Capital Home Mortgage Washington
Washington Mortgage Lender
Home Loans In Washington
The state was founded from the western half of the Washington Territory, which the British Empire gave in 1846 as part of the Oregon Treaty in settlement of the Oregon boundary dispute. It was named after George Washington, the United States’ first president. The Pacific Ocean borders the state on the west, Oregon on the south, Idaho on the east, and the Canadian province of British Columbia on the north. If you are considering making Washington state your permanent home — be it in the city, the suburbs, or the country — you are looking into various mortgage programs to find one that would allow you to afford the house of your dreams. Fortunately, there is a plethora of home loan programs available in Washington.
Type Of Washington Home Loans
There are different home loan programs to finance your home purchase, a conventional-conforming loan being the most commonly used among homebuyers. However, other mortgage options for borrowers wouldn’t qualify for a conventional loan. From government-insured and guaranteed mortgage loans to Non-Conforming home loans, there is a home loan program that meets every borrower’s needs.
Mortgage loans not insured or guaranteed by the federal government fall under conventional loans. Conventional loans can either conform to or not conform to the standards. Mortgages classified as conforming loans adhere to guidelines established by the Federal Housing Finance Agency (FHFA), a government entity overseeing the mortgage industry. Conforming mortgages adhere to the regulations and funding standards Freddie Mac and Fannie Mae set.
Government-sponsored enterprises that dominate the home lending industry include the Federal National Mortgage Association (FNMA, or Fannie Mae) and the Federal Home Loan Mortgage Corporation (FHLMC, or Freddie Mac). Mortgages for one-unit properties (single-family homes) must follow the standardized norms and guidelines established by these quasi-governmental organizations to qualify for the agencies’ support.
Mortgages are not issued by Fannie Mae or Freddie Mac directly. Instead, they serve as secondary market makers and insure mortgages issued by lenders like banks if those lenders decide to sell their mortgages.
FHA Home Loan
A Federal Housing Administration (FHA) loan is a government-insured home loan granted by a bank or lender approved by the agency. They are prevalent among first-time homebuyers. FHA loans require a smaller minimum payment than many conventional loans, and applicants with low credit scores may be eligible.
Under the FHA loan program, prospective homebuyers have multiple programs they may available, from a 203(b) to a home renovation 203(k) loan that incorporates the repair and renovation cost with the purchase price of the house.
FHA loans are the most lenient and most accessible to qualify for as compared to other home loan programs. They only require a credit score of 580 to be eligible for a 3.5% down payment.
VA Home Loan
Private lenders, such as banks and mortgage companies, offer VA home loans. The VA guarantees a portion of the loan, allowing the lender to provide better terms. The Department of Veterans Affairs (VA) offers a benefit called the home loan guarantee and other housing-related programs that can assist you in purchasing, building, repairing, maintaining, or adapting a property for your occupancy.
VA home loans offer no money down, a 0% financing. Benefits associated with a home loan are conditional on the borrower’s duty status, nature of service, and duration of service or commitment to service.
USDA Guaranteed Home Loan
The USDA Section 502 Guaranteed Loan Program provides funding to certified lenders so that people from poor and moderate-income backgrounds in rural areas can purchase homes that meet minimum standards for “adequate, modest, decent, safe, and hygienic.” One hundred percent financing is available for qualified borrowers who want to buy, construct, renovate, improve, or relocate a primary residence located in a rural location. Eligible rural homebuyers can get 100% loans with no down payment through this scheme, which guarantees 90% of the loan amount to the lender.
A loan that does not adhere to the standards set forth by Fannie Mae and Freddie Mac for purchase is referred to as a non-conforming loan. The Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) are government-sponsored organizations that invest in mortgage loans. The Federal Housing Finance Agency establishes the guidelines determining the types of mortgages Fannie Mae and Freddie Mac can purchase. There are two primary reasons why a loan might not conform: either it does not fulfill a criterion that the FHFA established, or the loan amount exceeds the loan limit set by the GSEs. A Jumbo Home Loan is a prime example of a Non-Conforming Loan.
Apply For A Home Loan With Capital Home Mortgage
Capital Home Mortgage Washington is a direct mortgage lender and servicer in Washington, offering a wide variety of mortgage options to suit the needs of its consumers. Whether you were born and raised in Washington or are a newcomer to the state, our expert team at Capital Home Mortgage Washington will endeavor to discover the loan program that best suits your needs and your budget. We are here to assist you with your housing needs, whether that be a first mortgage, a refinance, or a debt consolidation loan.
To begin the process please call our mortgage professionals at (253) 528-4417.
Why Washington HomeBuyers are Choosing Capital Home Mortgage
Close On Time
Complete Control from Application to Funding
Low Rates & Low Fees
Direct Lender with Competitive Rates and Low Fees
7 Day a Week Support Application to Final Mortgage Payment
Washington 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 the mortgage Securities
- Property securing the mortgage
- occupancy of the property
- Loan to value of the property
- Borrower’s credit worthiness
washington Mortgage Programs
washington Home Purchase
Thinking of Buying a Washington 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
washington renovation home loans
Looking to Rehab a Washington 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
washington FHA Home Loans
Great for 1st Time Washington 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
washington VA Home Loans
100% Financing for Washington 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
washington Conventional Home Loans
Flexibility for Washington 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
washington Jumbo Home Loans
Washington 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
washington USDA Home Loans
100% Washington 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
washington Native American Home Loans
Washington 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
washington Manufactured Home Loans
Great Alternative Washington 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
- OTC Land/ Home Combo
- Lock Rate Before Completion
- FHA, VA, USDA, & Native Loans
washington reverse mortgages
Your Washington 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
washington Non QM Home Loans
Making Washington 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
washington One Time Close mortgages
Build Your Washington 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
washington Refinance Mortgage Loans
Washington 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
washington Cash-out Home mortgages
Washington 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