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Mortgage Lender Auburn Washington

Home Loans In Auburn Washington

Auburn is a city in King County, a suburb of the Seattle metropolitan area in Washington. Ranked as the 14th largest city in the state, Auburn’s real estate market is somewhat competitive. The average median price of homes sold early this year is around $590k and sells within 90 days in the market.

Mortgage Programs in Auburn 

There are several different mortgage loan programs in Auburn. Here are some of the main types of mortgage loan programs:

  • FHA Loans

This type of loan is backed by the government and intended to assist lower-to-moderate-income borrowers in purchasing a property. FHA loans are ideal for first-time homebuyers and individuals with less-than-perfect credit. FHA loans need as low as 3.5% of the purchase price as a down payment, making them a viable choice. FHA loans require mortgage insurance premiums (MIP) which can raise the overall cost of the loan.

Borrowers must have at least a 580 credit score to qualify for a 3.5% down payment. The down payment may also come from family members, an employer, or a charitable institution in the form of a “gift.”

  • Jumbo Loans

This type of loan is ideal for applicants with good credit who want to purchase a high-priced home. Jumbo loans are intended for properties that exceed the conforming loan limits set by Fannie Mae and Freddie Mac. In King County, the conforming loan ceiling for 2023 is $977,500. The opportunity to finance a more expensive house is one of the perks of a jumbo loan. Still, they frequently need more significant down payments and have more rigid qualification standards.

To qualify, jumbo loans typically need a credit score of 700 or above and a down payment of 10 – 30%, depending on the borrower’s circumstances.

  • Conventional Loans

This loan is best suited to applicants with solid credit. To avoid Private Mortgage Insurance  (PMI), conventional loans typically require a down payment of 20% of the home’s purchase price. Some lenders may accept a 3% down payment for highly qualified applicants. A regular 5% down payment is required, but PMI will be required. A conventional loan has the advantage of often having lower interest rates than other forms of loans; nevertheless, they can be more challenging to qualify for if you have a low credit score.

All conventional loans require a credit score of at least 620.

  • VA Loans

VA home loans are guaranteed by the US Department of Veterans Affairs and originated by private lenders. The VA home loan program is intended to assist qualifying veterans, active-duty military members, and surviving spouses in becoming homeowners by providing attractive loan terms and benefits. The VA home loan program enables veterans and their families to purchase, develop, improve, or refinance a house.

Borrowers must meet specific requirements to be eligible for a VA home loan, including serving a minimum length of active duty service, meeting income and credit score requirements, and obtaining a Certificate of Eligibility from the VA. However, specific requirements may vary depending on the type of VA loan being applied for.

One of the benefits of a VA home loan is that it allows borrowers to buy a home with no money down. Furthermore, VA home loans have competitive interest rates, low closing costs, and no requirement for private mortgage insurance. Another benefit of VA home loans is that they have liberal credit and income requirements, making them more accessible to qualified borrowers.

Apply for a Home Loan in Auburn

Purchasing a home is a monumental achievement, and Capital Home Mortgage can help make the process as simple and joyful as possible. We are a full-service mortgage firm committed to providing outstanding customer service and delivering various mortgage products.

Contact one of our Home Loan Experts at (253) 528-4417 to get started on the path to homeownership!

Why Auburn HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Payment

Auburn Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness
Auburn Mortgage Programs

Auburn Home Purchase loans

Looking to Purchase an Auburn Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.
  • Primary, 2nd Home, Investment
  • Low Rates & Fees, No fee Options
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo & Renovation
  • Manufactured, Construction, Reverse

Auburn Renovation Home Loans

Looking to Rehab an Auburn Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not a renovation loan? Purchase the Perfect Home and make it your own.
  • Remodel, Renovate or Repairs
  • FHA 203K Streamline 
  • FHA Full Documentation Rehab
  • Fannie Mae Homestyle Reno
  • Freddie Mac Home Choice Reno

Auburn FHA Home loans

Great 1st Time Auburn Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.
  • Smaller Down Payments
  • Flexible Underwriting Guidelines
  • Higher Debt to Income Allowed
  • Lower Credit Scores – Down to 500
  • Down Payment Gifts Allowed

Auburn va Home Loans

100% Financing for Auburn Vets

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.
  • No Mortgage Loan Limits
  • Simple Qualifying
  • Higher Debt to Income Allowed
  • Lower Credit Scores – Down to 500
  • Manual Underwriting Allowed

Auburn Conventional Home loans

Flexibility for Auburn Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a loan officer.
  • Primary, 2nd Home, Investment Properties
  • Single and Multi-Family Properties
  • Variable Mortgage Insurance Options
  • Low Rates & a Variety of Mortgage Terms
  • Renovation Programs Available

Auburn Jumbo Home Loans

Auburn Non-Confirming Home Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits. Call today.
  • Primary & 2nd Homes
  • Variety of Mortgage Programs
  • Simple Qualifying for Veterans
  • Investor Specific Guidelines
  • Credit Score Minimums

Auburn USDA Home loans

100% Rural Auburn Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.
  • Primary Residences
  • No Down Payment Required
  • New Manufactured Homes Allowed
  • Closing Costs / Repairs Rolled In
  • Geographic and Income Limits Apply

Auburn Native american Home Loans

Auburn Hud 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.
  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed
  • Purchase, Refinance, and Renovation

Auburn Manufactured Home loans

Great Alternative Auburn Housing

Manufactured Home Loans offer options to purchase an existing residence or build your dream home on your own land. Call today to speak to a Loan Officer.
  • Existing Purchase or Refinance
  • New Construction
  • One Time Close Land/Home Combo
  • Lock at Contract
  • FHA, VA, USDA, Native American

Auburn Reverse Mortgage Loans

Your Auburn Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.
  • Primary Residence Only
  • Simple Qualifying – Equity Based
  • No Credit Score Requirements
  • Minimum Age 62
  • Purchase, Refinance, and Cash-Out

Auburn Non QM Home loans

Making Auburn Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.
  • Purchase, Refinance & Cash-out
  • Primary, Secondary, Investment Properties
  • Full Doc Programs
  • Alt Doc Programs
  • Corporations OK

Auburn One Time Close Home Loans

Build Your Auburn Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.
  • Primary Residences Only
  • One Time Close
  • Lock Rate at Closing
  • Traditional Final Mortgages
  • No Payments During Construction

Auburn Refinance Mortgage loans

Auburn Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.
  • Lower Monthly Payment
  • Shorten Mortgage Term
  • Streamline Options Available
  • Appraisal Waivers Allowed
  • VA IRRRL’s

Auburn Cashout Mortgage Loans

Auburn Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.
  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Dream Vacation
  • Higher Education

Auburn Washington Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

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