Bellingham FHA Home Loans

Bellingham FHA Mortgage Lender

Welcome to Capital Home Mortgage Bellingham, a Bellingham FHA Mortgage Lender, that strives to provide Bellingham homebuyers and homeowners Bellingham FHA Home Loans at competitive Bellingham FHA Mortgages Rates with low fees while ensuring outstanding customer service.  Whether you are a first time home buyer, looking to purchase in the city or country, or a repeat buyer a Bellingham FHA Home Mortgage might be right for you.  We understand that purchasing a home is the most important decision of most people’s life, which is why Capital Home Mortgage Bellingham offers dedicated points of contact throughout the mortgage process.  This assures a stress-free experience resulting with an on-time closing.

Capital Home Mortgage Bellingham is a direct Bellingham FHA Mortgage Lender that manages the entire lending process from beginning to end.  Our in-house processing and underwriting enables for quick, common sense approvals and timely closings.  We have complete control over everything from the application to the funding process.

Call today (360) 474-5656 to talk to one of our Bellingham Loan Officers.

FHA Home Loans Bellingham Washington 

An FHA-insured loan is backed by the Federal Housing Administration’s (FHA) mortgage insurance and given by a lender that the FHA has approved. FHA mortgage insurance protects lenders against losses. In the past, they have made it possible for people in the United States with lesser incomes to borrow money and buy homes they otherwise could not afford.

Compared to conventional loans, FHA loans offer several benefits. They have more flexible credit and income restrictions, which is an excellent choice for those who might not be eligible for conventional loans. FHA loans require a lower down payment, typically 3.5% of the home’s purchase price. First-time homebuyers may find it easier to buy houses. 

FHA loans have less stringent restrictions on the kinds of homes that may be acquired and higher debt-to-income ratios. Additionally, because the Federal Housing Administration backs FHA loans, lenders can feel better knowing they will be compensated if a borrower defaults on the loan.

How To Qualify For An FHA Loan

There are several requirements a prospective homebuyer need to meet to qualify for an FHA loan.

  • Credit

Borrowers will need a credit score of 580 or above to be eligible for the low down payment option of 3.5%. Because of the minimal down payment required and less-than-perfect acceptable credit, being approved for an FHA loan is typically one of the more straightforward mortgage loans available. 

Applicants with FICO scores lower than 580 may still be eligible for an FHA loan; however, they must make a minimum down payment of 10 percent and comply with any other applicable requirements.

  • Income

Generally, the requirements for qualifying for an FHA loan are less stringent than those for a conventional loan. The maximum debt-to-income ratios are 31% and 43%. This indicates that the monthly debt load should be 43% of the monthly income, while the housing payments should be 31% of the gross monthly income. However, with compensatory factors, these recommendations permit larger ratios of up to 56.9%.

  • Assets

The asset requirement for an FHA loan includes a minimum 3.5% down payment. In addition, the borrower is expected to maintain a minimum amount of reserves. Typically, these reserves comprise one month’s worth of principal, interest, property taxes, insurance, and, if necessary, homeowners association dues. The reserves must come from the borrower’s own funds; they cannot be gifts, seller concessions, or lender credits.

For assets to count, they must have been seasoned for sixty days or be sourced. Cash deposits that cannot be sourced cannot be used as a borrower’s asset.

Notably, asset requirements will be defined in terms of PITI (Principal Interest Taxes and Insurance), which means you’ll need sufficient funds to cover a certain number of months’ worth of mortgage payments, including principal, interest, taxes, homeowners insurance, mortgage insurance, and HOA dues, if applicable.

Documents Needed For An FHA Loan

After completing a loan application, several supporting documents are required. The lender will need the following documents that include but are not limited to:

  • Personal Identification (e.g., Driver’s License, State issued ID, Passport, etc.);
  • Social Security Card;
  • Recent 30-day paycheck stubs;
  • Past two years W2s;
  • Recent two months’ bank statements;
  • Most recent retirement account statement;
  • Last two years signed tax returns, if self-employed;
  • Divorce Decree and Child Support Orders, if applicable.

Apply For An FHA Loan With Capital Home Mortgage Bellingham

At Capital Home Mortgage Bellingham, we recognize that securing a home loan can be difficult. We’ve made it our duty to prevent you from having a similar experience. To initiate your application, contact our Bellingham Washington Loan Officers at (360) 474-5656.

Bellingham FHA Mortgage Rates

What is A Bellingham FHA Loan?

FHA stands for Federal Housing Administration has been helping American families secure housing since 1934. And this commitment to affordable homeownership lives to this day through the FHA home loan program, which plays an indispensable role in the country’s economy.

FHA home loans are a popular option for homebuyers in Bellingham and across the United States, particularly for those who may have lower credit scores or smaller down payments.  FHA loan limits vary by county and are subject to change.  These limits determine the maximum loan amount borrowers can qualify for based on the location of the property.  Contact us today to find out your current FHA loan limits for Bellingham counties.

