Home Purchase lender Seattle, Washington
Home Purchase Loans In Seattle
To buy a house in Seattle, you first need to secure financing. You’ll need to apply for a mortgage loan to buy a house. Your wealth grows in proportion to the rise in the value of your home. Your net worth increases when the value of your home rises. In actuality, many homeowners refinance their homes to receive urgently needed cash.
Seattle Home Purchase Loan OptionsÂ
There are various home purchase loans available in Seattle, and it’s essential to determine which one best meets your needs so you can begin completing the qualifying requirements.
Conventional – Conforming Loans
A conventional loan is any mortgage neither funded nor insured by the government. By far the most common home loan, they are accessible from practically every mortgage company in the nation.
Conforming-conventional loans are mortgages with terms that meet the requirements of the government-sponsored enterprises Fannie Mae and Freddie Mac. They are not guaranteed by the government and are only suited for borrowers with above-average credit scores. The maximum loan amount cannot exceed conventional loans’ annual cap and requires a credit score of 620 to qualify.
FHA Home Loans
FHA loans are ideal for individuals with low credit ratings and small down payments. The government insures these loans against future default through the Federal Housing Administration (FHA), allowing lenders to accommodate borrowers with mediocre or marginal credit.
Credit scores as low as 580 are eligible for FHA loans.
VA Home Loans
Veterans and their surviving spouses may be qualified for loans guaranteed by the Department of Veterans Affairs and made available through the VA program. There is no down payment requirement or mortgage insurance for these loans. Most lenders require a credit score of 620 to qualify for a VA home loan.
USDA Guaranteed Home Loans
Homebuyers in rural areas may also qualify for a mortgage insured by the federal government called a USDA Home Loan. The USDA home loan program is similar to the VA loan in that no down payment is required. Still, it can only be used to buy a primary residence in rural or suburban regions designated as USDA rural development or suburban development zones.
Jumbo Loans
Jumbo mortgages exceed the conforming loan limits that Fannie Mae and Freddie Mac allow. Purchasing high-end real estate in densely populated, expensive regions is a prime application for this type of financing.
The higher dollar amounts involved in a Jumbo home loan program necessitate stricter guidelines. They also need higher levels of financial stability, employment, and income stability.
Non-Qualified Mortgage
Loans that do not constitute as qualifying mortgages by the Consumer Financial Protection Bureau (CFPB) are known as “non-QM loans.” Lenders offering qualified mortgages must comply with the Consumer Financial Protection Bureau’s “ability to repay” rule, which mandates that they verify your financial stability and only offer you loan terms that you are likely to be able to repay.
Non-QM loans use non-traditional income verification methods to help borrowers get approved for a home loan.Â
Apply For A Seattle Home Loan
Capital Home Mortgage is a full-service mortgage company that serves homeowners throughout Washington state, including Seattle. We offer a variety of mortgage alternatives for Native Americans, including FHA, VA, Conventional, USDA, Jumbo, and HUD 184 loans.
Because we are a direct mortgage lender, we can offer you competitive rates and fees while still providing the high-quality service you need. For your convenience, our mortgage professionals are available to answer any questions and speed up the mortgage application process.Â
Why Seattle HomeBuyers are Choosing Capital Home Mortgage
Close On Time
Control of the Loan from Application to Funding
Great Rates & Low Fees
Direct Lender Providing Competitive Rates and Low Fees
Exceptional Customer Service
7Â Day a Week Support Application to Final Mortgage Payment
Seattle 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
Seattle Home Purchase Loans
Looking to Purchase a Home? We have the loan 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
Seattle 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.
Seattle 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.
Seattle Mortgage Programs
Seattle Home Purchase
Thinking of Buying a Seattle Home?
Looking to Purchase a Home? We have the loan 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
Seattle renovation home loans
Looking to Rehab a Seattle Home?
What 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
Seattle FHA Home Loans
Great for 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 Payment
- Flexible Underwriting
- Higher Debt to Income Ratios
- Lower Credit Scores OK
Seattle VA Home Loans
100% Financing for Seattle 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
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
- Great Rates & Low FeesÂ
- Single Family and Multi-Family
- Renovation Loan Programs
Seattle Jumbo Home Loans
Seattle 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
Seattle USDA Home Loans
100% Seattle 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
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
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
- OTC Land/ Home Combo
- Lock Rate Before Completion
- FHA, VA, USDA, & Native Loans
Seattle reverse mortgages
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
- credit scores not applicable
- Minimum age 62
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, Rate and Term & Cash-out
- Primary, Secondary and Investment
- Full Doc & Bank Statements Programs
- Corporations OK
Seattle One Time Close mortgages
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 Residence Only
- Close Once
- Lock Rate at Contract
- Traditional Final Mortgage
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.
- Reduce Mortgage Term
- Lower Monthly Payments
- Appraisal Waivers
- Streamline Options Available
Seattle Cash-out Home mortgages
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
- Vacation or Education