Capital Home Mortgage Kirkland

Kirkland home purchase loans

Home Purchase lender Kirkland

Home Purchase Loans In Kirkland

Prospective Kirkland home buyers should be prepared to enter a competitive market where homes sell quickly and frequently at or near their prices. Kirkland housing is 212% more costly than the national average. This could be owing to the area’s availability of luxury residences and waterfront properties.

Kirkland Purchase Loan Programs

Here are some of the mortgage loan options in Kirkland, Washington:

  • Conventional Loans

Conventional loans are mortgage loans not insured or backed by a government body like the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA). Private lenders, like banks, credit unions, and mortgage companies, are the ones who give out conventional loans. Fannie Mae and Freddie Mac, government-backed enterprises that buy and back standard mortgages on the secondary market, set the rules for these loans.

Conventional loans may either be conforming or non-conforming. 

      • Conforming Loans

A conforming loan is a conventional loan that adheres to the guidelines established by Fannie Mae and Freddie Mac, the two largest mortgage buyers in the United States. After closing, a conforming loan can be sold to either Fannie Mae or Freddie Mac.

The 2023 conforming loan limits for Kirkland, King County, are $977,500 for a single-unit home, $1,251,400 for a duplex, $1,512,650 for a triplex, and $1,879,850 for a four-plex.

      • Non-Conforming Loans

A non-conforming loan is a mortgage that is not guaranteed in part by a government agency or department. Non-conforming loans do not adhere to Fannie Mae and Freddie Mac’s guidelines, so they cannot be sold to these agencies. 

  • FHA Loans

The Federal Housing Administration (FHA), a United States Department of Housing and Urban Development (HUD) division, insures FHA loans. These loans are intended to assist individuals with low credit scores and non-traditional down payments in acquiring a mortgage. FHA loans are popular because their eligibility requirements are less stringent than conventional loans. 

The eligibility requirements for an FHA loan include the following: a credit score of 580 and up to qualify for the 3.5% down payment advantage, a debt-to-income ratio of less than 45%, a two-year employment and residence history, and the ability to provide income and asset documentation.

The 2023 FHA loan limits in Kirkland, King County, are $977,500 for a one-family property, $1,251,400 for a two-family property, $1,512,650 for a three-family property, and $1,879,850 for a four-family property.

  • VA Loans

A VA home loan is a mortgage loan program administered by the United States Department of Veterans Affairs (VA) to assist qualifying veterans, active-duty service members, and National Guard and Reserves members in purchasing or refinancing a house. The VA home loan program aims to give veterans advantageous terms and assistance.

The eligibility requirements for a VA home loan include proof of military service using the Certificate of Eligibility (COE), an honorable discharge, and satisfactory credit history. They must occupy the property as a primary residence.

  • Jumbo Loans

Jumbo loans are mortgages that exceed the conforming loan limits of any given area. Kirkland’s 2023 conforming loan limit for a single-family unit is $977,500. A loan amount that exceeds $977,500 is considered a jumbo mortgage.

Since they are ineligible for purchase by Fannie Mae and Freddie Mac, jumbo loans are frequently viewed as a higher risk by lenders, who may impose stricter eligibility requirements and higher interest rates.

The eligibility requirements for a jumbo loan in Kirkland include a high credit score of 700 and up, a 10% down payment, a debt-to-income ratio of less than 43%, and adequate cash reserves equal to 6 – 12 months of mortgage payments.

  • Non-Qualified Mortgage Loans

Non-qualified mortgage (non-QM) loans are those that do not meet the requirements of the Consumer Financial Protection Bureau’s (CFPB) Qualified Mortgage (QM) rule. The QM rule, enacted following the 2008 financial crisis, establishes specific standards for mortgage loans to ensure that borrowers can repay their loans, lowering the chance of defaults and foreclosures.

Non-QM loans use alternate ways of income verification to assist borrowers in obtaining a mortgage for their homes. These loans are designed for borrowers with unusual income qualifications, such as being self-employed or needing all the required papers to qualify for a typical mortgage.

  • One-Time Close Construction Loans

A One-Time Close Construction Loan, a “construction-to-permanent” or “single-close” loan, incorporates the construction phase and permanent mortgage into a single loan. This allows you to finance the cost of constructing a new home and seamlessly transition into a long-term mortgage. This strategy can facilitate borrowing and save you money on closing costs and fees.

During construction, funds are disbursed to pay for the home’s construction costs. This may include materials, labor, permits, and other construction-related costs.

Once the construction is complete, depending on the terms you negotiate with your lender, a construction loan may automatically convert into a permanent mortgage, either a fixed-rate or adjustable-rate mortgage (ARM). You will now begin making your mortgage payments regularly.

Apply for a Home Purchase Loan in Kirkland

Capital Home Mortgage provides competitive interest rates, significantly impacting your mortgage’s overall cost. Lower interest rates can reduce monthly payments and the total interest paid throughout a loan. We will collaborate with you to find innovative solutions that meet your specific requirements, especially if you have a non-traditional financial profile.

We offer excellent customer service and provide access to a dedicated loan officer who can guide you through the mortgage application process and promptly answer your questions.

Call (424) 324-9505 to speak with our Kirkland Home Loan Specialists about your home purchase needs.

Why Kirkland 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

Kirkland 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

Kirkland 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

Kirkland 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.

Kirkland 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.

Kirkland Mortgage Programs

Kirkland Home Purchase

Thinking of Buying an Kirkland 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

Kirkland renovation home loans

Looking to Rehab an Kirkland 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

Kirkland FHA Home Loans

Great for 1st Time Kirkland 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

Kirkland VA Home Loans

100% Financing for Kirkland 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

Kirkland Conventional Home Loans

Flexibility for Kirkland 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

Kirkland Jumbo Home Loans

Kirkland 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

Kirkland USDA Home Loans

100% Kirkland 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

Kirkland Native American Home Loans

Kirkland 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

Kirkland Manufactured Home Loans

Great Alternative Kirkland Housing

Kirkland reverse mortgages

Your Kirkland 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

Kirkland Non QM Home Loans

Making Kirkland 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

Kirkland One Time Close mortgages

Build Your Kirkland 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

Kirkland Refinance Mortgage Loans

Kirkland 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

Kirkland Cash-out Home mortgages

Kirkland 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

Kirkland Washington Mortgage Team

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

Kirkland Mortgage Company Reviews

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