Capital Home Mortgage Sammamish

Sammamish home purchase loans

Home Purchase lender Sammamish

Home Purchase Loans In Sammamish

Homebuyers in Sammamish may anticipate a robustly competitive real estate market. According to Redfin, selling a home in Sammamish takes about five days after receiving four offers on average.

Purchase Loan Programs in Sammamish

  • Conventional – Conforming Loan

A conventional conforming loan in Sammamish, King County, Washington, is a mortgage that adheres to the Federal Housing Finance Agency’s (FHFA) and Fannie Mae’s and Freddie Mac’s guidelines. In 2023, these limits for single-family residences in King County have been set at $977,500, reflecting an increase in home prices and adjustments based on median home values. The limits for multiple-unit properties can reach $1,879,850 for four units. Contrast conforming loans with jumbo loans, which exceed these limits.

Conventional conforming loans generally have lower interest rates and more flexible terms than non-conforming jumbo loans. A minimum credit score (usually 620 or higher), stable employment, a low debt-to-income ratio, and a down payment are typical eligibility requirements. Specific requirements, such as the exact down payment percentage or credit score, may differ from lender to lender, but they typically center on these critical factors. 

  • FHA Home Loan

An FHA (Federal Housing Administration) home loan in Sammamish, King County, Washington, is a government-backed mortgage designed to aid homebuyers, especially those with lower incomes and credit issues. The loan limit for FHA loans on single-family residences in King County is $977,500 in 2023, reflecting the region’s rising home prices. This type of loan typically attracts first-time homebuyers and those with more lenient credit requirements, as it allows for lesser down payments, such as 3.5%, for those with credit scores of 580 or higher.

FHA mortgages are available to borrowers with marginal credit, require smaller down payments, and may be insured by the federal government. Additionally, there is the option to include co-borrowers and the ability to accommodate various property types. Eligibility requirements include a credit score (580 for 3.5% down, 500-579 for 10% down), a Debt-to-Income (DTI) ratio of less than 45%, primary residence occupancy, a 2-year employment history, and income documentation. In addition, the property must satisfy FHA appraisal requirements. 

  • VA Home Loan

The VA home loan is a mortgage initiative supported by the Department of Veterans Affairs (VA) accessible to qualifying veterans, active-duty military members, and surviving spouses1. Private financial institutions, like banks and mortgage firms, offer VA home loans, with the VA assuming a certain level of responsibility for the loan. This assurance from the VA allows the lender to offer more advantageous conditions to borrowers.

The benefits associated with a VA home loan encompass several key aspects. Firstly, there is no mandatory down payment requirement, although it is worth noting that certain lenders may still request down payments from specific borrowers. Secondly, these loans typically offer highly competitive interest rates, giving borrowers a favorable financial advantage. Additionally, the associated closing costs generally are limited in scope, further enhancing the appeal of VA home loans. Another significant advantage is the absence of private mortgage insurance (PMI), which can result in substantial savings for borrowers. Lastly, the VA loan program allows borrowers to utilize the guaranty multiple times, increasing flexibility and accessibility. To meet the requirements for a VA house loan, individuals must possess a credit history deemed satisfactory, an income level deemed sufficient, and a valid Certificate of Eligibility (COE) based on their service history and duty status.

  • One-Time Close Construction Loan

A one-time close construction loan is a mortgage that includes both the building and permanent financing of a new home in a single loan and closing. Two separate closings and a re-qualification were once typical for construction loans.

One-time close construction loans offer several benefits, including consolidating closing fees into a single payment, delaying payments, and securing a fixed permanent interest rate. The eligibility criteria for a one-time close construction loan may differ among lenders but typically encompass many key factors. These factors commonly entail a robust credit history, a substantial down payment, comprehensive construction plans, cost estimates, income substantiation, and other pertinent financial details.

  • Jumbo Loan

A jumbo home loan is a mortgage that exceeds the Federal Housing Finance Agency’s (FHFA) conforming loan limits for Fannie Mae and Freddie Mac. King County, Washington’s conforming loan limit in 2023 is $977,500. Any mortgage amount exceeding this threshold would be classified as a jumbo loan.

The benefits of a jumbo loan include larger loan limits and the ability to finance a property with a high value with a single loan. However, jumbo loans have stricter eligibility requirements than conventional loans. A jumbo loan requires a higher credit score than a conventional loan, typically above 700 points. Lenders will also consider your debt-to-income ratio (DTI) and liquid assets. You should demonstrate that your savings can cover at least six to twelve months of mortgage payments.

  • Non-Qualified Mortgage Loan

A non-qualified mortgage (non-QM) is a loan designed to assist homebuyers who do not satisfy the stringent requirements for a qualifying mortgage. For instance, if you are self-employed or lack the required documentation for a conventional mortgage, you may need to consider non-qualified mortgages.

The benefits of a non-QM loan include greater underwriting flexibility, no personal income calculations required, no employment history required (in some cases), as little as 10% down, no reserves required (in some cases), credit scores as low as 620, and a low debt-service-coverage ratio (DSCR) on investment properties. Retirees, self-employed individuals, real estate investors, business owners, foreign nationals, buyers who live off investments or have high assets and low income, buyers with a high debt-to-income ratio, and buyers with less-than-perfect credit may benefit from a non-QM loan.

Apply for a Sammamish Home Purchase Loan

When considering the purchase of a residential property in Sammamish, prospective buyers are presented with a wide array of mortgage options to select from. Each type of loan possesses distinct advantages. For example, FHA and VA loans provide borrowers with the flexibility of credit score criteria, low down payment options, and the assurance of fixed-rate loans that guarantee predictable monthly payments.

Call (425) 324-9505 to speak with our Sammamish Home Loan Specialists about your home purchase loan options.

Why Sammamish 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

Sammamish 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

Sammamish 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

Sammamish 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.

Sammamish 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.

Sammamish Mortgage Programs

Sammamish Home Purchase

Thinking of Buying an Sammamish 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

Sammamish renovation home loans

Looking to Rehab an Sammamish 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

Sammamish FHA Home Loans

Great for 1st Time Sammamish 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

Sammamish VA Home Loans

100% Financing for Sammamish 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

Sammamish Conventional Home Loans

Flexibility for Sammamish 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

Sammamish Jumbo Home Loans

Sammamish 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

Sammamish USDA Home Loans

100% Sammamish 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

Sammamish Native American Home Loans

Sammamish 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

Sammamish Manufactured Home Loans

Great Alternative Sammamish Housing

Sammamish reverse mortgages

Your Sammamish 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

Sammamish Non QM Home Loans

Making Sammamish 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

Sammamish One Time Close mortgages

Build Your Sammamish 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

Sammamish Refinance Mortgage Loans

Sammamish 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

Sammamish Cash-out Home mortgages

Sammamish 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

Sammamish 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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