Yakima Mortgage Lender
Welcome to Capital Home Mortgage Yakima, where we are committed to helping homebuyers and homeowners achieve their dreams with tailored Yakima home loans. Our mission is to provide highly competitive mortgage rates and low fees, ensuring you receive the best possible value. At the heart of our service is an unwavering dedication to delivering an outstanding customer experience. We believe every step of your home financing journey should be met with support, clarity, and care.
We are honored by the opportunity to earn your business and recognize the profound significance of purchasing a home. For most, it’s a life-changing decision—the foundation of a secure future and where memories are made. At Capital Home Mortgage Yakima, we understand the weight of this decision, which is why we go above and beyond to create a mortgage experience that’s as efficient as it is. From the beginning, you’ll be connected with a dedicated mortgage expert who will guide you through the entire process, ensuring your questions and concerns are answered. Our goal is to make the journey as smooth as possible, leading to a stress-free, on-time closing. After all, buying a home is an exciting new chapter, and we want to help you focus on the joy it brings, not the complexities of the process.
Capital Home Mortgage Yakima is a direct mortgage lender that handles every aspect of the lending process in-house. This means that from the moment you apply to the final approval and closing, you’re working closely with our team of experienced professionals. With in-house processing and underwriting, we are able to deliver quick decisions based on common-sense assessments, ensuring that your loan process moves forward without unnecessary delays. Our streamlined approach allows for faster approvals and closings so you can move into your new home sooner and with greater peace of mind.
Whether you’re a first-time homebuyer, looking to refinance, or searching for the right loan for your next move, Capital Home Mortgage Yakima is here to assist you with personalized solutions that meet your needs. Our team of knowledgeable Yakima loan officers is ready to provide expert advice and guidance tailored to your unique situation.
Don’t hesitate to reach out today at (253) 528-4417 to speak with one of our Yakima loan experts. Let us show you how easy and stress-free the mortgage process can be when you have the right team by your side. Together, we’ll turn your ownership dreams into reality with the personalized service and expertise that sets us apart.
Home Loans In Yakima, Washington
Yakima is a city in Washington state in Yakima County. It is situated in the rich Yakima Valley, renowned for its apple orchards and wineries. Yakima is the 11th-largest city in Washington state, with a somewhat competitive real estate market. The average median price of single-family homes is $350,000., way below the 2023 national average of $474,400.
Mortgage Programs in Yakima
Various home loan programs are available for any home buyer in Yakima. From first-time home buyers to seasoned homeowners, there’s a mortgage program that meets every borrower’s need. Here are some of the most prevalent home loans in Yakima:
- Conventional Loan
A conventional loan is any mortgage loan that is neither federally insured nor guaranteed (such as under the Federal Housing Administration, Department of Veterans Affairs, or Department of Agriculture loan programs). They can be either conforming or non-conforming.
The minimum credit score to qualify for a conventional loan in Yakima is 620. The maximum loan amount for a conventional loan in Yakima county is $726,200 for a 1-unit home, 2-units is $929,850, 3-units is $1,123,900, and $1,396,800 for 4-units, respectively.
- FHA Loan
FHA loans offer an excellent opportunity to purchase a property in Yakima, Washington. The FHA (Federal Housing Administration) was established to assist the average American in buying a home. One of the reasons FHA loans are so popular is the low down payment requirement. FHA loans enable the purchase of a house with a 3.5% down payment. It is possible to qualify for an FHA loan with a credit score as low as 580 (as opposed to conventional loans, which have stricter standards).
The FHA loan limits for Yakima county in 2023 are $472,020 for a 1-unit home, $604,400 for 2 units, $730,525 for 3 units, and $907,900 for 4 units, respectively.
- USDA Loan
The United States Department of Agriculture designed the rural development loan (also known as the “USDA guaranteed loan” or the “USDA rural housing loan”) to encourage home ownership among low- and middle-income families. USDA loans are not limited to helping low-income families purchase a property in a rural location. They are also offered to households with moderate incomes.
