Olympia FHA Loans have become an easy choice for borrowers searching for flexible credit terms and aggressive interest rates.

Olympia’s stable real estate market provides for some of the ideal mortgage interest rates and loan programs in the state. The FHA Loan in particular offers a number of benefits over conventional financing for both homeowners and home buyers.

For home buyers, an Olympia FHA loan allows for 96.5% Loan to Value (LTV), meaning that you can purchase a home with as little as 3.5% money down. This makes getting into a home far easier under an FHA program than compared to the 10-25% down payment requirement under other loan programs. Olympia FHA programs also allow the down payment to come in the form of a “Gift”. Gift funds can be from a number of difference sources including family members and employers. Home buyers can also take advantage of the 203k FHA loan program which allows borrowers to finance rehab expenses into their new loan. That’s right; you can buy a fixer-upper house and finance the remodeling costs into your new loan at a great interest rate.

Current Olympia homeowners also have a lot to gain from using an FHA home loan. Under Olympia FHA Loan guidelines cash out refinances are allowed up to 85% LTV without an increase in interest rates. Standard non-cash out refinances are allowed to 96.5% LTV. This is advantageous to borrowers because conventional loans typically don’t go past 80% LTV without high interest rates. Additionally if you already have an FHA loan, you can apply for an FHA Streamline loan. With an FHA Streamline you can refinance you current FHA mortgage into a new low interest rate with minimal documentation and in many cases with an appraisal. This makes the process quick and very inexpensive.

The team at Northwest Mortgage Experts is a group of trusted industry professionals who are leaders in providing affordable FHA home loans in Olympia. Unlike other lenders we take the time to identify our clients’ financial objectives so that we can provide a customized list of loan solutions to meet your needs.

We are motivated by building relationships that last for life. If you have questions regarding Olympia FHA loans or any other program call us directly at 206 303 8526 or email us at Ray@mvpmortgageteam.com