Learn More About VA & FHA Loans in Marysville, WA

People who don’t qualify for Conventional loans have a good chance at an FHA loan. They can be used to purchase or refinance a home. Although these loans are backed by the Federal Housing Administration (FHA), they are made by private financial institutions.

What are the advantages?

• Lower down-payment (3.5%)
• People not living in the home can co-borrow with you
• Family can gift you the down payment, closing costs and other expenses

Who is eligible?

Most Americans are eligible for an FHA loan. In general, you can qualify if you:

• Have a Social Security number,
• And meet standard income, credit & employment requirements,
• Use the new home as your primary residence,
• Low to moderate income families,
• Flexiable credit underwriting,
• High balance up to $567,500.

You don’t need to be a U.S. citizen, however, you must meet FHA additional requirements to be eligible.

How much can my loan be?

FHA loans have a statutory limitation on their amount depending on the county of residence. So the amount you qualify for depends on your income, financial situation, credit history and location of the property. Our mortgage advisors can provide an estimate with no obligation.

Created under the GI Bill in 1944, the VA loan program guarantees veterans a mortgage with no down payment. Although these loans are made by private financial institutions, the Veterans Administration backs the loan.

What are the advantages?

• No down payment required
• Competitive interest rates
• Reduced or competitive closing costs
• No mortgage insurance required

Who is eligible?

Most active-duty U.S. military veterans who weren’t discharged dishonorably are eligible. Many National Guard and Reserves veterans, as well as some surviving spouses, are also eligible. Please ask our mortgage advisors about minimum service requirements based on your situation. You can always consult our advisors with no obligation.

How much can my loan be?

Currently, the maximum loan amount is $417,000 ($458,850 in King and Snohomish Counties), which can include the funding fee (typically X% of loan amount). Your unique financial situation will also affect your loan amount, so please talk with our mortgage advisors for an estimate with no obligation.