A credit score of 640 is required for USDA home loans. There is also an income requirement; a borrower’s household income must not exceed 115% of the area median income (AMI). Additionally, the purchased property must be located within the USDA-eligible area map. Fortunately, the entire Yakima county is eligible for USDA financing.
- VA Home Loan
A VA home loan is a benefit offered by the Department of Veterans Affairs (VA) to assist service members and veterans in constructing, purchasing, or refinancing a home. The Department of Veterans Affairs backs VA home loans, so the loan is guaranteed if you default. However, mortgage companies administer these loans, not the VA. The primary benefit of a VA home loan is that you can make no down payment and qualify for lower interest rates due to the reduced risk to the lender.
Va loans require no mortgage insurance and offer 100% financing up to $2 for veterans with full entitlement.
- Jumbo Loan
The conforming loan limit in Washington state for 2023 is $726,200. Unless you buy a property in a “high-cost area” with a loan limit of $977,500, a loan exceeding the conforming loan limit must be a jumbo mortgage.
Jumbo loans require a down payment of 10 – 20% of the purchase price. A credit score of 700 is the minimum requirement in most cases, and borrowers must maintain a debt-to-income (DTI) ratio of no more than 45% to be eligible for a jumbo loan.
Apply for a Home Loan with Capital Home Mortgage
Capital Home Mortgage is committed to making the home-buying experience pleasant for every client, ensuring their overall satisfaction. Regarding real estate transactions, we recognize the importance of maintaining a sense of urgency. Due to this, we ensure that we have all the necessary tools and resources to expedite the loan approval process.
Call us at (253) 528-4417 to apply for a home loan, or use the tools on this site to get started.
Home Loans In Yakima, Washington
How long does the process of buying a brand-new home usually take?
Due to the way the housing market is right now, it is likely that you will spend close to a year looking for and negotiating the purchase of your new home. There is a good chance that most of that time will be spent looking for the perfect home.
Because of how supply and demand work together, the scales are currently tipped in favor of sellers. This makes it much harder to find a piece of real estate that meets both your needs and your budget in the current market.
Homebuying Timeline
Getting your mortgage application pre-approved (One or Two Days)
The first thing you need to do to get a mortgage is fill out an application for pre-approval. In this step, your lender will check the information you gave them about your finances to figure out how much of a mortgage you can afford. If you are approved for the loan, the financial institution that will be handling it for you will send you a letter with an official estimate of how much money they are willing to lend you.
Searching for a new place to live (3–6 months): The most time-consuming part of buying a home is usually finding the right house. In a very competitive housing market, it could take you anywhere from a few months to a year to find a home that meets all of your needs. During this time, you will be looking for the right home for you.
To get through this part of the process more quickly, it’s best to work with a real estate agent who knows both the area and the market.
Making An Offer (Depending On How The Negotiations Go)
When you’ve found the house of your dreams and are ready to buy it, your real estate agent can help you make an offer and write an offer letter that explains the terms and conditions of the deal. Once you’ve found the house of your dreams and are ready to buy it, you’ll be able to do this.
If your offer can only be paid for in cash, you should include a letter saying that you have the money to complete the deal if you want it to be taken seriously. If you want to get a mortgage, include a letter from a lender saying that you have been pre-approved. This will show the seller that you can get a loan, which will make them more likely to accept your offer.
Follow these steps to put the final touches on your mortgage and get ready for the closing. (Roughly 1 month)
Now that both parties have signed the purchase agreement, it’s possible that the application process for a mortgage can start. Most loan providers need anywhere from 30 to 45 days to settle on the terms of your loan. First, your mortgage lender will do an underwriting on your loan. Then, they will set up an appraisal of your home to see if it meets the basic requirements for getting a mortgage. If it does, then your loan will get approved.
During this time, you might also want to think about getting a home inspection to find out if there are any problems with the property that you didn’t know about before.
Bringing Your Loan to a Close (A Week or Less)
After your lender has finished underwriting your loan and the appraiser has given the all-clear, it’s time to close on your property.
