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Your Guide to Accessory Dwelling Units (aka ADUs or DADUs)

Have you been considering an "in-law" apartment or backyard cottage? This type of dwelling is technically referred to an accessory dwelling unit aka "attached dwelling unit" (ADU) or detached accessory dwelling unit (DADU).An ADU is a smaller living space on the same lot as a single-family home. It must be a habitable living unit including space for sleeping, cooking and a bathroom with it's own entrance (independent of the primary residence). An ADU could be an apartment over the garage; in the basement of the primary residence; a detached home in the back yard; or even a manufactured home. An ADU may be added to a 1-3 unit property (conventional financing does not currently allow this for 4 unit properties).Recent changes to zoning laws in Washington state allows more homes to have an ADU. In many areas, regulations for ADUs have been eased to help promote the addition of accessory dwelling units in the spirt of creating more affordable housing.Adding an ADU to your home can provide a lot of options, including increase value by adding more living space. An ADU also provides additional space for when family or friends come to visit; or if you need housing for a parent or adult children. They can also provide additional income as an investment property or short-term-rental. Rental income may be factored for qualifying purposes.There are several options available for financing an ADU/DADU, including:Conventional Home RenovationFHAFHA 203(K)VAOne-Time Close Construction LoanHome equity lines of credit or fixed rate second mortgages.Reverse MortgageFinancing is available for purchases or refinances.Different down payment (home equity) requirements are based on the occupancy (primary, second home or investment property). Some programs, like FHA, have minimum down payment options.The property must meet zoning requirements. Some cities actually have pre-approved DADU plans to help make the permit process more efficient, including:SeattleRentonKirklandLaceyHere are guides from other cities information regarding ADUs:BellevueBremertonEverettKentLynnwoodPoulsboSpokaneTacomaVancouverIf you are considering adding an ADU/DADU to your home or finding a new home with the potential to add an apartment, please reach out to me! I am happy to review possible options with you.

Mortgage Rate Update for the week of May 19, 2025

Hello,Here is an overview of what economic indicators may impact the direction of mortgage rates this week.If you would like to see current mortgage rates based on your personal financial scenario, please contact me!Best regards,Rhonda Porter, Mortgage Advisor

Zillow’s Math – Does Buying a Home Now Make Sense?

Zillow recently published an article titled "If you buy now, it could take 13.5 years to make a profit on your home sale". This article is catching a lot of attention with various media outlets, and I thought I should use my resources to analyze this article.To do my comparison, I tried to use as much of Zillow's information as possible, including the average price of a home in Seattle and average rents, using credit scores between 720-739. If you would like me to provide scenarios for you based on your neighborhood and financial situation, please let me know!On this page, you'll find:My video (above) using Zillow's data with the resources I have available.Total Cost Analysis | Rent vs. Own which includes a short video reviewing the report. Compares renting to buying with 5%, 10% or 20% down payment.Rent vs. Buy Report for Zillow's Seattle home scenario based on a 10% down payment. *Rent vs. Buy Report for Zillow's Seattle home scenario based on a 10% down paymentNOTE: Mortgage rates have DRAMATICALLY IMPROVED since I created this resource guide. Please contact me for current rates!SPOILER ALERT!!! My research shows that it SHOULD NOT take 13 years (or even 10 years) to have a profit on selling a home - even with a 10% down payment! In fact, the Rent vs Buy Report shows that a person could have around a $500K selling their home just after 10 years even factoring in the monthly cashflow difference between renting and owning!Ultimately, buying a home is not for everyone. However, if you qualify for a mortgage and are interested in the appreciation and investment opportunities available with home ownership, I encourage you to check it out. It's also important to keep in mind that when rates trend lower, people who have been sitting on the fence waiting for lower rates will re-enter the market which will increase demand on the limited supply of homes for sale. This pushes rates higher. Higher mortgage rates can actually provide an opportunity to those who are willing to have the mortgage payment until they can refi (which may take a couple of years).I wrapped up my video (above) with a teaser about the All In One Loan, which pays off mortgages far more rapidly than a traditional 30 year (making owning a home even more affordable). You can learn more about this program here:Mortgage rates are subject to change and WILL change. Mortgage rates are based on mortgage-backed securities (bonds) and are similar to bonds. Please contact me for current mortgage rates as the rates you're viewing here (and probably anywhere) are expired.Questions? Considering buying a home? Please contact me - I am happy to help you!

A Solution for Veterans wanting to use a VA Loan

Many Veterans who have served our country have earned the right to have a VA mortgage loan. It’s unfortunate that some sellers as well as real estate agents have a bad image of VA loans and often discourage them. Many years ago, VA loans were sometimes more challenging than conventional financing – this is rarely the case anymore. Some people may falsely assume that if a Veteran is using a VA loan, they must have poor credit or not enough funds for a down payment. A majority of the Veteran’s I have provided mortgages for have excellent credit and plenty of funds for down payment, they opt for the VA loan because they either don’t want to use all of their funds for down payment, or the VA mortgage loan could be providing a lower interest rate than what they would receive with conventional financing. Bottom line, it’s their entitlement that they sacrificed and worked hard to earn. Regardless of how much I rant about why people should be more accepting of VA loans, we still have many who just can’t shake the unfortunate reputation of VA financing from years past. I have a possible solution! If a seller is not accepting offers with VA financing, make a cash offer instead! The Veteran can use a program like our cash-buyer program, and then buy the home back after closing using their earned VA financing! It’s really that simple!When the Veteran uses their VA financing to buy-back the home, they can use the same terms as if they were buying it directly from the seller. Our cash-buyer program closes purchases FAST and the Veteran’s financing to buy-back the home from the program takes place simultaneously. I would love to help more Veteran’s buy homes utilizing their VA entitlement. So if a seller balks at a VA offer or are not accepting VA offers, counter back with a cash offer!Your Real Estate Agent will need to take a 45 minute class to become certified to present an offer using our program. Please feel free to share this page with them. Please check out the additional information that I have on this page, including examples of how the scenario could work for a Veteran.Thank you to our Veterans for their service to our country!

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"Rhonda was kind, patient and highly communicative. She kept us informed and moving without a little of complexity. Love this experience."

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"Rhonda is a problem solver and a great communicator! I appreciate her insight and willingness to help always! This transaction could not have gone more smoothly. Thank you to Rhonda and team for a successful closing and happy Clients!"

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"Rhonda is just great to work with. Made the process easy."

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"Rhonda was a joy to work with! I have never worked with a Mortgage professional that made the process this easy. From the minute we contacted her the first time to the closing of our home, Rhonda was just unbelievable. She understands the market and where rates are likely going. Her experience was invaluable. Her communication was consistent and clear and she was always available for your questions and concerns. I cannot recommend Rhonda highly enough! Plus we got a great rate and mortgage that fit our needs. We will never use anyone else!"

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