt payments; creating a cash reserve; supplementing monthly income; paying for home improvements; or covering medical bills or long-term care expenses.

4. “I could wind up owing more than my house is worth with a reverse mortgage, and leave my heirs with debt.”

False.

A HECM (Home Equity Conversion Mortgage) reverse mortgage is insured by the Federal Housing Administration. This insurance feature guarantees that you will never owe more than the value of your home when the loan becomes due. No debt will be left to your heirs. And if the loan balance is less than the market value of the home, the additional equity is retained by the homeowner/heirs (if the home is sold).

5. “Reverse mortgages are too complicated.”

Not so.

With most financial products, there are a number of factors to consider before you can choose what’s best for you. With Evergreen Home Loans, you can rely on Mike Broderick to be a trusted resource for clear information and responsible guidance. In addition, before you apply for a government-insured Home Equity Conversion Mortgage, you are required to receive reverse mortgage counseling from a third-party counselor who’s approved by the U.S. Department of Housing and Urban Development (HUD). These independent counselors are not affiliated with Evergreen Home Loans, and their job is to ensure you fully understand every aspect of your reverse mortgage.

* The borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid.

*This material is not from HUD or FHA and has not been approved by HUD or any government agency. Evergreen Home Loans is not the creditor for reverse mortgage loans. This information is believed to be accurate as of 05/19 and is subject to change without notice. Additional terms and restrictions apply. Ask for details

Create a master moving binder.

Create a binder and use tabs or pockets to get ahead of the moving curve and keep you organized. The following categories will help you keep important documents easily accessible while you’re packing to move:

• Loan documents
• Utilities
• Receipts
• Movers
• Schedules
• Miscellaneous

File documents into their respective categories to keep track of important contact numbers, expenses, appointments, and more. From the start time of your truck rental to the cost of the new faucet, this binder will be your go-to resource when it comes time to move.

Organize your moving checklist.

Separate your moving checklist into three main sections: before, during, and after. Clearly laying out these tasks will ensure that you are not scrambling at the last minute. Print your moving checklist to have it in hand—the more copies the better—and keep it handy so you can refer to it during the move. When all the items on the checklist are finally crossed off, you won’t have that “I forgot something” feeling, and you’ll be able to settle into your new home with ease.

Pack purposefully.

When you’re packing to move, pack similar items together and label each box clearly on multiple sides. You will thank yourself later when all the boxes look alike. Label one box “open first” and fill it with necessary items such as medications, small tools, and extra phone chargers.

Get rid of clutter.

Take the opportunity to declutter for a move, especially if you’re downsizing. Going through every drawer, closet, and corner is an opportunity to see every item you own and consider its value. Donate things you will no longer need, like clothes that no longer fit or decor that doesn’t match the style of your new home.

Don’t wait to get started.

We often procrastinate doing hefty tasks, but when it comes to moving, you can start with smaller tasks like holiday decorations or out-of-season clothes that you know you won’t need prior to the move. Once the first box is packed, the rest won’t seem as intimidating.

Don’t let moving get in the way of the joy of your new home brings.

Interested in buying a new home so you can take advantage of these moving tips? Contact an Evergreen Home Loans™ loan officer today!

Undertaking home renovation can seem like a huge task, but don’t let it deter you from creating your dream space.

Home Renovation Loans

There are two types of loans that can support you in your renovation, and both are 203(k) loans, which are- FHA-backed loans that can be used to refinance an existing home through repairs, updates, or renovations.

The first option available is a Limited 203(k) renovation loan, which is intended to help with less complicated home improvements. Like the name suggests, there are some limits to this loan. The maximum repair amount allowed is $35,000, with no minimum requirement, and it does not cover plans, consultants, engineers, or architects.

The Limited 203(k) is the loan you want for removal of that yellow wallpaper. It will cover the cost of removal, new paint, painters, etc. It can also help you hire workers to scrape the popcorn ceilings clean and finish them off with a fresh coat of paint.

The second type of renovation loan available is the Standard 203(k) renovation loan. Varying slightly from the Limited 203(k), the Standard 203(k) has no maximum repair amount, but it has a minimum of $5,000 in repairs or improvements.

Say goodbye to your outdated countertops and hello to your dream kitchen. With the Standard 203(k), you can hire the architect and engineers needed to design a brand-new kitchen or other complex, major rehabilitation improvements to your home. It also covers all the actual work and materials for the project.

Weighing Your Options

There are a few constraints of the renovation loans you should consider before making the decision to apply. For instance, be aware that no do-it-yourself renovations are allowed. As much as you want to channel your inner HGTV house flipper, the 203(k) loans only cover professional projects. All contractors must be vetted as well.

Now you can look back at that list of improvements you promised you’d complete when you first moved in. With a 203(k) loan, you can make your house your home.

 Like many house hunters, you might not realize that building your home from the ground up is much more possible than you might think. Yes, it’s true that you won’t be able to move in within 30 days. You might have to deal with some construction challenges. But when you do step into that new home, it will be completely customized to your lifestyle and preferences—100 percent unique to you.

Before assuming that a new build is out of reach, let’s consider the pros and cons.

Pros

• You’re the first owner! Nobody else will have a home like yours.
• Your home will automatically be built to meet current building codes.
• Building your own home ensures that all features are up to date, and you can make sustainable choices using energy-efficient materials that save you money over time.
• You can design it to the specifications and layout that work best for you.

Cons

• It can take up to seven months to construct a new build according to the S. Census Bureau. If you have a gap in residence between your sell date and your move-in date, you may need to rent or stay in a hotel (and you’ll need to budget for that in advance).
• With a new build, there’s not much room for negotiating price once you factor in the cost of land and construction, depending on your region.
• There can be hidden costs that pop up depending on the upgrades and finishes you choose. Talking with your architect beforehand will help uncover some of these costs in advance.

Financing new construction

A loan for building a new home has some different financing elements than a traditional home loan. Specifically, it has the initial purchase of the land where you will build and the construction materials and labor to construct the home.

A one-time close construction home loan option is designed to help you borrow just what you need to customize exactly what you want, while only closing once.

Initially, this one-time loan supports the purchase of the lot and helps finance construction labor and building supplies. During construction, payments are interest only. Once the home is complete, there’s only one set of closing costs and documents, saving you time, money, and paperwork. The loan then automatically converts to a permanent loan and serves as your mortgage.

Building your dream home is a major project, but the home loan solutions available are designed so you can make more decisions about your finishes, not your financing.

Doctors were forced to remove a large section of Jeff’s skull in order to relieve the dangerous swelling in his brain. The respected soldier and owner of three Purple Hearts returned home to California to begin his rehab. With his Marine Corps service complete, Jeff bought a four-bedroom house and began the next chapter of his life.

A first-time homebuyer, Jeff’s new home provided plenty of space for his service dog, Layla, a red-nosed Pitbull. His new home was a much-needed sanctuary. It represented a break from the chaos he experienced in the military and was a safe space to call his very own.

Since purchasing the property, Jeff has started renting to other retired military veterans in need of a safe and comfortable place to live. The living room serves as the gathering place for Jeff and his roommates, whom Jeff fondly calls his “family.”

Like any real family, there’s plenty of growing pains – especially when two retired Marines live with a Navy vet. Jeff and his roommates aren’t discriminatory about military branches, but that doesn’t mean they don’t razz on the lone Navy roomie. It’s all in good fun.

Since purchasing his home, Jeff’s health is improving, and he considers his transition to civilian life a success. Layla is no longer a pup. At 13-years-old, she’s still as vibrant and friendly as ever, though she has more gray whiskers.

The home has aged, too. Jeff decided it was time to make substantial updates and improvements to his property. He was eager to begin installing new flooring. The living room needed new furniture, and the washer and dryer needed an upgrade to keep up with the demand of two additional adult roommates (and the occasional doggy bed). He considered his financing options and chose a VA refinance loan.

As Jeff began the loan process, he had no idea a new emotional journey was about to begin.

The Battle for a Home Consolidation Loan Begins

Through the VA refinance loan, Jeff sought to simplify his debt payments. Instead of paying off multiple loans of varying interest rates to multiple sources, this VA-backed home consolidation loan bundles multiple loan payments into one single loan that is tied to the home’s equity. In addition, Jeff wanted to change his adjustable-rate mortgage loan (ARM) into a 30-year fixed-rate loan to lock in a low interest rate through the life of his new loan.

Jeff first sought a home consolidation loan with three large national banks. The experience wasn’t positive. Jeff didn’t like feeling as if he was one of a million other daily transactions.

As a combat vet, Jeff desired to work alongside somebody he could rely on, an expert who would educate him and support him throughout the entire process. The big banks were impersonal and included too many loopholes. The process was complex and dragged on with seemingly no end.

Jeff had the equity he needed, yet it began to look like a home consolidation loan wasn’t possible. The new flooring would have to wait, indefinitely. To make matters worse, he suddenly found himself with a bill for $10,000 worth of termite damage caused by a negligent home inspection.

A Personal Advocate Offers a New Path to Success

Donna Muzzi Delno is a senior mortgage loan officer with Evergreen Home Loans in Roseville, CA. Donna connected with Jeff through his sister and began assessing the details of Jeff’s loan request.

Donna was diligent and attentive. She remained committed to finding a solution. This personal focus proved critical when Donna helped Jeff secure a $20,000 grant to pay off his termite repairs.

Donna wasn’t the only home loan expert on Jeff’s team. She had support from the entire Evergreen Home Loans network, including Donna’s trusted loan processor, Kristen Henderson. Together, Donna and her colleagues rolled up their sleeves to solve the ongoing issues with Jeff’s original home loan consolidation attempts. “Jeff is my hero,” says Donna. “I was more than happy to help him navigate the unexpected twists and turns of his loan request.”

When Jeff received news that his loan was approved, a wave of relief hit him. He describes it as a moment of “true sincerity.” For the former combat Marine, success meant he could refocus on the things that mattered most, including his health and continued recovery.

Jeff’s new consolidated, fixed-rate loan saves him $661 a month. His credit has been boosted by 60 points. Donna even discovered that Jeff’s bank owed him $2,500, which she helped Jeff retrieve. He immediately purchased a washer and dryer, with additional upgrades on the horizon. Jeff’s renters couldn’t be happier.

 At Evergreen Home Loans™ we believe charity begins at home. And we’re proud of our associates for taking time to support local causes and contribute to the communities they live and work in.

Recently, our Home Office Human Resources team volunteered at Food Lifeline, an organization dedicated to solving hunger in Western Washington. At the Food Lifeline Hunger Solution Center, volunteers sort and pack food from farmers, manufacturers, grocery stores, restaurants, and other businesses. This allows Food Lifeline to save millions of pounds of food from waste and distribute it to local food banks, shelters, and other meal programs.

The Evergreen HR team sorted pears from smaller boxes into larger pallets, picking out the best fruit to keep. In just a few hours, the team helped provide 1,212 meals for community members in need.

“My favorite part of volunteering at Food Lifeline was getting together as a group and seeing how many meals were provided,” said Whitney Goodrich, Associate Regional HR Partner, “It makes me feel so grateful to contribute.”

The team said they enjoyed the time they spent together and it reminded them how important it is to volunteer. Even just a few hours can have a big impact.  

VP of Human Resources Jessie Hibbard mentioned that her favorite part was working for a company that supports giving back to the community and making events like this possible. The Evergreen Cares Foundation was established to empower associates to give back to causes they believe in most. The Foundation contributes one paid (eight hour) day for associates to volunteer and offers a matching program for qualifying charitable organizations.

Evergreen is proud of our HR team for their volunteer work and of all our associates who make a difference in their communities every single day.

We’ve tried to make it easier with a few resources and calculators to help you as you think about your homeownership and financial goals. Here are a few resources to consider:

Payment/Amortization

Amortization is the gradual reduction of a debt over a given period. Unlike other repayment models, an amortization repayment covers both principal and interest in a fixed monthly payment.

If you’re negotiating the price of a home, debating the length of a mortgage, or wondering if your interest rate is too high, our Payment/Amortization calculator can help break down your mortgage debt over the life of the loan and show you exactly what you pay each month.

Rent vs. Own

For many, renting a home seems like the only option. However, owning a home is often more in reach than you might expect.

Our Rent vs. Own calculator will help you compare the costs over time of renting versus buying a home and will provide a suggestion on which option makes sense for you.

 Debt Consolidation

Debt consolidation combines multiple debts into a single payment to make your payment process easier. It works best when your debt is not excessive and if you have good credit you plan to keep in check. If your total debt, excluding your mortgage, is less than 40% of your gross income and you consistently have cash flow to cover your debt payments, you may be in a good place to consolidate.

To see what you would pay if you were to consolidate, try our Debt Consolidation calculator.

Prepayment Savings

If you’re financially stable and able to make additional mortgage payments each month or year, you could decrease your interest costs by shortening the life of your loan. Use our Prepayment Savings calculator to see how much you could save by simply paying a little more each month.

Early Payoff

Similar to the Prepayment Savings calculator, our Early Payoff calculator can help existing homeowners determine how much they need to pay toward their mortgage each month to pay it off by a certain time.

Refinance Break-Even Point

If making additional payments toward your mortgage doesn’t seem like the best fit for you, consider refinancing your loan. This could change the lifespan of or interest on your current loan and save you money over time. Our Refinance Break-Even Point calculator will show you the number of months required to break even should you refinance.

No matter where you are in your homeownership journey, our handy home loan mortgage calculators can help you keep your finances in check.

What Information does a Home Inspection Provide?

Purchasing a home is one of life’s biggest investments and the home inspection could help you confidently move forward. During the inspection, a trained home inspector visually examines the house’s physical condition and structural integrity. After their assessment, they produce a home inspection report that provides information about any issues, out-of-code systems, or potential repairs needed down the road.

Every home is different; the ultimate demands of the inspection process might vary between homes. There are a few general items on a home inspection checklist:

• Heating and cooling systems
• Electrical and plumbing
• Attic, basement, insulation, and roofing
• Doors and windows
• The foundation and related structural elements

The home inspection report is ultimately a tool to help you answer one question: Is the home in good shape?

What to do with the Home Inspection Report

 The home inspection is complete. What now?

Your real estate agent can help you navigate the home inspection report and address its findings. As part of your purchase agreement, you’ll likely negotiate with the seller to repair any issues or out-of-code systems. Also, if your home is a new build you might resolve issues with the builder.

Touch up paint or an out-of-code water heater might not make you rethink your purchase, but other issues could. It’s important to be cautious of major issues that could affect the future value of the home, or the health and safety of your family.

Consult your real estate agent if you need advice or support after receiving the report. 

Hire a Home Inspector You Trust

Do your research when choosing a home inspector. It’s a good idea to hire someone familiar with the types of residential properties found in your region. Your real estate agent, other homeowners, or online resources like the American Society of Home Inspectors (ASHI) have reputable recommendations. Review sites can offer additional insight into other’s experiences, which can help you decide who to use.

A home inspection is a valuable tool for homebuyers. It provides important information about fixes that can be negotiated with the seller before the purchase it complete. Most importantly, a home inspection provides peace of mind about your big investment. It confirms that the dream home, is indeed, a dream come true for you and your family.

A VA loan, is a powerful ally for eligible Veterans and military service members looking to finance a home purchase. Backed by the U.S. Department of Veterans Affairs (VA), the purpose of a VA loan is to provide increased flexibility for Veterans who are ready to bunk at a permanent address as homeowners.  

A brief overview of Veteran and service member eligibility

If you served in the military or the National Guard, then a VA loan may be an option you can consider. There are different thresholds for eligibility depending on length of your wartime or peacetime service experience. According to the VA benefits and eligibility website:

• Military members must actively serve a minimum of 90 consecutive days during wartime, or 181 consecutive days during peacetime.
• National Guard reservists must complete six credible years of service.
• An honorable discharge from service is required if no longer active.
• Service members who completed less than the mandatory service time may be eligible if they were discharged due to a service-connected disability.

Surviving spouses of military personnel are also eligible to receive VA loan benefits. In addition, you can use your eligibility to acquire multiple VA loans. Make sure you check out the full benefits available to military personnel on the VA benefits website.

Why is a VA loan appealing to Veterans and active-duty service members?

A VA loan can increase the purchasing power for Veterans and active-duty service members who are in the market for a home.

With a VA loan, no down payment is required if a home’s purchase price falls below a predetermined limit. Starting in early 2020, this will change thanks to the Blue Water Navy Veterans Act of 2019, which will eliminate the cap on VA loan amounts. That’s right; eligible Veteran homebuyers could purchase a home with no money down. Many homebuyers delay their home search in order to save up for a down payment. With a VA loan, eligible homebuyers could purchase a home sooner and enjoy all the benefits of homeownership. In addition, mortgage insurance isn’t required. This means that eligible Veterans can finance 100 percent of their home purchase without incurring additional payments for mortgage insurance.

On top of reducing up-front costs and fees, an additional benefit of the VA loan is greater flexibility with eligible buyers’ debt-to-income ratio. A debt-to-income ratio is a common method for conventional loan (non-VA loan) lenders to gauge whether borrowers can afford their monthly mortgage payments.

VA benefits support loan refinancing, too. For any Veteran or current service member interested in refinancing through a VA refinance loan, a recent blog post shares the triumphs of a Veteran who sought to consolidate his debt.

Applying for a VA loan

The chief concern of any home loan lender is to determine how much house a client can afford. It’s important for an eligible Veteran to pick a home loan lender with ample experience supporting Veterans and military service members with VA loans. Your home loan officer is there to help you through the financing and home purchasing process. With a preapproval in hand, eligible Veterans are competitive buyers in the market.

Evergreen Home Loans™ has extensive experience supporting Veterans and active-duty service members who are in the hunt for a new home. Our home loan experts are your advocates for the homebuying process by answering all your questions and working to simplify the VA loan process for you and your family.

Frequently asked questions:

The VA funding fee is a one-time payment that eligible borrowers typically make to the VA when they secure a VA loan. Some borrowers may qualify for an exemption from paying this fee.

Do VA loans require private mortgage insurance (PMI)?  

VA loans do not require PMI or any other type of ongoing mortgage insurance.

Can I buy land with a VA Loan?

You cannot buy land by itself with a VA loan; however, you can secure a VA construction loan to both buy land and build a primary residence on it.

How do I apply for a VA loan?

To begin the process of applying for a VA loan, it’s a good idea to verify your VA benefit eligibility. You can determine this information by obtaining your Certificate of Eligibility (COE), or your loan officer might be able to directly obtain this for you. Once verified, you can apply for a loan with any VA-approved lender.

Can a VA loan be used to refinance an existing home loan?

Refinancing an existing home with a VA loan is possible. Refinance VA loan programs include a cash-out or a Streamline. Also known as an Interest Rate Reduction Refinance Loan (IRRRL), a Streamline refinance lets eligible borrowers use their prior VA loan entitlement.

When it’s time to sell your home, a little preplanning could reward you with a faster sale and potentially larger return on your investment. Below, we share some helpful tips to increase the chances of a speedy sale.

Focus on the Presentation

 It’s important to make your home look presentable to potential buyers, even if you’re still living there. This could involve decluttering all rooms, minimizing the number of items in your home or performing a deep clean.

Removing family photos and personalized decorations is another thing to keep in mind. Potential buyers visiting your home don’t want to feel like they’re intruding on your personal space. Taking the past out of the equation lets them focus on their family’s future.  

Don’t forget to consider beautifying the exterior, too. That doesn’t mean you need to build a new deck, but you do want to show your home is cared for. Some fresh sod, clean gutters or a mended fence go a long way. Potential buyers don’t want to arrive and immediately consider the number of weekends it will take to fix up the property’s exterior.

Let the Pro’s Work Their Magic

 Working together with a real estate agent could help you generate interest from more buyers. After all, they’re the experts and know what works. An agent can help you successfully stage your home and acquire quality photos for the listing. When potential homebuyers browse real estate listings, quality photos of a well-staged home may attract their attention and increase the likelihood they’ll visit an open house.

Professional, experienced and respected relationships in the real estate arena are important to have on your team.

Don’t Forget to Update

 Your home might need some upgrades or repairs. It’s okay if you don’t address everything down to a paint scratch on a wall. The future buyer can purchase your home keeping its potential in mind. The goal is to create an appealing first impression that can help them fall in love and envision the home’s possibilities.

Selling a home is an emotional process – memories resurface and many exciting “firsts” await you. A fast sell could move you toward your next life goal. The home loan experts at Evergreen Home Loans are here to help you achieve success in every phase of the homeownership journey.

Despite the commotion of 2020, the homebuying market is promising. A recent report by Freddie Mac, a federally sponsored buyer of mortgage loans, predicts the housing market in will remain strong in 2020. The report predicts over $6.1 million in home sales and a surge of more than $785 billion in refinanced mortgage loans.

What are some homebuying trends to look out for in 2020?

A new age of homebuyers

 As baby boomers reach retirement and millennials find stability in adulthood, homebuying will change for both generations. According to a study by Harvard Joint Center for Housing Studies, by 2035, one third of U.S. households will be headed by someone over the age of 65.

For those reaching the age of retirement, this could mean downsizing into a more fitting space. Or, it could mean financing a second home somewhere warm for the winter months. Perhaps it means moving out of a city to a home with more acreage. No matter the situation, this population of more than 79 million will continue to prefer to own rather than rent in the new year.

For millennials, most home purchases will be for the first time. The National Association of Realtors’ (NRA) chief economist indicates that 85% of millennials view their home purchase as a good financial investment. Many of these adults have children and pets and no longer consider renting as a valuable option.

Increased competition will help improve balance in the market

 In 2020, Redfin predicts low mortgage rates to hover around 3.8%, sparking high buyer interest. This will result in more competition for homebuying options. With fewer homes to choose from in 2020, sellers who may have been waiting for better market stabilization will now have the opportunity to list, with one in four offers expected to face a bidding war compared to only one in 10 in 2019, according to Redfin.

Competition increase will also likely result in an annual price growth up to 6%, enticing more homebuyers and builders to list homes and helping improve the balance between supply and demand in the market through 2020. Low housing inventory and mortgage rate trends will only boost affordability and bring out more buyers in 2020.

What’s it all mean?

Although you may feel uncertain about the future, home buying in the new year is stable. As various generations end the decade, they reach a new potential in homebuying, whether it be for the first time or the fifth.

Make 2020 the year you finally come home. Contact an Evergreen loan officer today about taking the step toward home ownership. 

No matter what stage you’re at in life, you’ve made the decision: It’s time to buy a home.

Where to begin?

 Many consider checking real estate listings and attending open houses the first step to buying a home.

If this is you – WAIT. Evergreen Home Loans is here to tell you there is a more important first step: Get preapproved for a home loan.

Getting preapproved

Getting preapproved for a home loan is the key to determining the monthly mortgage payment you can afford. Think of preapproval as a doctor’s checkup, but instead of examining your health, you’re examining your finances. The final assessment of your financial wellness will determine if you’re in the right place to purchase a home.

There is no set timeline for the preapproval process. The complexity of your finances – such as whether or not you’ve made home purchases or taken out past loans – will all play a factor in the duration of your application.

What you need to be preapproved

 Just like your doctor, you should expect your home loan officer to conduct a thorough check during the application process. But, just like the doctor, it’s all to make sure you’re in perfect shape by the time you’re done.

You will need the following information*:

• Social security number
• Most recent months’ pay stub(s)
• Most recent two years’ W-2s
• Two months’ recent bank statements (all pages)
• If self-employed or commissioned, year-to-date Profit & Loss and Balance Sheets, and most recent two years’ tax returns

*Depending on your personal circumstances, more or less information may be required.

While it may seem like a lot to round up, these documents prevent you from taking out too big of a loan and ensure you will be prepared to pay back your loan in full. Your loan officer will get to know each borrower’s specific situation so they can help you on a case by case basis. They will let you know the exact documents you need and inform you of any exemptions or special requirements you may qualify for.

 That’s it!

Once you get preapproved, let the house hunting begin!

Most preapprovals are valid for 60 to 90 days. Now is the time to grab listings, attend open houses and if you find the one, put down an offer. An Evergreen loan officer will be by your side every step of the way to ensure the process goes as smoothly as possible and get you into your dream home as quickly as possible.

Please note: Preapproval is not a commitment to lend and is subject to satisfactory loan conditions including a completed application and property appraisal.

Interested in buying a home? Visit us online at https://www.evergreenhomeloans.com/.

When it comes to down payments, one size does not fit all. In fact, it can mean vastly different things for different people in tremendously different situations.

While down payments can seem scary, this fear is often premature. Down payments are surrounded by a multitude of myths, making the process seem much more difficult to navigate than it is. Luckily, we’ve taken the time to debunk some of the common misconceptions.

Myth #1: You have to put a minimum of 20% down.

Long gone are the days of needing a 20% down payment. In today’s market, there are a variety of loan options that require low or no down payment options.

Depending on your situation, you could qualify for low down payment programs. Some programs include the Federal Housing Administration (FHA), the U.S. Department of Veterans Affairs (VA) and the U.S. Department of Agriculture (USDA).

Other options include down payment assistance and low-to-moderate-income programs. You can learn more about your options here, or contact an Evergreen Home Loans loan officer to see if you qualify.

Myth #2: The larger the down payment, the better.

Though it is true that larger down payments can reduce the cost of your loan, this may not be a viable option for everyone.

It is important to consider and discuss your current financial situation with your loan officer who can advise you on the right size down payment. They can help you build out a plan on how much you would like to put down initially and how much you can afford to pay each month. It’s important to note, you should always factor in additional moving costs and incidental spending when considering your down payment options.

Myth #3: The down payment is the only cost due at closing time.

It’s a good idea to budget extra money as a buffer when planning your down payment. When it’s time to close, you may also be responsible for additional closing costs, which could impact the initial amount needed to close.

A general rule of thumb for estimating closing costs is to calculate 2-5% of the average home price in the neighborhood in which you’re looking to purchase. These costs can vary depending on the type of loan you’ve chosen and the property you intend to purchase. Our team of loan officers can help you factor these additional costs into your budget from the start, so they don’t catch you by surprise later on.

Learn more about closing costs here, or contact one of Evergreen’s local home loan experts.

Securing your down payment is one of the most important steps in purchasing your dream home at a price you can afford. Contact a home loan officer today to learn more about the home buying process.

Spring is usually peak time for homebuying. This spring, however, is vastly different due to the unprecedented outbreak of COVID-19.

When the U.S. saw its first case in January 2020, nobody was quite sure how it would affect the country. Since then, the economy — both locally and nationally — has halted after more than nine years of economic growth; more than 40 states have declared a stay-at-home order or something similar.

In the midst of a national state of emergency, many are wondering how this will affect the housing market and what the future holds. Continued record low interest rates are driving refinance opportunities and many of the busiest markets in the United States are seeing positive real estate activity.  

Challenges of Physical Distancing and Real Estate Activity

Nearly every U.S. state is in a lock down of some variation. Whether it’s a shelter in place or a stay-at-home order, society has had to think of new ways to continue business operations and social interaction while maintaining a physical distance of at least 6 feet.

With finance companies defined as an essential industry, real estate transactions have changed. Appointments previously conducted in person are cancelled or postponed. Realtors have adjusted to open houses via livestreams or video calls.

Despite these challenges, there are ways for the industry to carry on.

Here at Evergreen Home Loans, our digital closings platform allowed us to adapt to the rapidly changing environment and process mortgage transactions in all six states where we operate while following government-mandated physical distancing orders.

Digital closings are a way to process closing documents through an online platform deployed by Evergreen.  The portal allows borrowers to access, review and sign a majority of closing documents from their handheld or desktop device. Documents can be accessed from anywhere, eliminating the need for borrowers to leave their home unless critically necessary. In some states, you can even use Remote Online Notarization (RON) - which means you virtually meet with a notary and they apply an electronic notary seal to your documents. This removes the need to meet in-person with a notary for documents that require notarization.

We know it’s our duty as an essential business to help our clients continue with their real estate transactions, and digital closings allows this to move forward. No matter where you are, we can help get you home.

Interested in learning more about our eClose program and closing remotely? Check out our Digital Mortgage Advantage page.  

Digital closings or eClose are a way to process the closing documents for a home loan through an online platform deployed by Evergreen.  The portal allows borrowers to access, review and sign a majority of closing documents from their handheld or desktop device. Documents can be accessed from anywhere, eliminating the need for borrowers to leave their home unless critically necessary.

For most transactions, documents are available to view three days in advance of the earliest closing date. Evergreen customers receive a link directing them to the online closing portal. Two-step authentication factors ensure privacy and security. Once the closing documents are reviewed, customers can eSign in the portal or chose to wet sign all of their documents at a closing appointment.

Most documents can be signed electronically through the portal. Some states have even moved to allow Remote Online Notarization (RON) technology. If a physical notary is unavailable, a remote notary might be an option. Customers video conference with a notary, produce an ID, and the notary places a digital notary seal on the document.

In states where remote online notaries are not authorized or available, the handful of documents that cannot be eSigned are signed with a wet signature in person. Often in 10 minutes or less. This gives the customer peace of mind during the closing process and lets them quickly shift their focus to the celebration of their new home or refinance.

The eClose technology deployed by Evergreen Home Loans helps our customers close their real estate transactions with minimal disruption., Which in the age of COVID-19 are critically important. No matter where you are, we can help get you home.

Interested in learning more about our eClose program and closing remotely? Contact your nearest branch location.

The fact is, if your business isn’t able to adapt to changing technology — now more than ever — its lagging.

Digital closings are a way to process closing documents through an online platform deployed by Evergreen. The portal allows borrowers to access, review and sign a majority of closing documents from their handheld or desktop device. Documents can be accessed from anywhere, eliminating the need for borrowers to leave their home unless critically necessary. In some states, you can even use Remote Online Notarization (RON). This allows the customer to meet virtually with a notary. After verifying the customer’s ID, the notary will place a digital notary seal on the required documents. It also saves the lender or escrow company a significant amount of time and the ability to facilitate more closing appointments.

In 2019, Evergreen completed more than 5,000 digital closings, accounting for 40% of all loans closed that year. As a direct correlation, 2019 was a record year of funding for Evergreen, the highest in company history.