Your lender will give you a document called the Closing disclosure in the days leading up to the closing. This document gives you a summary of the terms of your loan. Before the deadline, you have at least three days to finish reading it.
After three days, your lender will contact you to set up a time for the closing meeting. At this time, you will sign the paperwork for your mortgage loan, take ownership of your new home, and pay your closing costs and down payment.
Mortgage Lender In Yakima, WA
Have you ever considered buying a brand-new house in the Bellevue area? Capital Home Mortgage can guide you through the process and help you choose the option that will best meet your needs. Conventional loans, government-backed loans, and jumbo loans are just some of the options you can get from our business to meet the needs of each and every potential client.
Capital Home Mortgage, one of the most well-known mortgage lenders in the state of Washington, is in the enviable position of being able to offer our customers a flexible underwriting policy, low fees, and competitive interest rates. This is because Capital Home Mortgage has the advantage of being one of the most well-known mortgage lenders in the state. We are here to help you through the process of buying a house, whether this is your first time doing so, you are a veteran who is still serving or has retired from the military, or you have bought a house before.
If you want a home loan in Yakima, please fill out this application right away.
Capital House Mortgage is dedicated to making the process of buying a home fun for each and every one of our clients and making sure they are happy with the whole thing. When it comes to real estate transactions, we know it’s important to keep a sense of urgency. Because of this, we make sure we have all the right tools and resources so that we can speed up the time it takes to ask for a loan, get it approved, and get the money.
You can count on us to finish the application process on time and to minimize any delays or problems that might come up.
Just give us a call at (253) 528-4417, and we’ll be happy to help you get a house loan in the Yakima area.
Yakima Mortgage Rates
Yakima Real estate Market
Yakima’s economy has been robust, with diverse industries contributing to job growth and economic stability. Cities like Nashville, Memphis, Knoxville, and Chattanooga have seen significant development and attract both businesses and residents, boosting the real estate market.
Yakima has experienced steady population growth fueled by factors such as job opportunities, affordable living costs, and quality of life amenities. Increased demand for housing, both rental and ownership, has positively impacted the real estate market across the state.
Compared to many other states, Yakima offers relatively affordable housing options, attracting first-time homebuyers, retirees, and investors. This affordability has contributed to sustained demand and a healthy real estate market.
Several cities in Yakima have undergone urban revitalization efforts, leading to the redevelopment of downtown areas, the creation of mixed-use developments, and the enhancement of public spaces. These initiatives have increased property values and attracted new residents and businesses.
Yakima’s tourism industry, centered around attractions like the Great Smoky Mountains, Nashville’s music scene, and historical sites, has bolstered the real estate market, particularly in areas with high tourist traffic. Vacation rentals, hotels, and hospitality-related properties have seen increased demand.
Yakima’s real estate market has attracted attention from investors seeking favorable returns and opportunities for growth. Residential and commercial properties, as well as real estate development projects, have been of interest to both local and out-of-state investors.
Despite its strengths, Yakima’s real estate market faces challenges such as infrastructure needs, affordable housing shortages in some areas, and potential impacts from external factors like natural disasters or economic downturns. Addressing these challenges will be essential for sustaining the market’s growth and stability.
Yakima’s real estate market presents opportunities for buyers, sellers, and investors alike. Favorable economic conditions, population trends, and affordability drive continued growth and development. However, staying informed about market dynamics and local factors is crucial for making informed decisions in this dynamic environment.
Yakima Home Mortgages
Capital Home Mortgage Yakima is a full-service Yakima Mortgage Lender that offers a complete line of home loans to meet all Yakima Residents lending needs: Yakima Purchase Home Loans, Yakima Renovation Home Loans, Yakima Construction Home Loans, Yakima Manufactured Home Loans, Yakima Rate and Term Refinance Home Loans and Yakima Cash-Out Home Loans.
