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Federal Way Home Loans

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Mortgage Lender Federal Way Washington

Federal Way Washington Home Loans

Federal Way is the fifth-largest city in King County and the tenth-largest in the state of Washington. Just like the city of Kirkland, the real estate market in Federal Way is very competitive. The average median price of homes is $515,000 and sells in around 34.5 days.

Home Loan Programs in Federal Way

Are you considering purchasing a house in Federal Way, Washington? You’re in luck because several purchase loan programs are available from first-time buyers to seasoned homeowners. The following loan programs are the most prevalent mortgage loans in Federal Way:

  • Federal Way FHA Home Loans

FHA loans are government-backed mortgages insured by the Federal Housing Administration (FHA) and issued by banks or approved-FHA lenders. You may qualify for an FHA loan even with a low credit score or previous bankruptcy.  

The FHA loan limits for King County are $776,250 for a single-family home, $993,750 for a duplex, $1,201,200 for a triplex, and $1,492,800 for a quadplex (Fourplex).

  • Federal Way VA Home Loans

The primary objective of the VA home loan program is to assist veterans in financing the purchase of a home with reasonable loan terms and an interest rate that is often lower than that of other types of mortgage loans. The term “veteran” includes some members of the Selected Reserve, active duty service personnel, and specific categories of spouses for VA home loans. 

Private lenders such as banks, savings and loan institutions, and mortgage companies issue VA-guaranteed loans. The guarantee protects the lender from a loss if you or a subsequent owner fail to repay the loan.

VA loans provide several advantages that make them an appealing financing choice, including:

  • No down payment program;
  • No mortgage insurance;
  • Competitive interest rates;
  • Housing grants are available for veterans with a disability.
  • Federal Way USDA Home Loans

The most frequent USDA loan arrangement involves the USDA guaranteeing a mortgage offered by a private lender. This form of loan provides for low- and no-money-down financing, which can benefit rural buyers who may have a different degree of funds than their urban counterparts.

A portion of King County qualifies for a USDA Rural Development mortgage. USDA loans assist low- and very-low-income borrowers in acquiring secure and clean dwellings in qualifying rural areas. The prospective residence must be located in a USDA-approved rural area. The future homeowner must also meet USDA-established income requirements.

  • Federal Way Conventional Loans

A conventional loan is a mortgage loan granted by a private lender, such as a bank or credit union, and is not insured or guaranteed by the federal government. Conforming loans adhere to the restrictions imposed by Freddie Mac and Fannie Mae, whereas non-conforming loans do not. When measured by market share, conventional loans are the most popular type of mortgage among borrowers in Washington State.

For 2023, the maximum conventional loan amount for a single-family property in King County is $776,250, $993,750 for two units, $1,201,200 for three units, and $1,492,800 for four units.

  • Federal Way Jumbo Loans

Jumbo loans in Federal Way, Washington, are home loans that surpass the Federal Housing Finance Agency’s (FHFA) conforming loan limits. In Federal Way, the conforming loan ceiling for a single-family home is $776,250. Jumbo loans, which the government does not back, are generally used to purchase high-valued residences. Borrowers must meet strict conditions to qualify for one.

Borrowers typically require a credit score of at least 700 and a low debt-to-income ratio to qualify for a jumbo loan. Depending on the lender, the exact requirements will differ; however, borrowers may be required to present additional evidence to show their income and assets. Borrowers may also be required to make a larger down payment to qualify for a jumbo loan. Borrowers may need a 10 – 20% down payment on a single-family home worth up to $2 million.

Apply for a Home Loan in Federal Way

Capital Home Mortgage Federal Way is a direct mortgage lender serving Federal Way, Washington, and the neighboring communities. From application to closing, we handle the entire loan procedure. We can give quick approvals and maintain closings on time. 

Capital Home Mortgage Federal Way provides a wide range of mortgage products, including FHA, Jumbo, Conventional, and Non-qualified mortgages. Contact our Home Loan Experts at (253) 528-4417; we look forward to offering your Federal Way Home Loan.

Why Federal Way 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 Payment

Federal Way 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
Federal Way Mortgage Programs

Federal Way Home Purchase loans

Looking to Purchase a Federal Way 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

Federal Way Renovation Home Loans

Looking to Rehab a Federal Way 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

Federal Way FHA Home loans

Great 1st Time Federal Way 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

Federal Way va Home Loans

100% Financing for Federal Way 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

Federal Way Conventional Home loans

Flexibility for Federal Way 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

Federal Way Jumbo Home Loans

Federal Way 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

Federal Way USDA Home loans

100% Rural Federal Way 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

Federal Way Native american Home Loans

Federal Way 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

Federal Way Manufactured Home loans

Great Alternative Federal Way 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

Federal Way Reverse Mortgage Loans

Your Federal Way 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

Federal Way Non QM Home loans

Making Federal Way 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

Federal Way One Time Close Home Loans

Build Your Federal Way 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

Federal Way Refinance Mortgage loans

Federal Way 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

Federal Way Cashout Mortgage Loans

Federal Way 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

Federal Way Washington Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Federal Way Mortgage Company Reviews

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