• An average of 70% of eligible loans close with eClose
• In February 2020, over 85% of customers previewed their closing documents online

Reaching the 5,000 mark shows that consumers and business partners are looking for a digital solution that makes the closing process easier and meets consumers where they are—in the palm of their hands.

In 2020, Evergreen plans to expand its offering even further by implementing electronic Notes for delivery to Fannie Mae and Freddie Mac. Currently, Evergreen employs other digital mortgage options, such as asset aggregation and income automation for an even more seamless consumer experience.

Even after COVID-19, changes to processes like digital closings will become more prevalent. Technology will continue to drive consumer decisions, and many services previously conducted in person will move to online options.

If you’re in the mortgage or real estate industry, it’s time to consider digital closings. Online offerings save time and resources and improve consumer satisfaction, which in turn improves business and reputation. A digital close is relevant and advantageous no matter the current environment. 

Interested in learning more about our eClose program and closing remotely? Find more information on Digital Mortgage Advantages or contact your nearest branch location.

The Notary will verify the signer’s identity and apply a digital signature and notary seal to the applicable documents. Traditionally, the signer would meet in-person with the Notary to verify their identity, even if they’re eSigning some of their documents.  

For many years, states required the signer to appear personally in front of the Notary. This helped prevent fraud and protect any interested party in the transaction. With the advent of technology, some states allowed RON as an option, enabling signers to complete their documents from anywhere. Now, with shelter-in-place orders and social distancing, conducting business remotely is more important than ever. Many states have enacted temporary authorization for RON under special emergency rules.

If you live in a state that allows RON, this could be used during your home loan. At closing, instead of meeting with the Notary to sign the documents that require notarization, you could participate in a video exchange. Pair that with our eClose program and you have a streamlined and remote closing!

Though many states are using RON either as a full-time solution or a temporary one, there are a few states like California that haven’t adopted RON yet. If you live in a state that doesn’t allow RON, you can still enjoy the benefits of an eClose.

With our eClose program you can preview your closing documents up to 3 days before signing. Giving you a chance to ask questions and ensure accuracy. And in most cases, you can eSign a majority of the closing documents from an internet-enable device. The difference is you would meet the Notary in-person to finish signing your notarized documents.

Interested in remote closing options for your home loan? Contact a loan officer near you to learn more.

Northwest Harvest, the area’s leading hunger relief agency, geared up quickly to meet the need of food insecure individuals in Washington and Oregon through food boxes distributed across both states.

This hunger crisis was unacceptable to Seattle Mariners’ pitcher Marco Gonzales and his wife Monica, a nutritionist. They sprang into action in support of Northwest Harvest and the kids in need. “We’ve had the pleasure to get to know Northwest Harvest over the years through the Seattle Mariners’ Cares Foundation,” said Monica Gonzales. “We see the impact it has on our community and knew we had to help.”

In June, they launched the Gonzales Family Peanut Butter Drive to raise $40,000, enough to fund peanut butter sandwiches for every child in need in Washington. Each dollar raised is enough to create 10 sandwiches.

“As a nutritionist, I know that peanut butter is a great source of protein and energy for kids, while still being low in sugar. We thought this was a great way to reach the kids in need and help those impacted by the COVID-19 crisis,” said Monica.

Between the Evergreen Cares Foundation and support from the Bellevue branch, Evergreen raised $11,625, enough to provide 116,000 peanut butter sandwiches. In total, the fundraiser received $54,123 to create over 540,000 peanut butter sandwiches, more than enough to feed all the kids in need in the state.

“The Evergreen Cares Foundation and all of our associates were proud to support the Gonzales Family Peanut Butter Drive and Northwest Harvest,” said Don Burton, President, Evergreen Home Loans. “We commend Marco and Monica for their leadership. It was a great success and we’re happy to play a part in feeding children in need around the state.”

Once the drive was over, Marco and Monica visited the Northwest Harvest facility in the SoDo neighborhood of Seattle and rolled up their sleeves to make sandwiches.

“In total, we helped make 500 sandwiches during a two-and-a-half-hour shift,” said Monica. “Marco was channeling his competitive spirit to get as many done as possible while we were there. Childhood hunger is a huge issue across our country and it’s something that should be a priority for us all to address in the near future. As much as we wanted to raise funds for all of those in need, we wanted to raise awareness to the need locally.”

You can learn more about Northwest Harvest and donate today at https://www.northwestharvest.org/.

We interviewed Jeanne Hussin, our Vice President, Director of Marketing, who happened to be our first customer to complete a closing with eNote and a remote online notarization (RON) session. She gives us the scoop on what it’s like to close a home loan remotely along with some helpful advice. Her loan officer Matt Zender in our Bellevue branch also offers some insights and tips.

Before we get to the interview, here’s how a remote closing works.

First, if your home loan is eligible, you’ll participate in an eClose. This process allows you to preview and eSign a majority of your closing documents from any internet-enabled device. In Jeanne’s case she was also eligible to eSign the promissory note or Note. This is called an eNote. Typically, you physically sign the promissory note.

Second, some closing documents require meeting with a Notary either in-person or virtually. To meet virtually with a Notary, you’ll use a process called remote online notarization (RON). Not all loan types are eligible and RON isn’t available in all states, so check with your lender to see if this is an option.

If RON is an option for your home loan, you’ll meet with a Notary over a video conference session. You’ll receive an email with a link ahead of time and log into the session. The Notary will verify your identification and apply a digital signature and seal to your closing documents. Allowing you to complete your closing remotely!

Ready to get an inside look at a remote home loan closing? Check out our interview with Jeanne and her loan officer Matt.

Q: Can you describe the process of meeting with a Remote Online Notary? Did you engage in a video call on your phone, computer, etc.? How did you identify yourself?

Jeanne: It was incredibly fast and easy! It took far less time to do than an in-person closing. We needed to scan and upload our driver’s license and upload a selfie to identify ourselves. We did that on our phones. The only thing that surprised me was that my husband and I had to video call on separate devices because we eSigned separately. We were both home and used our laptops for the experience. The notary invited us to read through each of the pages or we could just sign. It took about 5 minutes from beginning to end.

Q: How did this home loan closing compare to any previous closings?

Jeanne: With everything being online, the process was so much faster! It was convenient and ideal especially during this time of social distancing.

Q: What was the biggest benefit with using an eClose and RON session?

Jeanne: The biggest benefit was the convenience of signing at home and without having someone come into our home.

Matt: I’ve found that my customers experience a smooth and quick closing as a result of eClose and RON.

Q: Would you prefer using a Remote Online Notary and eClosing in the future? After social-distancing?

Jeanne: Absolutely. I’m all about saving time and money. This saved time, gas, and worked within our schedules. There was absolutely no down-side to doing this.

Q: Do you have any advice for other customers about the eClose or RON process?

Jeanne: Just do it! You’ll never go back to the in-person method! Make sure that you have a high-speed internet connection and read your documents in advance so you are prepared to sign quickly.

Matt:  Keep track of your passwords so that when it’s time to sign you’re ready to go.

Interested in learning more about remote home loan closings? Contact a loan officer near you for more information.

Expectations of home changed for many people. For example, a space that previously met your needs may no longer be accommodating. Or perhaps you discovered a newfound appreciation for your home after realizing how crucial your living space is to overall productivity, happiness and comfort.

Now that home is more important than ever, here are a few things to consider if you’re deciding between renting or buying a home.

How Long Will You Stay?

If you’re choosing between buying and renting a home, something you should ask yourself is, “Is this where I see myself living in the long-run?” If you think you found your forever spot, buying a home can be a better investment. On the other hand, the one thing you can’t change when you purchase a home is the location. If you see yourself moving to a new area within a few years, consider renting.

Comparing Costs

It’s common for prospective homeowners to compare the costs associated with buying vs. renting. We’ve simplified this process for you with our Rent vs. Own calculator. While this tool doesn’t provide the full picture of homebuying costs, it’s certainly a good place to start.

For example, a mortgage doesn’t represent all of the costs associated with purchasing a home. Remember to factor in additional costs like maintenance fees, insurance, HOA dues and property taxes.

Even if your mortgage payment is less expensive than your monthly rent, these other costs should be considered before you jump into homeownership.

What Are Your Long-Term Financial Goals?

Many people prefer owning so they can build equity and invest their money into a home that will appreciate in value over time.

Equity is the difference between the value of your home and the amount owed on your mortgage. The more you pay on your mortgage, the more your equity grows. Additionally, the higher the value of your home, the more your equity grows. If you sell your home, you could use your equity as the down payment on a future home. Or, if you’re eligible, you could refinance and potentially withdraw funds to use on other large expenses like education or home renovations.

However, it can be difficult to calculate how much your future home may be worth due to factors in the economy and housing market. Finding the annual price appreciation of your home shows an estimate of how much your property will increase in value over X amount of time. Remember to calculate the inflation rate, too, for the most accurate estimate.

Weighing the potential equity of your home while considering your other long-term, financial goals is a great way to determine if it makes sense for you to continue renting or purchase a home of your own.

There are pros and cons to both buying and renting, so take time to think about which would best fit in your lifestyle and be the most realistic for your finances. If you’re ready to take the step into homeownership but aren’t sure where to start, an Evergreen Home Loans™ loan officer can help answer your questions. Contact us to get started.

Gift funds are funds a homebuyer receives from an acceptable donor that typically help with the down payment, closing costs or financial reserves. They could be from an individual person, an organization or another party, and are given to the homebuyer without expectation of repayment. Depending on the home loan program, the criteria for an acceptable donor may differ.

If you’re interested in using gift funds to help with your home financing, here are some items to consider:

Conventional Gift Funds

With a conventional home loan, gift funds can come from a relative, such as a parent or legal guardian, spouse, child or dependent, grandparent, domestic partner or fiancé. Think of this as a gift from a loved one who’s helping you take the step to home ownership.

Keep in mind, the funds must be from a legal relative—loans from trusts, estates, real estate agents, etc. are not eligible. They’re also required to be, as the name states, a true gift with no expectation of repayment. Often, your mortgage lender will require documentation from both parties that the funds are a gift and will not be repaid.

FHA Gift Funds

With an FHA loan, gift funds can come from close friends, charitable organizations, government agencies or relatives as defined by the United States Department of Housing and Urban Development (HUD). By this definition, there’s a wider range of what qualifies as a relative, including not only those by blood, but also legal guardians, adopted and foster children, in-laws and stepparents, and stepsiblings. Similar to a conventional loan, funds cannot come from a trust, estate, agent or any party interested in the sale of the home.

USDA Gift Funds

On a USDA home loan, gift funds can come from relatives as defined by HUD, charitable organizations, government agencies or public entities. However, after the funds are received and documented, they’re considered the personal funds of the homebuyer.

VA Gift Funds

If you’re an eligible Veteran or your home loan is insured through the Department of Veterans Affairs (VA), gift funds may come from any donor that doesn’t have an affiliation with the builder, developer, real estate agent, or any interested party of the transaction. Just like the other loan programs, there should be no expectation of repayment. Funds may be used towards the down payment, closing costs, or financial reserves.

If you want to buy a home and are nervous about the upfront costs, an Evergreen Home Loans™ loan officer can talk through your options and help find the best plan to get you on your way to home ownership.

A good rule of thumb at the beginning the home buying process is to explore your financing options with a mortgage professional. There are various factors that impact your ability to qualify for a home loan, and what you qualify for can impact your ability to purchase. Finding out what’s realistic for your personal situation could help you find a dream property that’s within reach.

One qualification factor you may hear a lot about is credit which is important to understand. We’re going to take a closer look at what it is from a homeownership journey lens.

What’s my credit report and credit score?

Your credit report is a document that contains your personal information (such as name, birthday, and social security number) as well as an overview of your credit history (open and closed accounts, inquiries, adverse actions, and other factors).

Your credit score is a three-digit number generated by an algorithm that uses information in your credit report. Credit scores can range from 300-850 with higher numbers representing better credit.

Overall, your credit report and credit score make up your credit profile.

How can I view my credit profile?

There are various no-cost resources you can utilize to access your credit report and credit score.

Under federal law, everyone is entitled to one free credit report a year from each nationwide credit bureau: Equifax, Experian, and TransUnion. These reports do not show credit scores, however some websites allow you to view your credit score for free or sometimes your credit card company will provide a free credit score as part of your membership.

Obtaining and reviewing this information will give you an overall picture of where your credit stands.

How does my credit profile impact home financing options?

When you meet with a mortgage professional, they’ll use your credit profile to help calculate interest rates, determine how much home you can comfortably afford, and identify what loan programs are available to you. Credit requirements can differ between programs.

Typically, the better your credit score the better the pricing available to you on a number of things including the interest rate/discount points charged on a home loan. A lower score or derogatory report may result in higher interest rates, which could mean you pay more in the long run.

How do I improve my credit score?

General guidance when shopping for a home is to avoid opening new accounts or skipping payments, and to continue paying down any balances. You also want to keep an eye out for any instances of fraud or inaccuracies and report them as quickly as possible. It can take up to 90 days to correct an error on your credit report, so the sooner you report it the better.

If you have more questions about your credit, consider consulting with a reputable credit counselor for guidance. To learn more about your home financing options, contact an Evergreen Home Loans™ loan officer today.

While many homebuyers believe they need to place 20% down on their home purchase, in today’s market there are a variety of options for low- or no-down payment financing. It’s a good idea to discuss with your home loan officer which options work best for your financial situation.

Once you’ve determined the amount, you’ll also need to identify where the funds are coming from. Some assets may need longer than others to access and it’s helpful to determine ahead of time which funds will be used.

Here are some ways to help fund your down payment: 

Savings

Savings accounts are a great place to start if you’ve been saving up towards a home purchase. Remember to exclude any funds that are earmarked for other purchases or financial goals.  

Gifts from eligible donors¹

Depending on your loan type, you may be able to use gift funds from an eligible source. Most loan types require that the funds be a true gift—meaning there is no expectation of repayment. And some sources, such as a gift from a real estate agent or builder, are ineligible. You can learn more about gift funds here.

Tax refund

If you’re eligible for a tax refund, this could be a great way to source some extra funds. Consider placing your refund in a savings account where you won’t be tempted to use it until your home purchase.

Down payment assistance programs¹

Many local and state governments or other organizations, offer down payment assistance programs to help eligible homebuyers with their home purchase. They may distribute the funds as a grant or a low-interest second loan. While some programs focus specifically on first-time homebuyers, there are also programs based on location, income, and other factors. The amount of funds and eligibility varies by program so make sure to check with your loan officer to see which program may be a good fit for you.

Investment or 401K accounts²

If you have an investment or a 401K account, you may be able to use those assets towards your home purchase. These types of funds may take longer than other accounts to access, so it’s a good idea to learn ahead of time how and when you can use them. It’s also recommended that you consult with a financial advisor as using funds from an investment or 401K account could have tax or other financial implications.

Interested in learning more about down payment options? Contact an Evergreen loan officer near you.

1. Restrictions and limitations apply. Please ask for details.
2. Restrictions and limitations apply. Please ask for details. Consult with a financial advisor on the financial and tax implications of selling investments or borrowing on a 401K plan.

At Evergreen Home Loans™, we regularly make a positive impact in the communities we serve by helping our customers find their way home. We also take pride in awarding our associates with time and resources through our Evergreen Cares Foundation, to support the causes they believe in most and further make a difference in their own communities.

Hunger is one of the top issues that has risen to the forefront of our collective vision as a company. Around 30 percent of Washingtonians currently experience food insecurity, forcing them to choose between food and other vital expenses. On top of this, it’s estimated that nearly 2.2 million Washingtonians may experience food insecurity from now until the end of 2020.

As the only nonprofit foodbank distributor that operates statewide in Washington, Northwest Harvest does exceptional work in pursuit of their vision to make sure that no Washingtonian goes hungry. This organization is a powerful force in assisting those who face food insecurity and one that the community needs now more than ever. Each month, they provide nearly 2 million meals to communities across the state, and we’re honored to support their efforts.

We proudly teamed up with Northwest Harvest this year to serve as the exclusive title sponsor and underwriter for the 23^rd annual “Rock the Harvest” radiothon and online auction, hosted on Seattle-based rock station KZOK. All proceeds from this radiothon benefited Northwest Harvest and its mission to provide nutritious food access across Washington to those who are hungry.

We’re excited to report the 2020 KZOK “Rock the Harvest” radiothon and online auction has raised a total of $116,000, setting a new record for the event. From the bottom of our hearts, we want to thank our Evergreen community and the countless people that tuned in to band together and support this worthy cause.

You can learn more about Northwest Harvest or donate today at https://www.northwestharvest.org/.

One of the documents you’ll sign is called the promissory note. The promissory note (sometimes referred to as the Note) is a legal document signed by the borrower promising to repay a loan. They’re used for many different loan types including student loans, car loans, and mortgages.

Requirements for promissory notes can vary by state, however in general they outline the following terms:

• The payor or the person who is taking out the loan and responsible for repayment
• The payee or the individual or party lending the money
• The start date of the promissory note
• The end date or last day of the scheduled loan
• Principal or total amount borrowed
• Interest rate charged on the principal
• Loan length or how long the loan will last. It may also be called the maturity date.

The promissory note is an important legal document to help ensure the lender and borrower are on the same page regarding the details of the loan and subsequent repayment terms. It also serves as a reference if there are any future questions about the loan.

Most of the time, you will physically sign this document. At Evergreen Home Loans™, some loans are eligible for eNote or the ability to eSign the promissory note. You may be eligible to eSign the Note along with your other closing documents, offering a virtual and streamlined closing. Learn more about the benefits of an eClose here.

Interested in learning more about eNote, eClose, or getting started on your home financing journey? Contact an Evergreen loan officer near you.

The interest rate is the amount a lender charges to borrow the principal loan amount. A borrower will pay back the principal loan amount plus the interest charged on it. The interest rate is determined by current rates and the borrower’s credit profile.

The APR includes the cost of the interest rate plus any broker or lender fees, closing costs, discount points, or rebates. This cost is also expressed as a percentage and should be greater or equal to the interest rate. This number is influenced by the lender as it includes fees which may vary between companies.

Lenders use these two numbers as a way for customers to compare loan options and make an educated decision on the overall cost of a home loan.

When deciding on your home financing, it can be helpful to compare the interest rate and APR of each option. A higher interest rate could mean you’ll pay more over the life of the loan. If comparing between loan options with the same interest rate, a lower APR will reflect fewer upfront fees.

Other factors, such as how long you plan to occupy the home or if you have an adjustable rate mortgage (ARM), can also affect the overall cost of your home loan. For example, if you have an ARM, the interest rate may change in a few years and alter your APR. A trusted mortgage professional will work with you so that you understand the loan process and terminology. This will help you make an informed decision on which home financing option best fits your goals and needs.

Interested in getting started on your homebuying journey? Contact an Evergreen loan officer near you.

Q: If the federal funds rate is at zero, shouldn’t the interest rate on my mortgage be close to zero?

A: The federal funds rate is the interest rate at which banks borrow and lend money from one another. Banks can lend excess money from their reserves on an overnight basis. This has a large impact on the overall economy including employment, inflation, and growth. Though it can influence interest rates for mortgages, auto loans, and credit cards, there’s not a direct correlation.

Q: If the U.S. Treasury Bond is at a low yield, will my mortgage interest rate be lower?

A: While the U.S. Treasury Bond and fixed mortgage interest rates are linked, the treasury bond is not the only thing that influences a mortgage interest rate. An additional factor is Mortgage Backed Securities (MBS). A MBS is a bundle of mortgage loans sold to investors and prices are determined by supply and demand.

Q: Do other factors impact mortgage interest rates?

A: Yes! Other factors influence mortgage interest rates including investor demand for MBS, the yield on the 10-year Treasury notes, and economic and political factors. Additionally, your individual interest rate is based on your credit profile, loan type, and other aspects. You may be offered an interest rate different than what is advertised based on your individual situation.  

Q: When is a good time to pursue home financing?

A: While no one can predict the future or when mortgage interest rates will adjust, working with a trusted mortgage professional can help you make an informed decision on when to pursue home financing.

Interested in learning more about home financing options? Contact an Evergreen loan officer near you.

Currently, the Adverse Market Refinance Fee will apply to all conventional, conforming mortgage refinances with loan balances over $125,000. A conforming mortgage is a home loan that is at or below a certain loan amount. This limit is the cap at which Fannie Mae and Freddie Mac are willing to buy or guarantee a loan. The limits change every year and vary by county.

Some mortgage loan types are exempt from this fee, including:

• Home purchase loans
• FHA, VA, and USDA refinances
• Fannie Mae HomeReady® and Freddie Mac Home Possible® refinance programs
• Conventional refinances with loan balances less than or equal to $125,000
• Jumbo or non-conforming refinance loans

If your refinance is subject to the Adverse Market Refinance Fee, there could still be potential benefits to refinancing. Including:

• Lowering your monthly mortgage payment
• Lowering your interest rate
• Removing private mortgage insurance (PMI)
• Reducing the term on your loan and saving interest over the life of the loan

If you’re a homeowner wondering if it’s a good time to refinance your home, contact a trusted home loan professional. They can help evaluate your current mortgage and see if a refinance is beneficial to your individual situation.

Interested in learning more about refinancing options for your home? Contact an Evergreen loan officer near you.  

HomeReady® is a registered trademark of Fannie Mae. Home Possible® is a registered trademark of Freddie Mac.

Prepare yourself.

Preparation is a vital aspect of physical activity. From adequate hydration and nutrition to a proper warm-up routine, there are various ways to set yourself up for success to achieve your goals. It also helps to prepare yourself (financially) for the home buying process.

What does that look like? Consider putting away funds that will go towards your down payment and closing costs. Setting aside tax refunds or work bonuses and raises will help build up savings. You can also set up automatic transfers into your savings accounts to make saving even easier.

Be consistent.

Consistency, consistency, consistency. That might be a phrase you’re familiar with from an athletic coach or personal trainer. Maintaining a fitness routine is beneficial for seeing results. This concept translates to purchasing a home, too.

When you apply for financing, an underwriter will review your loan package to identify your credibility as a borrower. There are consistent patterns they like to identify including: on-time payments for credit accounts, employment without gaps in the past two years, and deposits into your bank accounts. These are just a few items to keep in mind and there may be flexibility with them.

Keep track of numbers.

Whether your workouts involve strength training exercises with multiple repetitions, cardiovascular exercises that cover a specific amount of mileage, or another activity, tracking statistics can help you monitor progress. And with the home loan process, there are lots of numbers to be aware of to see where you shape up.

It’s particularly helpful to stay on top of your credit profile. Reviewing your credit report and score prior to starting the home buying process is a good idea, to see if there’s anything you can (or need to) work on. For instance, is there an error on your report that needs to be resolved or a debt that could be paid down?

Also, you might want to take advantage of different calculators that exist to assist you with your financial goals. A rent versus own calculator can compare the estimated costs of buying a home to renting. Or, a payment/amortization calculator could calculate your potential monthly payment. A variety of other tools are available as well.

As you can see, financial fitness is an important aspect of buying a home. To fully understand your personal situation and how it may impact your financing options, it’s important to work with a trusted lender and experienced loan officer. Contact us to get started.

An annual homeownership review is typically a quick, bite-size analysis of your home’s value and potential equity. Equity can be approximated by comparing the original purchase price of your home against its current estimated value. Keep in mind that estimated value differs from appraised value, and an appraisal will determine the actual value of your home. Overall, this type of review is helpful in identifying prospective financing options to consider, and common ones are outlined below.

Tapping into your home equity

If the value of your home has increased and/or you’ve paid enough of your current loan down to have positive equity, you might be able to use refinancing as an opportunity to cash out some of that equity.

Many homeowners utilize a cash-out refinance to pay off other debts such as car loans, credit cards, and student loans. It can also be ideal for financing home improvement projects. Or, you could put the funds toward purchasing another property like an investment or second home. Always remember to consult your financial advisor on the consolidation of short-term debt into long-term debt.

Selling your current home and using its equity to upsize or downsize

Life is filled with change and sometimes that involves where you call home. If your current home isn’t meeting your needs anymore, you may want to consider making a move while taking advantage of any equity you’ve built. You could apply it towards the down payment, closing costs, or other moving expenses.

Refinancing to secure more favorable terms

Aside from capitalizing on equity, there are other possible benefits of refinancing. It might allow you to lower your interest rate and monthly payment. Or, reducing your loan term could allow you to save on interest over the life of your loan and pay off your home early.

If you’re interested in prioritizing your home loan health with an annual homeownership review, an Evergreen Home Loans™ loan officer can help.

De-clutter

Clutter, clutter, clutter. That word itself sparks feelings of claustrophobia for some. Maybe your reaction isn’t as intense. Whatever it is, if you’re living in a cluttered space, now’s a great time to clean up and get organized. And that doesn’t need to be an overwhelming process.

Starting small is a good approach. Think baby steps. You can do something simple like designating time on your calendar. Then, when that time comes, tackle one area before moving onto the next. Before you know it, you could be living in a state of Zen.

Start a home repair emergency fund

Owning a home is an exciting journey however homeownership can come with unknowns. That’s why having a home repair emergency fund is a smart move. Review your budget and identify what savings goals make sense for your personal situation.

Complete home improvement projects

Do you have dreams for your home? Start with an action plan and begin by writing everything down. Seeing it on paper might provide some motivation. Next, assign timeframes to your projects. Can some be completed in one month or less? Some in two months or less? Create a realistic timeline for the year. 

Make your home more energy-efficient

How energy-efficient is your home? It's okay if you're unsure. Conducting an efficiency evaluation can help identify areas for improvement. From small-scale projects like upgrading outdated appliances to large-scale projects like installing solar heating, the possibility for adjustments may surprise you. They may have cost-savings benefits, too. ENERGY STAR offers some helpful information on their website.

Prepare for a natural disaster

It’s always a good idea to be prepared for a natural disaster. Do your research and identify the potential disasters that are specific to the area you live in. Once you know those, review the different precautions to take and put together a kit with recommended supplies.

 These are just a few homeownership goals to consider for the New Year. If you have any questions about home financing options, contact one of our home loan experts today.

At Evergreen Home Loans™, we understand the importance of having a strong offer. That’s why we developed our exclusive Security Plus program. Our program takes the hassle out of getting your offer accepted, and we’re so confident in it that we guarantee financing or we pay the seller $5,000^*. Read on to learn more.

Guaranteed buying power

Our Security Plus program provides a fully underwritten loan amount so you can shop with confidence. It presents an advantage over typical prequalification and preapproval letters. When you’re ready to submit an offer, you’ll experience peace of mind knowing you’re already approved.

Faster closings

We do all the work up-front to provide a home financing commitment without a lot of conditions. This results in a streamlined closing with fewer surprises. It may be a great financing option if you need to move quickly.

An offer that sellers can trust

We stand behind our Security Plus program and if we’re unable to provide financing, we’ll pay the seller $5,000^*. When deciding between multiple offers, sellers know they can trust an Evergreen Security Plus approved homebuyer.

You don’t need to embark on your homeownership journey alone. We’re here to help you strengthen your offer and OWN it. If you’d like to learn more about Security Plus or get answers to your home financing questions, connect with an Evergreen loan officer today.

Information is valid as of 02/2021 and is subject to change. *Applies to purchase loans only. To qualify, buyer’s Security Plus Approval/Seller Guarantee Addendum must have been issued by Evergreen and the Seller shall have executed the addendum with their signature. Certain loan types do not qualify for this offer. Restrictions apply.

Navigating this newer normal is an adjustment for everyone involved, and it’s a great opportunity to step into your learning zone. Here are some recommendations for increasing employee engagement, motivation, and performance.

Connect creatively

Connection is important in the workplace and it’s crucial to prioritize when in-person interaction isn’t an option. Consider bringing some fun to your virtual meetings through activities like bingo with custom cards (and prizes, of course), compiling a “favorite things” list among your team members which is a nice chance to connect on a more personal level, or banding together from a distance to support a meaningful cause such as wearing pink for a day during Breast Cancer Awareness Month.

Phone calls just to check in, utilizing messaging platforms like Microsoft Teams, and staying in touch through group texting are also ways to maintain the connection needed to feel like a team. And things like exchanging pet “co-worker” photos or sending relevant memes help promote normalcy and relatability.

Show appreciation

Instead of tracking someone down in the office to express gratitude, there are other opportunities to say thanks. From providing your employees with gift cards as a token of appreciation to giving shout-outs over email, it’s still possible to cultivate an uplifting work environment where people feel valued.

Consider a reward system to boost employee morale at your workplace. At Evergreen Home Loans™, we have one in place that allows employees to send points and recognition to other people in the company for outstanding work. Points can get redeemed for a variety of rewards, such as a paid day off or merchandise.

Provide home office support

Everyone has different needs, and it’s important that employees are provided adequate equipment to set up a functioning home office in order to be comfortable, happy, and productive. Access to IT support is also necessary as technology issues are unavoidable. These may require budget revisions and the investment is worth it.

Additionally, offering cybersecurity resources and training is also beneficial to ensure the safety of customers, employees, and the company. Auditing current systems and processes can help identify areas for improvement. This is feedback you can present to your risk management or related department.

Working from home is overall a big transition from working in an office, especially amidst a pandemic. Finding a balance can take time, and being there for your employees with empathy and patience throughout the experience is vital.

If you’re interested in learning about Evergreen’s people-centric culture and explore current job openings which may include remote work opportunities, visit our Careers page.

Curious about the benefits of refinancing? If you’ve lived in your home for a few years, it may be worth reviewing your existing mortgage to see if a refinance could better serve your financial goals.

A good first step when you’re considering whether or not a refinance makes sense for you, is to review your overall financial plan. This will help you asses which type of refinance will best meet your needs. Here are a few examples of financial goals you may have and how refinancing can help you achieve them:

Paying for an immediate expenses. Do you have a planned or unplanned expense? Your home equity may provide a financing solution! A Cash-Out Refinance allows you to tap into the equity you’ve potentially established, simply by paying your mortgage each month, and turns that equity into a lump cash sum. The money can be used at your discretion making this refinance option a great choice if you have a big budget item planned, such as a home remodel or major home repairs.

