Capital Home Mortgage Spokane

Spokane VA Home Loans

VA Mortgage Lender Spokane Washington

VA Home Loans In Spokane Washington

A Spokane VA home loan is a mortgage loan made by a private lender guaranteed by the United States Department of Veterans Affairs (VA) for eligible military service members, veterans, and surviving spouses in Spokane, Washington. The program’s goal is to make homeownership more accessible for these people.

Given the city’s substantial military presence, many residents could benefit from these loans. These loans can be used to buy or refinance a house. When purchasing, the loans allow for no down payment and no monthly mortgage insurance, with the option of seller-paid closing costs. Cash-out refinances will enable homeowners to get up to 90% of the cash value of their property for purposes such as debt reduction or home upgrades.

Although these loans generally follow the same processing stages across the country, there may be specific standards for Spokane. These could include energy efficiency rules, pest inspections, and environmental concerns, among other standards that differ by state.

Benefits of VA Loans

Veterans, active-duty military personnel, and certain surviving spouses are among those who are eligible for VA home loans. While the VA home loan has many benefits, it is also crucial to understand its drawbacks, such as the VA funding fee, an upfront expense associated with these loans.

Here are some of the main advantages of a VA loan:

  • No Down Payment Requirement

VA loans are unique in that they do not need a down payment. This can assist qualified borrowers in becoming homeowners without saving a significant amount of money upfront.

  • No Private Mortgage Insurance (PMI)

Unlike many other types of mortgages, VA loans do not necessitate the payment of private mortgage insurance, which can result in significant cost savings over the life of the loan.

  • Competitive Interest Rates

Compared to alternative mortgage options, VA loans frequently have lower interest rates, making homeownership more accessible.

  • Higher Allowable DTI Ratio

VA loans often have a more forgiving debt-to-income ratio, making it possible for borrowers with more significant debt to qualify for a mortgage.

  • Credit Flexibility

The VA loan program is more forgiving regarding credit scores and history, making it a feasible choice for folks who may not qualify for other types of mortgages.

  • Limited Closing Costs

VA loans also limit buyers’ ability to pay closing costs, possibly saving them thousands of dollars at the time of purchase.

  • Lifetime Benefit

VA home loan benefits can be used several times throughout the borrower’s life, even after a previous VA loan has been foreclosed on.

  • No Prepayment Penalty

VA loans do not have a prepayment penalty, so borrowers can pay off their loans early without paying additional fees.

  • Assumable Loans

If the homeowner sells the property, the buyer can take over the VA loan under the same terms, which can be a significant selling advantage if mortgage interest rates have risen since the loan was granted.

Eligibility Requirements of VA Home Loan

To be qualified for a VA home loan in Spokane, you must meet the Veterans Affairs Department’s eligibility requirements:

  • Service Requirements

The borrower must have served at least 90 days of continuous active service during war or peacetime without receiving a dishonorable discharge. The specifics of your active-duty service obligation are determined by the time you served. For example, military members who have served for at least 90 consecutive days meet the criterion, whereas veterans’ service time varies.

  • Certificate of Eligibility (COE)

A COE must demonstrate to your lender that you are qualified based on your military history and current duty status. This can be done through the VA, and you may need to provide evidence such as discharge or separation papers (DD214) for veterans or a statement of service for active-duty service members. Your full name, Social Security number, date of birth, date of entry into duty, length of any missed time, and the name of the command providing the information should all be included in the statement of service.

  • Credit and Income Requirements

While the VA does not require a specific credit score, the lender providing the VA loan may. Furthermore, you must have a consistent source of income that is sufficient to cover your monthly costs, including your new mortgage payment.

  • Personal Occupancy

The home you buy with a VA-guaranteed loan must be for your personal use as a primary residence.

Apply for a Spokane VA Home Loan with Capital Home Mortgage

Homebuyers in Spokane, especially veterans, and active-duty military personnel, should choose Capital Home Mortgage for their VA home loans for several compelling reasons. Local mortgage companies, such as Capital Home Mortgage, provide more individualized service, with faster loan approval and a deeper understanding of the local market than larger institutions or online brokers. This can be advantageous when navigating Spokane’s highly competitive real estate market. In addition, Capital Home Mortgage can offer loan options that are more adaptable to your specific needs and circumstances. These factors make Capital Home Mortgage the preferred lender for Spokane VA home loans.

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

Why Spokane 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

Spokane 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

Spokane VA Purchase Loans

VA Purchase Mortgage Lender
  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed
  • No Monthly Mortgage Insurance
  • Seller concessions to 4%
  • higher debt to income Allowed
  • Manufactured homes permitted

Spokane VA Refinance

VA Refinance Mortgage Lender
  • VA IRRRL Rate & Term
  • Streamline Option
  • No Appraisal Required
  • No Income Verification

Spokane VA Ellgibility

  • Active Duty – 90 days Wartime / 180 Days Peacetime
  • Honorable Discharged – 22 Months of Completed Service
  • National Guard / Reserves – 6 Years Completed Service
  • Spouse of a Service Member who Died in the line of Duty or Service related Disability
Spokane Mortgage Programs

Spokane Home Purchase loans

Looking to Purchase a Spokane 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

Spokane Renovation Home Loans

Looking to Rehab a Spokane 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

Spokane FHA Home loans

Great 1st Time Spokane 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

Spokane va Home Loans

100% Financing for Spokane 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

Spokane Conventional Home Loans

Flexibility for Spokane 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

Spokane Jumbo Home Loans

Spokane 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

Spokane USDA Home loans

100% Rural Spokane 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

Spokane Native american Home Loans

Spokane 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

Spokane Manufactured Home loans

Great Alternative Spokane 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

Spokane Reverse Mortgage Loans

Your Spokane 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

Spokane Non QM Home loans

Making Spokane 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

Spokane One Time Close Home Loans

Build Your Spokane 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

Spokane Refinance Mortgage loans

Spokane 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

Spokane Cashout Mortgage Loans

Spokane 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

Spokane 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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