Capital Home Mortgage Lakewood

Lakewood home purchase loans

Home Purchase lender Lakewood

Home Purchase Loans In Lakewood

The housing market in Lakewood, Washington, is highly competitive. Homebuyers should anticipate competition and be prepared to act swiftly to secure the property of their choice. 

Purchase Loan Programs in Lakewood

  • Conventional Loans

Conventional mortgages in Lakewood, Washington, are mortgages from private lenders with variable or fixed interest rates. The government does not back them and offers wide availability, higher limits, and low down payments. Typical eligibility requirements include a credit score of 620 or higher, a low debt-to-income (DTI) ratio, a 3 – 5% down payment, and evidence of stable income and employment. Private Mortgage Insurance (PMI) is cancellable when 20% equity is attained, regardless of the property type or down payment. The loan may also require property evaluations.

Advantages of conventional mortgages include program flexibility, benefits for excellent credit, and reduced down payments. They permit quicker processing and are suitable for stable-income consumers, including self-employed individuals. Conforming and nonconforming loans are two categories of conventional loans, with conforming loans following Fannie Mae and Freddie Mac’s guidelines. This type of loan provides flexible repayment options, various properties, and competitive interest rates.

  • FHA Loans

The Federal Housing Administration (FHA), a United States Department of Housing and Urban Development (HUD) division, insures FHA mortgages. The purpose of these loans is to make homeownership more accessible to individuals who may have difficulty qualifying for conventional loans.

One of the primary advantages of an FHA loan is the reduced required down payment. In contrast to conventional loans, which typically require a 20% down payment, FHA loans can be obtained with as little as a 3.5% down payment. This reduced down payment makes it possible for more people to enter the housing market and realize their homeownership aspirations sooner rather than later. In addition, FHA loans have more accommodating credit requirements, allowing consumers with credit scores as low as 580 to qualify for financing. Additionally, these loans offer competitive interest rates comparable to conventional ones, making homeownership more affordable over the long term.

  • VA Loans

A VA home loan is a unique financing program in the United States that offers favorable mortgage terms to eligible veterans, National Guard members, Reserve members, and other categories of service members. As in other locations, VA home loans in Lakewood, Washington, include advantageous features such as no down payment, low interest rates, limited closing costs, and no requirement for private mortgage insurance (PMI). These loans also feature lifetime benefits and multiple uses, with programs such as Purchase, Cash-Out Refinance, IRRRL for reduced interest rates, NADL for Native American Veterans, and Adapted Housing Grants for the housing of disabled veterans.

Eligibility for VA home loans is based on service length, duty status, and character, with National Guard and Reserve members meeting distinct eligibility requirements. There are also different service lengths for officers, wartime and post-WWII periods, and options for entitlement restoration. Generally, a Certificate of Eligibility (COE) is required to confirm qualification, with eligibility based on documents such as DD214 for veterans, statements of service for active-duty members, and other specific requirements for non-activated members and surviving spouses. In addition to credit, income, and property standards, eligibility requirements also include provisions regarding eligibility.

  • Construction Loans

A construction loan in Lakewood, Washington, is a short-term loan used to finance the construction of a new property or renovating an existing one. These loans typically have a term of 12 to 18 months and are converted into a mortgage when the construction is complete. Some lenders offer interest-only payments during the construction phase, low down payment options, competitive interest rates, and flexible terms. In most cases, eligibility requirements include a minimum credit score of 680, proof of income, and a larger down payment.

One-time close construction loans, also known as Construction-to-Permanent loans, streamline the process by incorporating construction and mortgage financing into a single loan. This method eliminates multiple stages and fees and locks the interest rate in advance, providing security. It also guarantees a smooth transition from construction to permanent financing with fixed interest rates and guidance throughout the process. This differs from stand-alone construction loans, which necessitate separate construction and mortgage loans and may incur additional costs and requalification. The Construction-to-Permanent loan offers convenience and efficiency, whereas the stand-alone loan may be more suitable for those with small down payments or resale-oriented architects.