Reducing your monthly expenses. If your goal is to reduce what you spend each month, refinancing to a lower interest rate may help. By refinancing to a lower interest rate, the amount you owe on your monthly mortgage payment could be reduced, saving you money each month. In addition, if you purchased your home with a down payment of less than 20% and you have a monthly Mortgage Insurance (MI) payment, refinancing could provide you with the option to remove MI* which could further reduce your monthly payment.

Saving money over time. Reducing the term of your mortgage and paying your loan off sooner has the potential to save you thousands of dollars over the life of your loan. While refinancing to a shorter term may increase your monthly payment, your interest rate will likely be lower and you’ll pay less interest over time. In addition, if you pay Mortgage Insurance as a part of your current mortgage payment, you may also be able to have it removed*, saving you even more money over the term of your loan.  

If you have questions about how refinancing your mortgage could help you reach your financial goals, we’d love to connect you with one of our knowledgeable loan officers. They can answer your questions and provide you with a complementary review of your current mortgage to see if a refinance makes sense for you.

*1. Restrictions apply. Not applicable with all loan products. Ask for details.

Home is a space where people not only live but where they work hard to build their lives. Home is a space where family and friends create special memories together, celebrating the little and big things, and provide support to each other through the twists and turns of life. And, among other things, home is a space where there can be an abundance of love, comfort, security, and stability.

The importance of home inspired us to launch our #ShowYourHome sweepstakes². We ask people to enter by submitting a favorite photo of their home (inside or outside) and telling us why it’s so special to them. In turn, they could win a $5,000 cash prize.

Since launching the sweepstakes, we’ve received many touching entries that highlight why we dedicate ourselves to supporting people in the pursuit of their homeownership dreams, and we want to spread the joy by sharing some of them with you.

“Home” is all my sacrifices and hard work paying off so that my child can grow up in a loving, beautiful house. He is what makes our house “home,” and now he has the backyard I only could’ve dreamt he’d have.

• Kristina King

My favorite place in my home is the balcony. Looking at the greenery and little stream running behind our apartment can always bring a sense of calm even when everything else is hectic.

• Joelle Steichen

A home means to me that my dogs have a safe, loving place to live out their lives in what they think is luxury.

• Travis Hayworth

The garden is our happy place at home. We have watched many things grow there year after year, including our children. It brings us such joy to put in the effort and be rewarded beyond measure.

• Heather Tyson

Our home has provided us a safe and secure neighborhood to raise our children in. It has also been a comfortable and quiet place to confidently bring home a new baby. We are so blessed to live among people who look out for one another.

• Kaitlin Dibble

Many things contribute to the heartfelt meaning of home, and we’d love to hear what makes your home special. Let us know by entering our #ShowYourHome sweepstakes here. You can also follow our Facebook Page to see more submissions.

1. Source: https://www.merriam-webster.com/dictionary/home 2. No purchase is necessary to enter, and winners will be chosen at random. Only one entry per household. Full sweepstakes rules available here.

Outside:

Clean gutters – clear any leaves or other debris from your gutters to make sure your eaves are prepared to withstand winter’s wind and rain.

Trim back trees, bushes, and plants – autumn is a great time to prune back bushes and tree limbs from the exterior of your home. Making sure there is enough space between your landscaping and your home’s exterior can help reduce the risk of damage to your home from windstorms and wild fires. In many cases it’s often good for the health of the plant as well!   

Cover outside faucets – if you live in a climate where temperatures can dip below freezing, be sure to turn off your outside faucets and cover them before the first heavy frost. You can purchase covers from your local hardware store, or if you are in a pinch, you can use an old t-shirt and a plastic bag. Covering your faucets prevents your pipes from bursting.

Rake any fallen leaves – ensure your lawn stays healthy through the winter by raking up and removing any fallen leaves. If your yard space allows, fallen leaves could provide a start to a compost pile as they decompose!

Cover or store outdoor furniture – protect your outside furniture, barbeques, fire pits, and outdoor toys from stormy weather by either covering them or, if you have the space, moving them into storage for the cooler months.

Consider planting spring bulbs – fall is a great time to plant springtime flowers like tulips and daffodils.

Inside:

Change out air filters and clean your vents – in even the cleanest homes, dust and dirt build up overtime. Ensure the air you’re breathing inside is as healthy as possible by cleaning your vents and swapping out your air filters. (Hint – you can use your vacuum attachments to remove dust and dirt from hard to reach ceiling vents.)

Check smoke and carbon monoxide detector batteries – fall is a great time of year to check safety devices like your smoke and carbon monoxide detectors to ensure they are in working order. You may also considering checking your fire extinguisher to ensure it hasn’t expired. Remember to never use propane heaters or stoves indoors.

Check furnace – make sure that the area around your furnace and vents are clear before your heat kicks on. You may consider having your furnace serviced as well.

Consider having flashlights and extra batteries handy – if your flashlights have been used for camping and backyard bonfires this summer you may want to find a place to store them so that they can be easily accessed should you lose power. Convenient storage places include an entryway closet, the kitchen pantry, a nightstand drawer, or under a bathroom sink.

Make it fun! Each season offers its own reasons to celebrate. It can be fun to find ways to include the beauty of fall inside and outside your home. As you prepare your home for cooler temperatures you may also want to take some time to decorate your home with fall touches as a way to celebrate the change in season. Carved pumpkins and chrysanthemums make for cheerful porch décor while mini pumpkins and a warm colors bring the feel of fall indoors.

• No down payment requirement. Perhaps the most popular benefit of a VA loan is that there is no down payment requirement. This reduces the upfront cost needed to purchase a home which could make purchasing a home more affordable.
• Fewer closing costs. Closing costs are transaction fees paid when the sale of a property closes. For loans purchased with a VA loan, these costs can be less than with other mortgage options and in some cases may even be paid by the seller. This benefit further reduces the upfront cost to purchase.
• No monthly Mortgage Insurance payment. Mortgage Insurance (MI) is a requirement on most low down payment loans. It is a monthly fee paid with your mortgage payment that is tied to your loan until certain criteria is met. One benefit of purchasing a home with a VA loan is there is no Mortgage Insurance requirement. This could reduce monthly mortgage payments and save money over the term of the loan when compared to the monthly payment of a low down payment loan that requires Mortgage Insurance.
• Refinance for payment stability. The VA offers a refinancing option called an Interest Rate Reduction Refinance Loan (IRRRL). This financing option is often referred to as a “streamline” refinance and allows eligible homeowners with a current VA home loan to reduce their monthly payment by refinancing to a lower interest rate or refinance from an adjustable rate mortgage to a fixed rate mortgage and potentially stabilize their monthly payments.
• VA Loan benefits do not expire. Eligible borrowers can use a VA loan to purchase a home more than once if they sell the home they bought with a VA-backed loan

Evergreen Home Loans is proud serve our military community by offering VA loans to eligible Veterans, active duty service members, Reserves, members of the National Guard, and qualifying spouses. If you’re curious to see if you or someone you may know could benefit from a VA home loan, reach out to one of our knowledgeable, local loan officers today to get your questions answered.

We established the Evergreen Cares Foundation™ to help our associates make a larger and lasting impact when contributing to meaningful causes in the communities they live, work and play. Disparities faced by our community members were only exacerbated by the COVID-19 pandemic, rendering this kind of support more critical than ever.

Northwest Harvest, Washington’s leading hunger relief agency, estimates 1 in 10 Washingtonians consistently struggle with hunger and 1 in 6 Washington children live in a household that faces challenges with putting enough food on the table. An important component of its work includes the annual “Rock the Harvest” radiothon and online auction, hosted on Seattle-based rock station KZOK. All proceeds from this event benefit Northwest Harvest and its mission to provide access to nutritious food to those across Washington who experience hardships and hunger disparities.

After serving as the exclusive title sponsor and underwriter for a successful “Rock the Harvest” radiothon in 2020, we were honored to return as the sponsor for this year’s event. We set out with the intention to keep the momentum going and build upon last year’s success.

We’re excited to share that the 2021 KZOK “Rock the Harvest” radiothon was another success as many people united to fight against hunger. We thank KZOK and Northwest Harvest for yet another excellent partnership and look forward to the difference the contributions will make.

We also extend our gratitude to our Evergreen Home Loans family and everyone who donated and tuned in to this important event. Every donation, no matter the size, allows Northwest Harvest to keep its mission alive and provide food for those who need it most.

Make your home feel festive with holiday décor.

Adding some small, seasonal accents around your home can be an easy way to make your space feel merry and bright without a lot of effort. Hanging a string of lights, adding evergreen branches to a mantle or table, playing holiday music, or lighting a seasonal scented candle are all simple ways to fill your home with cheer.

Meal plan and prepare food ahead of time.

Whether it’s a casual meal with friends or a time-honored, traditional family meal, preparing food ahead of time can reduce the stress of hosting. Many side dishes can be prepared beforehand and re-heated prior to serving. Consider offering your guests simple appetizers like cheese and crackers or a crudité.

Looking for a fun spin on dessert? Ask your guests to bring a batch of their favorite cookies and host a cookie swap, sending everyone home with a plateful of treats.

Shop local for thoughtful gifts.

This time of year provides an opportunity to show others we appreciate them through gift giving. Shopping at local small businesses for your holiday gifts can be a great way to find unique gifts while supporting your community.

Not sure what the right gift is for someone on your list? Think outside the (gift) box for ideas! Gift cards to locally owned restaurants, hardware stores, spas, or even a local museum can make for memorable experiences.

However you plan to celebrate the holidays, let these tips help make the hustle and bustle of the season a little bit easier. From all of us at Evergreen Home Loans™, we wish you the very best this holiday!

Evergreen Home Loans™ offers a solution for homebuyers who require a mortgage yet need a more competitive edge to help them win over multiple offers—and possibly multiple cash offers. CashUp™ by Evergreen* is a unique program that allows homebuyers to submit a cash offer and waive the financing and appraisal contingencies.

CashUp can offer an advantage to homebuyers in competitive markets. “We’d been looking for quite a while and put in offers that were never accepted,” reflect recent homeowners, Breanna and Nikhil. “Finally, when we put in an offer with the CashUp program, our offer was accepted. We’re super excited to have our home.” CashUp provided them with an opportunity to stand out from other offers and purchase their home.

How CashUp by Evergreen works:

With CashUp, homebuyers are preapproved with a fully underwritten credit package. This gives them the ability to make a cash offer without the need for a financing contingency. After the offer is accepted, Evergreen will purchase the home on the homebuyer’s behalf using its cash. Once permanent financing is established, Evergreen will transfer the home to the buyer.

In addition to this innovative financing process, Evergreen is a local and direct lender. Unlike other cash offer programs, they doesn’t outsource the financing. This means homebuyers get direct service and fast answers from a local loan officer who knows their market.

Why CashUp by Evergreen works:

Cash offers provide a streamlined, effective approach to home buying. They get the seller’s attention because they bring simplicity and speed to the process. CashUp by Evergreen raises the value of an offer to the same as other cash offers—or even higher. CashUp offers are so strong and attractive that sellers may value and accept them over other cash offers or offers that go above the asking price.

Another reason CashUp offers are effective is that Evergreen does the heavy lifting up-front to put homebuyers in the strongest possible position to buy. Homebuyers and real estate agents can make an offer with less worry about the competition. Recent homeowners Raymond and Alyssa experienced this first hand. “The CashUp offer made us more competitive against other bidders for the same home,” shares the couple. “The best part was definitely the quick closing time. We were able to close in about ten days.”

Homeowners like Breanna and Nikhil, and Raymond and Alyssa, used the strength of CashUp by Evergreen to purchase a home they love. Homebuyers who find themselves faced with multiple offers and bidding wars may benefit from this innovative home financing solution. In a competitive market, CashUp could help transform homebuyers into homeowners.

*Program effective 1/13/2022, and is subject to change. Terms, restrictions and fees apply. For purchase loans only. Financing based on conforming loan limits. Not all applicants will qualify. Program only valid in select locations. Ask for details.

Paint the walls – color can have a big impact on mood and is a great way to update an area of your home with low out-of-pocket cost. Add life to a playroom with a bright accent wall, create a cohesive workspace with a neutral color in a home office, and design a relaxing retreat by picking a calming color for your bedroom.

Makeover your cabinets – paint doesn’t have to stay on the walls! Adding some color to cabinets is another way to transform a room for a low-cost, durable update. Consider adding a seal to cabinets in frequently used rooms like kitchens and bathrooms.

Update your hardware – upgrading your drawer pulls, doorknobs, and doorstops could give a fresh new look to a space. While this update may seem subtle, it can have a big wow factor by adding modern lines and a cohesive look throughout your home.

Upgrade your lighting – the right light can do a lot for a space. Lamps can brighten rooms that may otherwise feel a bit too dark. Dimmer switches can be a great addition to dining rooms and bedrooms because they allow you to control the amount of light based on the time of day. Even something as simple as switching out your lightbulbs to an energy efficient option with a more natural-looking light can make a big difference in how a room feels.

Hang art – whether it’s a classic print, an original piece, or a treasured family photograph, art makes a space feel like a more authentic representation of you. Filling your walls with images that reflect who you are and what you love does a lot to make a house feel more like a home.

Swap out your throw pillows – or at least the covers! Changing couch throw pillows or swapping out your pillow covers is an easy way to update a living or family room. Consider changing your pillows by season, or use it as an opportunity to try out a new decorating style without much effort and cost.

Plant some flowers – don’t overlook the outside of your home! Planting flowers and other greenery is a great way to up your home’s curb appeal. Hanging flower baskets or adding a seasonal planter at the front door provides a pop of color without too much maintenance.

Your house is your haven and should be a place that you love to spend time. If your space feels like it could use an update, consider these simple, low-cost changes to fall in love with your home all over again. If your house needs more substantial renovations or you’re considering a move to a new home, we’d be happy to discuss your financing options with you. Reach out to one of our helpful loan officers today to get started.

Spring is here, and soon the color green will be everywhere. And if that gives you a little inspiration to “go green” around your home and yard, you’re in luck.  Below we share tips to help you do just that.

“Going green” has proven itself more than a passing trend, with people increasingly embracing an enviro-friendly approach to life. The movement definitely extends to homes and yards, whether you’re updating an existing abode or looking for a new one. So if you’re an eco-conscious homeowner (or home shopper), read on for steps you can take to green your home — and help create a healthier planet.

1. Choose recycled. Recycling isn’t just for the junk mail. If you’re remodeling or building a home, you can incorporate recycled materials such as shingles, steel framing, concrete (or concrete alternatives made from recycled waste materials) and flooring — like carpeting made from recycled plastic bottles, or options made from recycled wood, glass, ceramics, stone or rubber.
2. Opt for alternatives. Think about bamboo — a rapidly renewable wood — for floors and cabinets. Or insulation made from natural, renewable materials such as hemp, wool or soybean foam. How about concrete alternatives made from foam, glass, paper, or compressed earth?
3. Source locally. When you buy building or remodeling materials produced nearby, you reduce transportation requirements, which means fewer emissions and, as a bonus, you support your community!
4. Rethink your roof. “Cool roofs” reflect sunlight and absorb less heat, keeping your home cooler with less energy. “Green roofs” use a layer of living plants to add natural insulation, reduce storm water runoff and even help clean the air by reducing pollution and greenhouse gas emissions.
5. Save energy. Today, you have so many ways to reduce energy usage (and those monthly utility bills), there’s no excuse not to do something. Start small and work your way up if you need to: turn down the heat a few degrees, turn off lights and power strips, choose CFL or LED light bulbs, install a smart thermostat, add appropriate levels of insulation, and install energy-efficient appliances and windows.
6. Reduce water use. Capture “slightly used” water — what you’d normally lose down the drain of your kitchen sink or shower. Then use it on your lawn or garden. Scale back your water needs even more (and possibly reduce your water bill) with low-flow faucets and showerheads, drip irrigation and xeriscaping for your yard, and water-efficient dishwashers and washing machines.

If you’re thinking of buying a fixer-upper, renovating your existing home or simply adding a touch of green to your current space, feel free to reach out to one of our home loan experts for even more ideas.

Here are some reasons why. 

Interest rates are still low. Historically interest rates are still very low. Ask your parents what interest rate they had and I could almost guess it was in the double digits.  My first home was above 7% and hence I choose an ARM (adjustable rate mortgage) that outperformed any fixed rate for nearly a decade. It’s all about working with the right lender to be strategic in this market.  

Though they are rising. If you decide to wait, undoubtedly your rate will be higher.  The Federal Reserve Board is anticipating six more rate hikes from now until the end of 2022. I am seeing buyers opting out thus more opportunity for those that are staying in this market.  Also, I am seeing buyers now finding their dream homes without escalating crazy high.  Getting a home now vs end of the year may ultimately keep your mortgage payment lower -even a one percent difference can cost you hundreds of dollars more a month.

That being said, even if you have a high interest rate, you don't have to be locked into this rate for the full thirty-years. Building an advisory relationship with the right lender will advise you when rates drop and it makes sense to refinance.  Some of you may decide to take cash-out to do improvements to your home or buy another property in the future. 

Not only that, but you can use the extra cash to buy a new car, or even help you pay off some debt*. If you have children to send to college, you may use some of this money to help them get a head start in life. Again, having the right advisor will weigh the pros and cons.

So, what does this mean for you? 

If you are trying to decide whether you should buy a home right now or not, here are some things to consider. 

Most people don't buy a home for the rest of their lives. Though it used to be normal to buy a home and stay in it until you no longer can't, this is not the normal anymore. In fact, nationally most people as of 2022 are living in their homes between 10-13 yrs. However, this is market based and for the Pacific Northwest, the average has been closer to 8 yrs.  Most folks are selling, taking the equity to move up or they are taking cash-out of their primary to purchase more properties in order to build wealth.

If the mortgage feels high, keep in mind you might be able to still afford it.  The lender ensures you qualify for this payment.  In this market, stretching could be a great wealth builder. 

You should always think about the value of a home. You may have equity in your home sooner than expected. In some instances, you may get the home for less than it is worth, so you already have equity. If home values continue to rise, you may also get equity in your home in the next few months! As you pay off your mortgage, your equity will continue to rise. 

What can you do if you are ready to get started? 

If you are serious about buying a home in this market, it is vital to get pre-approved and determine what you qualify for and what your best path is before you get out there looking with a real estate agent. This is a very emotional purchase so be in contact with us today to see how we can help you on your path to home ownership! 

The information provided is my opinion and not necessarily the views of Evergreen Home Loans

At Evergreen Home Loans™ we’re excited to offer a solution to rising interest rates. Our Lock and Shop program allows homebuyers to lock in their interest rate while they shop for their next home. This financing option could provide stability, particularly when interest rates fluctuate. Here are three of the benefits of this program:

Shop without watching rates. If you’re currently shopping for a home, or if you’re starting to explore your homebuying options, you’ve likely heard how competitive the housing market is in many areas across the country. With low inventory and an increase in competition, it’s not unusual for it to take a bit longer than you may expect to find your dream home and have your offer accepted. Locking in your interest rate with the Evergreen Lock and Shop program allows you to focus on your home search, instead of watching where interest rates are headed.

Extend your buying power. As interest rate increase, the amount of home you can afford to purchase decreases. This is because as interest rate rise, a higher portion of your monthly mortgage payment will be devoted to paying the interest you owe on the loan. You’ll qualify for a lower loan amount to ensure that after your interest payment, you can afford the principal payment due each month. Lock and Shop can offer some protection against this. The program offers 60, 75, and 90-day lock terms. This means your buying power is locked in while you shop for a home. In addition, extensions are allowed if you need extra time to find a property you love.

Float down to a lower rate. If you’re worried that by locking in your interest rate you’ll miss the opportunity if rates decrease, don’t be! If interest rates go down during your lock period, you can take advantage of the lower rate with a float down option². This allows you to lock in the lower rate and continue shopping for your home knowing you’re in a great position with your home financing.

Evergreen’s Lock and Shop program is designed to help you focus on your home search without the worry of unexpected changes to your interest rate. We believe that our job is to help put our customers in the very best position possible to buy a home they love. This program is just one of the financing solutions we offer to help you do just that. If you’re interested in learning more about our Lock and Shop program, or the other ways we can help you home, contact one of our knowledgeable Loan Officers today!

1. https://www.federalreserve.gov/newsevents/pressreleases/monetary20220504a1.htm#:~:text=Decisions%20Regarding%20Monetary%20Policy%20Implementation&text=The%20Board%20of%20Governors%20of,%2C%20effective%20May%205%2C%202022.
2. Restrictions and limitations apply; please ask for details

©2022 Evergreen Home Loans and Evergreen are the trademarks or registered trademarks of Evergreen Moneysource Mortgage Company® NMLS ID 3182. Trade/service marks are the property of Evergreen Home Loans. All rights reserved. Licensed under: AZ Mortgage Banker 0910074; CA Licensed by Department of Financial Protection and Innovation under the CA Residential Mortgage Lending Act 4130291; CO Mortgage Company Registration; ID Mortgage Broker/Lender MBL-3134; MT Mortgage Lender License 3182, NV Mortgage Company License 4837; Licensed under the OR Consumer Finance Act ML-3213; TX Department of Savings and Mortgage Lending Company License; WA Consumer Loan Company CL-3182; WY Mortgage Lender/Broker 3467.

1. Get Preapproved. A preapproval* is an important first step in your home buying journey. This shows you exactly how much home you can afford to purchase so you can focus on homes that fall within your budget. Not only is a preapproval a helpful tool for your home shopping process but it also shows sellers that you have your financing in order and that your offer is solid.
   
   
2. Shop with the Security Plus Program. Evergreen Home Loans™ provides homebuyers with a way to make their preapproval offer even more impactful with our Security Plus Program. We do all the work up-front to provide a guaranteed financing commitment without a lot of conditions. Because we’re so confident in our program, we guarantee the loan commitment or we pay the seller $5,000**. This helps strengthen your offer and makes it easier for the seller to say yes.
   
   
3. Turn your offer into an all-cash offer with CashUp™ by Evergreen***. If you’re looking for ways to make your offer as strong as possible, it’s hard to beat CashUp by Evergreen. Sellers love cash offers for the simplicity and speed they bring to the process. This program preapproves you as a cash buyer. When you find a home you love, you make an offer with no financing or appraisal contingencies. If the offer is accepted, Evergreen buys the home on your behalf. We do the heavy lifting up front to put you in the strongest possible position to buy so when you find a home you love you’re ready to make a compelling, all-cash offer that stands out from the rest.

If you’re ready to make your offer stand out to sellers, our knowledgeable Loan Officers are ready to help. Reach out to one of our Loan Officer’s today so we can help you make your strongest offer on a home you love.

Disclosures:

*Preapproval is not a commitment to lend and is subject to satisfactory loan conditions including a completed application and property appraisal. Other terms and restrictions apply. Not all products available.

**Applies to purchase loans only. To qualify, buyer's Security Plus Approval/Seller Guarantee Addendum must have been issued by Evergreen and the seller shall have executed the addendum with their signature. Certain loan types do not qualify for this offer. Restrictions apply.

Mortgage backed securities giant, Freddie Mac has collected and published data on average weekly mortgage interest rates since the early 1970s. With nearly 50 years of data, this snapshot of the rise and fall of mortgage interest rates provides a powerful snapshot of how rates have fluctuated. The biggest take away when you look at rates over the last nearly half-century? Rates are still historically low.

A look to the past

Over the course of the last 49 years, the average interest rate has typically hovered above 5%. Freddie Mac recorded the highest interest rate at 16.63 in 1981. Since then, interest rates have been on a downward slope, with periodic spikes. It wasn’t until the burst of the housing bubble in the mid-2000s, and the subsequent recession, that we saw interest rates fall below 5%. Since then, we have seen interest rates hover at unprecedented lows. As the economy recovered, the Federal Reserve slowly began inching interest rates higher. By 2019, interest rates were ticking closer to the 5% range. However, with the onset of the pandemic, interest rates dramatically dropped again, leading to the extremely low interest rates we experienced through 2020 and 2021.

Where we are now

Over the past few months, we have all felt the impacts of inflation. Prices have increased and whether it’s the total of our weekly groceries to a tank of gas, many goods and services cost more, including the cost to borrow money. However, it is important to keep in mind, that while it may be more expensive to finance a mortgage than it was a year ago, rates are still very low when compared to the historic average. Homebuyers may still have the opportunity to purchase a home at an affordable rate and start building equity.

Mortgage solutions for a rising rate environment

In a rising interest rate environment, many homebuyers may look for financing solutions designed to help increase their buying power and ensure they secure the lowest rate available to them. At Evergreen Home Loans™ we offer a range of products that are well suited to meet this goal. We’ll work with you to understand your home financing needs and provide you with mortgage solutions that are tailored to you. With a selection of adjustable-rate mortgages and a suite of innovative products, we are well equipped to help you leverage your buying power and help you secure an affordable interest rate. If you’d like to see what loan options are available to you, reach out to one of our knowledgeable loan officers today to learn more.

StepUp by Evergreen is an innovative product that allows homeowners to purchase their next home before selling, or even listing, their current home. Not only that, it elevates the strength of your offer with a quick close—you could have the keys to your new home in as little as 15 business days.

Here’s how it works:

• Step 1: Secure a bridge loan. (You can skip this step if you have a sufficient down payment.)
• Step 2: Purchase a home and close quickly using the StepUp portfolio loan program.
• Step 3: Refinance into your permanent loan program.

This financing option is designed to ease the process of selling a home to buy a new one. By focusing on one transaction at a time, you may find that the process of moving is a bit less stressful. The expedited close allows you to move through the process quickly so you can settle into your new home sooner.

StepUp is just part of the innovative suite of products that Evergreen offers homebuyers and sellers. Whether you need to expedite selling your current home or secure a financing option that could make your next home more affordable (or both), our solutions are designed to help you home.

If you have questions about our innovative product lineup or would like to see if StepUp could help you move into your next home sooner, reach out to one of our knowledgeable loan officers today.  

One solution to consider as interest rates fluctuate is Lock-n-List* from Evergreen Home Loans™. This innovative program provides could help homeowners sell their home faster while also allowing homebuyers to purchase a home at a competitive interest rate.

Here’s how it works:

• Once a homeowner lists their home for sale, Evergreen will lock a rate that’s attached to the property.
• The future buyer has the opportunity to purchase the home with a loan from Evergreen at the locked rate that’s available for it.
• The seller can choose to work with Evergreen to obtain financing for their next home.

By locking in the rate with Lock-n-List, sellers can make their listing stand out to buyers who may be looking to increase their buying power in a rising rate environment. And taking advantage of a financing solution like this could help their home sell faster.

For homebuyers, Lock-n-List also provides the peace of mind that comes with knowing that the rate will not change, even if rates fluctuate. Plus, in addition to potentially increasing their buying power, it could help reduce their monthly mortgage payment.

In a changing housing market, many people are looking for innovative home financing solutions. With programs like Lock-n-List, Evergreen Home Loans is focused on finding ways to meet the needs of buyers and sellers in every housing market. If you have any questions, reach out to one of our knowledgeable loan officers today.

DISCLOSURES:

*Program effective 09/20/2022 and is subject to change. Terms, restrictions, and fees apply. For purchase loans only. Financing is based on conforming loan limits. Not all applicants will qualify. Program only valid in select locations. Ask for details. 3. Restrictions and limitations apply. Please ask for details. Information is valid as of 09/20/2022

Buydown basics

What exactly is a buydown? It’s when points—commonly referred to as discount points, mortgage points, or prepaid interest—are used to buy down a loan’s interest rate as a one-time upfront fee. The value of one point equals one percent of the principal (original loan amount), meaning that one point on a $100,000 loan would equal $1,000. While that’s a consistent value across lenders, the amount that one point will reduce a loan’s interest rate can vary between lenders and is dependent on additional factors such as the loan type and current rates. It’s also important to note that there might be buydown maximums.

Then, there are different ways for the cost of a buydown to be paid, including borrower-paid and seller-paid. Just as they sound, borrowers cover the cost with a borrower-paid buydown, and sellers cover the cost with a seller-paid buydown.

The party responsible for payment isn’t the only thing that can differ—different buydown types are available. They can be permanent or temporary and apply to fixed-rate and adjustable-rate mortgages. With a permanent buydown, the interest rate gets bought down for the full loan term. In comparison, the interest rate gets bought down for specific years of the loan term with a temporary buydown. A 2-1 buydown is a common temporary program.

Securing a mortgage with a 2-1 buydown allows for the interest rate to be reduced during the first two years of the loan term before rising to the permanent rate, also known as the note rate, in year three. The interest rate is often reduced by 2% in the first year, followed by 1% in the second year.

2-1 buydown example

Here’s a 2-1 buydown example for a 30-year fixed-rate loan term where the points cost $9,240.15:

Potential benefits of a 2-1 seller-paid buydown

Now that we’ve covered some buydown basics and reviewed an example, let’s take a closer look at how a 2-1 seller-paid buydown could be beneficial in a real estate transaction today.

For buyers, a 2-1 seller-paid buydown helps them ease into homeownership. Initial monthly payments are below their permanent monthly payment, making the mortgage more affordable upfront. And as a result, they pay less interest over the life of the loan, compared to a loan without a buydown that has the same note interest rate and principal. A 2-1 seller-paid buydown is generally a safe way buyers can take advantage of temporarily securing a lower interest rate and monthly payment in a rising rate environment.

Sellers could benefit from a 2-1 buydown, too. Offering one on their home listing might make it more attractive to buyers and help it stand out against other listings, especially when interest rate hikes are a reality. Or, if a buyer requests for a seller to offer one and the seller accommodates the request, the buyer could be more likely to purchase the home. Many homes are sitting on the market for an extended period of time, and a 2-1 seller-paid buydown may be a great home-selling strategy.

Overall, a 2-1 seller-paid buydown could be a win-win for both homebuyers and home sellers. If you’re interested in learning more about taking advantage of this powerful tool, connect with an Evergreen loan officer today. We also offer 1-0 and 3-2-1 buydowns. One of our home loan experts can help explain the ins-and-outs so that you’re well-informed and set up for success on your homeownership journey.

