Buy a Home

Whether this is your first home purchase or you’re an experienced home buyer, we have the knowledge, experience, and tools to help get the best loan for you at the lowest possible rate. We are committed to making the home buying process as easy as possible by:

 

  • Offering a free, no-pressure consultation
  • Educating you about all of your options in terms you can understand
  • Walking you through the entire loan process – from start to finish
  • Communicating with you clearly, regularly, and honestly

Whether you’re ready to make an offer on the home of your dreams or haven’t even attended your first showing, TILA Mortgage can help with a mortgage pre-approval. With our pre-approval in your hands, you’ll be able to close faster and have more negotiating power with the seller.

 

Rates are still competitive, and we’re ready to serve you no matter where you are in the home buying process. Call (206) 766-8888 now for a free consultation or get a free rate quote.

 

We have locations throughout the Puget Sound and serve all of Washington state. And if you’re purchasing a home in Oregon, we can even help with that, too!

LOAN OPTIONS

Fixed Rate Mortgage

 

With this type of mortgage, the payment stays fixed over the life of the loan. Even if market rates change drastically, payments remain the same from month to month.

Adjustable Rate Mortgage

 

This type of mortgage loan is characterized by interest rates that adjust or fluctuate in with the market. They typically offer an introductory/lower interest rate which is set for an initial period of time. After that, the interest rate may rise or fall, as will the monthly payments.

FHA Insured Loan

 

These loans are insured by the Federal Housing Administration and originated by certain FHA-approved lenders. They require a low 3.5% down payment and allow the buyer to finance most of the closing costs. These loans are designed to assist borrowers who need help getting loan approval because of lower credit scores or limited down payments.

Jumbo Loan

 

This type of loan is used to purchase higher prices homes. Fannie Mae and Freddie Mac set loan limits for mortgages that are considered “conventional;” loans that are taken out in excess of these limits are considered Jumbo Loans.

Real Estate Investor Loan

 

This type of loan is used to purchase property for investment purposes as opposed to one’s private residence. Often the property will be used for rental purposes, such as a rental home, apartment building, or other space that gives the owners an opportunity to create profit and income over the long term.

VA Loan

 

These loans are available to active duty or military veterans and are insured by the U.S. Department of Veterans Affairs. They require no down payment and can be used for either a home purchase or a refinance.

Home Improvement Loan

 

The FHA 203k loan program provides home buyers the opportunity to buy and fix up a property without exhausting their personal savings. Home buyers can purchase a property and also finance the repair or remodel costs up to $35,000 in one simple fixed-rate loan.

USDA Home Loan

 

This Guaranteed Rural Housing Loan Program is offered through the U.S. Department of Agriculture. The program offers assistance to low and moderate-income rural residents whose income is equal to or less than 115% of the area median income. It allows 100% financing with a 30-year fixed-rate mortgage in specifically designated areas deemed “rural” by the USDA.

Applying for a Home Loan

 

Applying for a home loan is easy with TILA. We walk you through the entire process of getting a home loan, making sure you understand and feel comfortable with every last detail. We listen to you so we can understand your goals and recommend the best product for you and your family.

 

Key Areas We Review:

  • Employment history and income
  • Credit report and score
  • Monthly debt payments
  • Cash for down payment
Details

 

The first step of the process is to submit an application. This will include questions about your past and current employment, rental information (if applicable), and any recurring debt payments you may have like car loans, student loans, credit cards, and furniture payments.

 

We will also order a credit report, which will give us an idea of your history of paying bills on time. This information helps us to determine whether you can pay back the loan, and what type of mortgage you may qualify for. At TILA Mortgage, our customers know very early in the home loan process which product best fits their situation, along with the fees and other costs that may be involved.

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