Yakima Purchase Mortgages
At Capital Home Mortgage Yakima, we are committed to offering homebuyers a comprehensive selection of Yakima home purchase loans. We know that buying a home is one of life’s biggest decisions and can often feel overwhelming. That’s why we provide dedicated professionals to guide you through every step of the process and provide a clear education on the various loan options available. Our mission is to make your home buying experience smooth and stress-free, helping you confidently choose the loan that best suits your unique needs.
Yakima Rate and Term Refinance Home Loans allow borrowers to replace their existing mortgage with a new one to secure more favorable terms. The main objective is often to reduce the interest rate, resulting in lower monthly payments or to adjust the loan duration, which can either reduce payments or shorten the mortgage term. In some cases, this type of refinance can also help transition from one loan program to another, potentially eliminating the need for mortgage insurance and offering significant savings and flexibility to homeowners.
Yakima Cash out Mortgages
Yakima Cash Out Refinance Home Loans offer homeowners the opportunity to tap into their home’s equity by refinancing for an amount greater than their current mortgage balance. The difference is provided in cash, which can be used for various purposes, such as consolidating debt at closing. Unlike rate and term refinance, cash-out refinances typically have lower loan-to-value limits and may come with slightly higher interest rates, but they provide a valuable way for homeowners to access funds when needed.
Yakima One Time Close Construction Home Loans simplify the home-building process by combining the construction loan and permanent mortgage into a single loan, eliminating the need for multiple applications and closings. This saves time and reduces costs compared to traditional construction loans, which require a separate mortgage after construction is complete. Additionally, One Time Close loans can be paired with standard mortgage products, allowing for much lower down payments and making the process more convenient and affordable for homebuyers.
Yakima Renovation Mortgages
Looking for a new Yakima home but not interested in buying from a builder? Whether you’re drawn to the charm of an older home, the appeal of a well-established neighborhood, or the perfect location close to town, updating an existing house could be the key to making your dream a reality. Capital Home Mortgage offers a wide range of Yakima Renovation Home Loans to help bring that vision to life. We’ll guide you through every step of the process, handling the complexities of construction or rehab loans so you can focus on transforming your home into exactly what you’ve envisioned.
Yakima Manufactured Mortgages
Modern manufactured homes offer impressive design sophistication and amenities comparable to traditional site-built homes. Available in single-wide, double-wide, or even larger configurations, these homes are built using high-quality materials and techniques that meet rigorous standards. Constructed on steel chassis, they provide faster build times and cost-saving advantages. If you’re considering a manufactured home, contact us today to explore our range of Yakima Manufactured Home Loans and discover how we can help make homeownership more affordable and accessible.
Yakima Purchase Home Loans
Capital Home Mortgage Yakima is your trusted full-service lender, providing a comprehensive selection of home loan options designed to cater to the unique needs of every Yakima homebuyer. Whether you’re stepping into homeownership for the first time with an FHA loan, seeking a USDA loan for a rural property, a Native Tennessean leveraging the HUD 184 Native American Home Loan, an active or retired veteran qualifying for a VA loan, aiming to finance your dream home with a jumbo loan, or an experienced buyer exploring conventional or non-QM loans, our dedicated team has the expertise and resources to guide you every step of the way. We are committed to helping you navigate the mortgage process smoothly and achieve your homeownership goals with confidence and ease.
Yakima FHA Home Loans
A Yakima FHA Home Mortgage, backed by the Federal Housing Administration, provides an excellent opportunity for a diverse range of homebuyers to achieve their dream of homeownership. Specifically designed to support low-to-moderate-income individuals and first-time buyers, FHA loans offer the benefit of a smaller down payment, making it easier to get started. These flexible loans are available to anyone, regardless of their background, thanks to adaptable credit score requirements and the option to use gift funds toward the down payment. Additionally, qualifying for a Yakima FHA home loan requires a stable employment history and documented income, ensuring borrowers are well-prepared for success. Whether you’re new to the housing market or seeking favorable loan terms, a Yakima FHA Home Mortgage can be the key to securing a comfortable and affordable home.