Rates are as of 10/19/2022 and subject to change without notice, certain conditions apply. Not all customers will qualify for the terms noted. 1. Monthly payment is principal and interest (P&I) only, based on purchase price of $490,000 with a loan amount of $392,000, 7.25% fixed rate, 30-year term, APR 7.551%, and 20% down payment. 2. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply. The payment scenario is for example purposes only. Ask for current rates. Not all products available. Program is subject to change.

In Washington, nearly 1 in 10 residents struggle with hunger and 1 in 6 youth in the state live in a household that faces challenges putting food on the table. That’s why, for the third year in a row, we were proud to be the title sponsor and underwriter of “Rock the Harvest” in support of Northwest Harvest.

The “Rock the Harvest” radiothon and online auction is one of Northwest Harvest’s main annual events. Hosted on Seattle-based rock station KZOK, all proceeds from this 12-hour event benefit Northwest Harvest and its mission to provide access to nutritious food to those across Washington who experience hardships and hunger disparities.

The 25^th annual KZOK “Rock the Harvest” radiothon took place on Tuesday, October 25, beginning at 7 a.m. and ending at 7 p.m. And Evergreen associates were on-site in support of the event!

We’re thrilled to report that this year’s “Rock the Harvest” raised a record-setting total of $139,216 from 442 donors. Thank you to everyone that generously showed support for such a wonderful cause. Every donation, no matter the size, allows Northwest Harvest to keep its mission alive and provide food for those who need it most.

You can learn more about Northwest Harvest or donate today at https://www.northwestharvest.org/.

10 reasons now is a good time to buy a home

To start, we’ve compiled this list of 10 stand-out reasons for you to take action toward your homeownership goals today.

10. Sellers and builders may be motivated and offering big incentives.

9. Seller credits can be used to pay for closing costs or buy down the interest rate.

8. There’s no reason to waive a home inspection.

7. Fewer buyers could mean less competition.

6. Making an offer above the listing price may no longer be necessary.

5. There’s no reason to waive a financing or appraisal contingency.

4. Paying your own mortgage can lead to home equity for you. Paying rent can build a landlord’s home equity.

3. Rent prices could continue to rise year after year.

2. Homeownership has always been a great way to increase wealth.¹   

1. Homeownership changes lives!

Buyer Booster program

If the above reasons weren’t enough, we’ve introduced a new and exclusive program to our lineup of offerings: Buyer Booster. This program allows homebuyers to buy now and boost their refinancing power with a credit of $2,500 toward a refinance through Evergreen Home Loans™ before March 31, 2026. Eligible property types include primary residences, second homes, and investment properties.

How it works:

1. Get a home loan through Evergreen Home Loans™ between December 1, 2022, through June 30, 2023, and you’ll receive a certificate for a $2,500 credit for a future refinance with us.
2. Use the Evergreen Home Loans refinance credit before March 31, 2026.
   
   

As you’ve seen over the years, interest rates can fluctuate. If they end up dropping before the credit expiration date, we want to help homebuyers take advantage of a more favorable rate with an added boost.

Even better, this program could be combined with other innovative products that are exclusive to Evergreen, including Lock and Shop, Lock-n-List³, CashUp^®3, and StepUp.

Getting started

As you begin your home buying process, and if you want to take advantage of our Buyer Booster program, it’s a good idea to connect with an Evergreen loan officer. They’ll help determine if you can get pre-approved so that you know what you may qualify for and what price range you can afford—this could save you time and money. Then, it’s beneficial to identify how much down payment and monthly payment works for your individual situation. And you’ll want to be sure to factor in additional moving costs and incidental spending when you’re considering your financing options.

Our team of experts is here to help you explore different home financing options and find a solution that meets your individual needs and allows you to realize your homeownership dreams in any housing market. You can find a local loan officer here.

1. Source: National Association of Realtors (NAR) https://www.keepingcurrentmatters.com/2022/03/28/a-key-to-building-wealth-is-homeownership/

2. Offer valid on purchase and refinance loans closed between 12/1/2022 and 6/30/2023. The qualified borrower(s) will receive one $2,500 lender credit certificate redeemable towards a refinance on the same property. Offer is non-transferrable and may not be applied to other transactions. The refinance application date must be on or before 3/31/2026. This is not a commitment to lend. Program is subject to change without notice. Not all applicants will qualify. Not all products available. Additional terms, conditions and restrictions may apply. Call for details.

3. Program effective 12/12/2022 and is subject to change. Terms, restrictions and fees apply. For purchase loans only. Financing based on conforming loan limits. Not all applicants will qualify. Program only valid in select locations. Ask for details.

Some benefits of homeownership

Homeownership can offer many benefits, including the following:

Control. Owning a home can offer the creative freedom to truly make it your home which renting doesn’t allow. Whether that’s installing the marble countertops you’ve been daydreaming about, replacing outdated fixtures, designing a luxurious spa bathroom, or (insert your idea here). Plus, home improvement projects could boost your property’s value.

Financial investment. The decision to buy a home isn’t small. However, it’s a long-term investment that can come with the possibility of big financial opportunities, including building home equity to tap into in the future, increasing wealth through equity, and financial stability with a fixed monthly payment.¹

Community. Homeownership may provide an increased sense of community. It can create stability for various reasons, such as not worrying about changing rental agreements and homeowners generally live in the same home for a longer duration. As a result, there could be greater engagement and support among neighbors and other community members.

Questions to ask yourself before buying a home

Before buying a home, educating yourself so that you make an informed decision is very important. To help you feel more equipped with knowledge, here are some questions to consider.

What’s my financial situation like? Spend some time reviewing your finances to understand where they’re at. What’s your debt? Do you have any savings? Are there any upcoming big expenses that you’re aware of? Knowing your financial situation will help you gain clarity about what you can take on with a home purchase, set a realistic budget for yourself, and go into an appointment with a loan officer feeling prepared.

What am I ready to take on with homeownership? Becoming a homeowner after renting can come with added responsibilities and costs. They may include keeping up with regular home maintenance, planned updates or unexpected repairs, additional insurance (e.g., homeowner’s insurance, private mortgage insurance), HOA dues, and utilities. Being aware of what you may need to take on with homeownership and what you’re ready to take on is helpful to feel more prepared. You can factor anticipated costs into your home buying budget.

What are my home financing options? There isn’t a one size fits all approach to financing a home. That’s why a variety of home loan programs exist. From fixed- to adjustable-rate terms, low to no downpayment options, conforming to non-conforming products, special incentives for first-time buyers, and more. You may qualify for multiple loan types, and it’s important to make sure you understand each one. An experienced loan officer can help you identify an option that’s suited for your unique situation and needs.

An overview of the home buying process

Find a trusted home loan lender and loan officer. They’ll work with you to identify your homeownership goals and help you find the right loan solution to achieve them. 

Get preapproved² for a home loan. This will let you know how much home you can afford, so you can shop with more confidence.

Something to keep in mind is that preapproval is different from prequalification. It’s often a firmer assessment of how much loan you could secure. And not all preapprovals are alike. Lenders or brokers may follow different criteria or have different programs.

At Evergreen, our preapproval options include our exclusive Security Plus program³ which could give your offer a powerful advantage. We preapprove qualified buyers with a fully underwritten loan amount that’s guaranteed, or we pay the seller $5,000 because we're so confident in this program. It’s stronger than the average preapproval, making it easier for the seller to say yes.

Before you visit with a loan officer to get preapproved, it’s a good idea to have the following items ready:

• Your most recent pay stub
• W-2 statements for the last two years
• Bank statements for the last two months (all pages)
• Year-to-date profit/loss and balance sheets (if you’re self-employed or work commission sales), as well as tax returns for the last two years

Work with a qualified real estate agent. The right agent will search listings with your priorities and goals in mind, from a fenced backyard to a walk-in closet. If you don’t already have an agent, we can help you find one.

Become a homeowner. This is the end goal that you’ll work with your real estate agent and loan officer to achieve. Their role is to be there for you throughout your home buying and financing process.

We’re here to help

Are you ready to stop renting and take the first steps toward becoming a homeowner? Our team of home loan experts at Evergreen is here to help. Get in touch with one of our loan officers who will spend time listening to your individual needs, walk you through your financing options, and find a solution that’s right for you!

1. Source: https://www.keepingcurrentmatters.com/2022/03/28/a-key-to-building-wealth-is-homeownership/. 2. Preapproval is not a commitment to lend and is subject to satisfactory loan conditions including a completed application and property appraisal. Other terms and restrictions apply. Not all products available. 3. Applies to purchase loans only. To qualify, buyer's Security Plus Approval/Seller Guarantee Addendum must have been issued by Evergreen and the Seller shall have executed the addendum with their signature. Certain loan types do not qualify for this offer. Restrictions apply.

Unveiling The Buyer Program Booster

The Buyer Booster Program is designed to give you an extra edge during your homeownership journey. By securing a home loan with Evergreen between July 1 through September 29, 2023, you become eligible for a $2,500 credit toward a future refinance with us. This credit can be an asset as you strive to achieve your financial aspirations.

Refinancing: The key to unlocking financial opportunities

A future home loan refinance may present a multitude of benefits that significantly impact your financial journey. Let's explore how it could open doors to a brighter financial future:

1. Seize lower interest rates for enhanced savings: Refinancing may provide you with the opportunity to capitalize on lower interest rates. With fluctuating market conditions, taking advantage of a more favorable rate might reduce your monthly loan payment, leading to substantial savings and providing you with more financial freedom.

2. Accelerate your debt-free journey: If your ultimate goal is to pay off your mortgage sooner, refinancing allows you to adjust your loan term. Transitioning from a 30-year to a 15-year term, for example, can expedite your path to debt-free living. Enabling you to build equity faster and achieve financial security earlier.
   
   
3. Leverage your home equity: Refinancing through Evergreen's Buyer Booster program not only grants you the $2,500 mortgage lender credit, but it also opens the door to tap into your home equity. Whether you're planning home improvements, consolidating debt, or investing in other ventures, this can provide the necessary funds to support your financial ambitions.

Making an informed decision

Before embarking on your homeownership journey with The Buyer Booster Program, consider the following factors:

1. Harnessing the power of lender credits: The credit you can receive serves as an invaluable asset towards a future refinance with Evergreen; providing potential opportunities to further enhance your financial position.
   
   
2. Timing is everything: With the credit being applicable at a later date, strategize and plan accordingly to leverage it optimally when the time is right for you and your financial objectives.
   
   
3. Aligning with your long-term financial goals: Evaluate your long-term financial goals and aspirations. Whether they include eliminating debt, saving for retirement, or maximizing the value of your home, buying a home now with The Buyer Booster Program can be a strategic step towards achieving these milestones.

Our Buyer Booster Program empowers you to supercharge your homeownership journey and boost your financial future. By securing a home loan with Evergreen before the Buyer Booster Program expires, you not only gain access to a $2,500 mortgage lender credit, but you could position yourself to make the most of a future refinance and keep your financial dreams within reach. Embrace this exceptional opportunity and let us guide you towards a brighter future.

* Offer valid on purchase loans under contract and refinance loans closed between 7/1/2023 and 9/29/2023. Qualified borrower(s) will receive one $2,500 lender credit certificate redeemable towards a refinance on the same property. Offer is non-transferrable, may not be applied to other transactions, and may not be combined with a pricing concession. The refinance application date must be on or before 3/31/2025. The borrower must have made at least six (6) consecutive on-time payments on the purchase loan before closing the refinance. This is not a commitment to lend. Program is subject to change without notice. Not all applicants will qualify. Not all products available. Additional terms, conditions, and restrictions may apply. Call for details.

Hesitation #1: Higher mortgage rates

Today's 30-year fixed mortgage rates are sitting closer to 7%, a giant leap from the sub-4% bliss that current homeowners enjoy. This change has given birth to the 'mortgage rate lock-in effect,' prompting many homeowners to stay put.

Quick Tip: Although we're all secretly wishing for a crystal ball, mortgage rates are as unpredictable as a twist in a good novel. It might be tempting to wait for a decrease, but remember, home prices are still on an uphill journey. Move now and avoid future price hikes. If rates do fall, a refinance could be an ace up your sleeve. Ask your trusted Evergreen partner about the Buyer Booster $2,500 refinance!

Hesitation #2: Anxiety over limited home choices

Thanks to the above hesitation, fewer homes are gracing the market, making the house hunt a little challenging.

Quick Tip: Flexibility is your secret weapon here. Exploring a variety of housing types (think condos, townhouses, and new builds) can broaden your search. And if you have the luxury of remote work, why not extend your search beyond your usual boundaries? You might discover a gem you hadn't considered before.

Fear-busting move

Instead of being haunted by worries, focus on what's within your control. Teaming up with a real estate professional, well-versed in navigating the market, can equip you with insights and strategies to make confident decisions. So take a deep breath, and remember, you've got this. Contact your Evergreen Loan officer to learn about our CashUp Suite of Products!

Source: Keeping Current Matters

©2023 Evergreen Moneysource Mortgage Company® NMLS ID 3182. Equal Housing Lender. Trade/service marks are the property of Evergreen Home Loans. All rights reserved. Please see www.evergreenhomeloans.com/licensing for licensing information.

Navigating the financial world can often seem like navigating a maze, particularly when it comes to understanding the Federal Reserve's (the Fed) decisions and how they might influence your plans to buy a home. Let's break it down into simpler terms to help you understand this important link.

The Fed's focus on inflation

At present, the Fed's primary objective is to tame inflation. While we've seen a year-long trend where inflation has been slowing down, recent statistics reveal that it remains stubbornly above the Fed's target of 2%. You might have been hopeful that the Fed's progress would lead to a pause in their rate hikes. However, they are cautious not to act too soon, as this could risk causing a surge in inflation once more. This very caution prompted them to raise the Federal Funds Rate again recently.

Jerome Powell, the Fed's Chairman, made the institution's stance clear when he stated, "We remain firmly dedicated to reducing inflation back to our target of 2 percent and maintaining longer-term inflation expectations that are well anchored."

High inflation, robust economy, and the Fed's response

Greg McBride, the Senior VP and Chief Financial Analyst at Bankrate, shed some light on how persistent high inflation and a thriving economy influenced the Fed's latest decision. He explained, "Inflation continues to be unyieldingly high. The economy is showing impressive resilience and the labor market remains strong, but these elements may be contributing to the persistent inflation. Consequently, the Fed has no choice but to slow things down a bit more."

The indirect impact on mortgage rates

Though the Federal Fund Rate set by the Fed doesn't directly command the movement of mortgage rates, it certainly wields influence over them. This relationship was further clarified in a recent article from Fortune, which stated, "The federal funds rate is the interest rate that banks apply when they lend money to each other... When inflation is high, the Fed raises rates to increase the cost of borrowing and slow the economy. Conversely, when it's too low, they lower rates to stimulate economic activity."

What it means for your homebuying plans

In simpler terms, rising inflation usually means higher mortgage rates. However, if the Fed's efforts to tame inflation are successful, we might see a drop in these rates, making homeownership more within reach. But there's a silver lining - with Evergreen's Buyer Booster Program, you can get a $2,500 lender credit for refinancing if you purchase now! On the future trajectory of mortgage rates, McBride commented, "As inflationary pressures diminish, we can anticipate more steady reductions in mortgage rates throughout the year, especially if there's a slowdown in the economy and labor market."

Key takeaway

In a nutshell, the path of mortgage rates is intricately connected to the course of inflation. A slowdown in inflation could likely usher in a decrease in mortgage rates. To gain a deeper understanding of how these market changes could specifically impact your homebuying plans, it would be advisable to connect with a financial expert for personalized advice.

To learn more about Evergreen’s Buyer Booster Program and how you can get $2,500 towards your refinance visit: Buyer Booster Program

Get in touch with a trusted Evergreen Loan Officer to start your homebuying journey today!

Sources: Keeping Current Matters

Offer valid on purchase loans under contract and refinance loans closed between 7/1/2023 and 9/29/2023. The qualified borrower(s) will receive one $2,500 lender credit certificate redeemable towards a refinance on the same property. Offer is non-transferrable, may not be applied to other transactions, and may not be combined with a pricing concession. The refinance application date must be on or before 3/31/2025. The borrower must have made at least six (6) consecutive on-time payments on the purchase loan before closing the refinance. This is not a commitment to lend. Program is subject to change without notice. Not all applicants will qualify. Not all products available. Additional terms, conditions, and restrictions may apply. Call for details.

©2023 Evergreen Moneysource Mortgage Company® NMLS ID 3182. Equal Housing Lender. Trade/service marks are the property of Evergreen Home Loans. All rights reserved. Please see www.evergreenhomeloans.com/licensing for licensing information.

Dreamt of owning a place but heard about the rising interest rates? Fear not! While rates may not be at their all-time lows, diving into the real estate market now could be your golden ticket to making that dream come true. As Gary Keller wisely noted, “The perfect time to buy the right piece of real estate is always now.” Let's delve deeper into the reasons, and get you excited because the best is yet to come!

Rock-solid stability

While historically low rates aren’t today’s reality, don't fret! This is actually a good sign. The housing market is finding its groove, and that means we're in for some rock-solid stability. You want a market that's stable and sustainable like a good dance rhythm, not a wild rollercoaster ride, right?

Ride the predictability train

Okay, so rates are climbing a bit, but that's just life doing its thing. Here's the silver lining: fixed-rate mortgages are your best friends! They give you predictability, which is like having a GPS for your financial journey. You'll know exactly what your mortgage payments will be, and that's some sweet peace of mind.

Building equity—cha-ching!

Who doesn't love the idea of growing your wealth while dancing through life? Buying a house now gives you the opportunity to build equity for years to come. As you make your monthly payments, you'll be shaking and shimmying your way to increased ownership in your dream home. Let the equity party begin!

Bargain time, baby!

Let's talk deals, savvy shoppers! Rising rates might mean a few potential buyers are sitting on the sidelines, but not you! This is your time to shine because motivated sellers are ready to dance into a deal. Negotiating a sweet price and dreamy terms is like getting the front-row seats to your favorite concert—pure excitement! Evergreen has the perfect showstopping programs in our CashUp Suite of Products to make your offer stand out above everyone else! Contact your trusted Evergreen Loan Officer to learn more!

Say no to rate surprises

Buying a house now with a fixed mortgage rate is like strapping on your seatbelt for the long ride ahead. You know why? Because you'll be avoiding any potential future rate surprises. Locking in a relatively low rate is like having the best umbrella when it starts to rain rate hikes. You'll stay dry, cozy, and on budget!

Real estate—the ultimate investment

Ready for some long-term investment fun? Real estate is the dance that keeps on giving! Historically, property values have shown their gains, and they're quite impressive. Owning a house is like investing in the hottest trend—it's not going out of style anytime soon!

Alright, future homeowners, the party is just getting started! Rising interest rates might seem like the rain on your parade, but don't let that stop you from stepping onto the dance floor of homeownership. With stable markets, predictability, the opportunity to build equity, and incredible bargaining opportunities, this is the perfect time to make your move. So, put on your dancing shoes, throw your hands up in the air, and let's unlock the door to your dream home! It's time to groove your way into homeownership bliss!

Let’s get you on your way to homeownership—contact your trusted Evergreen Loan Officer today!

©2023 Evergreen Moneysource Mortgage Company® NMLS ID 3182. Equal Housing Lender. Trade/service marks are the property of Evergreen Home Loans. All rights reserved. Please see www.evergreenhomeloans.com/licensing for licensing information.

1. The unpredictable nature of interest rates

Current interest rates might be somewhat higher than the record lows of recent years, making some potential buyers wary. But let's add some perspective: predicting future interest rates is a near-impossible task. Waiting for an 'ideal' rate can be akin to gambling. If you're concerned about current rates, it's worth noting that today's rates, in the grand sweep of mortgage history, remain significantly lower than many highs we've seen.

And here's where Evergreen Home Loans steps in with a compelling incentive. By choosing to buy now, you can benefit from our Buyer Booster Program*, available until September 29th, 2023. This exclusive program provides you with a $2,500 lender credit for a future refinance. While you're leveraging competitive interest rates today, you're also setting yourself up for potential savings in the future—a compelling reason to act now.

2. The value of building equity now

Every mortgage payment you make builds equity in a tangible asset. By delaying a home purchase, you're missing out on this wealth-building opportunity. This is especially crucial when considering the appreciation of home values in many regions.

3. The hidden costs of renting

Renting might seem cost-effective short-term, but over the years, it's a different story. Rent payments build your landlord's wealth, not yours. With rents often increasing, sometimes surpassing inflation rates, you might end up paying significantly more without any return on your investment.

4. The intangible benefits of homeownership

Beyond finances, homeownership offers immeasurable benefits. The security, freedom to personalize your space, and a sense of belonging in a community are just a few. Postponing a home purchase might mean missing out on these enriching experiences.

Final thoughts

Choosing to buy a home is significant, influenced by various factors. But when you consider the current market trends, the present interest rates, and the opportunity to build equity coupled with our exclusive Buyer Booster Program*, there's a compelling argument for becoming a homeowner sooner rather than later.

For tailored advice, contact your local Evergreen lender today! Let’s get you into your dream home.

*Offer valid on purchase loans under contract and refinance loans closed between 7/1/2023 and 9/29/2023. The qualified borrower(s) will receive one $2,500 lender credit certificate redeemable towards a refinance on the same property. Offer is non-transferrable, may not be applied to other transactions, and may not be combined with a pricing concession. The refinance application date must be on or before 3/31/2025. The borrower must have made at least six (6) consecutive on-time payments on the purchase loan before closing the refinance. This is not a commitment to lend. Program is subject to change without notice. Not all applicants will qualify. Not all products available. Additional terms, conditions, and restrictions may apply. Call for details.

©2023 Evergreen Moneysource Mortgage Company® NMLS ID 3182. Equal Housing Lender. Trade/service marks are the property of Evergreen Home Loans. All rights reserved. Please see www.evergreenhomeloans.com/licensing for licensing information.

1. Is your employment situation steady?

First up on your checklist should be an assessment of your job stability. Purchasing a home is a major commitment, and signing a home loan is like promising to maintain a garden for years to come. Knowing you have a stable job and consistent income can help keep those financial jitters at bay. As NerdWallet explains:

“A mortgage is a big commitment . . . Wait until your employment is stable before thinking about buying a house.”

2. Have you crunched your affordability numbers?

Before you start scrolling through beautiful homes on property websites, ensure you've worked out your affordability figures. Have a chat with a trusted lender who can walk you through the financial maze. They can guide you through the pre-approval process, explain how much you can borrow, give you an idea about current mortgage rates and estimated monthly payments, inform you about expected closing costs, and much more. A great tool to utilize are the mortgage calculators  provided by Evergreen.

The good news? You might discover that the finish line is closer than you think! You don’t necessarily need a huge 20% down payment, unless your lender or loan type specifies. As Down Payment Resource points out:

“A 20% down payment on a home is great, but . . . Many mortgages require no more than 3% to 5% of the purchase price as a down payment. Plus, there are loans and grants that may help cover these costs. Search for down payment assistance in your area, and discuss your results with your mortgage lender . . .” Still need help crunching the numbers? Contact your Evergreen partner.

3. Are you planning a long stay?

Don't forget to factor in your expected duration of stay when making the home buying decision. Building equity in your home through loan repayment and home price appreciation takes time. If you're itching for a change of scenery in a year or two, it might not make financial sense to buy right now. As a recent article from CNET explains:

“Buying a home is a good idea if you’re planning to stay put for at least three years. Home values typically increase between 2% and 5% annually, so you could end up paying more in closing costs than you’d earn in proceeds if you sell after only a year or two.”

So, pull out your crystal ball and ponder your future. If a job relocation or a shift closer to loved ones is on the horizon, that's something to factor into your decision.

4. Do you have a homebuying dream team?

Above all, ensure you've assembled your all-star team of real estate professionals. If not, your first step should be finding a local agent and lender at Evergreen who has your back.

Wrapping it up

If you're pondering whether you're ready to dive into the homebuying adventure, these questions can serve as your compass. But remember, the most reliable guide on this journey will be your trusted Evergreen partner.

Contact your Evergreen partner today!

Source: Keeping Current Matters

©2023 Evergreen Moneysource Mortgage Company® NMLS ID 3182. Equal Housing Lender. Trade/service marks are the property of Evergreen Home Loans. All rights reserved. Please see www.evergreenhomeloans.com/licensing for licensing information.

Trend #1: High demand vs. low supply

A defining characteristic of the current real estate climate is the disproportion between supply and demand. As per general economics, when the demand outweighs supply, prices tend to rise. This is precisely what's happening in the housing market today. Buyers are aplenty, but the number of available homes is not meeting this demand¹. Evergreen has taken it upon themselves to enhance the likelihood of winning those pesky bidding wars that you could encounter by offering our CashUp Suite of Products. Talk to your local Evergreen lender to get started today!

Trend #2: Skyrocketing home prices

Directly linked to the first trend, we're seeing home prices rise at unprecedented rates². While this may be fantastic news for sellers who are getting a solid return on their investment, buyers are finding themselves in a difficult position, often having to stretch their budgets.

Trend #3: The shift to suburban living

We've been noticing a significant trend of people moving away from city centers towards more suburban or rural locations. The ability to work remotely, a trend accelerated by the recent global pandemic, has made proximity to workplaces less critical³.

Trend #4: Rise of Real Estate tech

Technological advances in the real estate industry have transformed the process of buying and selling homes. From virtual home tours to online mortgage applications, technology is making the process more efficient and user-friendly⁴.

Wrapping up

Knowing these trends will help you make informed decisions, whether you're selling, buying, or just watching the market. Remember, knowledge is power, and in the real estate market, it's your biggest asset! Let us help you through your journey, call your Evergreen partner today!

Sources:

¹Based on various reports and articles indicating a significant housing supply shortage in the United States. For most recent data, please refer to the National Association of Realtors or similar bodies.

²As per multiple sources, including the Federal Housing Finance Agency (FHFA) and S&P/Case-Shiller U.S. National Home Price Index.

³Numerous studies and surveys have highlighted this trend, including those from Pew Research Center and Global Workplace Analytics.

⁴As reported by various tech and real estate outlets. For specific examples, refer to Zillow, Redfin, or other real estate technology platforms.

Program effective 9/13/2021, and is subject to change. Terms, restrictions and fees apply. For purchase loans only. Financing based on conforming loan limits. Not all applicants will qualify. Program only valid in select locations. Ask for details.

©2023 Evergreen Moneysource Mortgage Company® NMLS ID 3182. Equal Housing Lender. Trade/service marks are the property of Evergreen Home Loans. All rights reserved. Please see www.evergreenhomeloans.com/licensing for licensing information.

Here are some knockout strategies to put you ahead of the game when making an offer on a home.

1. The Real Estate secret weapon

Your first move? Buddy up with your local Evergreen lender and find a valuable real estate agent to work with. The combined expertise of dedicated lender and a savvy agent can be a game-changer in today’s market. Not only can your lender help you navigate the local and national real estate landscape, but they're also adept at spotting trends and understanding what sellers are seeking. A skilled real estate agent will further complement this by helping you find properties that fit your criteria and guiding you through the complexities of making an offer. Forbes echoes this sentiment, noting: "Getting to know a local (real estate professional) where you’re hoping to buy can also potentially give you a crucial edge in a tight housing market.

2. Home loan pre-approval: The power move

Next on your checklist should be getting a clear budget. In today's era of affordability challenges, it's critical to know what you can borrow. Achieve this by working with your Evergreen lender to get pre-approved with our Security Plus Seller Guarantee¹. With our program, we do all the work up-front to provide a guaranteed financing commitment without a lot of conditions. This step will make you more financially confident and show sellers that you're not just window shopping.

3. The perfect pitch: Making a fair offer

While it's tempting to go in with a low offer in hopes of scoring a bargain, this strategy could backfire. Realtor.com warns: “. . . an offer price that’s significantly lower than the listing price, is often rejected by sellers who feel insulted . . ." So, work with your agent to craft an offer that respects both your and the seller's needs.

4. The art of negotiation

Remember the 'unicorn' years, when buyers would often waive home inspections or forego concessions to win a bid? Those days are in the past, according to Bankrate: "It’s not as common for buyers to waive inspections anymore . . . Inspections alert you to existing or potential problems with the home, giving you not just an early heads up but also a useful negotiating tactic.” Today's market conditions may allow for more negotiation, and your agent will be instrumental in guiding you through this process.

The last lap

So, ready to dive into the housing market this summer? Make sure you've got an expert in your corner to help you come up with a winning offer. In this ongoing housing market game, every strategy counts! Contact us today to get you on your way to a winning offer!

Source: Keeping Current Matters

¹Applies to purchase loans only. To qualify, buyer's Security Plus Approval/Seller Guarantee Addendum must have been issued by Evergreen and the seller shall have executed the addendum with their signature. Certain loan types do not qualify for this offer. Restrictions apply.

©2023 Evergreen Moneysource Mortgage Company® NMLS ID 3182. Equal Housing Lender. Trade/service marks are the property of Evergreen Home Loans. All rights reserved. Please see www.evergreenhomeloans.com/licensing for licensing information.

If you're a Gen Z-er considering your own home, our CashUp Suite of Products can make your dream a reality. Read on to understand why and where your peers are making this crucial life move.

Why Gen Z is eager to become homeowners

Rocket Mortgage recently surveyed Gen Z to understand their homebuying motivations:

Family goals-- A significant 34% desire to start or expand their family, and what better way to do that than to secure a home?

Financial stability-- 20.8% of respondents seek the stability that comes with a fixed mortgage rate, allowing them to plan their finances better.

Our CashUp Suite of Products is designed to empower your financial decisions, offering rapid pre-approval and efficient loan processing to help you lock in that dream home, not to mention, giving you the “same as cash” buying experience.

Where Gen Z buyers are heading

If you’re ready to house-hunt, it's useful to know where others in your generation are looking. According to Lending Tree, Gen Z buyers prefer areas offering a mix of urban excitement and suburban peace.

Jacob Channel, Senior Economist at LendingTree, remarks, "Gen Z wants both city life and proximity to nature."

