Stephen Chow - Fairway Independent Mortgage - NMLS# 487429

07/08/2023

5.0 star review received on Experience.com for Stephen Chow by Kim C - Stephen and Naomi did an excellent job, always thorough, professional and courteous. I am a longtime client and I always appreciate how smooth my closings are.

Click to see all 55 reviews of Stephen Chow, Loan Officer | NMLS # 487429

05/12/2023

✨Congratulations to my clients on the purchase of this amazing, recently updated home in Shelton featuring views of Oakland Bay, direct water access and tideland rights. This home was purchased with Fannie Mae’s Family Opportunity product which allows borrowers to purchase a home for their elderly parent or disabled child who could not otherwise qualify on their own. These loans qualify under standard Fannie Mae guidelines and are recognized as a Primary Residence, which reduces the rate significantly compared to 2nd Home and Non Owner Occupied designations.

Want to learn more about this product? 🙋‍♂️
📞 425.260.1728
📧 [email protected]

05/05/2023

5.0 star review received on Experience.com for Stephen Chow by Seong J - He took care of loan process simple and prompt.

Click to see all 54 reviews of Stephen Chow, Loan Officer | NMLS # 487429

04/21/2023

🍾 Congratulations to my client on the closing of this beautiful home in Federal Way. This was a unique transaction from the beginning - we had to accommodate the buyer's hectic travel schedule and also qualify various forms of income which other lenders had trouble with. After consulting with the client we felt confident we could complete the transaction and ensured her we could get the job done. We did a lot of the heavy lifting upfront in the pre-approval stage by requesting documents, obtaining letters, and completing all verifications so we could clear underwriting before the buyer left town. In total she was out of the country for three weeks during the most critical parts of the transaction; outside of a few emails, my team and her agent SkyLar SheNg coordinated everything and had docs ready for signing upon her arrival home.

It’s amazing what you can accomplish when you have the right team place 😊

Contact me for more information
📞 425.260.1728
📧 [email protected]

04/21/2023

5.0 star review received on Experience.com for Stephen Chow by Vivian C - Stephen made the process super painless and smooth. He explained everything clearly and answered all my questions promptly in great detail.

Click to see all 52 reviews of Stephen Chow, Loan Officer | NMLS # 487429

03/08/2023

Purchasing your first home is a big deal and can be costly if you don’t have the right mortgage specialist to guide you through the process.

Here are some common mistakes to avoid:

✅ Looking for homes before getting pre-approved
✅ Buying more house than you can afford
✅ Not budgeting for closing cost
✅ Assuming you need a 20% down payment
✅ Consulting with only one lender
✅ Applying for new credit before closing
✅ Depositing large sums of money

Have Questions, or want to learn more about home ownership?

📞 425.260.1728
📧 [email protected]

03/03/2023

Congratulations to my clients on the closing of this new construction townhome in Seattle, just a few blocks from Northgate Mall and Transit Station. They were able to snag one of the last units and negotiate a sizable amount off list price, along with a seller credit covering all closing costs. Based on the location and growth in the area, this is going to be a great long term investment for years to come. Timing was critical - their agent helped them secure the contract before the recent spike in buyer activity, and I was able to lock in their rate right before the last Fed rate hike. This speaks to the importance of having an experienced team behind you!

02/02/2023

You’re likely familiar with your credit score and how that impacts your ability to take out a loan, but do you know how it’s calculated or what factors are taken into account?

Hint: it’s not just about making payments on time.

Here are 5 factors that affect your credit score, and how much of an impact each one makes.

✅ Payment History
Are payments being made on-time and paid in full each cycle - 35% of credit score

✅ Account Balances
How much of your available credit is being utilized, aim to keep this under 30% of your max limit - 30% of credit score

✅ Length of Credit History
How long have you been building credit, typically account with 24 - 36 mo. history are considered seasoned, often times keeping older accounts open with extended history can be beneficial to your overall score – 15% of credit score

✅ Credit Mix
Utilize multiple forms of credit: Credit Cards, Auto Loans / Leases, Personal Loans, Mortgages, etc. – 10% of credit score

✅ New Credit
While having multiple accounts in usage helps build credit, accounts with less than 12 mo. history essentially lower your score as you have not establish payment history – 10% of credit score

🙋‍♂️ Have Questions, or want to learn more about qualifying for a loan?
📞 425.260.1728
📧 [email protected]

01/12/2023

Nobody buys a home in the winter. Right? Wrong! In fact, winter is a great time to buy a home. Here are 4 reasons to consider buying a home this season.

✅ Less competition
Traditionally there are fewer buyers in the market at this time so your less likely to run into competition.

✅ Sellers are motivated
Most sellers that list during this time do so because of necessity, this means they might be more willing to negotiate on terms.

✅ You can inspect the home’s durability
Winter is a great chance to see how the home performs in the harsh weather. Any leaks in the roof, does the furnace work, any problems with insulation?

✅ Better and faster service
Service providers (Real Estate Agents, Banks & Lenders, Inspectors, Movers) are typically slower during this time of year which means better service and response times.

01/10/2023

✨ I take pride in helping my clients navigate the loan process and understand their options. When making one of the most important decisions of your life, it’s critical to work with a professional that understands your needs.

Seeing the end results and receiving a positive testimonial is one of the most rewarding parts of my job.

Need help financing your home in 2023? 🙋‍♂️
📞 425.260.1728
📧 [email protected]

01/06/2023

Wondering what housing experts are calling for in 2023 and how it might impact your plans?

Let's connect and design a roadmap to make homeownership a reality this year.

📞425.260.1728
📧 [email protected]

01/03/2023

Now that you’ve set your goal, it’s time to start planning!

I know it can be overwhelming so here are some quick tips to get you started.

✅ Improve your debt-to-income ratio (DTI)
Paying down debt and reducing your liabilities are two ways to improve your DTI, this can help increase your FICO score, lower the interest rate on your mortgage, and increase the amount banks are willing to lend you

✅ Save for more than just your down payment
Having access to additional funds is critical, beyond down payment you should factor in closing cost, pre-paid items and other homeowner related expenses like moving, home improvements, furniture, and more.

✅ Interview and select a loan officer / mortgage lender
All loan officers are not created equal, it’s important to ask for referrals and interview a few to find one that supports your needs.

✅ Find a good real estate agent
Selecting the right real estate agent can make all the difference, especially if it’s your first time. Don’t underestimate this step!

Contact me for more information
📞 425.260.1728
📧 [email protected]