When out and about in the Evergreen State, you may spot a piece of property against which you can get funding from the best financing authority in the Pacific Northwest, the Federal Housing Administration. Indeed, FHA mortgage Washington serves all prospective homeowners from Seattle to Tacoma and elsewhere. When you apply through the FHA Home Loan Group, you can be sure that our experts will act as your go-between with the Housing Department (HUD).
Types of Homes Eligible for the Program
You can select any of the following properties that have gone through the approval of HUD:
- 1. A condominium within a county of this state.
- 2. An existing property that dates back to five years.
- 3. Planned developments, townhomes and mobile homes also qualify.
Which type of property above meets your particular tastes? If you can’t place one presently, we can assist you!
Size of Home to Select
FHA mortgage WA comes with a range of home sizes that will only suit the total members of your family but your budget, too. Here are the details for certain counties:
- A single-family unit in a low-cost county like Lincoln comes at a value of the national average of $271050 while a duplex has a value of $347000, a triplex $419425 and a four-unit $521250.
- A single-family unit in a high-cost city area like Seattle comes at $567500, while a duplex has a lending value of $726500, a triplex $878150 and a four-unit a value of $1,091,350.
Therefore, depending on the family size and your financial strength, you can select any of the above lending limits for FHA mortgage WA.
Qualifications for this Program
This is one of the easiest programs in the land that requires just a few requirements, mostly relating to income and credit. These include:
- Do you have a credit score of at least 620?
- Have you been working in the last two years with a stable income?
- Do you intend to live in the home as your primary residence?
If you have answered affirmatively to the above, then you have passed the pre-qualification stage for FHA mortgage Washington. The only other requirement you may need to pass is to have no other credit obligations apart from the current scheme.
How to Submit Your Application
- Send a request and pass the eligibility test.
- Find a lending institution with the most competitive interest rate for FHA mortgage WA.
- Obtain approval from the HUD.
- Settle any closing costs and start the homeownership process.
If you have found a nice abode in this northwest state, whether it is a planned development, a condo or mobile property, just start the application process for FHA mortgage Washington. We will provide all technical support including expert advice on the best amortization plan to choose including the 15-year or 30-year plans.
We welcome your call at any day of your convenience. [888] 202-4479