This is where your trusted Evergreen lender can help. Coupled with the fast and efficient mortgage options available through our CashUp Suite of Products, your loan officer can guide you through finding a perfect loan option that aligns with your budget and lifestyle preferences.

If you belong to Gen Z and are ready to step into the homebuying arena, let's connect. With CashUp Suite of Products from Evergreen Home Loan, you not only find a home that fits your life but also experience a streamlined, expedited financing process.

Ready to make your homeownership dreams come true? Contact your local Evergreen lender today!

Source: Keeping Current Matters

Program effective 9/13/2021, and is subject to change. Terms, restrictions and fees apply. For purchase loans only. Financing based on conforming loan limits. Not all applicants will qualify. Program only valid in select locations. Ask for details.

©2023 Evergreen Moneysource Mortgage Company® NMLS ID 3182. Equal Housing Lender. Trade/service marks are the property of Evergreen Home Loans. All rights reserved. Licensed under: AZ Mortgage Banker License #0910074; CA Dept. of Financial Protection and Innovation under the CA Residential Mortgage Lending Act #4130291; CO Regulated by the Division of Real Estate; FL Licensed as a Mortgage Lender by the Office of Financial Regulation; ID Mortgage Broker/Lender MBL-3134; MT Mortgage Lender License 3182; NV Mortgage Company License 4837; OR Licensed under the OR Consumer Finance Act ML-3213-NMLS 3182; TX Department of Savings and Mortgage Lending Company License NMLS #3182; WA Consumer Loan Company CL-3182; WY Mortgage Lender/Broker 3467. For additional licensing information, go to www.nmlsconsumeraccess.org

A chronic underbuilding crisis

Low inventory isn't a fleeting issue; it has its roots in years of underbuilding. Take a look at the historical data on new single-family home construction over the past several decades:

A 14-year streak of falling short of historical average construction rates has resulted in a persistent deficit in available homes. While builders are now building at a rate that meets the historical average, this inventory gap is not a problem that can be fixed overnight.

The mortgage rate conundrum

Another contributing factor to the current inventory issue is what's known as the mortgage rate lock-in effect. Many homeowners hesitate to sell because they fear higher mortgage rates on their next home. This apprehension is affecting potential inventory, as people are choosing to stay put rather than risk higher rates.

However, it's crucial to balance this financial consideration with your personal needs for making a move.

How Evergreen's CashUp Suite of Products can make a difference

In markets like these, Evergreen's CashUp Suite of Products can provide a significant advantage by offering flexible financing options that can make your offer more attractive to sellers. With CashUp, you'll be able to act quickly and decisively, giving you the edge in a competitive market.

Media-induced fear is no friend to housing inventory

Fearmongering by media outlets, speculating on housing crashes or steep declines in home prices, is further reducing the willingness of potential sellers to enter the market. As Jason Lewris, Co-Founder and Chief Data Officer at Parcl, observes:

"Uncertainty driven by misleading information is skewing real estate decisions, making people hesitant where they need not be."

What this means for you

For buyers: The scarcity of homes compels you to be flexible with your options, including location and type of housing. A competent real estate agent can guide you through the process, even suggesting ways to broaden your search if necessary. With Evergreen's CashUp Suite of Products, you have additional financial tools that could tip the scales in your favor.

For sellers: Low inventory actually works in your favor as it makes your property more noticeable. Now is an excellent time to consult a real estate agent who can help you take advantage of this unique market situation while assisting you in finding your next dream home.

Conclusion

Low inventory is a complex issue influenced by a myriad of factors. If you're contemplating making a move, don't hesitate to seek professional advice from your trusted Evergreen lender. Call us today to learn more about inventory in your area.

Source: Keeping Current Matters

Why Real Estate?

Real estate offers a myriad of opportunities for wealth creation.

Here are a few benefits:

Equity build-up: Monthly mortgage payments mean you're slowly buying more of your home, building equity along the way!

Appreciation: Over time, the value of real estate generally increases, boosting your net worth.

Passive income: Rental properties can become a source of steady income, letting you relax on a beach while the bucks roll in.

Tax advantages: Enjoy tax deductions on mortgage interest, property taxes, operating expenses, depreciation, and more.

Making it fun with Evergreen Home Loans

Evergreen Home Loans can be your go-to financial partner in this adventure. Evergreen offers a vast array of mortgage products and are known for their excellent customer service and streamlined processes, making the homebuying experience smooth, efficient, and yes, fun!

Custom-tailored loans: Evergreen Home Loans specializes in creating mortgage solutions that are custom-tailored to each buyer’s unique needs. Find your local Evergreen lender to start your unique homebuying journey!

Education and guidance: For those who find real estate markets daunting, Evergreen provides educational resources and expert guidance to make you feel more at ease in the property playground. As an example, check out their Mortgage Calculators!

Quick and efficient: Their processes are designed to be quick and efficient, minimizing the paperwork and hassle often associated with securing a mortgage.

How to begin?

1. Start small and learn:

Begin with a small, manageable property and gradually learn the ropes of property management, financing, and other nuances of real estate investment.

2. Diversify:

Spread your investments across different types of properties and locations to mitigate risk and enhance returns.

3. Leverage:

Use borrowed capital for investment to increase the potential return, and leverage the expertise of professionals.

Lively investment opportunities

House hacking:

Live in one unit of a multi-family home and rent out the others. You’re basically living for free and learning the art of property management.

Fix and flip:

Buy a fixer-upper at a low price, renovate it, and sell it for a profit. It’s like giving a home a makeover and getting paid for it!

Vacation rentals:

Turn your property into a vacation rental and tap into the booming tourism industry. It’s like hosting a never-ending party for travelers!

Conclusion: Wealth building can be fun!

Building wealth and equity through real estate can be exciting, rewarding, and yes, super fun! From scouting potential gems to seeing your property appreciate in value, every step can be an adventure. With a partner like Evergreen Home Loans, you can navigate through the real estate jungle with ease, gaining valuable insights and support along the way.

So, throw on your adventure hat, grab a map, and start your treasure hunt in the vibrant world of real estate! Your wealth-building journey is bound to be thrilling and prosperous!

Remember, the real estate world is vast and diverse, brimming with opportunities for everyone. Whether you are a first-time buyer or a seasoned investor, there’s always a new terrain to explore, a new property to discover. Contact your Evergreen lender today!

In 2023, the need is ever more urgent, with nearly 1 in 10 Washington residents and 1 in 6 children facing hunger. Recognizing this, we're honored to continue our tradition as the title sponsor and underwriter of "Rock the Harvest" for the fourth consecutive year, supporting Northwest Harvest's pivotal mission.

"Rock the Harvest" is a crucial annual event for Northwest Harvest, consisting of a radiothon and online auction facilitated by Seattle’s KZOK. The entire 12-hour event’s proceeds are directed towards supporting Northwest Harvest in diminishing hunger disparities and ensuring nutritious food is accessible to everyone in Washington facing difficulties.

We invite you to delve deeper into the remarkable work of Northwest Harvest or contribute to their cause at https://www.northwestharvest.org/.

Wish Heroes Art Exhibit: A Celebration of Strength and Dreams

As autumn leaves begin to fall, November brings with it the anticipation of the Wish Heroes Art Exhibit. Presented by Make-A-Wish Alaska & Washington and set against the backdrop of the Pioneer Square First Thursday Art Walk, this exhibit promises to be an inspirational and heartwarming event.

This isn't just any art exhibit. It's an exclusive gallery debut featuring original artwork from local wish kids. These pieces not only showcase talent but also narrate stories of resilience, dreams, and the indomitable spirit of these young heroes.

Meet Dareion 'Ace' - Evergreen Home Loan's 2023 Adopt-A-Wish Child

In the midst of all this excitement, we are beyond elated to introduce the Evergreen Home Loan’s 2023 Adopt-A-Wish, Dareion, affectionately known as 'Ace'.

A resident south of Tacoma, Ace recently celebrated his 13th birthday with his loving parents and younger siblings. Passionate about football, video games, food, Ace is a beacon of joy. His journey battling leukemia has been a challenging one, but if you meet him, his infectious and radiant smile would make you think otherwise.

This year, Ace had the esteemed honor of being selected as the Make-A-Wish Honorary Captain at the Huskies' season opener. And the cherry on top? He got to meet Dubs! But the real magic happened in early August when Ace’s wish of having a female bully puppy came true.

The Evergreen Commitment

At Evergreen Home Loans, we deeply resonate with Make-A-Wish's mission of creating life-changing wishes for children with critical illnesses. Through the Evergreen Cares Foundation, our dedication to being a force of good in our community remains unwavering. Our involvement in events such as the Wish Heroes Art Exhibit and the Adopt-A-Wish initiative reiterates our belief that together, we can weave stories of hope, strength, and joy.

Come join us this November 2^nd, 2023 at the Wish Heroes Art Exhibit and let's celebrate the incredible journey of young heroes like Ace. Your presence will not only honor their strength but also support the incredible work done by Make-A-Wish Alaska & Washington.

Let’s make a different together, one wish at a time!

For many, the dream of owning a home or upgrading to a new one is accompanied by a mix of excitement, anticipation, and sometimes, apprehension. The fluctuating nature of home prices can be an emotional rollercoaster, especially when major life decisions hinge on these numbers.

If recent headlines have made you hesitant about entering the housing market due to fears of dropping home prices, we're here to provide some clarity. Contrary to some beliefs, home prices are not on a downward trajectory. National data paints a different picture, showcasing a consistent rise in home values this year. Just take a look at the graph below:

Breaking down the graph:

In the early half of 2022, there was a noticeable spike in home prices. However, such sharp increases are often unsustainable.

The latter half witnessed a mild correction, causing a slight dip in prices. Although short-lived, media coverage amplified these dips, leading to uncertainty among potential buyers and sellers.

Fast forward to 2023, the tide has changed again. Prices are on the rise, but at a steadier and more sustainable rate.

Orphe Divounguy, a renowned economist from Zillow, elaborates:

“The U.S. housing market has surged over the past year after a temporary hiccup from July 2022-January 2023. The brief downturn is now behind us, with the market showing remarkable resilience in 2023.”

As we move further into the year, it's typical for home price growth to moderate. However, it's essential to differentiate between slowing growth and actual depreciation. A deceleration in appreciation is still positive growth.

Why this surge in home prices?

At its core, it's a matter of supply and demand. The market currently has fewer homes available than there are interested buyers. High mortgage rates, while dampening some buyer demand, have also reduced the number of homes available. This is primarily due to the mortgage rate lock-in effect: homeowners are hesitant to sell and forfeit their low mortgage rates for higher ones on a new property. Freddie Mac aptly summarizes:

“Rising interest rates have both dampened demand and reduced supply. However, the reduced supply has had a more pronounced effect, leading to increasing house prices.”

What does this mean for you?

Buyers: If apprehensions about decreasing home values kept you on the sidelines, it's heartening to know that prices are trending upwards. Homeownership remains an investment that generally appreciates over time.

Sellers: If you've delayed selling your property due to price concerns, now might be the right time to engage with a real estate professional. Current data is in your favor.

In Conclusion

Should you have paused your home plans because of price concerns, know that the national trend is showing an uptick in home values. Let's touch base to discuss how this scenario is playing out in our local market. We're here to guide you every step of the way.

Source: Keeping Current Matters

Getting Your Home Ready

You’ve navigated the homebuying process and now it's time to navigate holiday hosting. Start by thinking about the practicalities: seating arrangements, table settings, and where guests will place their belongings. Don't have enough chairs or a big enough table? Now's the time to borrow some or consider renting. Keep it functional - comfort is key.

Menu Planning

Hosting Thanksgiving for the first time is ambitious, so give yourself permission to keep the menu manageable. There's no rule that says everything has to be homemade, so feel free to mix in some store-bought items or delegate dishes to your guests. Think about what you can realistically prepare with your kitchen space and tools, and don't be afraid to keep it simple. The Pioneer Woman has menu ideas for every need: 50 Best Thanksgiving Menu Ideas

Decorating: Less Can Be More

Your new home is something to be proud of, and Thanksgiving is an opportunity to showcase it in a festive way. However, you don't need to go overboard with decorations to make an impact. Use seasonal flowers, unscented candles, and a few tasteful autumnal touches to create a cozy environment.

Accommodating Overnight Guests

Chances are, as a new homeowner, you might not have a fully outfitted guest room. No worries. Clean linens, some fluffy towels, and a clean, clutter-free space are all you need to make guests feel welcome. And if you can throw in a Wi-Fi password and a spare charger, you’re all set.

Gratitude

While it might seem like another task, taking a moment during the evening to express what you’re thankful for can be a grounding experience. It doesn’t have to be a grand speech—just a few words to acknowledge the good in your life, including your new home.

Take Time to Enjoy

It’s easy to get caught up in host duties, but don’t forget to take a moment for yourself. Step back and savor the scene you’ve created: the bustling kitchen, the clinking of glasses, the stories being shared. It’s all part of the experience.

Giving Back

In the spirit of the season, consider how you can extend the warmth of your new home beyond its walls. Whether it’s donating to a food bank or simply inviting someone who doesn’t have a place to go for the holiday, small gestures can make a big impact.

At Evergreen Home Loans, we understand that home is more than just a physical space; it’s where life happens and memories are made. As you embark on this first of many Thanksgivings in your new home, remember that the best gatherings are about the people you share them with, not perfection.

1. Turkey Pot Pie

Transform your turkey into a heartwarming pot pie. It's a fantastic way to use leftover veggies, too! Try this Classic Turkey Pot Pie Recipe and give your leftovers a delicious makeover.

2. Cranberry Sauce Muffins

Bake your cranberry sauce into delightful muffins, perfect for breakfast or a snack. This Cranberry Sauce Muffin Recipe will help you turn that sauce into a sweet treat.

3. Sweet Potato Pancakes

Leftover sweet potatoes? Whip up some sweet potato pancakes for a cozy brunch. This Sweet Potato Pancakes Recipe is a great start.

4. Thanksgiving Pizza

Combine leftover turkey, cranberry sauce, and cheese on a pizza base for a unique meal. This Thanksgiving Pizza Recipe is a must-try.

5. Turkey and Stuffing Casserole

Mix turkey and stuffing in a casserole for an easy and hearty dish. Here’s a Turkey and Stuffing Casserole Recipe you’ll love.

6. Cranberry BBQ Sauce

Revamp your cranberry sauce into a tangy BBQ sauce, perfect for grilled meats. Give this Cranberry BBQ Sauce Recipe a try.

7. Turkey Salad

For a lighter option, make a refreshing turkey salad. Customize it with your favorite ingredients. Start with this Turkey Salad Recipe.

Remember, the clock is ticking! With "Throw Out Your Leftovers Day" on November 29th, it's the perfect time to get creative in the kitchen. At Evergreen Home Loans, we’re not just about finding you the perfect home; we’re about helping you enjoy every aspect of it - including those Thanksgiving leftovers.

Enjoy reinventing your holiday meals!

'Tis the Season for Deals

Just as retailers offer enticing deals on holiday gifts, the year's end often sees a dip in home prices. Sellers motivated to close deals before the year concludes may be more flexible on pricing, creating opportunities for buyers to snag a home at a more affordable rate. At Evergreen Home Loans, our experienced loan officers are dedicated to helping you navigate the market and find the best deals.

Tax Advantages Under the Tree

Buying a home before the year closes can bring about some welcome tax advantages. Many of the expenses related to homeownership, such as mortgage interest, property taxes, and certain closing costs, may be eligible for deductions when tax season rolls around. Securing your new home before the calendar flips means you could enjoy these potential tax benefits sooner rather than later, with guidance from our skilled loan officers.

Beat the New Year Rush

Just as eager shoppers rush to grab the latest gadgets before they sell out, prospective homebuyers might find it advantageous to beat the New Year rush. The start of a new year often sees an uptick in real estate activity, with an influx of buyers entering the market. By making your move in December, you could avoid the heightened competition and potentially negotiate more favorable terms, thanks to the expertise of our loan officers.

A Gift That Keeps on Giving: Home Equity

Investing in a home at the end of the year is like giving yourself a gift that keeps on giving—home equity. As you make mortgage payments and build equity, you're essentially creating a financial asset that can provide stability and future opportunities. With Evergreen Home Loans, our loan officers can help you choose the right loan program to maximize your investment.

Cozy Home for the Holidays

What better way to celebrate the holidays than in your new home? Purchasing a home at the end of the year means you could be settling into your cozy abode just in time for the festive season. Imagine decorating your own space, hosting holiday gatherings, and creating lasting memories in a home that's truly yours, all with the support and guidance of our dedicated loan officers.

The end of the year isn't just about festive decorations and holiday cheer—it's also a fantastic time to explore the benefits of homeownership. Like finding the perfect stocking stuffers, discovering the advantages of year-end homebuying can make this season even more joyful. If you're considering making a move, Evergreen Home Loans is here to help you every step of the way. Our experienced loan officers are committed to helping you find your dream home before the year-end. Unwrap the possibilities and start the new year in a place you can truly call home.

Contact your local Evergreen Home Loans Officer today, and let us guide you on your journey to homeownership!

The latest survey findings show a shift in economists' perspectives. Less than half (48%) now predict a recession in the upcoming year, marking a notable decrease from previous forecasts. This change in sentiment indicates a growing optimism about the U.S. economy's resilience.

While the threat of job losses can't be entirely dismissed, and any loss is significant for those affected, the broader economic context suggests a stable housing market. Historical data from Macrotrends and the Bureau of Labor Statistics (BLS) reveal that the current unemployment rate remains near all-time lows, well below the average since 1948 (5.7%) and significantly lower than the peak during the 2008 financial crisis (8.3%).

Looking ahead, projections suggest that the unemployment rate will likely stay below the 75-year average. This scenario reduces the likelihood of a foreclosure wave that could destabilize the housing market.

The Evergreen Perspective

At Evergreen Home Loans, we closely monitor these economic indicators to provide you with the most accurate and helpful insights. Most economists are moving away from predicting an immediate recession and do not foresee a dramatic increase in unemployment leading to a housing market crash.

Our commitment is to keep you informed and confident in your housing decisions. If you're concerned about how unemployment might affect the housing market and your home loan options, Evergreen Home Loans is here to help. Connect with your local Evergreen lender to get your homebuying journey started.

Federal Reserve Chairman Jerome Powell, addressing the current economic climate, indicated an expectation of three 25 basis point reductions in rates during 2024. This strategic shift signals the end of rate hikes and a new phase in monetary policy, potentially bolstering investment confidence.

Responding to this development, the bond market saw a drop in the 10-year Treasury yield to 4.0%, a low since late July. Experts, including Mike Fratantoni from the Mortgage Bankers Association, interpret this as an end to discussions about further rate hikes, focusing instead on the rate reduction pace. This is anticipated to positively affect housing and mortgage markets, potentially leading to lower mortgage rates and spurring modest growth in home sales for 2024.

Evergreen Home Loans, a key player in the mortgage sector, has been closely monitoring these developments. "The Fed's decision aligns with our expectations and bodes well for homebuyers and the overall housing market," states a spokesperson from Evergreen Home Loans. "We foresee an uptick in mortgage activities, including refinancing, as rates become more favorable."

Throughout 2023, the Fed's rate hikes impacted various sectors, with the mortgage industry being particularly affected. TransUnion reports a 37% year-over-year decrease in mortgage originations. Evergreen Home Loans, however, has navigated these challenges by focusing on customer-centric solutions and anticipates a more favorable environment in 2024.

Selma Hepp, chief economist at CoreLogic, notes that despite a strong November jobs report, signs of economic cooling are evident. This includes slower job growth and modest rises in unemployment rates, hinting at a more restrained economic outlook for the next year.

Looking ahead, the anticipation of rate cuts in 2024 brings a positive outlook. The Primary Mortgage Market Survey index by Freddie Mac, which stood just above 7% recently, is expected to decline further, providing relief to rate-sensitive homebuyers.

Evergreen Home Loans echoes the sentiment of Realtor.com Chief Economist Danielle Hale, expecting mortgage rates to drop to around 6.5% by year-end 2024. This decrease would greatly benefit those with existing high-rate mortgages, opening up opportunities for refinancing and greater affordability.

Michele Raneri, VP of U.S. research and consulting at TransUnion, highlights the potential savings for homeowners with a rate drop to 5.5%. This could mean significant monthly savings, freeing up resources in a high cost-of-living environment.

In conclusion, the Fed's steady approach and future rate cuts are seen as a positive development by Evergreen Home Loans and other market players, paving the way for a more vibrant housing market in 2024.

Source: HousingWire

1. Defining Your Homeownership Vision

Reflect on what homeownership means to you. Whether it's a high-rise city apartment, a cozy suburban house, or a sprawling rural property, get clear on your preference. Research the current housing market to understand the price ranges and what you can realistically afford. Set achievable goals with a clear timeline and budget in mind.

2. Strategizing for the Down Payment

The down payment is often the biggest financial hurdle in buying a home. Aiming to save at least 20% of your intended home's value can help you avoid private mortgage insurance (PMI). Here's how you can boost your down payment fund:

Automate Savings: Direct a portion of your income to a dedicated savings account.

Budget Review: Scrutinize your spending and find areas where you can cut back.

Supplement Your Income: Consider additional work or side hustles to increase your savings rate.

3. Boosting Your Credit Score

A strong credit score can lead to better mortgage terms and rates. Enhance your creditworthiness by:

Punctual Bill Payments: Ensure timely payment of bills. Automate them if possible.

Lowering Debt Levels: Focus on reducing your overall debt, particularly high-interest debts.

Regular Credit Report Checks: Monitor your credit report for errors and rectify any inaccuracies promptly.

4. Exploring Mortgage Options

Familiarize yourself with various mortgage types to find the best fit:

Fixed-Rate Mortgages: Ideal for those seeking consistent payments.

Adjustable-Rate Mortgages (ARMs): Start with a lower rate but can fluctuate over time.

Government-Backed Loans: FHA, VA, and USDA loans can offer benefits like lower down payments for qualified buyers.

5. Accounting for Additional Expenses

Homeownership involves more than just a mortgage. Remember to budget for closing costs, property taxes, insurance, and ongoing maintenance.

6. Consulting the Experts

Reach out to real estate professionals, mortgage advisors, and financial planners. Their expertise can guide you through the complexities of the home buying process.

7. Maintaining Flexibility and Patience

The road to buying a home can have unexpected turns. Stay adaptable and patient as you navigate this journey. Be prepared for market shifts and adjust your plans accordingly.

As 2023 comes to a close, take this opportunity to align your financial habits and goals towards making homeownership a reality in 2024. Remember, success in this endeavor comes from being well-prepared, informed, and persistent. Be sure to connect with your local Evergreen lender as you start your homebuying journey. May the new year bring you closer to the keys of your dream home!

Lenders review your credit to evaluate your ability to make timely payments, repay debts, and more. Your credit score is also a factor that helps determine your mortgage rate. As CNBC explains: “When it comes to mortgages, a higher credit score can save you thousands of dollars over time. Your credit score directly impacts your mortgage rate, which determines the amount of interest you'll pay over the life of the loan.”

This means that right now, your credit score might feel even more crucial to your homebuying plans since mortgage rates are a key factor in affordability, particularly in the current market.

According to the Federal Reserve Bank of New York, the median credit score in the U.S. for those taking out a mortgage is 770. However, you don't need a perfect score to buy a house. As Business Insider notes, aiming for a 'Good' range (670 to 739) is a great start toward qualifying for a mortgage. To access the lowest rates, strive for a 'Very Good' range (740 to 799).

Consulting with a trusted lender is the best way to understand how your credit score might impact your home loan and mortgage rate. As FICO states: “While many lenders use credit scores like FICO Scores to help them make lending decisions, each lender has its strategy, including the level of risk it finds acceptable. There is no single 'cutoff score' used by all lenders and there are many additional factors that lenders use to determine your actual interest rates.”

If you're aiming to improve your score, Experian suggests focusing on:

Your Payment History: Late payments can negatively impact your score. Aim to make payments on time and quickly address any existing late charges.

Your Debt Amount (relative to your credit limits): The less of your available credit you're using, the better. Strive to keep this number as low as possible.

Credit Applications: Avoid applying for additional credit when you're looking to buy something. New credit applications can result in hard inquiries that may lower your score.

An Evergreen lender will guide you through the process from start to finish, assessing your score range and informing you about the specifics for each loan type.

As you focus on buying a home this year, concentrating on boosting your credit score could secure you a better mortgage rate when you're ready to make a move.

To schedule a free one on one consultation with an expert, connect with a trusted local lender!

Source: Keeping Current Matters

How Does Mortgage Refinancing for Debt Consolidation Work?

Refinancing your mortgage for debt consolidation allows you to convert the equity in your home into cash. This cash can then be used to pay off various debts, such as credit card balances, medical bills, or student loans. Essentially, you're consolidating various debt payments into one potentially more manageable mortgage payment.

Key Considerations for Mortgage Refinancing for Debt Consolidation:

Equity Requirements: To take advantage of this strategy, you need to have sufficient equity in your home. The amount you can borrow will depend on the current value of your home and the amount you still owe on your existing mortgage.

Not a Universal Solution: It's crucial to understand that this strategy may not be suitable for everyone. Eligibility depends on several factors, including your credit score, the amount of equity in your home, and current market conditions.

Funding Limits: While refinancing can provide significant financial relief, there are limits to how much you can borrow. Typically, lenders allow you to borrow up to a certain percentage of your home's value, ensuring that you don't overextend your financial commitments.

Financial Prudence: This strategy should be part of a broader financial plan. It's essential to consider the long-term implications of refinancing and ensure it aligns with your overall financial goals.

Evergreen Home Loans understands the importance of making informed financial decisions. By considering mortgage refinancing for debt consolidation, you can potentially reduce your interest rates, lower your monthly payments, and achieve a more streamlined financial situation. However, it's crucial to assess this option in the context of your overall financial plan and goals.

Interested in exploring how refinancing your mortgage could help consolidate your debts? Reach out to your local Evergreen Loan Officer today for a free consultation. Our team provides you with insights and options tailored to your financial landscape, helping you navigate the path to a more secure financial future.

However, strategic pricing remains a critical factor in the selling process. Setting the right asking price is more than just a number; it's about making an impactful first impression on potential buyers. Listings that are priced too high might not only deter prospective buyers but could also prolong the time your property stays on the market.

Understanding the Pitfalls of Overpricing

An overpriced home can be a significant deterrent. Buyers are more informed and budget-conscious than ever, wary of overextending financially in a market where home values continue to rise alongside mortgage rates. An asking price that overshoots the market value might lead buyers to dismiss your property before exploring it further. A stagnant listing could then necessitate a price reduction, which potential buyers might interpret negatively, questioning the home's value or condition.

The Role of Your Loan Officer

Having a knowledgeable loan officer by your side is vital in navigating the financial aspects of selling your home. At Evergreen Home Loans, our loan officers are adept at understanding the nuances of the market and can provide invaluable guidance on how pricing can affect your financial outcome. They work closely with real estate agents and homeowners, considering factors like current loan rates, market trends, and your financial goals. This comprehensive approach ensures that the financial aspects of your home sale are strategically aligned to attract buyers, facilitate competitive offers, and achieve a swift and successful sale.

Strategically Pricing Your Home

The aim is to set a price that sparks interest among buyers, potentially leading to multiple offers. Homes priced correctly from the get-go are more likely to sell quickly, even in a competitive market. Our goal at Evergreen Home Loans is to partner with you in this critical phase, ensuring your home is priced to capture the attention of serious buyers, thereby facilitating a faster and more profitable sale.

Conclusion

Maximizing profit while attracting a broad pool of potential buyers is a delicate balance. Overpricing can hinder the selling process, but with the right strategy, you can achieve a successful sale. Connect with your local Evergreen Loan Officer to ensure you’re making your best financial decisions!

Source: Keeping Current Matters

My husband and I had a desire to care for vulnerable children in need of a place to belong.  So we started doing foster care in Kitsap County- where there is a huge need for nurturing and stable families to provide care to children and youth.  On our journey, we ended up adopting 4 of the kids who came into our care and now they are part of our forever family.  This was a long journey with many points of heartbreak.  We could not have made it through without the support from our foster care agency out of Port Orchard, Community & Family Services Foundation. 

The agency’s level of support to families taking in abused and neglected children was crucial to our children’s as well as our family’s success. Community and Family Services (CFSF) licenses and supports foster families all over the state of Washington to provide care for children age birth to 21 who might be typically developing, have high needs, are at risk, developmentally disabled, medically fragile or pregnant and parenting teens, among other needs.  Their well-trained staff offers training to parents to support the placements of the children in their care- ranging from short to long term.

I have the privilege of linking my passion for foster and adoptive families to be supported with what I do in the mortgage industry.  How does this relate and how does it benefit you?  For every loan closed with me at Evergreen Home Loans, I have dedicated to donate $300 to Community and Family Services Foundation.  I believe it is a symbol of hope and solidarity for families who strive to provide a place of belonging for vulnerable children and youth.  When you choose me as your loan officer, you are partnering with me on that support!

Moreover, my skills in advocating for the needs of children in my care translates over to
my role as a mortgage lender. That same persistence, education, and empathy are what I strive to bring all of my clients.  I am a strategic problem-solver, ensuring you’re your individual needs and goals are at the forefront. With me as your loan officer, you can trust that you are not just securing a loan but also gaining a dedicated ally who will go above and beyond to ensure YOUR financial well-being and peace of mind.

Why May Is the Time to Move

National Moving Month marks the beginning of the busiest time of year for home buying and moving. With warmer weather and the school year winding down, May is the perfect time to make a move. It’s also a great time to sell, as many buyers are looking to settle into a new home before the new school year begins.

Tips for a Smoother Move

Start Planning Early— Begin your moving process by researching and selecting a reliable moving company well in advance. Demand is high in May, so early booking can help you secure the best rates and services.

Declutter Before Packing— Lighten your load and reduce moving costs by decluttering your home. Sell, donate, or throw away items you no longer need.

Keep Important Documents Handy— Organize important documents like passports, house deeds, and insurance papers into a folder that you can keep with you during the move.

