Capital Home Mortgage Bellingham

Bellingham home purchase loans

Home Purchase lender Bellingham Washington

Home Purchase Loans In Bellingham Washington

While Bellingham homebuyers can expect a very competitive market, there are hints of stabilization. Prospective purchasers should be prepared for numerous offer scenarios and be aware of broader economic indicators that may impact the local market. Home prices are being influenced by rising inventory. The greater Washington state slowdown emphasizes that buyers must prepare well to make solid financial judgments in the current environment.

Purchase Loan Programs in Bellingham

Buyers in Bellingham are recommended to pre-qualify before beginning their home search. This pre-qualification will give them an idea of what they can afford based on the type of loan and the terms they qualify for.

There are various mortgage loans available for home buyers in Bellingham. Among them are the following:

  • Conventional – Conforming Loans

Mortgage loans that adhere to the criteria and parameters established by government-sponsored enterprises (GSEs) such as Fannie Mae and Freddie Mac are known as conventional conforming loans. These loans “conform” to the rules established by these companies, which include loan limits, credit requirements, and underwriting guidelines. 

The 2023 conforming loan limits for Bellingham, Whatcom County, are $726,200 for a 1-unit property, $929,800 for a 2-unit property, $1,123,900 for a 3-unit home, and $1,396,800 for a quadplex.

While these loans follow Fannie Mae and Freddie Mac guidelines, individual lenders may have their own extra criteria and underwriting requirements. Borrowers who may not match the rigorous eligibility standards for a conforming loan may want to consider government-backed FHA or VA loans, which frequently have more flexible eligibility restrictions.

  • FHA Loans

FHA home loans are mortgages insured by the Federal Housing Administration under the U.S. Department of Housing and Urban Development jurisdiction, commonly known as HUD. FHA loans are popular among first-time home buyers and those with less-than-perfect credit due to their lenient qualification requirements.

The loan has advantages, such as a low down payment and refinancing options, but it also has disadvantages, such as mortgage insurance fees and lower loan limits. Borrowers with credit scores of 580 or better are only required to put down 3.5%. A 10% down payment is required for home buyers with credit scores between 500 and 579.

The 2023 FHA loan limits for Bellingham, Whatcom County, are $726,200 for a single-family residence, $929,800 for a duplex, $1,123,900 for a triplex, and $1,396,800 for a four-plex, respectively.

  • VA Loans

A VA home loan, available in Bellingham, Washington, and throughout the country, is a specialized loan program for veterans, active-duty service members, and some surviving spouses. The VA offers eligible veterans, service members, and surviving spouses a home loan guarantee benefit. Private lenders typically provide the loan, but the Department of Veterans Affairs guarantees it, which can result in more favorable terms for the borrower.

The eligibility requirements for VA home loans are frequently based on duration of service, commitment, duty status, and character. For example, members of the National Guard are eligible after 90 days of active duty, which must include 30 consecutive days under specific provisions. A valid Certificate of Eligibility (COE) is frequently required, and the applicant must have sufficient income and an acceptable credit history.

VA home loans have advantages, such as no down payment requirement and appealing terms. One of the significant advantages of VA home loans is that there is no required down payment. However, some lenders may still require it. VA-backed loans usually have competitive interest rates, relatively low closing costs, and no need for Private Mortgage Insurance (PMI).

  • USDA Loans

The USDA Guaranteed Home Loan Program’s principal goal is to assist low and moderate-income households in purchasing homes in designated rural areas. It provides 100% funding for the purchase, construction, rehabilitation, improvement, or relocation of a home.

Lenders receive a 90% loan note guarantee, reducing the risks of providing 100% loans to qualified rural homebuyers. The loan terms typically include 30-year fixed interest rates, with variable interest rates across lenders.

Eligibility requirements for USDA home loans include an income restriction of less than 115% of the area median income, being a U.S. citizen or qualified alien, occupying the property as a primary residence, and the property being located in a USDA-designated eligible rural area. 

  • Jumbo Loans

Jumbo loans are conventional non-conforming loans that exceed the Federal Housing Finance Agency’s (FHFA) conforming loan restrictions. Single-family mortgages greater than $726,200 in Bellingham, Whatcom County, will be defined as jumbo in 2023.

Jumbo loans in Bellingham, Washington, are appropriate for high-value properties and allow borrowers to acquire larger amounts than conforming loan restrictions. Their adaptability, customized programs, and competitive rates from specialized lenders make them a feasible choice for people looking to purchase property in high-cost places.

Apply for a Bellingham Home Purchase Loan 

When considering Capital Home Mortgage’s home purchase loan programs, Bellingham homebuyers enjoy a variety of advantages. The financial assistance, education, and flexible payment terms constitute a comprehensive system of support that facilitates the home-buying process.

Call (360) 474-5656 to speak with one our Bellingham’s Home Loan Specialists for your home purchase loan needs.

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 & 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 mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Bellingham Home Purchase Loans

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 fixed rate Mortgage Loans

All Fixed Rate Mortgage Loans are designed to have equal payments for the specified term. These loans offer predictability and are deemed to be less risky for borrowers. Fixed Rate Mortgage Loans are available with all mortgage products and are typically offered in 15 year and 30 year terms. However, Fixed Rate Mortgage Loans are also offer in 10 year, 20 year and 25 year terms although less common due to demand.

Bellingham Adjustable Rate Mortgage Loans

Adjustable Rate Mortgage Loans known as ARM’s are  available with most mortgage products although limited with FHA, VA and USDA. ARM’s are great fit for homebuyers who plan to sell or refinance their home between 1 and 10 years and are looking for the lowest possible payment.  ARM’s offers lower rates during times where fixed rates are higher. An adjustable rate mortgage is fixed for a specific time then adjusts on a predetermined time period and a predetermined amount based on a financial index and a fixed margin.

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 Properties
  • Single and Multi-Family Properties
  • Variable Mortgage Insurance Options
  • Low Rates & a Variety of Mortgage 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 Properties
  • 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

Bellingham Washington Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

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