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Home Loans In Edmonds Washington

Edmonds is a city in Snohomish County, part of the Seattle metropolitan area, located 15 miles north of Seattle. It is the third most populous city in Snohomish County. The housing market in Edmonds is very competitive, with an average median price of $815k and an average price per square footage of $443.

Home Loan Programs in Edmonds

With an average median price of $815k, plenty of home loan programs are offered in Edmonds, a conventional loan being the most prevalent. Here are the most commonly used mortgage programs in Edmonds:
  • Conventional – Conforming Loans

Conventional-conforming loans are the most commonly used mortgage loan in Edmonds, Snohomish County. A conventional mortgage is a home loan not part of any government program. Private lenders offer them and can either be conforming or non-conforming. A conforming loan is a mortgage that meets the guidelines and funding criteria of the government-sponsored enterprises Fannie Mae and Freddie Mac. They also meet the maximum loan limit set by the Federal Housing Finance Agency. They are underwritten by lenders and sold to Fannie Mae or Freddie Mac once securitized. The minimum credit score requirement to qualify for conventional-conforming loans is 620. Depending on the borrower’s credit score, the down payment is 3 – 5% of the purchase price. They also have a strict debt-to-income ratio of 45%. For 2023, the conforming loan limit in Snohomish County is $977,500 for a 1-unit property, $1,251,400 for a duplex, and $1,512,650 for a duplex a tri-plex, and $1,879,850 for a four-plex, respectively.
  • FHA Loans

FHA home loans are mortgages insured by the Federal Housing Administration (FHA) under the umbrella of the United States Department of Housing and Urban Development (HUD). FHA loans are designed to help low- to moderate-income families attain homeownership through the mortgage insurance program.  The Federal Housing Administration doesn’t directly extend these loans; instead, FHA-approved lenders offer them. By insuring the loan against future default, lenders may offer a more favorable term than conventional loans. They are considered the most accessible home loan program, with a minimum credit score of 580 required to qualify. The down payment requirement is 3.5% of the purchase if your scores are 580 and above. However, with scores between 500 – 579, you may still be eligible with a minimum down payment of 10% and expect some restrictions to apply. The FHA loan limit in Snohomish County for 2023 is $977,500 for a single-family residence. If you purchase a two-unit property, the loan amount may go as high as $1,251,400. Borrowers for a three-unit property have a $1,512,650 maximum loan amount, and a four-unit property’s loan limit is $1,879,850.
  • VA Loans

VA home loans are mortgages offered by private lenders and guaranteed by the US Department of Veterans Affairs. Active-duty service members, veterans, and qualified surviving spouses can finance a house with no down payment, no mortgage insurance, and lenient credit requirements with a VA loan. The VA pledges to pay a specific dollar amount to the lender on behalf of each veteran if they default on a loan. This is the reassurance lenders need to give military borrowers credit under the relatively relaxed requirements of a VA loan. The eligibility requirements of VA loans include: (a) s minimum service requirement, (b) a valid Certificate of Eligibility (COE), © a steady work history, and (d) the ability to afford the monthly payments of the proposed housing expense.
  • USDA-Guaranteed Home Loans

A USDA home loan is a no-money-down mortgage available to homebuyers in eligible rural areas. USDA loans are backed by the USDA Rural Development Guaranteed Housing Loan Program, run by the United States Department of Agriculture. The USDA guarantees a mortgage issued by a local lender, enabling borrowers to qualify for affordable mortgage interest rates without making a down payment. While PMI is not required, borrowers must pay an upfront fee of 1% and an annual fee of 0.35% of the loan balance, which is amortized over the course of monthly installments. Typically, this is less expensive than traditional PMI. To be eligible for a USDA-guaranteed home loan, the borrower’s household income must not exceed 115% of the area median income. Lenders typically require a credit score of 640, and borrowers must either be US citizens or lawfully-admitted resident aliens. 
  • Jumbo Loans

A jumbo loan is a conventional non-forming loan that exceeds the Federal Housing Finance Agency’s (FHFA) conforming loan limits and Fannie Mae and Freddie Mac’s funding guidelines. They are primarily used to fund the purchase of a luxury home or properties with high values. The basic eligibility requirements of jumbo loans are a high credit score, low debt-to-income ratios, and adequate reserves. Lenders typically require a credit score of 700; some lenders require a score of 720 and above. The maximum DTI ratio is 43%, and borrowers must have reserves of 6 – 12 months, at a minimum.

Apply for a Home Loan in Edmonds

Get the best home loan in Edmonds by speaking with one of our loan officers at Capital house Mortgage. We would be delighted to offer you the advice and information you require to help you buy a home with more assurance.  To learn more about our home loan programs or get a free, no-obligation quote, contact us at (425) 324-9505
Why Edmonds 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

Edmonds 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
Edmonds Mortgage Programs

Edmonds Home Purchase loans

Looking to Purchase an Edmonds 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

Edmonds Renovation Home Loans

Looking to Rehab an Edmonds 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

Edmonds FHA Home loans

Great 1st Time Edmonds 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

Edmonds va Home Loans

100% Financing for Edmonds 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

Edmonds Conventional Home loans

Flexibility for Edmonds 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

Edmonds Jumbo Home Loans

Edmonds 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

Edmonds USDA Home loans

100% Rural Edmonds 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

Edmonds Native american Home Loans

Edmonds 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

Edmonds Manufactured Home loans

Great Alternative Edmonds 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

Edmonds Reverse Mortgage Loans

Your Edmonds 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

Edmonds Non QM Home loans

Making Edmonds 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

Edmonds One Time Close Home Loans

Build Your Edmonds 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

Edmonds Refinance Mortgage loans

Edmonds 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

Edmonds Cashout Mortgage Loans

Edmonds 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

Edmonds Washington Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Edmonds Mortgage Company Reviews

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