A Yakima VA Home Mortgage is an exceptional financing option designed specifically for qualified veterans, active-duty service members, and select surviving spouses in Yakima. These loans are offered by private lenders but are guaranteed by the United States Department of Veterans Affairs, enabling borrowers to take advantage of highly favorable terms such as no down payment and the elimination of private mortgage insurance (PMI). VA home loans are widely accessible, featuring competitive interest rates and flexible credit standards that make homeownership more attainable for those who have served our country. Whether you’re looking to purchase your first home, upgrade to a larger property, or refinance an existing mortgage, a Yakima VA Home Mortgage provides the support and advantageous terms you deserve, ensuring a smooth and affordable path to securing your dream home.
Yakima USDA Home Loans
A Yakima USDA Home Mortgage is an exceptional zero-down financing option provided by the U.S. Department of Agriculture, designed to support low-to-moderate-income buyers in achieving homeownership. These USDA home loans come in two distinct forms: USDA-Guaranteed and USDA-Direct. The USDA-Guaranteed Home Loan is offered through private lenders and backed by the USDA, while the USDA-Direct Home Loan is provided directly by the USDA itself. To qualify for USDA financing, your home must be situated in an approved rural area, and your household income must not exceed 115% of the median income for your region when applying for Guaranteed Loans. By offering these flexible and accessible loan options, Yakima USDA Home Mortgages make it easier for eligible buyers to secure their dream homes without the burden of a down payment.
Yakima Native American Home Loans
A Yakima Native American Mortgage, also known as a HUD Section 184 Guaranteed Home Loan, is a specialized government-backed loan exclusively available to registered Native Americans in Yakima. This unique mortgage program offers more accessible credit qualifications and provides access to tribal grants, making homeownership more attainable for eligible individuals. Additionally, the HUD 184 Home Loan delivers the flexibility to finance both the purchase and renovation of a home, allowing you to create a living space that perfectly suits your needs. Combining these benefits, a Yakima Native American Mortgage empowers you to secure and enhance your home with greater ease and support, ensuring a smoother and more rewarding homeownership experience.
Yakima Conventional Home Loans
A Yakima Conventional Home Mortgage adheres to the standards set by government-sponsored enterprises Fannie Mae and Freddie Mac, providing flexible financing options for primary residences, secondary homes, and investment properties. These conforming loans are accessible to a wide range of borrowers, requiring a minimum credit score of 620, stable income, and a down payment. With annual loan limits updated each January 1st to reflect the median home prices in your local area, Yakima Conventional Home Mortgage offers reliable and adaptable solutions tailored to the evolving real estate market. Whether you’re purchasing your first home, upgrading to a larger property, or expanding your investment portfolio, our Conventional Home Loans are designed to help you achieve your property goals.
Yakima Jumbo Home Loans
A Yakima Jumbo Home Mortgage is designed for those looking to finance high-value luxury properties that exceed standard conventional loan limits. As property values continue to rise, these premium loans have become increasingly popular among discerning homebuyers. Yakima Jumbo Home Mortgages offers flexible financing options, including fixed-rate terms of 30 years and 15 years and adjustable-rate alternatives to suit your financial preferences. With the ability to finance up to $3,000,000 at 90% loan-to-value, these mortgages provide substantial purchasing power without the burden of Private Mortgage Insurance (PMI). Whether you’re investing in a dream home or expanding your real estate portfolio, our Jumbo Home Mortgages deliver the competitive rates and comprehensive support you need to secure your luxury property with confidence and ease.
A Yakima Non-Qualified Mortgage, commonly referred to as a Non-QM loan, is a type of mortgage that does not conform to the standards set by government-sponsored enterprises (GSEs) for qualified mortgages. This loan option is particularly suitable for borrowers who do not meet the stringent criteria of a qualified mortgage, including individuals with inconsistent income or elevated debt-to-income ratios.