Bellingham FHA loans is that they typically require a lower down payment compared to conventional loans.  The minimum down payment for an FHA loan is 3.5% of the home purchase price.  Bellingham FHA loans are known for being more lenient with credit score requirements compared to some conventional loans.  While there isn’t a specific minimum credit score required, borrowers with lower credit scores may still be eligible. Lenders may consider other factors, such as the borrower’s debt-to-income ratio.

FHA loans require mortgage insurance, which consists of both an upfront premium at the time of closing and an annual premium paid monthly.  The mortgage insurance helps protect the lender in case the borrower defaults on the loan.

The property being financed with an FHA loan must meet certain standards set by the FHA.  This includes basic safety and livability requirements.  FHA appraisers will assess the property to ensure it meets these standards.

It’s important to note that loan terms and requirements can change, so its important to speak with a for the most up-to-date information on FHA home loans in Bellingham.

Bellingham FHA Purchase Loans

Bellingham FHA Loans are mortgage loans for 1st time homebuyers, buyers with limited credit, buyers with less than perfect credit and buyers with higher debt to income ratios.  As the goal of FHA is to make homeownership more attainable, FHA underwriting guidelines are less strict than other mortgage loan programs.  The FHA flexibility allows for easier loan qualification making the barrier to homeownership less challenging.

  • Simple Qualifying
  • Smaller Down Payment
  • Seller Paid Closing Costs
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores Allowed
  • Manufactured Housing OK

Bellingham FHA Refinance Loans

Bellingham FHA Loans offers a streamline refinances that simply reduces the interest rate and lowers the payment or shortens the term of the loan.  This rate and term option can be fully documented loans, or can be reduced documentation.  The other FHA option is a cash-out refinance allowing homeowners the ability to access the equity in the property.

FHA Standard Refinance

  • Appraisal Required
  • 97.75% Max Loan to Value
  • Closing Costs Can Be Rolled In
  • 80% Max Loan to for Cash-out
  • Cash-out Option Available
  • County Loan Limits Apply

FHA Streamline Refinance

  • FHA to FHA
  • No Income Qualification
  • No Appraisal Required
  • Closing Costs Cannot Be Rolled In
  • No Lates on Mortgage in Last Year
  • Payment Must Drop on Fixed Rates

Bellingham FHA Renovation Loans

Bellingham FHA offers both a Streamline and Full Rehabilitation Loans.  This is a great option for 1st time Bellingham home buyers looking to purchase a home that needs a little TLC.

  • Purchase & Refinance Options
  • Primary Residences Only
  • Single, Multi Family & Condo’s
  • As-Is Improved Renovated Value
  • 203K Streamline
  • Less < 35K, Cosmetic Repairs Only
  • 203K Full Rehab
  • Greater > 35K, No Restrictions

Apply for a Bellingham FHA Home Loan Now with Capital Home Mortgage Bellingham

Even with mortgage interest rates continuing to move, now is an excellent time to buy a home.  Financing is possible with a Bellingham FHA Home Mortgage for most people even with a few bumps on the credit history.  Our Bellingham FHA loan specialists at Capital Home mortgage can answer any questions and help you determine whether the FHA loan is the best choice.  Call today (360) 474-5656 to talk to one of our Bellingham FHA Loan Officers.

Why Bellingham is Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Fees

Exceptional Service

7  Day a Week Support Application to Final Payment

Bellingham Mortgage Company Reviews
Bellingham Mortgage Team
Dale Gremillion
Sr Loan Officer
NMLS #210325
Conor Hayhurst
Branch Manager
NMLS #743506
Amanda Ravello
Sr Loan Officer
NMLS #1702894
Bellingham Mortgage Programs
Bellingham Home Purchase loans
Looking to Purchase a Bellingham 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
Bellingham Renovation Home Loans
Looking to Rehab a Bellingham 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
Bellingham FHA Home loans
Great 1st Time Bellingham 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
Bellingham va Home Loans
100% Financing for Bellingham 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
Bellingham Conventional Home loans
Flexibility for Bellingham 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
  • Single and Multi-Family Properties
  • Variable Mortgage Insurance Options
  • Low Rates & a Variety of Terms
  • Renovation Programs Available
Bellingham Jumbo Home Loans
Bellingham 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
Bellingham USDA Home loans
100% Rural Bellingham 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
Bellingham Native american Home Loans
Bellingham 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
Bellingham Manufactured Home loans
Great Alternative Bellingham 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
Bellingham Reverse Mortgage Loans
Your Bellingham 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
Bellingham Non QM Home loans
Making Bellingham 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
  • Full Doc Programs
  • Alt Doc Programs
  • Corporations OK
Bellingham One Time Close Home Loans
Build Your Bellingham 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
Bellingham Refinance Mortgage loans
Bellingham 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
Bellingham Cashout Mortgage Loans
Bellingham 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
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