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Burien Home Loans

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Mortgage Lender Burien Washington

Home Loans In Burien Washington

Burien is a suburban city in King County, located south of Seattle. Recently listed as the third most walkable city in Washington state, the city has six miles of shoreline and expansive mountain views.

Burien is a diverse community; housing ranges from starter homes to high-end homes, condominiums, and apartments, including senior living. The real estate market in Burien is very competitive, with an average median price of $614k and an average price per square foot of $389.

Home Loan Programs in Burien

Several mortgage loan programs are available in Burien, a conventional-conforming loan being the most prevalent, followed closely by FHA loans. Here’s a short list of home loan programs in Burien:

  • Conventional Loans

A 30-year fixed conventional-conforming loan is Burien’s most commonly used loan program. Borrowers preferred this type of loan due to its predictability and affordability. Since the conforming loan limit in King County is $977,500 for a single-family residence, most properties in the market fall within this guideline.

Conventional loans are mortgages not secured by the federal government. The lender assumes all risk in extending the loan in the event of foreclosure. Because the lender takes all the risk, they require a higher credit score than government-insured loans. The minimum credit score needed to qualify for a conventional loan is 620. They also require a debt-to-income (DTI) ratio of less than 43% to be eligible for financing.

  • FHA Loans

The Federal Housing Administration insures FHA loans under the jurisdiction of the United States Department of Housing and Urban Development (HUD). The federal government insures the loan against default. In the event of foreclosure, the lender doesn’t take a risk. This allows lenders to offer favorable terms to borrowers.

FHA loans are the most lenient mortgage program available. A credit score of 580 is required to qualify for a 3.5% down payment. However, borrowers with scores below 580 down to 500 may still be eligible with a 10% minimum down payment, and certain restrictions will apply.

FHA loans allow a higher debt-to-income ratio compared to conventional loans. Borrowers may have a 55% DTI ratio with compensating factors.

The FHA loan limit for King County is $977,500 for a one-unit property, $1,251,400 for a duplex, $1,512,650 for a tri-plex, and $1,879,850 for a four-plex, respectively.

  • VA Loans

A VA loan is a no-money-down, no mortgage insurance home loan program available to active-duty service members, veterans, and eligible surviving spouses. The US Department of Veterans Affairs guarantees the loan and has relaxed qualification requirements than conventional loans.

To qualify for a VA loan, you or your spouse must meet the Department of Veterans Affairs (VA) minimum service requirements, have a valid Certificate of Eligibility (COE), and meet the lender’s credit and income requirements.

  • Jumbo Loans

A jumbo loan is a conventional non-conforming loan that exceeds the maximum loan limit set by the Federal Housing Finance Agency (FHFA). They are used to finance properties that are too big and expensive for a conventional-conforming loan.

You will need a higher credit score than conventional-conforming loans to qualify for a jumbo loan. A credit score of 700 is typically required to qualify, and some lenders require a higher credit score of 720 and above.

Lenders prefer a DTI ratio of less than 43% and cash reserves of 6 – 12 months of mortgage payments.

Apply for a Home Loan in Burien

Your path to homeownership starts with a phone call to one of our loan specialists. Not only will we assist you in obtaining the home loan you need, but we will also provide any necessary guidance throughout the whole process.

Contact us at (206) 590-2280 to start your path to homeownership!

Why Burien 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

Burien 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
Edmonds Mortgage Programs

Edmonds Home Purchase loans

Looking to Purchase an Edmonds 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

Edmonds Renovation Home Loans

Looking to Rehab an Edmonds 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

Edmonds FHA Home loans

Great 1st Time Edmonds 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

Edmonds va Home Loans

100% Financing for Edmonds 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

Edmonds Conventional Home loans

Flexibility for Edmonds 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

Edmonds Jumbo Home Loans

Edmonds 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

Edmonds USDA Home loans

100% Rural Edmonds 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

Edmonds Native american Home Loans

Edmonds 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

Edmonds Manufactured Home loans

Great Alternative Edmonds 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

Edmonds Reverse Mortgage Loans

Your Edmonds 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

Edmonds Non QM Home loans

Making Edmonds 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

Edmonds One Time Close Home Loans

Build Your Edmonds 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

Edmonds Refinance Mortgage loans

Edmonds 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

Edmonds Cashout Mortgage Loans

Edmonds 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

Burien Washington Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Jordan Mowrey

SR Loan Officer
NMLS 210325

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