Capital Home Mortgage Lacey

Lacey home purchase loans

Home Purchase lender Lacey

Home Purchase Loans In Lacey

The Lacey, Washington, real estate market is competitive and a seller’s market. Single-family detached homes are Lacey’s most prevalent housing variety, comprising 62.72 percent of the city’s dwellings. Three- and four-bedroom single-family detached residences predominate in Lacey in terms of building size and composition. 

Purchase Loan Programs in Lacey

Home buyers in Lacey have various home loan programs to choose from. The most prevalent among them are the following:

  • Conventional Loans

A conventional mortgage in Lacey, Washington, is not insured or guaranteed by the federal government. This distinguishes it from government-backed mortgages such as FHA and VA. Conventional loans are the most common mortgage type among borrowers when measured by market share.

A conventional conforming loan in Lacey, Washington, is a type of mortgage that satisfies the Federal Housing Finance Agency’s (FHFA) loan limits and Fannie Mae and Freddie Mac’s guidelines. The 2023 conforming loan limits in Lacey, Thurston County, are $726,200 for a single-family home, $929,850 for a duplex, $1,123,900 for a triplex, and $1,396,800 for a quadplex.

To qualify for a conventional conforming loan in Lacey, Washington, borrowers must satisfy specific criteria. These may include a decent credit score, a stable employment history, and sufficient monthly income to cover the mortgage payment. Generally, a FICO credit score of 620 or higher is required for conventional loan approval. The precise requirements will differ based on the funder and loan program.

  • FHA Loans

An FHA home loan is a mortgage insured by the Federal Housing Administration (FHA), a division of the United States Department of Housing and Urban Development (HUD). FHA loans in Lacey, Washington, are specifically designed to assist borrowers who may not qualify for a conventional mortgage. They provide reasonable interest rates and more flexible qualification requirements. One distinguishing characteristic is the low down payment, which can be as little as 3.5% of the purchase price, making it an appealing alternative for first-time homebuyers or those with limited financial resources.

One of the benefits of an FHA loan is the possibility of qualifying with a credit score as low as 580. In addition, FHA loans typically have lower interest rates, and applicants may use family gifts, grants, or employer assistance programs to cover the down payment.

A minimum credit score of 580 is typically required to qualify for an FHA loan in Lacey, Washington, although some lenders may require a higher score. An FHA-approved appraiser must appraise the property, and borrowers must provide evidence of two years of consistent income and employment. Notably, mortgage insurance premiums (both initial and annual) are required, increasing the loan’s long-term cost but allowing for more flexible eligibility requirements.

The 2023 FHA loan limits for Lacey, Thurston County, are $546,250 for a 1-unit home, $699,300 for a duplex, $845,300 for a triplex, and $1,050,500 for a quadplex.

  • VA Loans

A VA home loan in Lacey, Washington, is a mortgage program guaranteed by the U.S. Department of Veterans Affairs and designed to help eligible veterans, active-duty service members, and certain National Guard and Reserves members purchase a home. The VA guarantees a portion of the loan, allowing lenders to offer more advantageous terms, such as no down payment and no private mortgage insurance (PMI). Conventional mortgages typically have higher interest rates and stricter credit requirements than VA loans.

The absence of a down payment requirement and the absence of the need for private mortgage insurance (PMI) are key features and advantages of a VA home loan, which can substantially reduce monthly mortgage payments. In addition, VA loans typically have lower interest rates and closing costs, making them one of the most affordable mortgage options for qualified applicants. Additionally, there is no prepayment penalty, allowing you to refinance or pay off the loan early without incurring additional fees.

To qualify for a VA home loan, you must fulfill specific service requirements, such as 181 days of active duty during peacetime, 90 days during wartime, or six years in the Reserves or National Guard. Also eligible are spouses of service members who died in the line of duty or due to a service-related disability. The minimum credit score varies by issuer but is typically lower than conventional loans. In addition, you’ll need a Certificate of Eligibility (COE) to demonstrate your service record and terms.

