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    Welcome to Seattle Financing

    Whether you prefer to do business online or meet a live person, we will provide you a custom tailored loan to fit your exact needs.
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  • Purchase

    Purchasing a home is a very exciting time, and being well prepared will help you make better decisions. Take this opportunity to learn more about home buying and the mortgage process.
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    Changing the terms of your loan can benefit you and maximize your monthly income.
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    If you would like to know the rate for which you qualify, Apply Online, and we will give you an accurate assessment of what you qualify for.

FHA Loan

An FHA (Federal Housing Administration) loan is a loan insured against default by the FHA. In other words, the FHA guarantees that a lender won’t have to write off a loan if the borrower defaults – the FHA will pay. Because of this guarantee, lenders are willing to make large mortgage loans.

FHA loans are not for everybody. Nevertheless, they are a great help to some borrowers. FHA loans allow people to buy a home with a down payment as small as 3.5%. Other loans might not allow such a low down payment.

FHA loans offer a few other bells and whistles:
3.5% downpayment required on purchase
Easier to use gifts for down payment and closing costs
No prepayment penalty (a big plus for subprime borrowers)
An FHA loan may be assumable
Funding for home improvement (through FHA 203k programs)

Who can get FHA Loan?
Almost anybody can get an FHA loan. There are no income limits – like you may find with first time home buyer programs. However, there are limits on how much you can borrow. In general, you're limited to relatively small mortgage loans relative to home prices in your area. To find the limits in your region, visit HUD's Website. To qualify for an FHA loan, you'll need to have reasonable debt to income ratios. In general, you have to be better than 29/41, but some programs allow up to 55%. In addition, you have to have decent credit. You don't need wonderful credit to get an FHA loan; it just needs to be decent.
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What Clients Say

"I just wanted to thank you for constantly following up with me. Thanks for staying on top of everything and keeping things moving forward."



What is Needed to Pre-Qualify
Three years personal income tax returns
Three years business tax returns
Year-to-date income report
Current Balance Sheet