Capital Home Mortgage Tacoma

Tacoma home purchase loans

Home Purchase lender Tacoma

Home Purchase Loans In Tacoma

Are you thinking about buying a house in the Tacoma area? Capital Home Mortgage can make it possible with a loan to purchase a property. Homebuyers have the flexibility to select the home loan program that is most suitable for their income and level of financial responsibility, thanks to the variety of mortgage solutions that we offer. 

Tacoma Purchase Loan Programs

Let our Tacoma home loan experts help you find the best mortgage solution. The following are some of our purchase loan programs in Tacoma:

  • Conventional Loans

Conventional loans are the most prevalent form of mortgage financing, not guaranteed by the federal government. Private lenders offer conventional loans compliant with Fannie Mae and Freddie Mac’s lending standards. Conventional loans can either be conforming or non-conforming.

  • Conforming Loans

A conventional conforming loan is a type of mortgage loan in the United States that adheres to the requirements established by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). These loans meet specific criteria, such as the Federal Housing Finance Agency’s (FHFA) maximum loan size, loan-to-value ratio, debt-to-income ratio, credit score and history, documentation requirements, etc. The conforming loan limit for one-unit single-family homes in Tacoma for 2023 is $977,500.

  • Non-Conforming Loans

Non-conforming loans in Tacoma are mortgages that do not comply with the guidelines established by government-sponsored enterprises Fannie Mae and Freddie Mac. They cannot be sold to GSEs. These loans may not adhere to various guidelines, including maximum loan amounts and properties, down payment, and credit requirements. These loans typically have higher interest rates than conforming mortgages.

  • FHA Loans

An FHA loan is a mortgage insured by the Federal Housing Administration (FHA). FHA loans were intended to allow average Americans to own a home. This loan is designed to help lower-income and first-time homeowners qualify for a mortgage by providing more flexible credit requirements and demanding a lesser down payment than traditional loans. The minimal down payment for an FHA loan is usually 3.5% of the home’s purchasing price.

FHA loans are issued by FHA-approved private lenders. The FHA guarantees a portion of the loan if the borrower defaults, enabling the lender to offer the borrower more favorable terms. Specific requirements must be met to qualify for an FHA loan in Tacoma. For instance, to qualify for the 3.5% down payment, a credit score of 580 or higher is required. If you have a credit score between 500 and 579, you may still be eligible for an FHA loan, but you must make a 10% down payment. In addition, your debt-to-income ratio should be at most 43%.

The FHA loan limit for 2023 in Tacoma for a single-unit family home is $977,500.

  • VA Loans

A Tacoma VA home loan is a mortgage option available to current or former United States Armed Forces members and their families who intend to reside in Tacoma, Washington. The United States Department of Veterans Affairs offers the loan program. It provides several benefits designed to make purchasing a property more affordable for service members, veterans, and their families.

A Tacoma VA home loan is advantageous for military service members and veterans seeking to purchase a home in Tacoma, WA, as it provides favorable terms, financial advantages, and comprehensive assistance throughout the application and homebuying process.

The primary benefits of this form of loan include no down payment, lower interest rates, and no mortgage insurance requirements. The VA guarantees a portion of the loan amount, eliminating the need for the Veteran to make a down payment. 

  • USDA Loans

The USDA Rural Development Single Family Housing Programs enable families and individuals to purchase, construct, or renovate affordable homes in rural America. Under certain conditions, these programs allow qualifying individuals and families to buy or build a new single-family home with no money down, update their existing home, or refinance their current mortgage.

To be eligible for these loans, applicants must meet specific criteria, including being without adequate, safe, and sanitary housing, being unable to obtain a loan from another source on reasonable terms and conditions, must occupy the property as their primary residence, having the legal capacity to incur a loan obligation and ability to make monthly payments, and meeting citizenship or eligible noncitizen requirements.

  • Non-Qualified Mortgage Loans

Non-qualified mortgage loans are mortgage loans that do not always follow the strict underwriting requirements established by government agencies or traditional loan programs. Borrowers can qualify for these loans using alternative methods rather than the traditional income verification process that most loans require. These loans are exempt from the Consumer Financial Protection Bureau’s (CFPB) requirements for qualified mortgages.

Non-QM loans are designed to provide a mortgage option to individuals who do not qualify for conventional mortgage programs, such as self-employed individuals, retirees, and investors. Their underwriting procedure is adaptable, accommodating a variety of financial circumstances that may not satisfy the stricter requirements for a qualified mortgage.

  • Jumbo Loans 

Jumbo loans are non-conforming mortgages that fund amounts that exceed the conforming loan restrictions established by Fannie Mae and Freddie Mac, two government-sponsored organizations that acquire and guarantee mortgages from lenders. This cap is $977,500 in Tacoma for 2023. A jumbo mortgage is a home loan that exceeds this maximum.

Jumbo loans typically have higher interest rates than conforming mortgages because they pose a greater risk to lenders. The precise rate could be affected by several factors, such as the borrower’s credit score, property type, appraised value, and debt ratios.

Apply for a Home Purchase Loan in Tacoma

Capital Home Mortgage can help if you want to buy a home in Tacoma. We provide several significant advantages to Tacoma home buyers. For starters, a home mortgage includes payment flexibility. Second, given Tacoma’s continually rising property prices, it offers the opportunity for capital appreciation, which could improve the value of a homeowner’s investment over time. Finally, by choosing Capital Home Mortgage, buyers may benefit from current Tacoma housing market trends, such as increasing inventory and slowing price growth in 2023, which have created additional possibilities for potential buyers.

Call (803) 600-0088 to speak with our Tacoma Home Loan Specialists and get started on your path to homeownership!

Why Tacoma 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

Tacoma 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

Tacoma Home Purchase Loans

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, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Tacoma 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.

Tacoma 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.

Tacoma Mortgage Programs

Tacoma Home Purchase

Thinking of Buying an Tacoma 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, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Tacoma renovation home loans

Looking to Rehab an Tacoma Home?

Want 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

Tacoma FHA Home Loans

Great for 1st Time Tacoma 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

Tacoma VA Home Loans

100% Financing for Tacoma 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

Tacoma Conventional Home Loans

Flexibility for Tacoma 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

Tacoma Jumbo Home Loans

Tacoma 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

Tacoma USDA Home Loans

100% Tacoma 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

Tacoma Native American Home Loans

Tacoma 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

Tacoma Manufactured Home Loans

Great Alternative Tacoma Housing

Tacoma reverse mortgages

Your Tacoma 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

Tacoma Non QM Home Loans

Making Tacoma 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

Tacoma One Time Close mortgages

Build Your Tacoma 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

Tacoma Refinance Mortgage Loans

Tacoma 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

Tacoma Cash-out Home mortgages

Tacoma 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

Tacoma 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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