Capital Home Mortgage Seattle

Seattle Jumbo Home Loans

Seattle Mortgage Lender Seattle Washington

Jumbo Home Loans In Seattle Washington

A jumbo mortgage in Seattle is a home loan that exceeds the FHFA’s conforming loan limit and is frequently utilized to finance more expensive properties due to the area’s high cost of living. The terms and conditions of jumbo loans differ depending on the lender, including loan amount, credit score criteria, and down payment. In Seattle, jumbo mortgages for residential properties can be up to $3 million. Jumbo loans up to $1 million are available for investment properties.

Due to the high home prices in Seattle, the cut-off point between conforming loans and jumbo loans is an essential piece of information. For example, in King County, the maximum price for a single-family home is $891,250. A jumbo loan is required if the loan amount surpasses this limit.

Qualification Requirements of Jumbo Loans

Due to the greater risk associated with jumbo loans, eligibility requirements are typically more stringent. Remember that these are general requirements. The availability and rates of jumbo loans can be affected by various factors, including location, the state of the economy, and the specific terms and conditions of the lender.

Important qualifications include:

  • High Credit Score

Lenders frequently want a FICO score of at least 700 to qualify for a jumbo loan and occasionally as high as 720.

  • Low Debt-to-Income (DTI) Ratio

Lenders consider your DTI to ensure that you do not incur excessive debt. However, some lenders may be more accommodating with their jumbo loan requirements. Typically, jumbo loans require a DTI ratio of 43% or less.

  • Higher Down Payment

The required down payment for jumbo loans in Seattle can vary substantially based on several variables, such as the lender’s specific terms and conditions, the borrower’s financial situation, and more. However, as a general rule, you should expect to make a minimum 10% down payment on your jumbo loan. Some lenders may require a 25% or even 30% minimum down payment.

  • Adequate Cash Reserves

Borrowers must demonstrate that they have enough cash reserves to repay the loan despite financial difficulties. A jumbo loan typically requires a 6- to 12-month reserve.

Advantages of a Jumbo Loan

Jumbo loans offer several benefits to prospective homebuyers in Seattle, particularly given the city’s expensive housing market. Here are a few advantages:

  • Higher Loan Limits

The primary benefit of a jumbo loan is the more considerable loan amount, as these loans exceed the Federal Housing Finance Agency’s (FHFA) lending limits. This allows individuals to finance more costly home purchases in Seattle and other cities with high property values.

  • Flexibility in Down Payment

Some lenders may accept a 10 percent down payment on a jumbo loan. Jumbo loans may not require the conventional 20 percent down payment. This can benefit individuals with a high income but need more savings for a large down payment.

  • Choice of Interest Rates

Borrowers can obtain jumbo loans with either a fixed or variable interest rate, providing them greater flexibility based on their financial situations and risk tolerance.

  • Avoiding Multiple Mortgages

Without jumbo loans, buyers of high-priced properties might be required to obtain multiple conventional loans to cover the purchase price. A jumbo loan simplifies this process by consolidating the financing into a single loan, which could result in interest and fee savings in the long run.

It is essential to note, however, that prospective drawbacks may accompany these benefits. Jumbo loans, for instance, are riskier for lenders because they cannot be guaranteed by government-sponsored entities such as Fannie Mae and Freddie Mac; therefore, they may have stringent underwriting requirements, such as a higher credit score or lower debt-to-income ratio. Moreover, interest rates on jumbo loans may be higher than those on conforming loans, though there are ways to secure a reduced rate. Before pursuing a jumbo loan, prospective applicants should carefully consider their ability to meet these requirements and the potential costs.

Apply for a Seattle Jumbo Loan with Capital Home Mortgage

Capital Home Mortgage offers a variety of benefits to homebuyers in Seattle pursuing Jumbo loans. Depending on the loan-to-value (LTV) and purpose, our flexible loan terms, which include fixed-rate and adjustable-rate Jumbo Loans with a maximum loan amount of $2 million, are one of our primary advantages. We offer individualized service and assistance essential for navigating Seattle’s notoriously competitive and expensive housing market. Our team comprehensively understands the local real estate market and provides loan products for primary residences, second homes, vacation homes, and investment properties. In addition, we provide quick pre-approvals, which can help prospective purchasers make competitive offers in the competitive Seattle real estate market. Capital Home Mortgage offers exhaustive and adaptable Jumbo loan options and services tailored to Seattle’s high-end real estate market.

Call (253) 528-4417 to speak with one of our Seattle Jumbo Loan Specialists.

Why Seattle 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

Seattle 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

Seattle Jumbo Home 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
Seattle Mortgage Programs

Seattle Home Purchase loans

Looking to Purchase a Seattle 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, 2nd Home, Investment
  • Low Rates & Fees, No fee Options
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo & Renovation
  • Manufactured, Construction, Reverse

Seattle Renovation Home Loans

Looking to Rehab a Seattle Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not a renovation loan? Purchase the Perfect Home and make it your own.
  • Remodel, Renovate or Repairs
  • FHA 203K Streamline 
  • FHA Full Documentation Rehab
  • Fannie Mae Homestyle Reno
  • Freddie Mac Home Choice Reno

Seattle FHA Home loans

Great 1st Time Seattle 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 Payments
  • Flexible Underwriting Guidelines
  • Higher Debt to Income Allowed
  • Lower Credit Scores – Down to 500
  • Down Payment Gifts Allowed

Seattle va Home Loans

100% Financing for Seattle Vets

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.
  • No Mortgage Loan Limits
  • Simple Qualifying
  • Higher Debt to Income Allowed
  • Lower Credit Scores – Down to 500
  • Manual Underwriting Allowed

Seattle Conventional Home loans

Flexibility for Seattle 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 Properties
  • Single and Multi-Family Properties
  • Variable Mortgage Insurance Options
  • Low Rates & a Variety of Mortgage Terms
  • Renovation Programs Available

Seattle Jumbo Home Loans

Seattle Non-Confirming Home Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits. Call today.
  • Primary & 2nd Homes
  • Variety of Mortgage Programs
  • Simple Qualifying for Veterans
  • Investor Specific Guidelines
  • Credit Score Minimums

Seattle USDA Home loans

100% Rural Seattle 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.
  • Primary Residences
  • No Down Payment Required
  • New Manufactured Homes Allowed
  • Closing Costs / Repairs Rolled In
  • Geographic and Income Limits Apply

Seattle Native american Home Loans

Seattle 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
  • Purchase, Refinance, and Renovation

Seattle Manufactured Home loans

Great Alternative Seattle 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
  • New Construction
  • One Time Close Land/Home Combo
  • Lock at Contract
  • FHA, VA, USDA, Native American

Seattle Reverse Mortgage Loans

Your Seattle 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
  • No Credit Score Requirements
  • Minimum Age 62
  • Purchase, Refinance, and Cash-Out

Seattle Non QM Home loans

Making Seattle Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.
  • Purchase, Refinance & Cash-out
  • Primary, Secondary, Investment Properties
  • Full Doc Programs
  • Alt Doc Programs
  • Corporations OK

Seattle One Time Close Home Loans

Build Your Seattle 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 Residences Only
  • One Time Close
  • Lock Rate at Closing
  • Traditional Final Mortgages
  • No Payments During Construction

Seattle Refinance Mortgage loans

Seattle 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.
  • Lower Monthly Payment
  • Shorten Mortgage Term
  • Streamline Options Available
  • Appraisal Waivers Allowed
  • VA IRRRL’s

Seattle Cashout Mortgage Loans

Seattle 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
  • Dream Vacation
  • Higher Education

Seattle 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

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