FHA Mortgage Lender Bellingham
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
At Capital Home Mortgage, 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 Washington Loan Officers at (360) 474-5656.
Why Bellingham 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
Exceptional Service
7 Day a Week Support Application to Final Mortgage Payment
Bellingham 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
Bellingham FHA Home Purchase Loans

- Simple Qualifying
- Smaller Down Payment
- Seller Paid Closing Costs
- Flexible Underwriting
- Higher Debt to Income Ratios Allowed
- Lower Credit Scores Allowed
- Manufactured Housing OK
Bellingham FHA Refinance Home Loans

FHA 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 Home Loans

FHA offers both a Steamline and Full Rehabilitation Loans. This is a great option for 1st time homebuyers 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
Bellingham Mortgage Programs
Bellingham Home Purchase
Thinking of Buying 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, Secondary, Investment
- FHA, VA, USDA, Native American
- Conventional, Jumbo, Non QM
- Reverse, Renovation, Manufactured
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 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
Bellingham FHA Home Loans
Great for 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 Payment
- Flexible Underwriting
- Higher Debt to Income Ratios
- Lower Credit Scores OK
Bellingham VA Home Loans
100% Financing for Bellingham 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
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
- Great Rates & Low Fees
- Single Family and Multi-Family
- Renovation Loan Programs
Bellingham Jumbo Home Loans
Bellingham 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
Bellingham USDA Home Loans
100% Bellingham 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
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
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
- OTC Land/ Home Combo
- Lock Rate Before Completion
- FHA, VA, USDA, & Native Loans
Bellingham reverse mortgages
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
- credit scores not applicable
- Minimum age 62
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, Rate and Term & Cash-out
- Primary, Secondary and Investment
- Full Doc & Bank Statements Programs
- Corporations OK
Bellingham One Time Close mortgages
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 Residence Only
- Close Once
- Lock Rate at Contract
- Traditional Final Mortgage
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.
- Reduce Mortgage Term
- Lower Monthly Payments
- Appraisal Waivers
- Streamline Options Available
Bellingham Cash-out Home mortgages
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
- Vacation or Education