Label Everything— Clearly label each box with its contents and the room it’s destined for. This will make unpacking much easier and more organized.

Your Moving Checklist

Two Months Out

• Research and book a moving company.
• Start gathering moving supplies— boxes, tape, bubble wrap, etc.
• Create an inventory of your belongings.

One Month Out

• Begin packing non-essential items.
• Notify utilities and services of your move date and arrange for services at your new home.
• Change your address with the postal service, banks, and other important contacts.

Two Weeks Out

• Continue packing all but your daily essentials.
• Plan for the transfer of school records and prescriptions if necessary.
• Confirm moving day logistics with your moving company.

One Week Out

• Pack an essentials box that includes everything you’ll need for the first day in your new home (toiletries, medications, chargers, etc.).
• Begin deep cleaning your home, or arrange for a cleaning service.

Moving Day

• Do a final walkthrough of your home to ensure nothing is left behind.
• Verify the moving truck and ensure it’s the correct one from the company you hired.
• Keep your inventory list handy to check off items as they’re moved.

Upon Arrival

• Conduct an initial inspection of your new home to identify any issues.
• Begin the unpacking process with your essentials.
• Take time to introduce yourself to your new neighbors.

Moving can be a daunting task, but with careful planning and preparation, it can also be an exciting new chapter in your life. At Evergreen Home Loans, we’re not just here to help you finance your new home; we’re here to support you every step of the way. Get in touch with your local Evergreen Loan Officer to start your homebuying journey, and you could be in your new home by the end of National Moving Month! Enjoy National Moving Month, and welcome home!

This recognition is not just a reflection of our financial services but underscores our commitment to corporate philanthropy through the Evergreen Cares Foundation. Since its inception, the Evergreen Cares Foundation has been a pivotal element of our mission, aiming to nurture and empower communities across the Western U.S. where our offices are located—Arizona, California, Idaho, Montana, Nevada, Oregon, and Washington.

The Corporate Citizenship Award celebrates businesses that are not just successful in their industries but are also leaders in philanthropic efforts and community involvement. For us at Evergreen Home Loans, receiving this award for the fourth consecutive year is a testament to the enduring dedication of our team to make a real difference.

Through the Evergreen Cares Foundation, we engage in various initiatives that address crucial community needs. These range from educational programs and affordable housing projects to support for local non-profits that make daily impacts in people's lives. The Foundation's activities are propelled by our employees' passion and willingness to volunteer, fundraise, and advocate for change.

Recognition such as the Corporate Citizenship Award is particularly meaningful because it acknowledges our holistic approach to business—one that considers profit and purpose as equally important. "Our commitment to enriching our local community is extremely important to us," said Don Burton, Founder and CEO of Evergreen Home Loans. "Receiving this recognition honors our team's efforts and our belief that even small acts of kindness can create ripple effects of change."

Looking forward, we remain committed to enhancing our philanthropic efforts through the Evergreen Cares Foundation and continuing to serve as a model for corporate responsibility. We are excited about the future projects and partnerships that will further our impact and extend our reach to even more communities.

For those interested in learning more about Evergreen Home Loans or exploring career opportunities with a company that values both professional growth and community engagement, please visit our Careers page. Join us in making a meaningful impact while advancing your career in a supportive and dynamic environment.

As we celebrate this recognition, we invite you to learn more about how Evergreen Home Loans is making a difference and how you can be a part of our continuing journey.

Honoring Our Service Members

We reflect on the courage, dedication, and patriotism of those who have served in the U.S. Armed Forces. Whether they served during times of conflict or peace, their commitment to protecting our freedoms deserves our utmost respect and gratitude. At Evergreen Home Loans, we are committed to supporting our service members not just on special occasions, but every day, by helping them achieve their homeownership dreams.

Understanding VA Loans

VA loans are a special type of mortgage designed to make homeownership more accessible for veterans, active-duty service members, and certain members of the National Guard and Reserves. These loans are backed by the Department of Veterans Affairs (VA) and offer several significant advantages:

1. No Down Payment Required: One of the most appealing benefits of a VA loan is that it typically does not require a down payment. This can make purchasing a home more attainable for those who may not have substantial savings.
2. Competitive Interest Rates: VA loans often come with lower interest rates compared to conventional loans. This can result in significant savings over the life of the loan.
3. No Private Mortgage Insurance (PMI): Unlike conventional loans, VA loans do not require private mortgage insurance, even when the borrower puts down less than 20%. This can reduce your monthly payments and overall loan costs.
4. Flexible Credit Requirements: VA loans tend to have more flexible credit requirements, making it easier for veterans with varied credit histories to qualify.
5. Limited Closing Costs: The VA places limits on the amount of closing costs that service members can be charged, which can make the home buying process more affordable.
6. Lifetime Benefit: The VA loan benefit is not a one-time opportunity. Eligible service members can use it multiple times throughout their lives, as long as they meet the VA’s requirements.

How Evergreen Home Loans Can Help

At Evergreen Home Loans, we are proud to support our service members by offering expert guidance and assistance with VA loans. Our team understands the unique needs of military families and is dedicated to providing personalized service to help you navigate the home buying process.

This recognition highlights our unwavering commitment to delivering exceptional customer experiences. Evergreen Home Loans stands among the 300+ mortgage lenders included in the Experience.com customer satisfaction index. From a pool of 50,000 loan officers, the following Evergreen associates have distinguished themselves as top performers in customer ratings:

• Cathy Pizzini
• Dylan Langei
• Kendra Graybeal
• Melissa Foster
• Nicole Walker
• Siara Jay

Experience.com, a leader in Customer Experience Management Software, has been honoring outstanding mortgage professionals and companies for six consecutive years. The awards are based on extensive analysis of customer reviews, survey participation rates, and star ratings submitted on the Experience.com platform. Being recognized as a Top Performer is a testament to the exceptional levels of customer satisfaction consistently delivered by these loan officers.

We invite you to explore the full list of Experience.com’s Top 2023 Loan Officers for Customer Satisfaction by visiting the 2023 Top Performers Results.

Join Us in Celebrating Our Achievements

We are immensely proud of our team’s dedication and excellence in serving our customers. Their hard work and commitment to providing outstanding service have earned them this well-deserved recognition. Join us in celebrating their achievements and learn more about how Evergreen Home Loans can assist you in your home buying journey.

Thank you for choosing Evergreen Home Loans. Your trust and satisfaction are our greatest rewards.

July

Start your summer with these essential home maintenance tasks:

Inspect and Clean Your Gutters: Clear out leaves, sticks, and other debris to prevent water overflow that could damage your roof and foundation.

Check Your Roof for Damage: Inspect for missing or damaged shingles, cracks, or signs of wear and tear to prevent costly repairs.

Service Your Air Conditioning System: Schedule a professional service to check for issues, replace filters, and ensure efficiency.

Examine Windows and Doors: Check seals around windows and doors to prevent cool air from escaping and reduce energy bills.

Inspect Your Deck and Outdoor Spaces: Look for loose boards, cracks, or mildew, and make necessary repairs to keep outdoor areas safe and enjoyable.

Fence and Driveway Maintenance: Fix any holes or loose nails in your fence; paint or stain if necessary. Fill holes or cracks in your driveway.

August

For many regions, August tends to be a reliably hot and humid month. Make sure your home can efficiently keep you cool and prevent mold and moisture build-up:

Pest-Proof Your Home: Schedule professional pest maintenance or an exterminator to evaluate potential pest problems and prevent future ones. Check for leaky pipes or stagnant water around your home.

Bathroom Maintenance: Eliminate signs of mold, repair and clean grout, replace caulk, and seal where necessary. Clean faucet aerators and showerheads. Check water softener and salt levels.

Wash Windows and Door Screens: Keep your windows and screens clean to improve air quality and natural light.

Check Drainage: Ensure summer storm water runs away from the foundation of your home to prevent water damage.

September

September is typically another hot weather month and an excellent time for deep cleaning and preparing for fall:

Deep Clean Carpets: Hire a carpet cleaning service or rent a carpet cleaning vacuum to refresh your carpets.

Clean Fridge and Freezer Coils: Clean and empty drip trays to keep your fridge and freezer running efficiently.

Replace Washers in Faucets: Replace washers in any interior or exterior faucets to prevent leaks.

Change HVAC and Furnace Filters: Replace filters every three months (or more frequently if you have pets, use a fireplace, or have allergen sensitivities).

By taking the time to perform these summer home checkup tasks, you’ll help maintain your home’s value, improve energy efficiency, and create a safer, more enjoyable living environment. At Evergreen Home Loans, we’re committed to helping you make the most of your homeownership experience. For more tips and resources, or to discuss your home financing needs, visit our website or contact us today.

Enjoy your summer and happy home maintenance!

Throughout her tenure with Evergreen, Tamra Rieger has exemplified exceptional leadership. Under her guidance, our company has expanded its footprint across seven states in the Western U.S., offering a wide range of home loan products tailored to meet the diverse needs of our communities.

"It's truly an honor to receive the 2024 HousingWire Women of Influence award," Tamra shared. "For me, this award isn't just a personal achievement—it's about inspiring other women to step into leadership roles with confidence. I believe in dreaming big and breaking through any limits we set for ourselves. Together, let's continue to pave the way for the next generation of women leaders in our industry."

The HousingWire Women of Influence award is a testament to Tamra's dedication and vision, highlighting her role in shaping the future of mortgage and real estate industries. Clayton Collins, CEO of HW Media, emphasized the significance of this recognition, praising Tamra and other female executives for their transformative impact.

At Evergreen Home Loans, we're committed to more than just mortgages. We're dedicated to building communities and empowering homeownership through our comprehensive range of loan products, including FHA, VA, Conventional, Jumbo, USDA loans, refinancing, and construction financing.

Browse our innovative products to learn more about how we're making homeownership accessible and affordable while upholding the highest standards of service and integrity. Join us in congratulating Tamra Rieger on this well-deserved honor as a trailblazer and leader in our industry.

Three years ago, Don Burton entrusted 30-year company veteran Don Zender with the honor of carrying the baton as President of Production during one of the most challenging market conditions of our lifetime. Don Zender, supported by an incredible production leadership team that includes Todd Miles, Joe Moley, and Robert Lipston, has risen to the challenge. Together, with the collective effort of the entire Evergreen family, they have thrived and succeeded in a market where others have faltered, finding opportunities within adversity and learning to handle challenges more effectively.

Throughout these years, the team has grown accustomed to embracing discomfort and has climbed new heights. While the climb is ongoing, it is now time for Don Zender to pass the baton. Evergreen is poised to sprint into its next phase of growth, and there is no one better suited to lead this charge than Robert Lipston. Since joining Evergreen in 2022, Robert has brought company growth along with a fresh and powerful perspective and his extensive industry experience. Having worked closely with Robert, the Executive Team is unified and confident that he is the perfect choice for leading Production.

Evergreen Home Loans is thrilled to announce that Robert Lipston is promoted to Head of Production, effective July 2, 2024. Don will continue in the role of President of Production through the end of 2024, supporting Robert in this transition.

Robert Lipston shared, “I am very excited and honored to serve as the Head of Production. I am grateful to Don for everything he has taught me, and I am thrilled to build on his legacy. Don has imparted valuable lessons, and I promise to honor his legacy and continue to support the company’s convictions of Integrity, Family, Fun, Growth, and Creativity. I look forward to creating continued Evergreen growth and success. We will strive to live up to our vision of changing the world one relationship at a time.”

Starting in 2025, Don will remain a member of the Executive Leadership Team and manage the Bellevue Washington Region while championing exciting growth initiatives across the company. This seamless transition ensures that Evergreen Home Loans remains a leader in the industry, committed to its core values and mission of making homeownership dreams come true.

Stay tuned for more updates as Evergreen Home Loans continues to grow and innovate under its new leadership, forging a path of success and transformation in the home loan industry.

What is a Home Inspection?

A home inspection is a detailed examination of a property's condition. Conducted by a professional home inspector, this process evaluates the structural and mechanical systems of the home. Here are the key aspects of a home inspection:

Key Features of a Home Inspection:

1. Structural Components: Inspectors assess the foundation, roof, walls, and other structural elements.
2. Mechanical Systems: This includes plumbing, electrical systems, heating, and cooling systems.
3. Interior and Exterior: Inspectors examine windows, doors, floors, ceilings, and other interior and exterior features.
4. Safety Concerns: Potential hazards, such as faulty wiring or mold, are identified.
5. Detailed Report: After the inspection, a comprehensive report is provided, highlighting issues and recommended repairs.

What is a Home Appraisal?

A home appraisal is an evaluation of a property's market value. Performed by a licensed appraiser, this process ensures that the property's value aligns with the loan amount requested by the buyer. Here are the primary components of a home appraisal:

Key Features of a Home Appraisal:

1. Market Analysis: Appraisers compare the property to similar homes recently sold in the area.
2. Property Condition: The overall condition of the home influences its market value.
3. Location: The neighborhood and surrounding amenities impact the property's worth.
4. Appraisal Report: A detailed report is generated, providing an estimate of the home's value.

Why Are Inspections and Appraisals Important?

Home Inspection Benefits:

• Identify Issues: Detects potential problems that might not be visible to an untrained eye.
• Negotiation Tool: Buyers can negotiate repairs or price reductions based on the inspection report.
• Future Planning: Provides insight into future maintenance and repairs.

Home Appraisal Benefits:

• Loan Approval: Lenders require an appraisal to ensure the loan amount matches the property's value.
• Investment Confidence: Ensures buyers are making a sound financial investment.
• Market Value Verification: Confirms the property is priced accurately based on market conditions.

Key Differences Between an Inspection and an Appraisal:

1. Purpose: Inspections focus on the condition of the property, while appraisals determine its market value.
2. Conducted By: Inspections are performed by home inspectors; appraisals are done by licensed appraisers.
3. Outcome: Inspection reports highlight repairs and issues; appraisal reports provide an estimated property value.

Understanding the difference between a home inspection and a home appraisal is essential for homebuyers. Both processes play a critical role in ensuring the property is a wise investment. At Evergreen Home Loans, we're committed to helping you navigate the home-buying process with confidence. Our team of experts is here to provide guidance and support every step of the way.

Ready to take the next step in your homebuying journey? Contact your local Evergreen Lender today to learn more about our Innovative Products and how we can help you achieve your homeownership dreams.

Market Uncertainty

Elections inherently bring a degree of uncertainty, and the housing market is not immune to this. Leading up to an election, potential buyers and sellers might adopt a wait-and-see approach, leading to reduced market activity. This hesitation stems from uncertainties about future economic policies, tax reforms, and regulatory changes that could influence housing affordability and investment returns.

Policy Expectations

Presidential candidates often propose varying economic policies that can directly impact the housing market. These policies may include changes in:

1. Interest Rates:
• The Federal Reserve's decisions on interest rates are influenced by the broader economic outlook, which can be affected by election outcomes. Lower interest rates generally make mortgages more affordable, potentially boosting home sales, while higher rates can have the opposite effect.
2. Tax Policies:
• Proposals to modify tax deductions, such as the mortgage interest deduction, can significantly impact homeowners and buyers. Candidates’ stances on capital gains taxes also affect real estate investors and the attractiveness of housing investments.
3. Housing Regulations:
• Policies related to zoning laws, affordable housing initiatives, and environmental regulations can influence the supply and demand dynamics within the housing market. Candidates’ views on housing development and urban planning play a crucial role here.

Economic Confidence

A presidential election can affect consumer confidence and spending behavior. If the election outcome is perceived as positive for economic growth, consumer confidence may increase, leading to higher demand for homes. Conversely, if the results raise concerns about economic stability, potential buyers might delay purchasing decisions, slowing down market activity.

Historical Trends

Analyzing historical data provides insights into how past elections have influenced the housing market. According to data from HUD and the National Association of Realtors (NAR), home sales increased after 9 of the last 11 presidential elections. Typically, the housing market experiences a temporary slowdown in the months leading up to an election, followed by a rebound once the uncertainty diminishes.

Long-term Considerations

While elections can cause short-term fluctuations, it’s essential to consider long-term housing market fundamentals. Factors such as population growth, urbanization trends, and technological advancements in real estate continue to shape the market beyond election cycles. Therefore, making decisions based on long-term trends rather than short-term election impacts can be a prudent strategy for buyers, sellers, and investors.

Conclusion

The presidential election undoubtedly introduces elements of uncertainty and potential change in the housing market. By staying informed about proposed policies, historical trends, and the broader economic context, stakeholders can navigate these fluctuations more effectively. At Evergreen Home Loans, we are committed to providing our clients with the insights and guidance needed to make sound real estate decisions, regardless of the political climate. As always, we encourage you to reach out to our experts for personalized advice tailored to your unique situation.

Navigating the housing market during an election year can be complex, but with the right information and support, you can make informed choices that align with your long-term goals.

1. Create a Realistic Budget

Creating a detailed budget is the first step towards saving for your first home. Start by assessing your current income and expenses. Track your spending habits to identify areas where you can cut back. Use budgeting apps or spreadsheets to keep everything organized.

2. Set a Savings Goal

Determine how much you need for a down payment and other associated costs like closing fees, moving expenses, and home maintenance. Typically, a down payment ranges from 3% to 20% of the home's purchase price. Setting a clear savings goal helps you stay motivated and focused.

3. Open a Dedicated Savings Account

Open a separate savings account specifically for your home-buying fund. This not only helps you keep track of your progress but also reduces the temptation to dip into these funds for other expenses. Look for high-yield savings accounts to maximize your savings.

4. Automate Your Savings

Set up automatic transfers from your checking account to your dedicated savings account. Automating your savings ensures consistency and helps you reach your goal faster. Consider aligning these transfers with your payday to make saving effortless.

5. Reduce Debt

Reducing your debt not only improves your credit score but also frees up more money to put towards your home savings. Focus on paying off high-interest debt first, such as credit card balances. This strategy will save you money on interest payments and boost your savings potential.

6. Cut Unnecessary Expenses

Examine your monthly expenses and identify areas where you can cut back. This might include dining out less, canceling unused subscriptions, or shopping for discounts. Redirect the money saved towards your home-buying fund.

7. Increase Your Income

Consider taking on a part-time job, freelancing, or finding side gigs to increase your income. The additional earnings can significantly boost your home savings and help you reach your goal sooner.

8. Take Advantage of First-Time Home Buyer Programs

Research and take advantage of first-time home buyer programs offered by federal, state, and local governments. These programs often provide grants, loans, and tax incentives that can make buying your first home more affordable.

9. Save Windfalls and Bonuses

Whenever you receive unexpected money, such as tax refunds, bonuses, or gifts, consider putting a significant portion of it into your home-buying fund. These windfalls can accelerate your savings progress.

10. Monitor Your Progress and Adjust

Regularly review your savings plan and adjust as necessary. Life circumstances and financial goals can change, so it's important to stay flexible and keep your savings strategy aligned with your objectives.

Saving for your first home requires dedication, planning, and smart financial management. By implementing these saving strategies, you can move closer to achieving your dream of homeownership. At Evergreen Home Loans, we are committed to helping first-time home buyers navigate the journey to their new home. Connect with your local Evergreen Loan Officer for a free first-time homebuyer consultation.

1. The Perfect Spot

Identify a serene spot in your home, away from the hustle and bustle of daily life. It doesn’t have to be a separate room—sometimes, a quiet corner of the living room or kitchen works wonders. The key is to find a space where your child can focus without frequent interruptions.

2. Ergonomics Matter

Invest in a comfortable, adjustable chair and a spacious desk. Your child will spend considerable time here, so ergonomics are crucial. A well-supported back and a desk at the right height can prevent fatigue and enhance concentration. Think of it as an investment in their well-being and academic performance.

3. Organized Bliss

Clutter is the enemy of focus. Equip the study area with organizers, shelves, and bins to keep supplies within easy reach. A clean, organized space can help your child maintain concentration and make study time more efficient and enjoyable.

4. Light It Right

Lighting can make or break a study space. Natural light is ideal, so place the desk near a window if possible. Complement natural light with a high-quality desk lamp that provides bright, focused illumination without causing glare. A well-lit space can boost mood and productivity.

5. Tech-Savvy

In today’s digital age, having the right technology at hand is essential. Ensure the study space includes a reliable computer or tablet and a stable internet connection. Incorporate tech accessories like a good-quality printer and noise-canceling headphones to create a streamlined study environment.

6. Personal Touches

A study space should be inviting and reflect your child’s personality. Encourage them to decorate with their favorite colors, inspirational quotes, and artwork. Personalizing their nook can make study time something to look forward to.

7. Break It Up

Studying non-stop isn’t productive. Create a mini break zone with a comfy chair or beanbag where your child can relax, read a book, or simply take a breather. Short, regular breaks can recharge their minds and improve overall focus.

8. Routine Rules

Establish a consistent study routine to help your child get the most out of their study space. Designate specific times for homework and study, and stick to them. A regular schedule can build discipline and make study sessions more predictable and less stressful.

9. Get Them Involved

Let your child have a say in setting up their study area. Their involvement can foster a sense of ownership and pride in their space, making them more inclined to use it. From choosing the desk location to selecting decorations, their input is invaluable.

Creating a productive, personalized study space can significantly enhance your child’s academic journey. It’s not just about the physical setup—it’s about creating an environment that fosters learning, creativity, and growth. At Evergreen Home Loans, we’re committed to helping you make the most of your home, ensuring it’s a place where your family can thrive.

What is a Market Correction?

Danielle Hale, Chief Economist at Realtor.com, clarifies:

“In stock market terms, a correction generally refers to a 10 to 20% drop in prices. We don't have the same established definitions in the housing market.”

In today’s housing market, a correction doesn’t mean prices will plummet. Instead, it means that prices, which have been rapidly increasing over the last few years, are starting to stabilize and grow at a slower pace. While prices can vary significantly by local market, a significant national decline isn't on the horizon.

The Real Estate Market is Stabilizing

Between 2020 and 2022, home prices surged due to high demand, low interest rates, and a limited supply of homes. However, this rapid growth was unsustainable. Today, we’re seeing a slowdown in price growth, indicating that the market is beginning to stabilize.

The latest data from Case-Shiller shows that while prices were flat for a few months last year, they are now rising again at a national level, albeit more slowly (see graph below):

A Healthier Pace of Growth

So far this year, we’ve observed a much healthier pace of price growth compared to the pandemic years. This normalization is good news for the market and for prospective homebuyers. But what does the future hold for home prices? Marco Santarelli, Founder of Norada Real Estate Investments, explains:

“Expert forecasts lean towards a moderation in home price growth over the next five years. This translates to a slower and more sustainable pace of appreciation compared to the breakneck speed witnessed in recent years, rather than a freefall in prices.”

It's all about supply and demand. With increasing inventory and limited buyer demand due to relatively high mortgage rates, some of the upward pressure on prices will ease.

What This Means for You

If you’re considering buying a home, the slowing price growth is encouraging news. The rapid price increases during the pandemic left many potential buyers feeling priced out. While it’s reassuring to know that the value of your home will likely continue to appreciate, slower price gains make homeownership more accessible. Odeta Kushi, Deputy Chief Economist at First American, notes:

“While housing affordability is low for potential first-time home buyers, slowing price appreciation and lower mortgage rates could help — so the dream of homeownership isn't boarded up just yet.”

At the national level, home prices aren’t dropping. Most experts forecast continued moderate growth. However, local markets can vary significantly. That’s why it’s crucial to have a trusted loan officer by your side. If you have questions about what’s happening with prices in our area, don’t hesitate to reach out to your local Evergreen Lender. We’re here to help you navigate the market with confidence.

Source: Keeping Current Matters

The Best Workplaces in Financial Services & Insurance list, curated by Great Place To Work® and Fortune, is based on comprehensive employee feedback. This year, over 194,000 employees from Great Place To Work Certified™ companies in our industry contributed their thoughts, making this honor even more meaningful.

Haavard Sterri, our Chief Marketing Officer, summed up the sentiment perfectly:

“We are incredibly honored to be recognized once again by Fortune and Great Place To Work. Our people are the heart of our success, and this recognition is a testament to the collaborative, supportive culture we’ve worked hard to build. At Evergreen, we are committed to fostering an environment where our team can thrive, grow, and feel valued every day. This award motivates us to continue putting our employees first, knowing that when they succeed, our clients and communities do too.”

A Workplace Culture Built on Trust

Being named to this list isn’t just about hitting business metrics — it’s about building trust with our team members. The Best Workplaces in Financial Services & Insurance list uses the For All™ Methodology, ensuring that organizations that make the list excel at offering positive outcomes for employees from all walks of life, no matter their job role, background, or identity.

Michael C. Bush, CEO of Great Place To Work, highlights the value of these efforts:

“Congratulations to the Best Workplaces in Financial Services & Insurance. These companies not only outperform the average for their industry but have created workplaces that outshine the average in every category, proving the importance of building trust with workers, no matter the industry.”

Why Evergreen?

Since our founding in 1987, Evergreen Home Loans has been more than just a real estate finance company. We have grown into a community where employees and clients feel valued. Our mission — changing the world one relationship at a time — is at the heart of everything we do.

We take pride in creating a workplace where everyone can contribute, grow, and make a difference. This recognition from Fortune and Great Place To Work validates our efforts and pushes us to continue cultivating a culture of collaboration, support, and success.

Why Fall is a Great Time to Buy a Home or Refinance Your Mortgage

1. Lower Mortgage Interest Rates

The housing market has seen high mortgage rates throughout the year, but things are starting to shift. Recent economic factors, including a recent Federal Reserve rate cut, have set the stage for lower mortgage rates. These declining rates mean more affordable monthly payments for homeowners looking to refinance and buyers ready to make a purchase.

As Lisa Sturtevant, Chief Economist at Bright MLS, notes:

“A drop in the cost of borrowing will help fuel more homebuyer demand . . . Falling rates will also bring more sellers into the market.”

If you’ve been waiting for the right time to buy a home or refinance your mortgage, now is the time to take action.

1. Increased Buyer Demand and Seller Motivation

As mortgage rates fall, buyer demand naturally increases. According to the Mortgage Bankers Association (MBA), the number of mortgage applications is rising as buyers re-enter the market. Additionally, the National Association of Realtors (NAR) reported a boost in home sales in July after months of decline. This uptick is encouraging news whether you're a buyer or thinking about selling and buying a new home.

More buyers mean more competition, which can lead to higher offers for sellers. This creates the perfect opportunity for homeowners ready to list their properties. According to Edward Seiler, AVP of Housing Economics at MBA:

“MBA is expecting that slower home-price appreciation, coupled with lower rates, will ease affordability constraints and lead to increased activity in the housing market.”

If you’ve been hesitant to list your house because you’re worried about a lack of buyers, this increase in demand signals that it might be time to talk to a real estate agent.

1. End-of-Year Financial Planning

Fall is a perfect time for financial planning. Refinancing your mortgage before the holidays can lower your monthly payments, free up cash for other expenses, or even allow you to consolidate debt. If you’re considering purchasing a new home, locking in a lower interest rate now can help you save thousands over the life of your loan.

1. Potential for Faster Closings

With the summer rush over, fall tends to be a quieter time in the real estate market. This can mean faster closings and fewer delays, making it an excellent time to either buy or refinance.

Buying or Refinancing Options This Fall

At Evergreen Home Loans, we offer a range of refinancing and homebuying solutions to meet your unique needs. Here are some options to consider:

• For Homebuyers: Get Pre-Approved for a Mortgage

If you’re in the market for a new home, getting pre-approved for a mortgage is an essential first step. It not only helps you understand your budget, but also gives you a competitive edge, making your offer more attractive to sellers. With Evergreen's Security Plus program, we take this a step further by doing all the work up-front to provide a guaranteed financing commitment with minimal conditions.

Because we're confident in our program, we even guarantee the loan commitment or we’ll pay the seller $5,000*. This added assurance strengthens your offer, making it easier for sellers to say YES. The result? A faster closing process and an offer that sellers trust.

• For Homeowners: Explore Rate-and-Term or Cash-Out Refinancing
• Rate-and-Term Refinance: Lower your interest rate or change the length of your loan term to reduce your monthly payments or pay off your mortgage faster.
• Cash-Out Refinance: Borrow against your home’s equity to access funds for home renovations, debt consolidation, or other major expenses.

Preparing for a Fall Purchase or Refinance

Whether you’re buying or refinancing, here are a few steps to ensure a smooth process:

• Check Your Credit: A higher credit score can help you secure a better mortgage interest rate. Review your credit report and resolve any issues before applying for a mortgage or refinance.
• Determine Your Financial Goals: Are you looking to reduce your monthly payment, shorten your loan term, or access extra cash for a big project? Knowing your goals will help you choose the right option.
• Review Your Budget: Take a close look at your finances to ensure you’re prepared for the next step, whether it’s buying a home or refinancing your mortgage.

Get Started on Your Homebuying or Refinancing Journey Today

The recent decline in mortgage rates is already encouraging more buyers to enter the market, and experts predict this trend will continue. Whether you’re ready to buy your dream home or refinance your current mortgage, Evergreen Home Loans can help you take advantage of the savings and opportunities this fall brings.

Contact your local Loan Officer today to explore your options and start saving on your mortgage this season!

But like many others, you might have been holding off because of recent market conditions. It's understandable—when you're considering a move that could increase your monthly housing costs, affordability plays a major role. However, there's good news: now is actually a great time to take that step forward. Here's why:

You’ve Likely Built Significant Equity in Your Home

One of the biggest advantages in today’s market is the equity you've likely built up over the years. Even with recent changes in the housing market, home prices have consistently grown, leading to higher equity for many homeowners. As CoreLogic’s Chief Economist, Selma Hepp, notes:

"Persistent home price growth has continued to fuel home equity gains for existing homeowners who now average about $315,000 in equity and almost $129,000 more than at the onset of the pandemic."

If you've been in your home for a few years, you’re probably sitting on substantial equity. You can use this toward the down payment on your next home, helping keep your borrowing within a comfortable range and making your upgrade more affordable.

