Washington VA Home Loans
You Earned Them... Put Your VA Benefits to Work Today!
Simple qualifying for veterans
NO Down Payment Requirements
Flexible Underwriting Guidelines
Higher Debt to Income Ratios
Lower Credit Scores Allowed

Benefits of a Washington VA Home Loan

What is a Washington VA Mortgage Loan

Washington VA Home Loans are for active duty service members, active reservists, honorably discharged service members, as well as retired and disabled service members. VA stands for “Veterans Administration”, which oversees all Veteran benefits including home loans. Established in 1944 and part of the GI Bill or Rights, VA set out to help men and women who served their country catch up to their civilian counterparts by establishing credit and building financial wealth. It’s important to understand that VA does not lend money, VA instead provides lenders a guarantee that covers the lender from loss in the event of foreclosures.  In simple terms VA insures a portion of the loan that the buyer  would have normally had to put down to qualify allowing for a zero down payment. VA loans require an upfront mortgage insurance fee, which can be financed into the loan, from each borrower.  This fee supports the guarantee fund and makes the 100% VA home loan possible.  Veterans with a minimum of 10% disability are exempt from the funding fee.

Washington VA Purchase Loan

  • No Down Payment / No Loan Limits
  • No Monthly Mortgage Insurance Required
  • Simple Qualifying/ Flexible Underwriting
  • Seller Paid Closing Costs up to 4%
  • Higher Debt to Income Ratios Allowed
  • Alternate Credit Allowed
  • Manufactured Housing Permitted (Subject to Restrictions)

Washington VA Refinance Loan

  • Streamline Option – VA IRRL Rate and Term
    • No Appraisal / No Income Verifiction Required
  • Full Documentation
    • Cashout Option / Loan Conversions
  • Closing Costs Can Be Rolled In

Washington VA Loan Requirements

  • Active Duty – 90 days Wartime / 180 Days Peacetime
  • Honorable Discharged – 22 Months of Completed Service
  • National Guard / Reserves – 6 Years Completed Service
  • Spouse of a Service Member who Died in the line of Duty or as a result of Sevice realted Disability

Washington VA Funding Fees

  • VA Purchases
    • First Use
      • 0% to 5% Down Funding Fee = 2.3%
      • 5% or Higher Down Payment Funding Fee = 1.65%
    • Subsequent Uses = Funding Fee 3.3%
  • VA Cashout Refinances or  VA Refinance Conversions
    • First Use = 2.3% / Subsequent Uses 3.
  • VA IRRL Refinance 0.5%
  •  No Funding Fee with 10% or Higher Disability

Capital Home Mortgage Washington VA Mortgage Team

Dale Gremillion

Loan Officer #210325

Amy Bird

Loan Officer #169849

George Williams

Loan Officer #9927

Matt Williams

Loan Officer #1945867

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