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Spokane Valley Home Loans

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Mortgage Lender Spokane Valley Washington

Home Loans In Spokane Valley, Washington

When buying a brand-new home, approximately how long does the process take?
As a result of the current state of the housing market, it is very feasible that you will spend close to an entire year looking for and negotiating the purchase of your new home. There is a good chance that the majority of that time will be spent looking for the perfect home.

As a result of the interaction between supply and demand, the scales are currently tilted in favor of sellers, which makes it significantly more challenging to find a piece of real estate that satisfies both your requirements and the financial constraints you are operating under in the current market.

Homebuying Timeline
Getting Your Application for a Mortgage Preapproved (One or Two Days)
The application for pre-approval is the first step you need to do in order to obtain a mortgage. During this step, your lender will verify the information you provide about your finances in order to determine how much of a mortgage you will be able to afford. If your application for the loan is successful, the financial institution that will be handling it for you will write you a letter in which they provide an official estimate of the sum of money that they are willing to provide you for the loan.

Searching for a new location to settle down in (3 to 6 Months)
The hunt for the perfect house to buy usually takes the most time out of all the steps involved in the process of buying a home. In a housing market that is especially competitive, it is likely that it will take you anywhere from a few months to a full year before you find a home that satisfies all of your requirements. During this time, you will be searching for a home that is perfect for you.

To get through this phase of the process more quickly, the most efficient tactic is to collaborate with a real estate agent who is well-versed in both the surrounding community and the current situation of the market.

Making An Offer (Depending On How The Negotiations Go)
When you’ve found the home of your dreams and are ready to make a purchase, your real estate agent will be able to lend a hand in the process of making an offer and composing an offer letter that details the terms and conditions of the transaction. This will be possible once you’ve located the property of your dreams and are ready to make a purchase.

If you are making an offer that is only dependant on cash payments, you need include a letter indicating that you have the financial means necessary to complete the transaction if you want the offer to be taken seriously. Include a letter saying that you have been pre-approved by a lender alongside your offer if you want to obtain a mortgage. This will show the seller that you are qualified to obtain a loan and increase the likelihood that they will accept your offer.

Put the finishing touches on your mortgage and get ready for the closing by following these steps (About 1 Month)
In light of the fact that both parties have now signed the purchase agreement, it is possible that the application process for a mortgage will now be able to officially get under way. The majority of loan providers need an amount of time ranging from 30 to 45 days to finalize the terms of your loan. Your mortgage lender will first perform an underwriting on your loan, and then they will schedule an appraisal of your home to see whether or not it satisfies the essential requirements for obtaining a mortgage. If it does, then your loan will be approved.

During this time, you ought to also give some thought to carrying out a home inspection in order to find out whether or not there are any issues with the property about which you were not previously informed.

Completing the Process of Your Loan (A Week or Less)
After your lender has finished the underwriting process on your loan and the appraiser has given the all clear, it is time to close on your property.

In the days running up to the closing, your lender will give you a document that is known as the Closing disclosure. This document provides a synopsis of the terms that apply to your loan. You have a minimum of three days to finish reading it before the deadline.

After a period of three days has passed, your lender will contact you to schedule a meeting for the closing. At this time, you will sign the documents necessary for your mortgage loan, assume ownership of your new home, and make payments for your closing costs and your down payment.

Mortgage Lender In Spokane Valley, WA
Have you given any thought to investing in a brand-new home in the Bellevue area? Capital Home Mortgage is able to provide you with direction throughout the process and assistance in selecting the alternative that will serve your needs in the most optimal manner. Conventional loans, loans backed by the government, and jumbo loans are just some of the possibilities that may be obtained from our business in order to meet the demands of each and every potential client.

Capital Home Mortgage, which is one of the most well-known mortgage lenders in the state of Washington, is in the enviable position of being able to provide our customers with a flexible underwriting policy, low fees, and competitive interest rates. This is thanks to the fact that Capital Home Mortgage enjoys the advantageous position of being one of the most prominent mortgage lenders in the state. We are here to guide you through the process of purchasing a house, regardless of whether this is your first time doing so, you are a veteran who is either still serving or has retired from the military, or you are an experienced buyer.

Please Complete This Application Right Away If You Are Interested In A Home Loan In Spokane Valley!
Our organization, Capital House Mortgage, is committed to making the process of purchasing a home enjoyable for each and every one of our clients and ensuring their satisfaction throughout the transaction. When it comes to dealing with real estate transactions, we are well aware of the importance of preserving a sense of urgency. Because of this, we make sure that we have all of the necessary equipment and resources so that we can speed up the processes of asking for a loan, having it approved, and having it funded.

You are able to rely on us to finish the application process in a timely manner while also reducing any delays or difficulties that may occur.

Simply give us a call at the number (253) 528-4417, and we would be happy to help you secure a house loan in the Spokane Valley area.

Spokane Valley Home Loans

Located on the east side of Spokane and west of Coeur d’Alene, Idaho, Spokane Valley is a city in Spokane County. It is the largest suburb of Spokane and was incorporated as the City of Spokane Valley on March 31, 2003.