  • USDA Loans

The United States Department of Agriculture guarantees a USDA mortgage loan in Lacey, Washington. USDA loans are designed to encourage homeownership in rural and suburban areas and offer options with no down payment and competitive interest rates. The USDA Guaranteed Home Loan, one of the more popular varieties of USDA loans, allows lenders to offer more favorable loan terms to low- to moderate-income families, as the USDA guarantees a portion of the loan, thereby reducing the lender’s risk.

Key features and benefits of a USDA Guaranteed Home Loan include no down payment, no private mortgage insurance (PMI), and typically reduced interest rates compared to other mortgage types. Additionally, USDA loans usually allow for 100 percent financing so that you can purchase a property without a down payment.

To qualify for a USDA-guaranteed home loan in Lacey, Washington, you must satisfy income requirements that vary based on location and household size. The property you’re interested in must be located in a USDA-designated rural or suburban area. In addition, applicants must possess a minimum credit score that varies from lender to lender but is typically around 640. Lastly, you must have a stable job and demonstrate that you can afford the monthly mortgage payments.

  • Jumbo Loans

A jumbo loan in Lacey, Thurston County, Washington, is a mortgage that exceeds the Federal Housing Finance Agency’s (FHFA) conforming loan limits. In Lacey, Thurston County, a jumbo loan is any mortgage that exceeds $726,200. Federal agencies like FHA, VA, or USDA loans do not guarantee these loans, so qualification standards are typically stricter. Jumbo loans are ideal for buyers of high-priced properties that exceed the limits of conventional mortgages.

One of the primary benefits of a jumbo loan is the ability to finance a luxury or expensive property without requiring multiple mortgages. The interest rates on jumbo loans are typically competitive, and some programs offer adjustable-rate mortgage options. This can be advantageous for borrowers with the financial resources to manage more significant loan amounts and search for properties in high-cost areas where conventional loan limits are inadequate.

To qualify for a jumbo loan in Lacey, Washington, borrowers typically need a solid credit history. Typically, this consists of a credit score of 700 or higher, a low debt-to-income ratio, and substantial cash reserves. Additionally, a larger down payment of 20% or more of the home’s purchase price is typically required. In addition to requiring extensive documentation of income, assets, and employment history due to the higher loan amounts and associated risks, lenders usually require comprehensive documentation of income, assets, and work history.

Apply for a Lacey Home Purchase Loan

Capital Home Mortgage offers competitive interest rates, various mortgage options, including FHA, USDA, VA, and jumbo loans, and personalized, local assistance to guide you through the home buying process in Lacey, Washington. Capital Home Mortgage simplifies the complexities of mortgage financing by providing quick approvals and flexible terms tailored to your specific financial requirements, making the path to homeownership smooth and uncomplicated.

Call (360) 474-5656 to speak with our Lacey Home Loan Specialists about your home purchase loan options.

Why Lacey 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

Lacey 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

Lacey 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

Lacey 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.

Lacey 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.

Lacey Mortgage Programs

Lacey Home Purchase

Thinking of Buying an Lacey 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

Lacey renovation home loans

Looking to Rehab an Lacey 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

Lacey FHA Home Loans

Great for 1st Time Lacey 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

Lacey VA Home Loans

100% Financing for Lacey 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

Lacey Conventional Home Loans

Flexibility for Lacey 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

Lacey Jumbo Home Loans

Lacey 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

Lacey USDA Home Loans

100% Lacey 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

Lacey Native American Home Loans

Lacey 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

Lacey Manufactured Home Loans

Great Alternative Lacey Housing

Lacey reverse mortgages

Your Lacey 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

Lacey Non QM Home Loans

Making Lacey 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

Lacey One Time Close mortgages

Build Your Lacey 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

Lacey Refinance Mortgage Loans

Lacey 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

Lacey Cash-out Home mortgages

Lacey 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

Lacey 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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