Orcas Island, San Juan County and Shaw Island real estate and homes for sale in Washington, waterfront properties, investment properties - Val and Jim Murrey, REALTORS® Val and Jim Murrey REALTORS(r) for Orcas Island, San Juan County and Shaw Island, Washington real estate, waterfront properties, investment properties - NUMBER1EXPERTS™ Val and Jim Murrey NUMBER1EXPERTS(tm) for Orcas Island, San Juan County and Shaw Island, Washington real estate, waterfront properties, investment properties
   
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Val and Jim Murrey, REALTORŪ, real estate agents and broker for Orcas Island, San Juan County and Shaw Island Washington home listings, property and land for sale - NUMBER1EXPERT(tm)
All agents are NOT alike! Find out why we are top real estate experts.

Contact Us:
Val and Jim Murrey
Windermere Real Estate / Orcas Island
217 Main Street
Eastsound, WA 98245
Toll-Free Phone:
800-842-5770
Phone:
360-376-8000
Cell:
360-317-7535
Fax:
360-376-5637
Email Us!





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We are very happy and shall enjoy our mountain-top retreat.
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Mortgage Prequalification: Orcas Island, San Juan County and Shaw Island Washington home buying, real estate listings, and homes for sale in San Juan County, WA
Welcome > For Buyers > Mortgage Prequalification ...


Don't Go Shopping for a New Home Before You Know Exactly How Much You Can Spend! 

You might have an idea of the loan payment and mortgage you can afford. But will the bank feel otherwise? It's always best to pre-qualify for a mortgage so you know exactly how much a financial institution would be willing to lend you. 

In the pre-qualification process, you will find out: 

- Exactly how much home or land you can afford. 

- How much cash you will need for the down payment. 

- The minimum down payment, and advantages of higher down payments. 

- What the bank feels you can afford for a monthly payment. 

We help buyers pre-qualify for mortgages every day. Simply fill out the form below to get started. 

Remember: we will respect your privacy! We know this is your personal information, and we will not distribute it to anyone, other than to our preferred mortgage broker. This service is also provided free of charge, without any obligation on your part. It is part of our job as top Orcas Island, San Juan County and Shaw Island real estate agents to offer services such as these. 

Once you fill out the form, we will quickly process your information and get right back to you! 

We can help you pre-qualify for your mortgage. It's our job! This is free and without obligation... 

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Real Estate Tips
Financing Your Home >The Margin on an ARM

When you are shopping for an Adjustable Rate Mortgage, the important thing to consider is the margin. Each time your loan is adjusted, the new interest rate will be tied to an index of Treasury notes. The margin is the percentage point above that index where your rate will be set.

Let's suppose that you have a one-year ARM with a 2.5 margin. Your initial rate was 7.5%, and during the first year of the loan, the index of 1-year Treasury notes was at 6.25%. The rate for the second year of your loan would be adjusted to 8.75%. With a margin of 2.75, it would increase to 9%. Some lenders offer lower initial rates with higher margins. In this case, the subsequent rates could be higher after the first year, than if you chose a higher initial rate with a lower margin.

If you are confused by the various mortgage offers, ask a professional mortgage broker to sit down with you and show you how it works. Today the rates and different financial possibilities are so variable that it is a good idea to talk to a mortgage broker--they usually know where the best rates can be found.

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Real Estate Trivia
Q 
What might happen to the Empire State Building in extreme weather?

A 
The Empire State Building can sway several feet to either side when buffeted by a severe windstorm or rainstorm.
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Val and Jim Murrey, REALTORŪ, real estate agents and broker for Orcas Island, San Juan County and Shaw Island Washington home listings, property and land for sale - NUMBER1EXPERT(tm)

Val and Jim Murrey
Windermere Real Estate / Orcas Island

217 Main Street
Eastsound, WA 98245
Phone: 800-842-5770
Phone: 360-376-8000
Cell: 360-317-7535
Fax: 360-376-5637
info@OrcasIslandProperty.com

We provide professional real estate services on Orcas, Shaw and Lopez Islands in the heart of the Pacific Northwest's San Juan Islands. Whether it's a waterfront or view home for retirement, permanent residence, vacation or income property; land on which to build your cottage by the sea; a real estate investment or business opportunity--we can help you find it through our knowledge of and access to all local listings.

Equal HousingMLSREALTOR


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