Spokane Valley, WA, has a balanced housing market in 2023, meaning housing supply and demand are roughly equal. Homes in Spokane Valley, WA, sell on average after 62 days on the market. The median days on the market in Spokane Valley, WA, have increased since last month and improved since last year. The average sales price of $400k is one of the more competitive areas to buy a house in Washington State.

Home Loan Programs in Spokane Valley

FHA loans are a popular option in Spokane Valley, as their low 3.5% down payment requirement makes them appealing to many purchasers. Other common loan programs in certain areas are conventional loans, VA loans, USDA loans, and programs for first-time homebuyers. It is essential to look into and compare each program’s terms and conditions to determine which will best meet your needs.

  • FHA Loans

A Federal Housing Administration (FHA) loan is a mortgage loan backed by the government and insured by the FHA. It lets people get a mortgage with less money down and a lower credit score than traditional loans.

Borrowers must meet specific requirements to qualify for an FHA loan, including a credit score of at least 580 and a down payment of at least 3.5%. While FHA loans make homeownership more affordable for some borrowers, they can have disadvantages, such as higher mortgage insurance premiums that increase the loan’s cost.

Borrowers must meet debt-to-income ratio (DTI) requirements and produce proof of stable income and employment. Each county has different FHA loan limits, which could affect how much a borrower can receive.

  • VA Loans

A VA home loan is a mortgage program offered to qualified active-duty military personnel, veterans, and surviving spouses. The U.S. Department of Veterans Affairs (VA) guarantees the loan, allowing lenders to provide borrowers with more advantageous terms than they may otherwise be able to.

To be qualified for a VA home loan, you must have good credit, a steady income, and a current Certificate of Eligibility (COE). In addition, you must meet one of the following service requirements:

  • Serve for 90 consecutive days on active duty during wartime or; 
  • Serve 181 days of active duty during peacetime or;
  • Serve 6 years in the Reserves or National Guard, or;
  • Be the surviving spouse of a service member who died on active duty or due to a military-connected disability.

VA loans can be an excellent alternative for eligible borrowers seeking to purchase a house with little or no down payment, no mortgage insurance, and possibly lower interest rates. However, the funding fee and appraisal requirements can increase the total closing cost.

  • USDA Loans

A USDA home loan in Washington State is a government-backed mortgage program that helps low-income people buy homes in rural areas. The program has income and property eligibility requirements, and the benefits include no down payment and attractive interest rates. The disadvantages include higher eligibility standards and limited availability in rural areas.

  • Jumbo Loans

Jumbo loans are mortgage loans that exceed Fannie Mae and Freddie Mac’s loan limits. To qualify for a jumbo loan, lenders require applicants to meet specific requirements, such as high credit scores, low debt-to-income (DTI) ratios, and adequate cash reserves. Credit score requirements for jumbo loans vary by lender, but most require a minimum of 680, with some lenders requiring scores as high as 760, depending on the property type and transaction type. 

Lenders also take into account the debt-to-income ratio, which is the percentage of a borrower’s monthly gross income that is used to pay off obligations. Jumbo lenders require a DTI ratio of less than 45%, while other lenders may agree to a higher DTI ratio. Jumbo borrowers need adequate cash reserves to make mortgage payments and other obligations in the event of an unexpected financial emergency. The amount of cash reserves required varies depending on the lender, the type of property, and the borrower’s credit history.

Apply For a Home Loan in Spokane Valley

It’s crucial to note that a specific individual’s perfect home loan program will be determined by their particular financial situation, credit score, and home-buying goals. It would be beneficial to speak with one of our Home Loan Specialists about available options and the best fit for your needs.

Call (509) 413-0502 to apply over the phone, or use the tools on this site to get started.

Why Spokane Valley 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

7  Day a Week Support Application to Final Mortgage Payment

Spokane Valley 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

Spokane Valley Mortgage Programs

Spokane Valley Home Purchase

Thinking of Buying a Spokane Valley 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

Spokane Valley renovation home loans

Looking to Rehab a Spokane Valley 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

Spokane Valley FHA Home Loans

Great for 1st Time Spokane Valley 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

Spokane Valley VA Home Loans

100% Financing for Spokane Valley 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

Spokane Valley Conventional Home Loans

Flexibility for Spokane Valley 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

Spokane Valley Jumbo Home Loans

Spokane Valley 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

Spokane Valley USDA Home Loans

100% Spokane Valley 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

Spokane Valley Native American Loans

Spokane Valley 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

Spokane Valley Manufactured Home Loans

Great Alternative Spokane Valley 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

Spokane Valley reverse mortgages

Your Spokane Valley 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

Spokane Valley Non QM Home Loans

Making Spokane Valley 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

Spokane Valley One Time Close mortgages

Build Your Spokane Valley 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

Spokane Valley Refinance Mortgage Loans

Spokane Valley 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

Spokane Valley Cash-out Home mortgages

Spokane Valley 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

Spokane Valley Washington Mortgage Team

Kathy Rubin

Sr Loan Officer
NMLS 204449

Damon Embler

Sr Loan Officer
NMLS 882260

Matt Williams

Sr Loan Officer
NMLS 1945867

Dale Gremillion

NMLS 210325

Spokane Valley Mortgage Company Reviews

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