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Mortgage Lender Yakima Washington

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.

Why Yakima 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

Yakima 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

Yakima Mortgage Programs

Yakima Home Purchase

Thinking of Buying a Yakima 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

Yakima renovation home loans

Looking to Rehab a Yakima 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

Yakima FHA Home Loans

Great for 1st Time Yakima 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

Yakima VA Home Loans

100% Financing for Yakima 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

Yakima Conventional Home Loans

Flexibility for Yakima 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

Yakima Jumbo Home Loans

Yakima 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

Yakima USDA Home Loans

100% Yakima 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

Yakima Native American Home Loans

Yakima 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

Yakima Manufactured Home Loans

Great Alternative Yakima 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

Yakima reverse mortgages

Your Yakima 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

Yakima Non QM Home Loans

Making Yakima 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

Yakima One Time Close mortgages

Build Your Yakima 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

Yakima Refinance Mortgage Loans

Yakima 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

Yakima Cash-out Home mortgages

Yakima 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

Yakima 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

Yakima Mortgage Company Reviews

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