Lower Mortgage Rates Can Increase Your Buying Power

Another key reason to consider upgrading now is that mortgage rates have recently fallen, giving you more purchasing power. Lower rates mean lower monthly payments and more flexibility when it comes to finding the home that fits your needs. Nadia Evangelou, Senior Economist at the National Association of Realtors (NAR), explains:

“When mortgage rates fall, the interest portion of monthly payments decreases, which lowers the total payment. This makes it easier for more borrowers to . . . qualify for mortgages that may have been unaffordable at higher rates.”

A trusted Evergreen Home Loan Officer can help you explore your options and create a plan that works for your budget.

StepUp with Evergreen

If you're ready to sell your current home and upgrade to a larger, more comfortable space, now’s the perfect time. Your built-up equity, combined with lower mortgage rates, gives you an excellent opportunity to make that move. On top of these opportunities, Evergreen Home Loans has a program to magnify the benefits of upgrading now. With StepUp, you can purchase your next home before selling your current one, giving you control over your move and eliminating the pressure of contingent offers. With Evergreen’s StepUp, you can confidently take the next step toward your dream home!

Let Evergreen Home Loans guide you through the process, so you can make the most of today’s market. Connect with us today to get started!

Source: Keeping Current Matters

At Evergreen Home Loans™, we're deeply committed to enhancing the well-being of our communities—not just by helping clients acquire their dream homes, but also through our robust initiative, the Evergreen Cares Foundation, which focuses on fulfilling the basic needs of the less fortunate.

In 2024, the need remains urgent, with nearly 1 in 10 Washington residents and 1 in 6 children facing hunger. Recognizing this, we're honored to continue our tradition as the title sponsor and underwriter of "Rock the Harvest" for the fifth consecutive year, supporting Northwest Harvest’s pivotal mission.

"Rock the Harvest" is a vital annual event for Northwest Harvest, featuring a radiothon and online auction facilitated by Seattle’s KZOK. The entire 12-hour event’s proceeds go toward supporting Northwest Harvest in diminishing hunger disparities and ensuring nutritious food is accessible to everyone in Washington facing hardship.

We invite you to learn more about the incredible work of Northwest Harvest or to support their mission at Northwest Harvest’s website.

The good news? The latest data shows no sign of a foreclosure wave.

How Today’s Market Differs from 2008

To ease any concerns, it’s essential to understand how today’s market is fundamentally different from the 2008 housing crash. Recent data from ATTOM, a leading property data provider, shows that foreclosure filings remain low, especially when compared to the peak levels during the 2008 crisis. Back then, a significant number of foreclosures flooded the market, impacting prices. In contrast, today’s foreclosure numbers are notably lower and have even declined slightly in recent reports.

So why are foreclosure numbers higher now than in 2020 or 2021? The explanation lies in the mortgage moratoriums of those years, which helped millions of homeowners navigate financial challenges. As a result, foreclosure filings during that period were exceptionally low. Looking back at a broader timeline, however, foreclosure filings are significantly down overall.

Why Foreclosures Remain Low Despite Rising Costs

Despite the higher cost of living, foreclosure rates remain stable, largely due to one key factor: homeowner equity. Homeowners today have much more equity built up in their homes than in 2008. According to a recent Bankrate article:

“In the years after the housing crash, millions of foreclosures flooded the housing market, depressing prices. That’s not the case now. Most homeowners have a comfortable equity cushion in their homes.”

This equity serves as a financial safety net, allowing homeowners facing financial difficulties to potentially sell their homes rather than going into foreclosure. During the 2008 crash, many homeowners owed more than their homes were worth, leaving them with few options. Today’s market provides homeowners with more flexibility and protection.

Looking Ahead at the Housing Market

It’s true that today’s higher costs are a challenge, but they don’t necessarily signal a surge in foreclosures. The equity cushion many homeowners have built up over the years continues to keep foreclosure filings low and provides more options for those facing financial strain.

While everyday costs have increased, the housing market remains resilient. Current data shows no impending foreclosure crisis, with today’s homeowners in a much stronger financial position than in 2008. Thanks to increased equity and a robust housing market, homeowners have more options and security than ever. If you’re ready to start your homebuying journey or see what your equity can do for you, get in touch with your local Evergreen lender today for a free consultation!

At Evergreen Home Loans, we’re committed to helping you navigate today’s market confidently, ensuring you have the support needed to achieve your homeownership goals.

What Are Down Payment Assistance Programs?

Down Payment Assistance programs are initiatives designed to provide financial aid to homebuyers who need help covering their down payment or closing costs. These programs often target first-time homebuyers, but many are open to repeat buyers as well. They can be funded by government agencies, nonprofit organizations, or private lenders.

Types of Down Payment Assistance

DPA programs come in various forms, allowing buyers to choose an option that fits their needs:

1. Grants: These are essentially gifts—funds you don’t have to pay back.
2. Second Mortgages: Low-interest loans that are repaid monthly, alongside your primary mortgage.
3. Deferred Payment Loans: Loans that don’t require repayment until you sell, refinance, or pay off your primary mortgage.
4. Forgivable Loans: Loans that are forgiven if you meet certain conditions, such as staying in your home for a specific period.

Who Qualifies for Down Payment Assistance?

Eligibility varies by program, but here are some common factors considered:

• Income Limits: Many programs have income caps to ensure they help those with the greatest need.
• Credit Score Requirements: While you don’t need perfect credit, most programs have a minimum score requirement.
• First-Time Homebuyer Status: Some programs are exclusively for first-time buyers, but others are available to all buyers.
• Property Location: Certain programs are targeted at specific areas to boost homeownership in those communities.

Benefits of Using Down Payment Assistance

1. Lower Upfront Costs: Reducing or eliminating the need for a large down payment makes it easier to buy a home.
2. Increased Buying Power: Assistance can allow you to afford a better home or enter the market sooner.
3. Preservation of Savings: You can keep your savings intact for future emergencies or other needs.

Evergreen Home Loans and Down Payment Assistance

At Evergreen, we specialize in helping buyers navigate the complexities of home financing, including finding and applying for DPA programs. Our experienced loan officers are here to guide you through the process and help determine your eligibility for these valuable resources.

We also offer a variety of innovative loan products that complement DPA programs, ensuring that your path to homeownership is as smooth as possible.

Take the Next Step

If saving for a down payment feels overwhelming, Down Payment Assistance programs could be the key to unlocking your dream of homeownership. Contact Evergreen Home Loans today to learn how we can help you find the right program and loan solution for your needs.

Ready to get started? Reach out to your local Evergreen Loan Officer.

Your dream home is closer than you think—let us help you take the first step!

What is the Security Plus Seller Guarantee®?

The Security Plus Seller Guarantee® is a program that provides a fully underwritten loan commitment upfront, allowing you to shop for a home with confidence. Unlike standard prequalification or preapproval letters, this program offers a guaranteed financing commitment with minimal conditions. If Evergreen is unable to provide financing after issuing this commitment, they will pay the seller $10,000.*

Benefits of the Program

• Guaranteed Buying Power: With a fully underwritten loan amount, you can make offers knowing your financing is secure, giving you an edge over other buyers.
• Faster Closings: By completing the underwriting process upfront, the program streamlines the closing process, reducing surprises and delays.
• Increased Seller Confidence: The $10,000 guarantee to the seller if financing falls through makes your offer more attractive, potentially tipping the scales in your favor during a competitive bidding situation.

How Does It Work?

1. Connect with an Evergreen Loan Officer: Begin by reaching out to an Evergreen loan officer to become a Security Plus approved homebuyer.
2. Shop with Confidence: Armed with a fully underwritten loan commitment, you can make strong offers on homes, knowing your financing is secure.
3. Close Faster: The upfront underwriting allows for a quicker, more efficient closing process with fewer conditions.

Celebrating 35 Years of Success

Evergreen Home Loans is celebrating 35 years of the Security Plus Seller Guarantee®, a testament to its effectiveness in revolutionizing the home buying experience by providing assurance to both buyers and sellers.

The Security Plus Seller Guarantee® program by Evergreen Home Loans offers a significant advantage in the home buying process, providing guaranteed financing, faster closings, and increased appeal to sellers. If you're looking to strengthen your offer and navigate the competitive real estate market with confidence, consider connecting with an Evergreen loan officer to learn more about this innovative program.

Check out this quick video of our founder sharing a poem he wrote about the Security Plus program. It’s a unique take on how we’re making homebuying more secure and stress-free—straight from the heart.

What Are Interest Rates?

At their core, interest rates are the cost of borrowing money. When you get a loan—whether it’s for a home, car, or credit card—you’re borrowing money from a lender. The interest rate is the percentage the lender charges you for borrowing that money.

Think of it like a rental fee for money!

Who Decides Interest Rates?

There are two main players when it comes to interest rates: The Federal Reserve and the market.

1. The Federal Reserve (The Fed):
   The Federal Reserve is like the nation’s central bank. It doesn’t directly set the rates you see for mortgages or car loans, but it controls something called the federal funds rate—the interest rate banks charge each other to borrow money. When the Fed adjusts the federal funds rate, it creates a ripple effect that influences other interest rates, including mortgage rates.
2. The Market:
   Mortgage rates are also influenced by the bond market, specifically a type of bond called a mortgage-backed security (MBS). Investors buy and sell these bonds, and their activity affects how much it costs for lenders to offer mortgages. When demand for these bonds goes up, rates tend to go down, and vice versa.

Why Do Interest Rates Change?

Interest rates aren’t random—they shift based on what’s happening in the economy. Here are some key factors:

1. Inflation:
   Inflation is when the cost of goods and services rises. When inflation is high, the Fed often raises interest rates to slow it down. Higher interest rates make borrowing more expensive, which can cool spending and help control inflation.
2. Economic Growth:
   A strong economy means more people are buying homes, cars, and goods. To prevent the economy from overheating, the Fed may raise rates. On the other hand, during slower economic periods, they may lower rates to encourage borrowing and spending.
3. Employment Levels:
   The Fed also keeps an eye on job growth. If employment levels are high and wages are rising quickly, they may raise rates to balance the economy.
4. Global Events:
   Things like political events, natural disasters, or financial crises can impact interest rates. Investors often look for "safe" investments during uncertain times, which can influence the bond market and, by extension, mortgage rates.

What Does This Mean for You?

Understanding how interest rates work can help you make smart financial decisions. Here’s what to keep in mind:

• Timing Your Loan:
  If rates are low, it might be a good time to lock in your rate. Even a small difference in your interest rate can save you thousands of dollars over the life of your loan.
• Long-Term Perspective:
  Don’t panic if rates rise! Historically, interest rates have gone up and down many times. If you buy when rates are higher, you might have the chance to refinance later if rates drop.
• Ask for Guidance:
  At Evergreen Home Loans, we’re here to help you understand the market and find the right loan for your needs. Our team is happy to explain how today’s rates affect your home-buying journey.

Interest rates may seem complicated, but they’re closely tied to the economy and are designed to create balance. Whether rates are rising or falling, what’s most important is finding a loan that fits your financial goals—and that’s where we come in.

Ready to explore your options? Reach out to your local Evergreen Loan Officer today to get started!

Property Taxes

Property taxes are annual fees imposed by local governments based on your home's assessed value. These taxes can vary significantly depending on your location and can increase over time due to rising property values or changes in tax rates. It's crucial to research the property tax rates in your desired area and factor them into your monthly budget.

Homeowners Insurance

Lenders require homeowners insurance to protect against damages from events like fire, theft, or natural disasters. Premiums can vary based on factors such as location, home value, and coverage level. Notably, homeowners' insurance costs have surged by 33.8% nationally from 2018 to 2023, with some states experiencing over 50% increases due to climate risks and inflated construction costs.

New York Post

It's advisable to shop around for the best rates and ensure your policy covers potential risks specific to your area.

Private Mortgage Insurance (PMI)

If your down payment is less than 20% of the home's purchase price, lenders typically require Private Mortgage Insurance. PMI protects the lender in case of default and is added to your monthly mortgage payment. Once you've built up sufficient equity, you may be able to cancel PMI, reducing your monthly expenses.

Maintenance and Repairs

Unlike renting, homeownership means you're responsible for all maintenance and repair costs. This includes routine upkeep like lawn care and unexpected repairs such as fixing a leaky roof or replacing an HVAC system. Financial experts often recommend setting aside 1% of your home's value annually for maintenance.

Investopedia

Utilities

While utilities are a common expense, moving to a larger space or a different area can lead to higher costs for electricity, water, gas, and waste services. It's beneficial to inquire about average utility costs in the neighborhood to anticipate these expenses accurately.

Homeowners Association (HOA) Fees

If your home is part of a community with a Homeowners Association, you'll likely be required to pay monthly or annual HOA fees. These fees cover communal amenities and maintenance but can range widely depending on the services provided. Ensure you understand the HOA fees and what they include before purchasing.

Closing Costs

When finalizing your home purchase, you'll encounter closing costs, which can include loan origination fees, appraisal fees, title insurance, and more. On average, closing costs can add up to 2-5% of the home's purchase price. It's essential to budget for these one-time expenses to avoid financial strain at closing.

Preparing for Hidden Costs

To effectively manage these hidden costs:

• Research Thoroughly: Understand all potential expenses associated with the home and area you're considering.
• Budget Wisely: Incorporate these costs into your monthly budget to ensure affordability.
• Build an Emergency Fund: Set aside funds specifically for unexpected repairs or increases in expenses.

By acknowledging and planning for these hidden costs, you can enjoy the benefits of homeownership with greater financial confidence.

Here’s what you need to know to decide if this is the right move for you.

What Is a Fixer-Upper?

A fixer-upper is a home that’s livable but requires some level of renovation. This could range from simple cosmetic updates, like fresh paint and new flooring, to more significant repairs, such as a roof replacement or plumbing upgrades.

While these homes require some TLC, they also come with key advantages that make them worth considering:

• Lower Purchase Price – Because of the repairs involved, fixer-uppers are often priced lower than move-in-ready homes. In fact, according to a survey from StorageCafe, they can be about 29% less expensive, making them an attractive option for buyers on a budget.
• Less Competition – Many buyers prefer move-in-ready homes, meaning there’s often less competition when making an offer on a fixer-upper.
• Potential for Equity Growth – With strategic renovations, you can increase your home’s value and build equity faster, all while customizing the space to fit your needs and style.

As The Mortgage Reports explains:

“If you’re a house hunter who’s not afraid of sweat equity, buying a fixer-upper could be your ticket to homeownership. Doing so could lead to big savings, even in some of the nation’s largest and most popular housing markets. Plus, adding the right features could help your investment.”

What To Consider Before Buying a Fixer-Upper

The opportunity to transform a home is exciting, but it’s important to be prepared. Here are some key factors to keep in mind:

• Have a Plan – Do you have the time, budget, and skills to handle renovations? Be honest about what you can DIY versus what you’ll need to hire out.
• Prioritize Repairs – Not everything needs to be done at once. Focus on essential upgrades first and plan additional improvements over time.
• Location Matters – Ensure the home is in a desirable area with strong property values and local amenities that will support your investment.
• Get a Home Inspection – A professional inspection will help you understand the scope of repairs needed and avoid unexpected surprises.
• Budget for the Unexpected – Renovations often come with surprises. Be sure to set aside extra funds for unexpected costs, whether it’s delays, material price increases, or hidden issues.
• Explore Financing Options – There are mortgage programs designed for homes that need renovation, but they come with specific requirements. Talking to a trusted lender can help you find the right financing solution for your situation.

Fixer-uppers aren’t for everyone, but if you’re open to taking on a project, they can be a smart way to enter the housing market and create a home that truly fits your vision.

At Evergreen Home Loans, we’re here to help you explore all your options and find the right financing solution for your needs. If you’re considering a fixer-upper, contact your local loan officer and discuss how they can support your homeownership journey.

SOURCE: Keeping Current Matters

But here’s the truth: investor purchases are actually on the decline, and big players aren’t nearly as active as you might think. Let’s break down the facts and help you see the real opportunities in today’s housing market.

Most Investors Are Small, Not Large Institutions One of the biggest misconceptions is that massive institutional investors dominate the market. But that’s not the case. The Mortgage Reports explains:

“On average, small investors account for around 18% of the market, while mega investors represent only about 1%.”

That means most real estate investors are everyday people—your neighbors, local landlords, or families with a second home. They’re not large corporations buying up entire neighborhoods, as the headlines may suggest.

Investor Home Purchases Are Dropping While there are still investors in the market, even the bigger ones have slowed down. According to John Burns Research and Consulting (JBREC), at their all-time peak in Q2 2022, institutional investors—those owning 1,000+ single-family homes—made up only 2.4% of home sales. By Q3 2024, that number had dropped to just 0.3%.

This decline shows that fewer investors are competing for homes now than in previous years, creating more opportunities for buyers like you.

Why Are Investors Pulling Back? Higher mortgage rates and rising home prices have made it less attractive for investors to buy right now. This shift means you may have more negotiating power and less competition when searching for a home.

The idea that Wall Street investors are buying up all the homes and leaving none for everyday buyers is a myth. While some investors are still in the market, they’re purchasing far fewer homes than in the past.

If you’ve been holding off on buying because of investor competition, it may be time to rethink your strategy. Contact your local Evergreen loan officer and explore your homeownership options. With the right mortgage strategy and a trusted lending partner like Evergreen Home Loans, you may have more opportunities than you think!

If you’ve been holding off on buying a home due to high mortgage rates, it might be time to take another look at the market. Mortgage rates have been trending down recently, creating a new opportunity for buyers looking to make their move.

According to data from Freddie Mac, mortgage rates have declined for seven straight weeks, reaching their lowest point so far this year. While it may not seem like a drastic change, even a small drop in rates can significantly impact your purchasing power.

Why Are Mortgage Rates Declining?

Joel Kan, VP and Deputy Chief Economist at the Mortgage Bankers Association (MBA), explains that recent economic uncertainty has played a role in bringing rates down:

"Mortgage rates declined last week on souring consumer sentiment regarding the economy and increasing uncertainty over the impact of new tariffs levied on imported goods into the U.S. Those factors resulted in the largest weekly decline in the 30-year fixed rate since November 2024."

With spring homebuying season approaching, this dip in rates comes at an opportune time. However, mortgage rates can fluctuate quickly, meaning the current window may not last long.

What Lower Rates Mean for You

Even a small change in rates can impact your monthly mortgage payment. Consider this: if you were to take out a $400,000 loan, your payment at the peak rate of 7.04% in mid-January would have been significantly higher than what it would be at today’s lower rates. A decline to the mid-6% range can mean over $100 in monthly savings—money that could go toward home upgrades, savings, or everyday expenses.

Should You Wait or Act Now?

While many potential buyers are waiting for rates to drop even further, history has shown that market conditions can change unexpectedly. The recent rate drop happened faster than anticipated, but future fluctuations could bring rates back up. If you’re serious about buying a home, now could be the right time to take advantage of lower rates before they shift again.

Bottom Line

If a lower monthly payment makes homeownership feel more achievable, now is the time to explore your options. At Evergreen Home Loans, we’re here to help you navigate the mortgage process and find a solution that fits your needs.

Let’s break down the numbers together and see what’s possible for you in today’s market. Contact your local Evergreen Home Loans loan officer to get started!

Source: Keeping Current Matters

At Evergreen Home Loans™, we believe informed decisions lead to confident choices. So let’s take a look at what history tells us about how recessions typically impact housing.

A Recession Doesn’t Always Mean Falling Home Prices

It’s easy to assume that a recession automatically leads to lower home prices—especially if you think back to 2008. But the housing crash during the Great Recession was the exception, not the norm.

According to data from CoreLogic, home prices increased during four of the last six recessions. In most cases, the housing market continued on its current path, and home values didn’t see dramatic declines.

So what does that mean for you? If you’re considering buying or selling a home, don’t let recession fears hold you back. Historically, home prices tend to remain steady or even rise during economic slowdowns—especially in markets with strong demand and limited inventory.

Mortgage Rates Usually Decline During Recessions

One trend that tends to repeat itself during recessions is lower mortgage rates. Over the past six economic downturns, interest rates dropped every single time.

Lower rates can be a silver lining in uncertain times—making home loans more affordable and increasing your purchasing power. That said, today’s market conditions are unique, and we don’t expect to see rates fall back to the 3% range. But even modest rate drops can make a meaningful difference in your monthly payment.

No one can say for certain if or when a recession will occur, but historical data offers helpful insight. The bottom line? A recession doesn’t automatically mean home prices will crash—and it may actually create an opportunity to lock in a lower mortgage rate.

At Evergreen Home Loans, we’re here to help you navigate the market with confidence. If you’re feeling unsure about what a potential recession means for your homebuying or selling plans, let’s talk.

Connect with your Evergreen Loan Officer today to get the answers you need and explore your options.

Source:KCM

If you’re serious about landing a home you’ll love, you need more than just a wish list. You need a smart strategy—and it starts with teaming up with a great agent and a trusted lender who can help you present the strongest offer possible.

At Evergreen Home Loans®, we do more than provide financing. We offer tools and programs that help buyers like you stand out in competitive markets. Here are four ways to give your offer an edge this spring:

1. Don’t Lowball on Price

It’s tempting to start low, but in a competitive spring market, that strategy can hurt more than help. Sellers are often receiving multiple offers, and a lowball bid could be rejected outright.

Your real estate agent can help you understand local pricing trends—and your Evergreen loan officer can work with you on a preapproval that gives you clarity and confidence on your buying power.

💡 Evergreen Tip: Pair your strong offer with a Security Plus Seller Guarantee—a program that gives the seller added peace of mind by guaranteeing that if your loan doesn’t close, Evergreen will pay the seller $5,000.*

2. Consider an Escalation Clause

If you’re expecting multiple offers on a home, an escalation clause can help your offer stay competitive without immediately bidding too high. It automatically increases your offer by a preset amount if another bid comes in—up to a limit you choose.

Just make sure the home is likely to appraise for that amount and that it fits comfortably within your budget.

💡 Evergreen Tip: Our Upfront Preapproval helps show sellers you’re serious. It’s more than a prequalification—it’s a full credit approval that strengthens your offer and shows you’re ready to move quickly.

3. Be Strategic With Concessions

Asking for too many concessions—like repair credits or seller-paid closing costs—can make your offer less appealing than others. A cleaner offer is often a stronger one.

Your agent can help you evaluate what’s standard in your market and guide you toward a competitive, well-balanced offer.

💡 Evergreen Tip: Ask about our Lock & Shop program. You can lock in your rate before you even find your home, giving you one less thing to negotiate when it’s go time.

4. Align Your Offer With the Seller’s Timeline

Price isn’t the only factor that matters. Flexibility on timing—such as allowing extra time for the seller to move out—can make your offer more attractive.

Talk with your agent about how to tailor your timeline to the seller’s needs. If you’re already preapproved, you may be able to offer a faster close date, which is a major plus.

💡 Evergreen Tip: With Evergreen’s On Time and As Promised® guarantee, sellers know we’re committed to closing on schedule. That reliability can make your offer stand out.

Spring brings more competition—but also more opportunity. When you pair a great agent with Evergreen Home Loans®, you’ll be backed by the tools, support, and programs you need to stand out from the crowd.

Let’s build a strategy that gets you home. Reach out to your Evergreen loan officer today.

Source: KCM

What Is Home Equity?

Home equity is the difference between your home’s current market value and what you still owe on your mortgage. If your home is worth $500,000 and you owe $200,000, your equity is $300,000. That’s real money—real opportunity—just sitting there.

According to Cotality (formerly CoreLogic), the average U.S. homeowner with a mortgage has roughly $311,000 in equity. That's a big number, and chances are, your home’s value has quietly grown while you’ve been living your life.

Why You May Have More Equity Than You Think

Here are two big reasons homeowners like you may be sitting on more equity than expected:

1. Home Prices Have Risen Sharply.
   Over the past five years, home prices have increased more than 57% nationwide, according to the Federal Housing Finance Agency (FHFA). If you purchased your home a few years ago, it’s likely worth far more today—especially in many of the markets Evergreen serves.

2. Homeowners Are Staying Put Longer.
   The National Association of Realtors (NAR) says the average homeowner now stays in their home for about 10 years. That means a decade of mortgage payments plus a decade of appreciation—equity has been building in the background the whole time.

In fact, NAR reports that over the past 10 years, the typical homeowner has gained over $200,000 in wealth just from price appreciation.

What Can You Do with That Equity?

This is where it gets exciting. At Evergreen, we help homeowners like you turn equity into opportunity every day:

• Buy your next home with confidence. Your equity could help fund your down payment or, in some cases, allow you to make a cash offer with programs like CashUp™ or buy before you sell with StepUp™.
• Renovate your current home. Need more space? Want to upgrade your kitchen or build a backyard oasis? A cash-out refinance could turn your equity into the funds to do it right.
• Start that business you’ve been dreaming of. With smart planning, your equity can help you invest in your future earning potential.

Let’s Explore Your Equity Potential

Whether you're planning a move, exploring upgrades, or just want to understand your options, we’re here to help. Our team at Evergreen Home Loans® is happy to review your current situation and walk you through what’s possible.

Your home might be worth more than you think—and that value can unlock real possibilities.

Let’s talk. Reach out to your local Evergreen Loan Officer to get started.

Source: KCM

Let’s break it down.

Do You Really Need 20% Down?

Unless a specific loan program or situation requires it, most buyers don’t need to put 20% down. In fact, there are several financing options designed to help first-time homebuyers get into a home with much less.

At Evergreen, we offer loan programs like:

• FHA loans with as little as 3.5% down
• VA and USDA loans with zero down for qualified borrowers
• Conventional loans that may offer down payments as low as 3%

While a larger down payment can reduce your monthly payment and avoid mortgage insurance, it’s far from the only path to homeownership.

According to the National Association of Realtors®, the typical first-time homebuyer puts down just 9%. That’s a big difference from the 20% many people assume they need.

Don’t Overlook Down Payment Assistance (DPA) Programs

Here's where things get even more exciting: many first-time buyers qualify for down payment assistance but never tap into it. In fact, nearly 80% of buyers qualify, yet only 13% actually use these resources.

That’s a lot of missed opportunity.

The average DPA benefit? Around $17,000—a serious boost toward your down payment and upfront homebuying costs.

At Evergreen, we help you explore these programs and even look at options to stack multiple assistance programs if you qualify. That way, your savings can stretch even further.

The Evergreen Advantage

Saving up doesn’t have to slow you down. With loan options that work for real budgets and programs to support your goals, our team is here to help you move forward with confidence.

You may not need to save as much as you thought to buy a home. Let’s talk about your options, explore down payment assistance, and build a plan that gets you into a home sooner—not someday.

At Evergreen Home Loans™, we help make building your own home a reality-and often, a financially savvy one.

The Financial Benefits of Building

1. More Home for Your Money
   In many areas, building can actually cost less per square foot than buying an existing home-especially when factoring in renovation costs to get it “just right.” With new construction, your money goes directly into features and layouts that fit your life, not into fixing someone else’s design choices.
2. Avoid Costly Bidding Wars
   Today’s competitive housing market often leads to buyers paying over asking price. Building your home can eliminate that pressure. You set your budget, your design, and your timeline.
3. Lower Ongoing Costs
   New builds typically mean:

• Higher energy efficiency
• Fewer immediate repairs or maintenance needs
• Lower homeowners insurance premiums due to updated systems and materials

All of that can lead to lower monthly costs-plus peace of mind.

4. Long-Term Value
   A brand-new home is move-in ready, up to code, and built with modern resale value in mind. When it comes time to sell (even years down the road), homes with newer systems and desirable layouts tend to sell faster-and often for more.

How Evergreen Helps You Build With Confidence

Our in-house Construction Lending team is your trusted partner from the first draft to the final walkthrough. With Evergreen, you get:

• One-time close construction loans – roll land, building, and permanent financing into a single loan
• Dedicated construction specialists – supporting you every step of the way
• Flexible financing options – including help with builder and contractor approvals
• In-house draw management – we keep your project moving on time and within budget

Whether you already have land or you're just beginning to explore the idea, our team can walk you through the process and the possibilities.

Ready to Build?

If you're struggling to find the right home in today’s market, maybe it's time to build it. It could be the most strategic move-financially and personally-you’ll ever make.

Let’s talk. Reach out to your local Evergreen loan officer today.

Evergreen Home Loans. Built around you.
Smile. You’re home.

You’re not alone. A recent survey by John Burns Research and Consulting and Keeping Current Matters shows 68% of people are delaying plans to buy or sell because of economic concerns. But not everyone is waiting because they’re worried. Many are holding off because they’re hopeful—hopeful that a recession might lead to better affordability and lower mortgage rates.

And they might be right about that part. During past economic slowdowns, mortgage rates have historically dipped, giving buyers a chance to lock in a lower payment. This could create opportunities, especially for those with limited down payments or tight budgets.

But What About Home Prices?

Here’s where many people’s assumptions go off track: the idea that a recession = lower home prices. That’s simply not what history shows.

According to data from Cotality (formerly CoreLogic), home prices actually rose in four of the last six U.S. recessions. The only sharp decline happened during the 2008 housing crash—an outlier driven by risky lending practices that no longer exist. Today, tight inventory continues to support home values, even in a shifting market.

As Navy Federal Credit Union’s Corporate Economist Robert Frick puts it:
“Hopes that an economic slowdown will depress housing prices are wishful thinking at this point.”

So if you’re sitting on the sidelines waiting for the perfect market, you may be waiting for a scenario that’s unlikely to arrive.

Why Buyers and Sellers Are Still Making Moves

At Evergreen Home Loans™, we understand how market conditions and personal circumstances collide. That’s why we offer solutions designed to create confidence, whether you're buying your first home, moving up, or navigating a competitive market.

Here’s how we help you move forward smartly:

• StepUp™: Buy before you sell—so you can move on your timeline, not the market’s. Our StepUp program helps you secure your next home before selling your current one.
• CashUp™: Compete like a cash buyer. We convert your financing into a cash-like offer to help you win in competitive bidding situations.
• Security Plus Seller Guarantee: For buyers working with sellers who want certainty, this program guarantees up to $5,000 to the seller if your loan doesn’t close as promised.*
• On Time and As Promised®: It’s more than a slogan, it’s our commitment. We work hard to ensure your loan closes smoothly, on time, and with no surprises.
• Local, Personalized Support: You won’t find a call center here. Evergreen Loan Officers are real people, in your community, who are committed to helping you succeed.

