Misa Rohan MLO NMLS 1997716/1850

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United States
Bellevue, WA
Misa Rohan MLO NMLS 1997716/1850

A residential mortgage lender and advisor in WA, CA & OR Any programs shown do not demonstrate all options or pricing structures. Equal Housing Opportunity.

Element Mortgage a division of American Pacific Mortgage Corporation NMLS 1850

All information contained herein is for informational purposes only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans

subject to underwriting approval. Some products may not be available in all states and restrictions apply. Regulated by the Division of Real Estate. Licensed in CA, OR, WA

Licensed under the Oregon Consumer Finance Act

Licensed by the Dept of Financial Protection and Innovation under the CRMLA

www.nmlsconsumeraccess.org

07/28/2023

Dream of owning a home? Your income doesn’t have to stand in your way!

Explore first-time homebuyer loans tailored for those with limited income. Start building your future today 😊🏡

07/19/2023

How much do I need to save for a down payment? General parameters below:

Conventional Loan: 3% for first-time homebuyers (otherwise 5%)
FHA Loan: 3.5%
VA Loan: 0%
USDA Loan: 0%

There are local down payment assistance (DPA) programs that may also allow 0% down. Reach out for specifics 📬

07/06/2023

Don't do it backwards! Whether a first-time homebuyer or seasoned investor, getting pre-approved should always be your first step in buying a home.

It's integral to know the details of your financing before picking a house. This allows you to determine affordability, budget, set realistic expectations and shop with confidence! Not to mention, the chances of your offer being accepted without a pre-approval are slim to none.

If you aren't sure where to start, message me 🙂

06/28/2023

If you think it might take some time to buy a house, then you might want to ask your loan officer if you could start with a soft credit pull instead of a hard pull, which could affect your credit.

This is also a great place to start if you're unsure where your credit score is!

06/19/2023

Juneteenth, the commemoration of the end of slavery in the United States. While the Emancipation Proclamation went into in 1863, Juneteenth recognizes the day in 1865 when Maj. Gen. Gordon Granger announced in Galveston, TX the Civil War as over and enslaved people were free.

Let’s remember the bravery and sacrifices of those whose actions brought us here. We must keep the fighting spirit of those before us to continue to work towards equal justice.

06/15/2023

The current rate environment is scaring some folks away from purchasing a home. If this is you just know you’re not alone! But the reality is most people aren’t considering long-term equity growth, let alone the true cost of waiting.

Until running the numbers, this is just another guessing game.

Historically, every time the real estate market dropped… it came back stronger than ever!

Buying a home is always scary, but as time goes on (and history continues to repeat itself), the cost will inevitably increase.

06/14/2023

Trying to figure out how a client came up with their income figures 🤔

06/13/2023

What do homeowners association (HOA) dues cover?

While this varies greatly for each community, these items are commonly included:

🗑️ Trash Services
🏡 Maintenance
🚰 Water
🌷 Landscaping
🛠️ Repairs

With healthy HOA management/budgeting, the attention to maintenance (which otherwise may be neglected) should reduce the need for big ticket repairs.

If you’re viewing homes with HOA dues, it’s important to find out where those dues go and how much the community has in reserves.

03/29/2023

Debt Service Coverage Ratio (DSCR) loans are investor specific loans that do not require employment! 😮

We're generally looking at 3 qualifying parameters:

1️⃣ Credit: Median FICO 660+

2️⃣ Down Payment: Minimum 20% for 1-4 units

3️⃣ DSCR Ratio of at least 0.75: Net Operating Income (ie: projected rents received) / Total Debt Service (principal & interest, taxes, insurance and HOA dues)

Message me with any questions about DSCR financing or any other investment opportunities 👩‍💻

03/22/2023

If you're a first-time homebuyer the pre-approval process may seem like a daunting task.

With new technology the timeline for this process has been drastically reduced! Pre-approvals generally take less than 24 hours and with AI underwriting, your loan may close in as little as two weeks.

Here are defined steps from pre-approval to closing. The best part? Most don't involve you at all!

03/14/2023

Here are 4 of the biggest don'ts of the loan process! Once you're pre-approved or under contract, any changes may impact your eligibility.

1️⃣ Don't apply for new credit. Not only will new credit pulls potentially lower your FICO score, adding new debts will increase your DTI (debt-to-income) ratio, therefore lowering your purchasing power.

2️⃣ Don't move money around without a paper trail! All funds required for your loan are tracked to ensure they're from an eligible source. $5,000 from the shoe box under your bed typically isn't an acceptable source.

3️⃣ Don't skip a payment or make a late payment. This will negatively impact your credit score and potentially deem you ineligible for certain loan programs.

4️⃣ Don't change jobs if you can help it. This is especially true if you're changing the way you're being paid, such as going from W2 to 1099.

Bottom line is talk to your LO before making any changes to your financial standing, especially if you're already under contract. Even if the circumstances seem favorable, such as a new job offer with higher pay, this may impact your eligibility.

If you have any upcoming changes and are unsure what implications they have on your homeownership goals, message me your questions 🙂

03/09/2023

🚨 The FHA has officially reduced their MIP (mortgage insurance premium) fees!

This can save you hundreds - or thousands - in the early years of your loan 😁🙌🏼

Message for details 📩

Address

301 116th Avenue SE Suite 201
Bellevue, WA
98004

Telephone

+12069152457

Website

https://www.elementmortgage.com/bio-Misa/

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