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Home Loans In Seattle, Washington

A seaport city on the west coast of the United States, Seattle is the largest city in Washington and the Pacific Northwest region of North America. Seattle’s housing market is competitive, scoring 82 out of 100 with an average price of $770,000, up 8.5% from last year.

Owning a home is part of the American dream for many people. And obtaining a mortgage is one of several essential steps to making that dream a reality.

If you’re thinking about becoming a homeowner and aren’t sure where to begin, you’ve come to the right place. We’ll go over the fundamentals of mortgages, the home-buying process, and more.

Mortgage Basics For Beginners

A mortgage is a type of loan used to finance real estate purchases. It is a secured loan, meaning the borrower must pledge collateral to the lender if they fail to make payments. If you stop making mortgage payments, your lender has the right to repossess your home.

Who Can Get A Mortgage?

The majority of people who purchase a home do so with the help of a mortgage. A mortgage is necessary if you cannot pay the full price of a home out of pocket.

Purchasing your home on a mortgage can also make sense even if you have the money to pay it all off, such as when you need additional funds for business or investment opportunities.

How Do Mortgages Work?

When you get a mortgage, your lender provides you the money you need to purchase the home or property you want, and you agree to repay that loan – with interest – over several years. The lender retains ownership of the home until the mortgage is paid for in full. Fully amortized loans have a predetermined payment schedule that ensures the loan is paid off at the end of the term.

One of the most important differences between a mortgage and other types of loans (such as credit card payments) is that if you fail to pay back your mortgage, your lender has the authority to sell your home to recoup the losses.

How To Obtain A Mortgage

Getting a mortgage is a relatively simple process if you have a steady job, sufficient income, and a good credit score.

Here’s a rundown of what you’ll need to do.

  • Get Pre Approved

Getting preapproved will tell you how much mortgage you’ll qualify for based on your income, financial status, and other factors. It is an important step in the process, so you don’t waste time looking for homes out of your price range. Also, real estate agents and sellers tend to take potential buyers more seriously if they have a preapproval letter with their offer. 

  • Shop For A Home

Contact a real estate agent to begin viewing homes in your area. Real estate agents are your eyes and ears in the housing market, so make sure to find somebody you can trust. An experienced real estate agent will have the means and the network to help you find a home that fits your requirements and can assist you in negotiating the price and handling all of the paperwork and details of the purchase.

  • Get Your Mortgage Approved

Once your offer has been accepted, you’ll need to do some more legwork to finalize the sale and financing of your new home.

Your lender will now verify all mortgage details, including your income, employment, and assets. They’ll also need to double-check the property details, which usually entails getting an appraisal and inspection to confirm its value and assess the home’s condition. Your lender will also hire a title company to examine the home’s title and ensure no issues that would cause problems later.

  • Close Your Loan

Once your loan has been fully approved, you will meet with your lender and a real estate professional at the title company for the closing of your loan. After paying the down payment and closing costs and signing your mortgage documents, you’ll be able to take possession of your new home!

Seattle, Washington Mortgage Lender

It’s not easy – and it’s certainly not cheap – to become a homeowner, but it’s well worth the effort. If you’re looking to relocate and purchase a home in Seattle, Capital Home Mortgage has a range of home loan programs to meet your needs and financing requirements.

We take pride in providing our clients with top-notch service and making homeownership more affordable with our low fees and competitive interest rates.

Begin Your Homeownership Journey with Us!

Capital Home Mortgage has the necessary technologies and resources to expedite the loan application, underwriting, and funding processes. You can count on us to complete the mortgage process on schedule and make your home buying journey as pleasant an experience as possible.

Why Seattle is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Seattle Rates / Low Fees

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

Seattle Customer Service

7  Day a Week Support from Application to Final Mortgage Payment. 

Seattle Mortgage Rates

Capital Home Mortgage is dedicated to offering great Washington Mortgage Rates and Low Fees all while providing exceptional customer service.  Our mortgage professionals are focused solely on home mortgage lending to make your experience smooth with an on time closing.  Call today to speak with a mortgage officer or request a no obligation quick rate quote.

Seattle Mortgage Team

Seattle Mortgage Programs

Seattle Home Purchase

Buying a Seattle Home?

  • Primary, 2nd Home, Investment
  • Low Rates & Low Fees
  • Conventional, FHA, VA, USDA
  • Jumbo, Renovation, Manufactured

Seattle Renovation Home Loans

Seattle Rehab Loans

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or Full
  • Fannie Mae Homestyle Reno
  • Freddie Mac Home Choice Reno

Seattle FHA Home Loans

1st Time Seattle Homebuyers

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores – Down to 500

Seattle VA Home Loans

100% Loans for Seattle Veterans

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Credit Scores Down to 500
  • Manual Underwriting Allowed

Seattle Conventional Home Loans

Flexibility for Seattle Buyers

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Seattle Jumbo Home Loans

Great Seattle Rates

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Seattle USDA Home Loans

Seattle Rural Properties

  • Rural Properties Only
  • Primary Residence Only
  • New Manufactured Homes Allowed
  • Closing Costs Can Be Rolled In

Seattle Native American Loans

Seattle HUD 184 Loans

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Seattle Manufactured Home Loans

Seattle Mobile Home Loans

  • Existing Purchase or Refinance
  • One Time Close Combo Land & Home
  • Lock Rate Before Completion
  • FHA, VA, USDA, & Native Loans

Seattle Reverse Mortgages

Your Seattle Home at Work!

  • Primary Residence Only
  • Simple Qualifying – Equity Based
  • Credit Scores Not Applicable
  • Minimum Age 62

Seattle Cash-Out Refinance

Seattle Equity Refinance

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Debt Consolidation
  • Streamline Options Available

Seattle Mortgage Refinance

Seattle Rate & Term Refinance

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

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