Yakima Reverse Home Loans
A Yakima Reverse Mortgage is a financial tool designed for homeowners aged 62 and older. It allows them to convert part of their home equity into tax-free cash without selling their property or making monthly payments. Offered through Capital Home Mortgage Yakima and backed by the FHA’s Home Equity Conversion Mortgage (HECM) program, this loan helps seniors supplement their retirement income, cover medical expenses, or make home improvements. The loan is repaid only when the homeowner sells the home, moves out permanently, or passes away, enabling them to stay in their home while enjoying financial flexibility. Capital Home Mortgage Yakima provides expert guidance throughout the process to ensure homeowners make informed decisions that align with their financial goals.
Why Yakima is Choosing Capital Home Mortgage
Complete Control from Application to Funding
Direct Lender with Complete Mortgage Programs
Customer Support Application to Final Payment
Yakima Mortgage Company Reviews
Yakima Mortgage Team
Yakima Mortgage Programs
Yakima Home Purchase loans
Looking to Purchase a Yakima Home?
- Primary, 2nd Home, Investment
- Competitive Rates & Fees, No fee Options
- FHA, VA, USDA, Native American
- Conventional, Jumbo & Renovation
- Manufactured, Construction, Reverse
Yakima Renovation Home Loans
Looking to Rehab a Yakima Home?
- Remodel, Renovate or Repairs
- FHA 203K Streamline
- FHA Full Documentation Rehab
- Fannie Mae Homestyle Reno
- Freddie Mac Home Choice Reno
Yakima FHA Home loans
Great 1st Time Yakima Homebuyers
- Smaller Down Payments
- Flexible Underwriting Guidelines
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Down Payment Gifts Allowed
Yakima va Home Loans
100% Financing for Yakima Vets
- No Mortgage Loan Limits
- Simple Qualifying
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Manual Underwriting Allowed
Yakima Conventional Home loans
Flexibility for Yakima Homebuyers
- Primary, 2nd Home, Investment
- Single and Multi-Family Properties
- Variable Mortgage Insurance Options
- Low Rates & a Variety of Terms
- Renovation Programs Available
Yakima Jumbo Home Loans
Yakima Non-Confirming Home Loans
- Primary & 2nd Homes
- Variety of Mortgage Programs
- Simple Qualifying for Veterans
- Investor Specific Guidelines
- Credit Score Minimums
Yakima USDA Home loans
100% Rural Yakima Home Loans
- Primary Residences
- No Down Payment Required
- New Manufactured Homes Allowed
- Closing Costs / Repairs Rolled In
- Geographic and Income Limits Apply
Yakima Native american Home Loans
Yakima Hud 184 Home Loans
- Primary Residence Only
- Manual Underwriting for All Loans
- No Credit Score Requirements
- Tribal Grants Allowed
- Purchase, Refinance, and Renovation
Yakima Manufactured Home loans
Great Alternative Yakima Housing
- Existing Purchase or Refinance
- New Construction
- One Time Close Land/Home Combo
- Lock at Contract
- FHA, VA, USDA, Native American
Yakima Reverse Mortgage Loans
Your Yakima Home at Work
- Primary Residence Only
- Simple Qualifying – Equity Based
- No Credit Score Requirements
- Minimum Age 62
- Purchase, Refinance, and Cash-Out
Yakima Non QM Home loans
Making Yakima Mortgages Possible
- Purchase, Refinance & Cash-out
- Primary, Secondary, Investment
- Full Doc Programs
- Alt Doc Programs
- Corporations OK
Yakima One Time Close Home Loans
Build Your Yakima Dream Home
- Primary Residences Only
- One Time Close
- Lock Rate at Closing
- Traditional Final Mortgages
- No Payments During Construction
Yakima Refinance Mortgage loans
Yakima Rate & Term Refinance
- Lower Monthly Payment
- Shorten Mortgage Term
- Streamline Options Available
- Appraisal Waivers Allowed
- VA IRRRL’s
Yakima Cashout Mortgage Loans
Yakima Equity Mortgage Loans
- Debt Consolidation
- Investment Opportunities
- Home Improvement
- Dream Vacation
- Higher Education