It’s tempting to wait for the “perfect” market. But real estate isn’t one-size-fits-all, and trying to time the market often means missing out.

If mortgage rates drop during a slowdown—but home prices remain steady or even rise—you could still end up paying more by waiting. And if rates don’t drop as expected, the opportunity cost grows even bigger.

Let’s talk about your goals, your finances, and your timing. We’ll help you create a plan that works, no matter what the headlines say.

Connect with your Evergreen Loan Officer today and take the next step toward homeownership with clarity and confidence.

Yes, some local markets are seeing prices level out or dip slightly as more homes become available. That’s normal in a shifting market. But nationally, the outlook is steady and strong. Over 100 top housing experts surveyed in the latest Home Price Expectations Survey (HPES) from Fannie Mae project continued price growth over the next five years—just at a healthier pace than recent years.

Here’s what they forecast:

• Average projection: 3.3% price growth per year through 2029
• Optimists: Closer to 5.0% annually
• Even the most conservative estimate: Still around 1.3% growth per year

No one is calling for a major national decline.

That’s a good thing for homeowners and buyers alike. More moderate, sustainable growth creates a healthier housing market. And with inventory still tight in many areas, prices in some neighborhoods are expected to rise faster than the national average.

A few other reasons experts don’t foresee a crash:

• Foreclosures remain low
• Lending standards are strong
• Homeowners have near-record levels of equity

These factors help stabilize the market and protect against widespread price drops.

If you’ve been waiting on the sidelines for a crash before making a move—you might be waiting a long time. The market is moving forward, not falling apart.

At Evergreen Home Loans™, we’re here to help you make informed decisions based on your local market. National trends set the stage, but what really matters is what’s happening in your neighborhood.

Let’s talk about what that looks like in your zip code. Reach out to your local Evergreen Loan Officer today.

Source: KCM

Will Home Prices Drop?

Many hopeful buyers are still waiting for a big drop in home prices. And with headlines reporting small price dips in certain areas, it’s easy to think a larger correction is just around the corner.

But here’s what the experts are actually saying:

While price growth is slowing, it doesn’t mean a crash is coming. As the National Association of Home Builders (NAHB) explains:

“House price growth slowed . . . partly due to a decline in demand and an increase in supply. Persistent high mortgage rates and increased inventory combined to ease upward pressure on house prices. These factors signaled a cooling market, following rapid gains seen in previous years.”

So, what does this mean for you? Nationally, prices are still expected to rise—just at a slower pace. The average projection from eight leading industry forecasters suggests home values will increase 1.5–2% in 2025.

And while some markets are seeing small decreases, they’re minor—about -3.5% on average. That’s nothing like the 20% drop we saw during the 2008 housing crisis. Plus, with home prices up 55% nationally over the past five years (according to the Federal Housing Finance Agency), small fluctuations are natural.

The bottom line: Home values are expected to continue climbing, just not as rapidly. Working with a local expert can help you understand exactly what’s happening in your market.

Will Mortgage Rates Come Down?

Another big question: should I wait for rates to drop?

Here’s the reality: current projections suggest mortgage rates will remain fairly steady, likely ending the year in the mid-6% range. As Yahoo Finance recently reported:

“If you’re looking for a substantial interest rate drop in 2025, you’ll likely be left waiting.”

That’s why trying to time the market often isn’t the best strategy. If you’re ready to move or need to move, it's more important to create a plan that works with today’s rates than to wait for a drop that may not come.

At Evergreen Home Loans™, our loan officers understand the economic factors influencing rates, and they’ll help you explore all your options. Whether that’s using one of our innovative loan programs, buying down your rate, or getting pre-approved so you’re ready when the right home hits the market, we’ve got you covered.

What This Means for Buyers and Sellers

Whether you’re buying, selling, or doing both, this market is all about strategy. Home prices are still rising nationally, and rates are holding steady. That means now could be the right time to move, especially if you have a clear plan and the right team by your side.

Let’s Build a Plan That Works for You

At Evergreen Home Loans™, we believe your homebuying journey should be driven by your goals, not the headlines. Let’s connect and talk about what’s happening in your local market so we can help you move forward with confidence.

Ready to get started? Contact your local Evergreen loan officer today.

Source: KCM

Myth 1: You need a huge down payment.
According to the National Association of Realtors®, the typical down payment for first-time buyers has been between 6% and 9% for years. Some loan programs, like FHA loans, allow as little as 3.5% down, and VA loans often require no down payment at all. Evergreen offers a variety of loan options to help you get into a home with less money upfront.

Myth 2: Saving will take years.
While saving for a down payment takes planning, you may not need as much—or as long—as you think. Our Loan Officers can help you determine the right amount for your situation and create a plan to get you there faster.

Myth 3: You have to do it all on your own.
Thousands of down payment assistance programs exist at the local, state, and national level. Many buyers aren’t aware of these opportunities, but Evergreen can help you explore every option to make homeownership more affordable.

The Evergreen Advantage
When you choose Evergreen, you get more than a mortgage. You get guidance, resources, and our commitment to closing On Time and As Promised®. If a down payment has been the biggest obstacle to your home search, we’ll help you find solutions so you can move forward with confidence.

Ready to see what’s possible?
Connect with your local Evergreen Loan Officer today. We’ll walk you through your options, help you find the right program, and get you one step closer to holding the keys to your new home.

Source: KCM

What the Numbers Show

According to recent housing data, about 50% of homes on the market today are selling for less than their asking price.

But that doesn’t necessarily mean bad news, it means the market is finding balance again. Here’s a quick look at the shift:

• 2018–2019: Roughly 50–55% of homes sold under asking. That was the norm.
• 2021–2022: Only about 25% sold under asking, driven by record-low rates and intense demand.
• 2025: We’re back to nearly 50% selling under asking which is closer to what’s typical for a healthy housing market.

Why This Matters for Sellers

In today’s environment, your pricing strategy is more important than ever.

During the pandemic market, you could overprice your home and still attract multiple offers. Now, buyers are more selective, budgets are tighter, and competition is less frenzied. Your first two weeks on the market are critical, this is when the most serious buyers are watching. Miss your price in that window, and your listing could go stale.

The Winning Formula

Here’s how to set yourself up for success:

1. Prep your home: Small repairs, fresh paint, and touch-ups go a long way. Homes that show well are more likely to attract stronger offers.
2. Price strategically: Don’t rely on list prices in your neighborhood, look at what homes are actually selling for. Lean on your agent’s expertise to price it right the first time.
3. Stay flexible: Negotiation is part of today’s market. Sometimes it’s not about the price but about terms—like repairs, credits, or closing costs.

Remember: while 50% of homes are selling under asking, the other half are still selling at or above, as long as they’re priced and presented correctly from the start.

The days of automatic bidding wars may be over, but opportunities are still here for sellers who understand today’s market.

At Evergreen Home Loans™, not only are we local, but we partner with local real estate professionals to help homeowners position their properties for success also. If you’re thinking about selling, now is the time to plan with a strategy that works in this market, not the one from a few years ago.

This long-standing program helps buyers compete with more confidence, provides sellers with added peace of mind, and gives agents a smoother path to closing.

How Security Plus Helps You

• For Buyers: Competing in today’s market can be challenging. Security Plus strengthens your offer by including a $10,000 Evergreen-backed guarantee, helping your offer stand out to sellers.
• For Sellers: Security Plus provides assurance that the buyer’s financing will close as agreed. If not, Evergreen pays the seller $10,000—clear proof of our commitment.
• For Real Estate Professionals: Security Plus creates stronger offers for your listings, helps reduce uncertainty in transactions, and demonstrates the reliability of Evergreen financing.

Built for Competitive Markets

First introduced in 1989, Security Plus has supported homebuyers for decades. The increased seller guarantee is another way Evergreen delivers on its promise to stand behind qualified buyers and provide confidence to everyone involved in the transaction.

A Growing Number of Americans Own Their Homes Outright

Recent analysis from ResiClub using U.S. Census data found that over 40% of owner-occupied homes are now owned free and clear—the highest share ever recorded. That means four in ten homeowners are enjoying life without a monthly mortgage payment.

One big reason? Time and perseverance. Many Baby Boomers have been in their homes long enough to pay off their mortgages entirely, and that hard-earned equity is now becoming a powerful tool for the next stage of life.

How Equity Is Empowering Downsizers

If you’ve built substantial equity, or paid off your home completely, you may have the ability to purchase your next home in cash. That means no new mortgage, no monthly payments, and less stress in retirement.

By selling your current home and using the proceeds to buy your next one outright, you can:

• Simplify your finances and reduce monthly expenses
• Increase your cash flow by choosing a smaller or less expensive property
• Enjoy a smoother, faster closing process

This approach is gaining traction nationwide. According to research from John Burns Research and Consulting and Keeping Current Matters, the number of all-cash home purchases continues to rise, especially among Boomers looking for simplicity and stability.

Freedom, Flexibility, and a Fresh Start

For many, downsizing isn’t about giving something up, it’s about gaining peace of mind. Moving to a more manageable home can free up time, money, and energy for what matters most: travel, family, hobbies, or simply enjoying your retirement years without financial worry.

At Evergreen Home Loans, we help homeowners explore what’s possible with the equity they’ve built. Whether you’re considering buying your next home outright or exploring other smart lending options, we’re here to guide you through every step.

You’ve spent years building equity. Now it may be time to let that equity work for you.

Connect with your local Evergreen loan officer to discuss your home’s current value, your financial goals, and the best strategy for turning your next move into a step toward greater freedom.

Source: KCM

At Evergreen Home Loans™, we believe this new market brings new possibilities. More homes are available. Price growth is cooling. And with rates settling from their peaks, the path to homeownership is starting to feel a little more within reach.

The Market Is Shifting in Favor of Buyers

We’re seeing more balance return to the housing market. Across many regions, listings are growing, giving buyers the breathing room they’ve been waiting for. More inventory means less bidding pressure and a better chance of finding the right home, not just the first one available.

Home prices are also leveling out after years of steep increases. When combined with slightly lower mortgage rates, that means greater affordability and more opportunities for qualified buyers to make their move.

At Evergreen, we’re helping buyers take advantage of this moment with innovative loan options like:

• StepUp – Buy your next home before selling your current one.
• Fast as Cash  – Compete with cash offers, even if you need financing.
• Security Plus Seller Guarantee™ – Give sellers confidence your offer will close on time—or we’ll pay them $10,000.*

These programs were built to solve the challenges buyers face in today’s market, so you can move forward with clarity and confidence.

Local Experts, Personal Guidance

Every market is unique. What’s happening nationally might not reflect what’s happening in your own neighborhood. That’s why connecting with a local Evergreen loan officer can make all the difference.

Your loan officer will walk you through your options, help you explore loan programs that match your goals, and ensure you’re prepped and ready when the perfect home comes along.

Confidence Starts with Preparation

Not ready to dive in right away? That’s okay too. This is the perfect time to get prepared. From understanding your budget to exploring your buying power, Evergreen makes it simple to take the next step at your own pace.

With personalized pre-approvals, flexible loan options, and a team that delivers On Time and As Promised®, you can feel confident you’re ready when the timing is right.

This isn’t the same market we saw a few years ago. Today’s buyers have more options, more leverage, and more tools to succeed.

If you’ve been waiting for a sign that it’s time to start looking again—this is it.

Reach out to your local Evergreen Home Loans Loan Officer to explore what’s possible in today’s market.

Because a new season brings new opportunities, and your next home could be waiting.

 Source: KCM

More People Are Expected To Move

Over the past couple of years, high rates and limited affordability put many homeowners’ plans on hold. But that pause won’t last forever. People will always need to move—to relocate for work, find more space, or downsize, and experts anticipate more of those moves happening in 2026.

What’s driving the shift? Two key factors: mortgage rates and home prices. Let’s look at what’s expected in both areas.

Mortgage Rates Could Continue To Ease

It’s no secret that rates have played a big role in keeping buyers and sellers on the sidelines. The good news: after peaking near 7% earlier this year, rates have started to come down—and experts predict they’ll continue trending lower throughout 2026.

It may not be a straight path down, but even small declines can make a meaningful difference in affordability. Compared to when rates were at their highest, many buyers are already saving hundreds on potential monthly payments. That’s progress worth celebrating.

As rates gradually move toward the low 6s—or possibly even the high 5s—more buyers will regain confidence and purchasing power, helping the market pick up speed.

Home Prices Will Rise at a More Moderate Pace

At the same time, home prices are expected to grow at a steadier, more sustainable rate. Experts agree prices aren’t headed for a crash. In most markets, demand will remain strong enough to keep values stable or rising modestly.

That’s good news for both buyers and sellers: buyers get more predictability when budgeting, and sellers benefit from continued equity growth. While each market will vary, the national forecast points toward moderate, healthy appreciation, setting the stage for a more balanced market overall.

How Evergreen Helps You Move With Confidence

At Evergreen Home Loans™, we believe peace of mind should come standard with every mortgage. That’s why we offer the Security Plus Seller Guarantee™, a program designed to give your offer the strength and certainty it needs to stand out in any market.

With Security Plus, buyers can shop with confidence knowing their loan has already been through a full credit underwrite. Sellers gain the assurance that the offer is backed by Evergreen’s proven track record, and if the loan doesn’t close due to Evergreen, we’ll pay the seller $10,000.*

It’s a program that’s been tested, trusted, and proven to help buyers compete successfully in tight markets, and it’s one of the many ways Evergreen continues to make homeownership easier.

After a quieter stretch in housing, 2026 is shaping up to be a year of opportunity. With mortgage rates trending lower, price growth stabilizing, and more people ready to make a move, the market’s momentum is building again.

If you’re thinking about buying or selling next year, now’s the time to prepare. An Evergreen Home Loans™ Loan Officer can help you understand your options, secure financing with confidence, and make your offer stand out with Security Plus—so you can move forward On Time and As Promised®.

Ready to make 2026 your year to move?
Contact your local Evergreen Home Loans™ Loan Officer today to get started.

Source: KCM

At Evergreen Home Loans™, we see this every day. Homeowners aren’t moving just for something new—they’re moving because their current home no longer supports their family, career, or long-term goals. The goal isn’t to chase a rate, it’s to create a path forward that makes sense financially and personally.

The Lock-In Effect Is Easing

For years, the “lock-in effect” kept homeowners rooted in their current homes. Many stayed put to avoid a higher rate, even if their house no longer worked for them. However, recent data from the Federal Housing Finance Agency (FHFA) shows that this effect is gradually loosening.

• The number of homeowners with rates below 3% is slowly declining.
• More buyers are now taking on rates above 6%.

With thoughtful planning and flexible solutions like Evergreen’s StepUp program, which can help homebuyers purchase a new home before selling their current one, moving forward is becoming more achievable. More homeowners are accepting today’s rates as the new normal and choosing to move ahead with their life plans.

The Life Changes That Are Outweighing Low Mortgage Rates

According to First American, these “5 Ds” often create the need for a new home:

• Diplomas: Career advancement and increased income can boost buying power, making a move to a different home a natural next step.
• Diapers: As families grow, a home that once worked may no longer be the right fit.
• Divorce: Major life transitions often create the need for a fresh start.
• Downsizing: When children move out, homeowners often seek a smaller, more manageable home.
• Death: The loss of a loved one can shift priorities, including the desire to be closer to family or support systems.

Whatever the reason, the key takeaway is clear. For many homeowners, holding onto a low rate isn’t worth putting life on pause.

Making Your Move Easier with Evergreen

Life moves fast—and your home should keep up. While a low mortgage rate has been a fantastic advantage, your priorities may be changing. With programs like StepUp and other flexible solutions, Evergreen can help you move confidently, right-size your home, and plan your next chapter.

If you’re ready to explore what’s possible in today’s market, talk with your  local Evergreen Loan Officer. Let’s find a solution that works for your next chapter.

Source: KCM

Here are the three questions we hear most often, with clear answers backed by the latest data.

1. “Will I Be Able to Find a Home?”

The short answer: yes, more so than in recent years.

Inventory has steadily improved. According to Realtor.com, there have been more than one million homes for sale nationally for six consecutive months, something we haven’t seen since 2019.

What this means for you:

• Buyers: More homes to choose from, less competition, and time to make thoughtful decisions.
• Sellers: Greater flexibility when planning your next move.

Homes aren’t disappearing the moment they hit the market anymore. Buyers can now compare options, ask questions, and move at a more deliberate pace.

Tip: Our Security Plus Seller Guarantee™ can help your offer stand out by reducing uncertainty for sellers—giving you an edge without overpaying.

2. “Will I Ever Be Able to Afford a Home?”

Affordability is improving thanks to two key shifts:

1. Mortgage rates trending lower
2. Home price growth moderating

These factors mean monthly payments are lower than just a few months ago, making homeownership more attainable for many buyers.

Understanding your options is critical. Rate strategies, local pricing trends, and tailored loan programs can all impact what’s possible. At Evergreen Home Loans™, we guide buyers through the numbers so they can move forward with confidence, knowing they have a plan that fits their goals.

3. “Should I Wait for Prices to Come Down?”

It’s natural to wonder if waiting will save money—but the housing market is complex and local:

• Some markets are leveling off, others continue to appreciate.
• Nationally, experts surveyed by Fannie Mae expect home prices to keep rising, albeit at a slower, more sustainable pace.
• Current homeowners hold significant equity, making the market much stronger than during the last housing crash.

History shows that long-term wealth comes from time in the market, not perfect timing. Waiting for a dramatic drop can mean missing opportunities.

The housing market can feel overwhelming with so much information out there. The key is understanding how current data applies to your situation and your local market.

With programs like Security Plus and guidance from a trusted loan officer at Evergreen Home Loans™, you can explore your options, evaluate what makes sense, and plan your next move confidently—whether that’s buying now, selling, or simply preparing for the future.

Next Step: Connect with a local loan officer today to discuss your goals and see what’s possible in your market.

Source: KCM

Often, the clearest path forward comes from focusing on your personal goals and needs rather than trying to perfectly time the market.

1. Do You Have a Steady Stream of Income Through Your Current Job?

When you take out a mortgage, you are committing to monthly payments for years to come. Having reliable employment and consistent income provides peace of mind and a strong foundation for homeownership.

2. Do You Know What You Can Afford?

This is where working with a trusted loan officer truly matters. A pre-approval conversation helps you understand what you may qualify for, how current mortgage rates affect your payment, and what additional costs to plan for such as closing costs and insurance. Clear numbers remove uncertainty and help you shop with confidence. This way you can figure out your home buying budget.

Pro Tip: Our mortgage calculators are a great tool for this, when you are fist getting started with the homebuying process.  

3. Do You Have an Emergency Fund?

Maintaining a financial cushion allows you to handle unexpected events without added stress. Make sure you have some money put away for anything from medical expenses to additional living expenses.

4. How Long Do You Plan to Live in Your Next Home?

If you expect a major life change such as a relocation, career move, or family obligation in the near future, that timing should be part of your decision. Looking ahead helps ensure your purchase aligns with your long-term plans.

5. Do You Have the Right People Guiding You Through This Journey?

Having experienced professionals by your side makes a meaningful difference. A knowledgeable local real estate agent and a local loan officer can help you understand your options, answer questions clearly, and guide you through each step.

At Evergreen Home Loans™, we believe informed buyers make confident homeowners. Our role is to help you evaluate readiness honestly and move forward with buying a house when the timing is right for you.

Because homeownership should feel reassuring, not rushed.

Smile, you’re home.

Source: KCM

The 2 Biggest Fears First-Time Homebuyers Have:

1. They don’t know where to start
2. They're afraid of being told “no”

Here’s the truth: it's not a “no”, it’s a “when and how”.

Being an educated buyer matters. Understanding your real options puts you in control, and that is why education is at the core of my work. Although AI tools can offer good information about the homebuying process, a Loan Officer is able to give you a personalized assessment of your situation. My job, as a Loan Officer, is to help you understand the steps, create a strategy, and guide you toward homeownership. That is why asking for help from a professional matters.

3 Common Homebuying Myths in Today’s Market:

I talk with buyers every day who assume they are “not ready yet” because of things they’ve heard over the years. Let’s clear up a few of the most common myths I see holding people back from buying a home in today’s market.

Myth #1: You Need 20% Down to Buy a Home

Fact: There are multiple down payment assistance programs available to buyers, and in some cases, down payments can be as low as 0%. Most of the buyers I work with here in Washington State purchase homes with less than 20% down. For example, FHA and conventional loans often allow lower down payments, and VA loans offer 0% down for eligible veterans.

Myth #2: Mortgage Insurance Is a Bad Thing

Fact: Mortgage insurance, often called PMI on conventional loans, is required on some loans when a buyer puts less than 20% down. I have seen PMI help buyers move forward sooner and, in some cases, save more money overall than waiting to put more money down upfront.

Myth #3: My Student Loans Automatically Disqualify Me

Fact: I work with plenty of buyers who ask whether student loans affect mortgage approval. Loan Officers do not automatically deny someone for having student loans. In fact, many of the homebuyers I work with have student loans and still qualify for a mortgage. It is important to remember that there are programs and options out there that can help.

The Most Important Advice for First-Time Homebuyers:

Schedule a free homebuyer planning session and attend a first-time homebuyer class.

You don’t need to do this alone. Buying your first home is a big step, but with the right planning and guidance, it can be achievable.

Are Rates Lowering?

Yes, mortgage rates have recently dipped below 6%, a meaningful shift from the higher levels we saw over the past two years. Rates have been one of the primary reasons many homeowners chose to stay put, especially those who secured historically low financing during the pandemic. While mortgage rates dominate headlines, real-life milestones often drive homebuying decisions instead. However, there is still a group of buyers who have been patiently waiting for improved affordability. As rates move back into the 5% range, we expect renewed activity from those who paused their plans. Even slight changes in rates can significantly impact monthly payments and purchasing power.

What is Happening with Housing Market Inventory?

Homes are staying on the market longer. Part of this is likely due to 2025 being marked as one of the slowest homebuying years in the past 30 years, with approximately 4.06 million existing home sales. For comparison, a more balanced and healthy housing market typically sees closer to 5.2 million annual sales, according to HousingWire. Lower overall sales volume means homes are not selling as quickly as they did during the peak seller-driven years, which can create meaningful advantages for buyers.

What Does a Buyer’s Market Bring?

When the market tilts toward buyers, opportunities begin to open up:

• Expanded inventory: A greater selection of homes allows buyers to compare features, neighborhoods, and pricing more thoughtfully.
• Reduced urgency: Homes staying on the market longer can mean fewer bidding wars and less pressure to rush decisions.
• Improved negotiations: Buyers may have more room to discuss pricing, request seller credits, or negotiate repairs.
• Stabilizing affordability: Moderating price growth for homes combined with steadier rates can positively impact overall purchasing power.

How Did the Market Do at the Beginning of 2026?

Although the year started with a slowdown in January, this does not necessarily reflect where the market is headed. This slowdown was primarily due to temporary factors, such as seasonal patterns and the large winter storms that moved across the country. Despite the winter storms and the slowdown, we are still seeing consecutive improvements in affordability. In fact, January marked the seventh consecutive month of improvement in terms of affordability, and we expect home sales to pick up again as we head into Spring.

So, Are We Really in a Buyer’s Market?

Nationally, conditions are leaning toward a buyer’s market, though we are not fully there yet. As always, real estate is highly localized, and market dynamics can vary significantly by region. That said, affordability is improving in many areas. In 57.7 percent of counties across the United States, owning a home is more affordable than renting a three-bedroom.

Looking more closely at the data from ATTOM, the Midwest and South are seeing the largest number of affordable counties. The share of counties where owning is more affordable than renting a three-bedroom home breaks down as follows:

• Midwest: 81.5%
• South: 66.3%
• Northeast: 48.8%
• West: 16.9%

Homebuyers in the Midwest and South are more likely to find affordable counties to purchase homes in, compared to those who are looking to buy in the Northeast or West.

Key Takeaways:

• Mortgage rates have dropped to their lowest levels since 2022.
• Home sales slowed in 2025, leaving homes on the market longer.
• The 2026 housing market is beginning to shift in favor of buyers.
• While the year started with a slowdown, housing market activity is expected to increase throughout 2026.
• Home affordability is coming back into the market, especially in most counties throughout the Midwest and the South.

Every market behaves differently, which is why working with a knowledgeable local home loan officer matters. At Evergreen Home Loans™, we focus on helping buyers understand their purchasing power, evaluate financing options clearly, and build a strategy that helps them compete with confidence. Programs like our Security Plus Seller Guarantee® strengthen your offer by giving sellers added certainty, helping you stand out in competitive situations.

Whether you are preparing to buy this year or simply exploring your options, having a strategy in place makes all the difference. If you are considering your next move, we are here to help you understand what today’s market means for you and your goals.

At the same time, repeat buyers are finding ways to purchase with cash. If you’re planning to sell and buy a home this year, understanding what’s happening in today’s market can help you move forward with confidence.

Why Isn’t My Home Selling?

Searches for “can’t sell house” have reached a new high. In this market, the reasons are often due to pricing and presentation.

Why Do Home Sales Fall Through?

According to a Redfin survey of 443 agents, home inspections or repair issues made up 70.4% of the responses for why deals fell through. This highlights how important it is to prepare your home before listing.

Common Mistakes Sellers Make

Many sellers run into the same avoidable challenges:

• Overpricing: This can reduce showings and lead to weaker offers over time.
• Skipping Repairs: Deferred maintenance can raise concerns during inspections and cause buyers to walk away.

What Repairs Help a Home Sell Faster?

Making the right updates before listing can improve both your home’s appeal and your chances of closing successfully.

These are the top projects that Realtors® recommend people do before selling their home:

• Painting the entire home or one interior room
• Renovating the kitchen or bathroom
• Updating the roof

With homes on the market for longer, buyers have more time to compare homes. These improvements help your home stand out and reduce the risk of inspection surprises.

Buying Your Next Home Without Delays

One of the biggest reasons deals fall through is timing. Buyers often need to sell their current home before they can move forward. That’s where having a strategy matters.

This is where Evergreen Home Loans™ can help. Programs like StepUp allow you to buy before you sell, helping you avoid contingent offers and compete with confidence.

Compete with a Cash Offer

Another great option for repeat buyers is competing with cash. It is more common than you think, cash buyers made up 30.48% of homebuying transactions in 2025.

Sellers often prefer cash offers because they:

• Make the offer stronger
• Can close faster
• Reduce financing risks

Buyers who use cash strategies may also secure better pricing. On average, sellers accepted a 9% discount on cash purchases over financed purchases.

If you’re looking to compete with cash, our CashUp suite of products helps you make a competitive cash offer without needing cash on hand.

Your Next Step

Selling and buying at the same time can feel complex, but the right strategy makes all the difference.

If you’re preparing to sell your home and planning your next move, working with a knowledgeable local lender can help you avoid common mistakes and move forward with clarity.

At Evergreen Home Loans™, we offer solutions designed to give you more flexibility and confidence in today’s market. Feel free to reach out today!

Many buyers start by browsing homes online. It feels productive and exciting. However, they get their hopes up only to find out they can’t afford that 5,000 square foot lakeside home. Which is why getting pre-approved is so important. A true pre-approval is a personalized financial review that determines what is actually affordable for you.

What Does a Real Pre-Approval Look Like?

Instead of a checklist, I believe every pre-approval should start with a conversation. Every borrower’s situation is different. Depending on your lifestyle, goals, and finances, what a Loan Officer needs from you may vary.

For example:

• A self-employed borrower will provide different types of documents than a W-2 wage earner.
• The length of time someone has been self-employed can change what is required too.

In today’s market, a knowledgeable Loan Officer does more than issue a pre-approval letter. They provide education, strategic guidance, and help you structure financing that aligns with both your budget and your future plans.

After 16 years in this industry, here’s what I tell buyers:

If I’m okay at my job, I’ll pre-approve you.
If I’m great at my job, you’ll pre-approve yourself.

How Can I Get Pre-Approved Fast?

If you want a fast and smooth pre-approval, focus on these four things:

• Come in with an open mind and be ready to learn
• Be honest with your Loan Officer
• Provide accurate and complete information
• Ask questions

The more honest and forthcoming you are, the quicker a Loan Officer can help you figure out what options work for you.

How Long Does a Mortgage Pre-Approval Last?

Most pre-approvals are valid for 60 to 90 days, depending on the lender and the program.

Even if you are not ready to buy immediately, getting pre-approved early gives you a starting point. It helps you understand where you stand and what adjustments, if any, need to be made before you purchase a home.

How Can I Determine How Much Home I Can Afford?

Just because you are pre-approved for a certain amount does not mean you should max it out. A pre-approval tells you the maximum you can borrow. It does not mean that number is the most comfortable or responsible choice for your lifestyle.

It also does not mean you receive any unused portion of that amount. It simply establishes your borrowing ceiling.

To determine what is affordable for you, consider the following three factors.

1. Cash to Close: Understand the full amount you will need at closing. This includes your down payment and closing costs, minus any earnest money already deposited and any seller or lender credits. A helpful way to think about it is this: if you were closing tomorrow, how much would you need to bring, and are those funds readily available?
   
   
2. Monthly Payment: For most buyers, this is the deciding factor. The key is choosing a payment that feels sustainable for your lifestyle. Review your full monthly budget, including savings goals and everyday expenses, and determine how a mortgage payment fits into the bigger picture of your financial life.
   
   
3. Interest Rate: While you cannot control where rates are today, you can control your readiness and strategy. Interest rates are influenced by market conditions and individual factors such as your credit score. Also keep in mind that if rates improve in the future, refinancing may be an option. The most important timing factor is whether you are financially and personally prepared to buy. Trying to time the market is not always the answer.

Remember this as You Start the Process.

Tools, like mortgage calculators, are a good starting point, but keep in mind that a true pre-approval with a Loan Officer gives you an added level of clarity. It helps you understand your numbers, set clear boundaries, and move through the process with confidence and peace of mind.

Ready to get the pre-approval process started? I am here to help.