Capital Home Mortgage Bremerton

Bremerton FHA home loans

FHA Mortgage Lender Bremerton Washington

FHA Home Loans Bremerton 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 Bremerton

At Capital Home Mortgage Bremerton, 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 Bremerton Washington Loan Officers at (360) 474-5656.

Why Bremerton 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

Bremerton 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

Bremerton FHA Home Purchase Loans

FHA Purchase Mortgage Lender
FHA Home Loans are mortgage loans for 1st time home buyers, 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.  This 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 Allowed
  • Lower Credit Scores Allowed
  • Manufactured Housing OK

Bremerton FHA Refinance Home Loans

FHA Refinance Mortgage 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

Bremerton FHA Renovation Home Loans

FHA 203K Mortgage 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
Bremerton Mortgage Programs

Bremerton Home Purchase loans

Looking to Purchase a Bremerton 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

Bremerton Renovation Home Loans

Looking to Rehab a Bremerton 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

Bremerton FHA Home loans

Great 1st Time Bremerton 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

Bremerton va Home Loans

100% Financing for Bremerton 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

Bremerton Conventional Home loans

Flexibility for Bremerton 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

Bremerton Jumbo Home Loans

Bremerton 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

Bremerton USDA Home loans

100% Rural Bremerton 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

Bremerton Native american Home Loans

Bremerton 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

Bremerton Manufactured Home loans

Great Alternative Bremerton 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

Bremerton Reverse Mortgage Loans

Your Bremerton 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

Bremerton Non QM Home loans

Making Bremerton 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

Bremerton One Time Close Home Loans

Build Your Bremerton 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

Bremerton Refinance Mortgage loans

Bremerton 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

Bremerton Cashout Mortgage Loans

Bremerton 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

Bremerton Washington Mortgage Team

Jordan Mowrey

Sr Loan Officer
NMLS 1604319

Dale Gremillion

Manager / Sr Loan Officer
NMLS 210325

Conor Hayhurst

Manager / Sr Loan Officer
NMLS 743506

Brad Rund

Director Native American Lending
Director Manufactured Housing

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