Buying a Home Takes Longer Than You Think – See the Timeline to Buy

One of the biggest surprises for first-time homebuyers is how long the homebuying process can take, especially in the Seattle area. Even if you’re thinking about buying a home 6 months from now, the reality is you should probably start the process now. Here’s an overview of how long the home buying process can take. Continue reading “Buying a Home Takes Longer Than You Think – See the Timeline to Buy”

Please follow and like us:

A Pastime, Not a Part-Time Job. 15 Minute Hosting.

You don’t have to change your lifestyle to be a great host – in fact, we’ve gotten our process down to what we like to call “15 Minute Hosting.” With the help of Loftium’s supply starter package, automated messages, keypad and pricing, hosting is extra easy.
Please follow and like us:

Why use Loftium’s down payment? Here are the top 3 reasons our buyers keep telling us.

Affordability is at the top of every homebuyer’s mind. Depending on your income and savings, there are different reasons why you may need a boost from Loftium to afford a home. Let’s take a look at the top three scenarios why using Loftium can make a substantial impact on your affordability.

1) Your income and small savings are keeping you from getting pre-approved for a loan, period.

You want to get your foot in the door of homeownership but with little in savings, combined with a household income of less than $80K, it’s difficult to get pre-approved at a home price where you can actually buy something with in Seattle.  Given 5% down is required up-front for a conventional loan, you need Loftium’s down payment to buy.

Here’s a very common Seattle homebuyer profile:

  • Total household income: $75,000
  • Down payment savings: $5,000
  • Max home price without Loftium: $100,000
  • Max Home Price with $50K boost from Loftium: $497,306

Loftium is the key to homeownership for you. If you’re in this scenario, you’ll likely need to budget a little more tightly for the monthly mortgage payments, but if that means the difference between owning a home or not, cutting back on some expenditures could be worth it. Plus, the Airbnb income you’ll receive each month with Loftium can help add room to your budget.

2) You’ve got high income but low down payment savings.

You can easily afford the monthly mortgage payments but your down payment savings are too low to qualify you for a home price at which you’d like to buy. Want another bedroom? A better neighborhood? Enter Loftium.

Check out the before and after:

  • Total household income: $100,000
  • Down payment savings: $20,000
  • Max home price without Loftium: $400,000
  • Max Home Price with $50K boost from Loftium: $659,742

Loftium’s down payment boost combined with your income means you can get pre-approved for a much higher home price. Don’t let your down payment savings keep you from buying when you can totally afford the monthly payments. Prices in Seattle are outpacing income growth – it may be the perfect time for you to buy with Loftium’s help.

3) You’re crashing up against the conventional loan limit.

You don’t want to or cannot qualify for a jumbo loan or secondary mortgage, but in Seattle, you can only borrow $667,000 on a conventional mortgage before you have to look for other options. Jumbo loans generally require months of backup cash in the bank, and a 10% down payment. Secondary mortgages come with fluctuating, high interest rates. Either way – it can be very costly & you may not qualify for either one.  Use Loftium to keep your loan size under $667,000.

Here’s the breakdown:

  • Total household income: $150,000
  • Down payment savings: $60,000
  • Max home price without Loftium: $727,000
  • Max home price with $50K boost from Loftium: $777,000

Adding Loftium’s down payment can keep you in the conventional loan limit range so you can use one, clean conforming loan with a lower interest rate – saving you thousands over time.

You can afford to buy with Loftium.

From buying a home you love to owning one at all, our down payments can make a big difference in your personal affordability. See how much home you can afford with Loftium’s down payment.


In each case we assume 5% down payments and 43% debt to income ratio, the highest you can have and still get approved for a mortgage.


Please follow and like us:

You don’t have to put 20% down and why it’s smart not to.

We hear this from homebuyers a lot: “Wait, I don’t have to put 20% down?” Nope! You don’t have to. In fact, you can put as little as 5% down and there are legitimate reasons why it’s actually a good idea. Depending on what you choose, 20% or less, there are pros and cons. Let’s take a look.
Please follow and like us:

Affordable Homes in Seattle Do Exist – Check Out These Gems

You may be looking at Seattle’s real estate market and think affordable homes don’t exist – but they do! And it’s worth hopping on them now, as prices are rising quickly. Up and coming neighborhoods like Beacon Hill, White Center and Columbia City will provide a lot of bang for your buck.

Check out these homes that recently sold in Seattle under $500,000:

Continue reading “Affordable Homes in Seattle Do Exist – Check Out These Gems”

Please follow and like us:

Super efficient cleaning – getting it done in under an hour

After hosting for a period of time we’ve narrowed down our cleaning to-do list so it’s as easy and efficient as possible. We even provide quick-drying linens to reduce the amount of time spent waiting next to the dryer. Should you decide to hire a cleaner, this is a great resource for onboarding them to your Airbnb, too.

Here is our cleaning run-down after a guest checks-out and takes under one hour.

  1. Remove the used linens & toss in washer on fastest setting.Linens to launder: sheets, pillowcases, duvet/comforter cover and towels.  
  2. Put clean linens out while the washer runs the dirty ones.  You don’t have to wait for the washing to finish Loftium because sends you 3 sets of linens – you’ll always have a clean set ready to go!
  3. Vacuum the guest room, bathroom and common areas.
  4. Move the finished, wet sheets and towels to the dryer and run “Quick Dry” dry cycle.
  5. Wipe down the bathroom counter, toilet and shower.
  6. Check bathroom toiletries for fullness, replace/refill anything that’s running low.
  7. Take the bedroom and bathroom trash out.
  8. Take the dry sheets and towels out of the dryer, fold and place them in the closet.


Once a month, we recommend a deep cleaning of the bathroom and bedroom. Given you’re doing the above between guests the monthly “deep clean” should be super easy.

Please follow and like us:

Homebuyer Highlight: Daniel, 29, Put 5% Down

Daniel, a senior test engineer, is a savvy first-time buyer who decided a little sacrifice was worth saving some cash. We were excited to catch up with Daniel less than a year after he bought because his story intrigued us. He put 5% down, chose to live just outside the city, and found multiple roommates to help with the mortgage.

Continue reading “Homebuyer Highlight: Daniel, 29, Put 5% Down”

Please follow and like us:

I Have No Idea How to Buy A House – A Lifelong Renter’s Perspective

I’ve wanted to own my own home for as long as I can remember. As a long-time renter, more than anything, I want freedom from landlords, the ability to control my space and the tangibility of owning a home- having a place to call my own is a kind of a dream.


There’s just something indescribable about being able to point at a house and say, “that’s mine!”


But buying my first home feels daunting and super scary.  It’s an overwhelming mystery. On the scale of life mysteries, homebuying is somewhere between setting up my wireless router and understanding quantum physics (see official mystery scale below):

Continue reading “I Have No Idea How to Buy A House – A Lifelong Renter’s Perspective”

Please follow and like us:

Getting the Homebuying Process Started – 3 Steps You Can Totally Do

You’ve likely been browsing homes online and thinking about buying, but you’re not quite sure what’s next. Well, that’s where this guide comes in. Let’s get the homebuying process started. We’re not here to make sure you close on a home next week, but by next year, absolutely.
Please follow and like us: