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Mortgage Lender Redmond Washington

Home Loans In Redmond, Washington

Redmond is a city in King County, Washington, about 15 miles east of Seattle. Redmond is one of Washington’s top locations to live; it provides residents with an urban-suburban eclectic atmosphere where most residents rent their homes. There are numerous restaurants, coffee shops, and parks in Redmond.

The housing market in Redmond is very competitive, with an average median selling price of $1.2M in 2022.

Home Loan Programs in Redmond

People looking to buy a house in Redmond can choose from various mortgage loan programs. From federally insured, guaranteed, or subsidized loans to conventional-conforming and jumbo loans, there is a home loan program for everyone.

  • Conventional Loans

The conforming loan limit for Redmond, King County, is $977,500. A two-unit property’s loan limit is $1,251,400, a three-unit property is $1,512,650, and a four-plex loan limit is $1,879,850, respectively. 

If the property’s loan amount exceeds the conforming loan limit, it must be financed using a jumbo loan. A commercial loan will be required if the property has more than four units.

  • FHA Loans

The Federal Housing Administration (FHA), under the jurisdiction of the US Department of Housing and Urban Development (HUD), insures the loan against the future default of a borrower. This eliminates the risk from the lender if a borrower cannot fulfill their future mortgage obligations. Doing so gives the lender more flexibility in offering qualified borrowers lenient qualification requirements and low-interest rates.

FHA loans require a credit score of 580 to qualify for a 3.5% down payment. The loan limits for an FHA loan in King County, Washington, are as follows: $977,500 for a single-unit home, $1,251,400 for a duplex, $1,512,650 for a tri-plex, and $1,879,850 for a quad-plex, respectively.

  • VA Loans

VA home loans are originated by private lenders and guaranteed by the US Department of Veterans Affairs. They are available to eligible veterans, service members, and their eligible spouses. Washington borrowers for a VA loan with their full VA entitlement are not restricted by any loan limits.

To qualify for a VA home loan, the eligible veteran or military spouse must have an available VA entitlement. They must obtain a Certificate of Eligibility (COE) to show that they qualify based on their service history and duty status.

  • Jumbo Loans

Any loan that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA) is considered a Jumbo loan. They are riskier due to the high loan amount and have stricter underwriting guidelines than conforming loans.

The qualification requirements of Jumbo loans include a high credit score, a low debt-to-income ratio, and adequate reserves. A credit score of 700 is typically required to qualify for a jumbo loan. Some lenders require a 720 as a qualification benchmark. Jumbo loans also require a low DTI ratio to demonstrate a borrower’s ability to handle and manage their monthly debts.

Mortgage reserve refers to a borrower’s liquid assets after exhausting their funds for a down payment and closing costs to buy a house. These liquid assets must be readily convertible to cash and are used as an emergency fund in the event of unemployment or loss of income. Jumbo loans require 6 – 12 months’ reserves to ensure borrowers can handle unexpected financial emergencies.

Apply for a Home Loan in Redmond

Capital Home Mortgage is committed to providing a positive experience for our clients when they purchase a house. We all know that time is of the essence in real estate transactions. As a result, we ensure we have the tools and technology to expedite the loan application, underwriting, and funding processes.

You can rely on us to process your mortgage application promptly and close on time.

Contact us at (425) 324-9505, and we’ll gladly assist you.

Home Loans In Redmond, Washington

The search for a new home can seem long and hard, so hard that you don’t even take the first step. But, despite what most people think, buying a home doesn’t have to be as stressful, overwhelming, or time-consuming as people say it is.

How long does it take to buy a new house?

Based on how the market is right now, it will probably take you about a year to find and buy your next home. You might spend most of that time looking for a good place to live.

The forces of supply and demand have tipped in favor of sellers, making it harder to find a home that fits your needs and budget.

Homebuying Timeline Getting Preapproved For A Mortgage (One or Two Days)

The first step in getting a mortgage is to apply for pre-approval. Your lender will check your financial information to see how much you can afford. If you meet the requirements, your lender will send you a letter with a formal estimate of the loan they are willing to give you.

Looking for a new place to live (3 to 6 Months)

The part of buying a home that takes the most time is often looking for the right house. In a hot real estate market, it could take you a few months to a year to find a home that meets all your needs.

Working with a real estate agent who knows the area and market well is the best way to speed up this step.

Making An Offer (Depending On How The Negotiations Go)

When you’ve found the perfect home and are ready to buy, your real estate agent can help you make an offer and write an offer letter that spells out the terms of the sale.

If your offer is all cash, you should include a “Proof of Funds” letter to show that you have the money to complete the deal. If you’re getting a mortgage, include a pre-approval letter with your offer to show the seller that a lender has already approved you.

Getting your mortgage finalized and getting ready for closing (About 1 Month)

You’re ready to apply for a mortgage now that you’ve signed the purchase agreement. Most lenders need 30–45 days to finish the details of your loan. Your lender will set up an appraisal to make sure your home meets the minimum requirements of your mortgage. After that, your loan will be underwritten.

During this time, you might also want to get a home inspection to see if there are any problems with the property that you weren’t told about.

The End of Your Loan (A Week or Less)

When both your appraisal and your lender’s review of your loan are done, it’s time to close.

Your lender will give you a document called Closing disclosure that explains the terms of your loan before the closing. At least three days are given to you to read it.

Your lender will set up a meeting to close the deal after three days. This is where you sign your loan papers, pay your down payment and closing costs, and take ownership of your new home.

Mortgage Lender In Bellevue, WA

You want to buy a new house in Bellevue, right? Capital Home Mortgage can help you understand the process and make the best choice. We have a wide range of home loan programs to meet the needs of all buyers, including conventional loans, loans backed by the government, and jumbo loans.

Capital Home Mortgage is one of the most important mortgage lenders in Washington. We offer our clients a flexible underwriting policy, low fees, and competitive interest rates. We are here to help you whether you are a first-time buyer, a veteran in active duty or a veteran who has retired.

Apply for a home loan in Bellevue right away!

Capital Home Mortgage is dedicated to giving our clients a good time when they buy a home. In real estate deals, we know that time is of the essence. Because of this, we make sure we have the right tools and technology to speed up the loan application, underwriting, and funding processes.

You can count on us to finish your mortgage application quickly and easily and to close on time.

Call us at (253) 528-4417, and we’ll be happy to help you.

The search for a new home can seem long and hard, so hard that you don’t even take the first step. But, despite what most people think, buying a home doesn’t have to be as stressful, overwhelming, or time-consuming as people say it is.

How long does it take to buy a new house?

Based on how the market is right now, it will probably take you about a year to find and buy your next home. You might spend most of that time looking for a good place to live.

The forces of supply and demand have tipped in favor of sellers, making it harder to find a home that fits your needs and budget.

Homebuying Timeline Getting Preapproved For A Mortgage (One or Two Days)

The first step in getting a mortgage is to apply for pre-approval. Your lender will check your financial information to see how much you can afford. If you meet the requirements, your lender will send you a letter with a formal estimate of the loan they are willing to give you.

Looking for a new place to live (3 to 6 Months)

The part of buying a home that takes the most time is often looking for the right house. In a hot real estate market, it could take you a few months to a year to find a home that meets all your needs.

Working with a real estate agent who knows the area and market well is the best way to speed up this step.

Making An Offer (Depending On How The Negotiations Go)

When you’ve found the perfect home and are ready to buy, your real estate agent can help you make an offer and write an offer letter that spells out the terms of the sale.

If your offer is all cash, you should include a “Proof of Funds” letter to show that you have the money to complete the deal. If you’re getting a mortgage, include a pre-approval letter with your offer to show the seller that a lender has already approved you.

Getting your mortgage finalized and getting ready for closing (About 1 Month)

You’re ready to apply for a mortgage now that you’ve signed the purchase agreement. Most lenders need 30–45 days to finish the details of your loan. Your lender will set up an appraisal to make sure your home meets the minimum requirements of your mortgage. After that, your loan will be underwritten.

During this time, you might also want to get a home inspection to see if there are any problems with the property that you weren’t told about.

The End of Your Loan (A Week or Less)

When both your appraisal and your lender’s review of your loan are done, it’s time to close.

Your lender will give you a document called Closing disclosure that explains the terms of your loan before the closing. At least three days are given to you to read it.

Your lender will set up a meeting to close the deal after three days. This is where you sign your loan papers, pay your down payment and closing costs, and take ownership of your new home.

Mortgage Lender In Redmond, WA

You want to buy a new house in Bellevue, right? Capital Home Mortgage can help you understand the process and make the best choice. We have a wide range of home loan programs to meet the needs of all buyers, including conventional loans, loans backed by the government, and jumbo loans.

Capital Home Mortgage is one of the most important mortgage lenders in Washington. We offer our clients a flexible underwriting policy, low fees, and competitive interest rates. We are here to help you whether you are a first-time buyer, a veteran in active duty or a veteran who has retired.

Apply for a home loan in Redmond right away!

Capital Home Mortgage is dedicated to giving our clients a good time when they buy a home. In real estate deals, we know that time is of the essence. Because of this, we make sure we have the right tools and technology to speed up the loan application, underwriting, and funding processes.

You can count on us to finish your mortgage application quickly and easily and to close on time.

Call us at (253) 528-4417 if you want a Redmond Home Loan. We look forward to hearing from you.

Why Redmond 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

Redmond 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
Redmond Mortgage Programs

Redmond Home Purchase

Thinking of Buying an Redmond 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

Redmond renovation home loans

Looking to Rehab an Redmond 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

Redmond FHA Home Loans

Great for 1st Time Redmond 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

Redmond VA Home Loans

100% Financing for Redmond 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

Redmond Conventional Home Loans

Flexibility for Redmond 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

Redmond Jumbo Home Loans

Redmond 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

Redmond USDA Home Loans

100% Redmond 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

Redmond Native American Home Loans

Redmond 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

Redmond Manufactured Home Loans

Great Alternative Redmond Housing

Redmond reverse mortgages

Your Redmond 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

Redmond Non QM Home Loans

Making Redmond 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

Redmond One Time Close mortgages

Build Your Redmond 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

Redmond Refinance Mortgage Loans

Redmond 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

Redmond Cash-out Home mortgages

Redmond 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

Redmond Mortgage Programs

Redmond Home Purchase

Thinking of Buying a Redmond 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

Redmond renovation home loans

Looking to Rehab a Redmond 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

Redmond FHA Home Loans

Great for 1st Time Redmond 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

Redmond VA Home Loans

100% Financing for Redmond 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

Redmond Conventional Home Loans

Flexibility for Redmond 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

Redmond Jumbo Home Loans

Redmond 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

Redmond USDA Home Loans

100% Redmond 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

Redmond Native American Home Loans

Redmond 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

Redmond Manufactured Home Loans

Great Alternative Redmond Housing

Redmond reverse mortgages

Your Redmond 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

Redmond Non QM Home Loans

Making Redmond 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

Redmond One Time Close mortgages

Build Your Redmond 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

Redmond Refinance Mortgage Loans

Redmond 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

Redmond Cash-out Home mortgages

Redmond 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

Redmond 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

Redmond Mortgage Company Reviews

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