  • Jumbo Loans

A jumbo loan is a mortgage used to finance properties too costly to qualify for a conforming loan. In Lakewood, Pierce County, the conforming loan limit is $977,500, so a jumbo loan is a mortgage that exceeds this amount.

The ability to finance high-value properties is one of the significant benefits of a jumbo loan. These loans can be used to purchase or refinance a primary residence, secondary residence, vacation home, or investment property. The interest rates on jumbo loans are competitive, and the terms are flexible, including fixed or variable rates. The eligibility requirements for a jumbo loan vary by lender but typically include a high credit score, stable income, employment history, and a substantial down payment or property equity.

  • Native American Home Loans

The Section 184 Indian Home Loan Guarantee Program is a mortgage loan product explicitly designed for American Indian and Alaska Native families, Alaska villages, tribes, and tribally designated housing entities. Congress established this program in 1992 to increase access to capital and facilitate homeownership in Native American communities. Section 184 financing enables borrowers to purchase a property with a small down payment and flexible underwriting. Section 184 loans may be used for new construction, rehabilitation, buying an existing property, or refinancing on and off native lands.

Section 184 home mortgage loans made to Native borrowers are backed by the Office of Loan Guarantee within HUD’s Office of Native American Programs. The loan guarantee guarantees the complete repayment of the lender’s investment in the event of foreclosure. American Indians and Alaska Natives who are members of a federally recognized tribe, federally recognized Indian tribes, tribally designated housing entities, and Indian Housing Authorities are eligible borrowers. Borrowers must apply with a Section 184 lender approved by HUD.

  • Non-Qualified Mortgage Loans

Non-qualified mortgage (non-QM) loans are mortgages that do not adhere to the Consumer Financial Protection Bureau’s (CFPB) lending guidelines. These loans are intended for homebuyers who may need to meet the stringent criteria for a conventional mortgage.

The flexibility of qualification requirements is one of the main advantages of a non-QM loan. Alternative income verification methods, such as bank statements or assets as income, can be used to obtain these loans. Non-QM loans are attractive for self-employed borrowers, business proprietors, high-net-worth individuals, and foreign real estate investors. Non-QM loans also feature competitive interest rates and adaptable terms, such as fixed or variable rates. Non-QM loan eligibility requirements differ by lender but typically include a high credit score, stable income and employment history, and a sizable down payment or property equity.

Apply for a Lakewood Home Purchase Loan

Capital Home Mortgage is a mortgage corporation that provides comprehensive services to homeowners throughout Washington state, including Seattle. We provide Native Americans with various mortgage options, including FHA, VA, Conventional, USDA, Jumbo, and HUD 184 loans.

We are a direct mortgage lender offering competitive rates and fees while providing high-standard customer service. Our mortgage professionals are available to answer any queries and expedite the mortgage application process for your convenience. 

Call (253) 528-4417 to speak with our Lakewood Home Loan Specialists about your home purchase loan options.

Why Lakewood HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates and Low Fees

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

Lakewood 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

Lakewood 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

Lakewood 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.

Lakewood 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.

Lakewood Mortgage Programs

Lakewood Home Purchase

Thinking of Buying an Lakewood 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

Lakewood renovation home loans

Looking to Rehab an Lakewood 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

Lakewood FHA Home Loans

Great for 1st Time Lakewood 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

Lakewood VA Home Loans

100% Financing for Lakewood 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

Lakewood Conventional Home Loans

Flexibility for Lakewood 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

Lakewood Jumbo Home Loans

Lakewood 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

Lakewood USDA Home Loans

100% Lakewood 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

Lakewood Native American Home Loans

Lakewood 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

Lakewood Manufactured Home Loans

Great Alternative Lakewood 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
  • OTC Land/ Home Combo
  • Lock Rate Before Completion
  • FHA, VA, USDA, & Native Loans

Lakewood reverse mortgages

Your Lakewood 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

Lakewood Non QM Home Loans

Making Lakewood 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

Lakewood One Time Close mortgages

Build Your Lakewood 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

Lakewood Refinance Mortgage Loans

Lakewood 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

Lakewood Cash-out Home mortgages

Lakewood 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

Lakewood 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

Lakewood Mortgage Company Reviews

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