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Mortgage Lender Tacoma Washington

Home Loans In Tacoma, Washington

A port city and third largest city in Washington, Tacoma serves as the center of business activity for the South Sound region, with a population of about 1 million. Tacoma’s real estate market continues to be a seller’s market, with home prices rising 18% from 2021 to 2022.

A mortgage is an agreement between you, the borrower, and a mortgage lender to purchase or refinance a home without having all of the cash up front. This agreement gives lenders the legal right to repossess a property if the borrower fails to meet the loan terms or fails to pay back the money borrowed plus interest.

Different Types Of Mortgages

There are several types of home loans, each with its own set of requirements, interest rates, and benefits.

Mortgages are classified into two types: conforming loans and non-conforming loans. Conforming loans include most conventional mortgages, while government-backed mortgages and jumbo loans are non-conforming.

Let us discuss some of the most common types of loans you may encounter when applying for a mortgage.

  • Conventional Loans

Any loan that is not backed or guaranteed by the federal government is referred to as a “conventional loan.” Conforming loans are frequently used in conjunction with conventional loans. The term “conventional” refers to a private lender’s willingness to make the loan without government assistance, whereas “conforming” refers to the mortgage meeting a set of requirements defined by Fannie Mae and Freddie Mac.

Conventional loans are an excellent option for many homebuyers and only require a down payment as low as 3 – 5% of the home’s purchase price. However, if you put less than 20% down on a conventional loan, you will be required to carry private mortgage insurance, which protects your lender if you default on your loan. It increases your monthly expenses but allows you to move into a new home sooner and with less money required upfront.

  • Jumbo Loans

If you want to buy a home that costs more than the conforming loan limit in the United States, you’ll need to apply for a jumbo loan.

Jumbo loans are classified as non-conforming conventional loans. Because jumbo mortgages exceed conforming loan limits and are provided by private lenders without government incentives, obtaining a jumbo loan will require at least a 20% down payment and loads of paperwork.

  • Government-Insured Mortgages

Most private lenders offer government-backed mortgages in addition to conventional loans. These mortgages are designed to assist first-time homebuyers, low- to median-wage earners, and those with a history of credit problems in purchasing a home. Lenders may refuse to make these loans to high-risk borrowers without government insurance.

  • FHA Loans

Under the Housing and Urban Development (HUD) jurisdiction, the Federal Housing Administration guarantees FHA loans. They are popular among average-income households and individuals because they require a lower down payment and a good credit score. Most lenders will approve an FHA loan with a down payment as low as 3.5 percent and a credit score as low as 580.

  • VA Loans

VA loans are provided as a benefit of service to United States armed forces members and are backed by the Department of Veterans Affairs. They are available to veterans, active-duty military personnel, qualified reservists, eligible National Guard members, and surviving spouses.

VA loans are an excellent option because they allow you to purchase a home with no money down and an upfront fee that you can build into the loan.

  • USDA Loans

USDA loans are only available for homes in eligible rural areas, though many houses near the suburban peripheries qualify as “rural” under the USDA’s definition. To qualify for a USDA loan, your household income cannot exceed 115% of the area’s median income. 

USDA loans are an excellent option for qualified borrowers because they allow you to purchase a home with no money down. For some, the USDA program’s guarantee fees are less expensive than the mortgage insurance premium required for FHA loans.

Tacoma, WA Mortgage Lender

Are you looking to buy a new home in Tacoma, Washington? You owe it to yourself to consult with one of the home loan specialists at Capital Home Mortgage. 

Home loans are not a one-size-fits-all product. This is why we conduct a needs-based analysis of your situation to recommend and offer the best possible home loan for your specific needs.

At Capital Home Mortgage, we strive to make home-buying an enjoyable experience for our clients and make a concerted effort to facilitate a smooth and more affordable home buying experience.

Find A Mortgage That Meets Your Needs

Capital Home Mortgage caters to all types of home buyers. Whether you are a first-timer looking for your dream home or an existing homeowner looking for investment properties, we have home loan products that will accommodate your needs, budget, and personal preferences.

You can count on our experienced and knowledgeable loan officers to provide you with sound advice, guidance, and insight so that you can feel more confident about your decisions. 

Call us at (253) 528-4417 and get started on the path of homeownership!

Why Tacoma 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

Tacoma 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
Tacoma Mortgage Programs

Tacoma Home Purchase

Thinking of Buying an Tacoma 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, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Tacoma renovation home loans

Looking to Rehab an Tacoma Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan?  Purchase the Perfect Home and make it your own. Call today.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

Tacoma FHA Home Loans

Great for 1st Time Tacoma 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 Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

Tacoma VA Home Loans

100% Financing for Tacoma Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

Tacoma Conventional Home Loans

Flexibility for Tacoma 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
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Tacoma Jumbo Home Loans

Tacoma Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Tacoma USDA Home Loans

100% Tacoma Rural 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.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

Tacoma Native American Home Loans

Tacoma 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

Tacoma Manufactured Home Loans

Great Alternative Tacoma Housing

Tacoma reverse mortgages

Your Tacoma 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
  • credit scores not applicable
  • Minimum age 62

Tacoma Non QM Home Loans

Making Tacoma Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

Tacoma One Time Close mortgages

Build Your Tacoma 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 Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage

Tacoma Refinance Mortgage Loans

Tacoma 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.

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Tacoma Cash-out Home mortgages

Tacoma 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
  • Vacation or Education

Tacoma Washington Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Tacoma Mortgage Company Reviews

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