Home Mortgage Northwest, Inc

Home Mortgage Northwest Inc is dedicated to providing the best financing thru these changing times. While there have been many changes our bank programs have not been significantly affected.

Home Lending has returned to the programs of 20 years ago, largely because home prices escalated very fast over the last 5 years and much of this was not sustained price increases.

The Northwest has not been affected on a wide scale with only a few counties under additional lending restrictions. In North Idaho and Eastern Washington only Kootenia County is classified as a soft market by mortgage rating agencies and this is because prices have adjusted from the high values of mid 2006. This does not mean its not a good time to buy, as a buyer seeking to buy a home to occupy can still get very good rates and sales prices that are affordable. There is good affordable housing available especially in the local market, and this presents an opportunity to buyers with a small down or a gift who are looking to buy after prices have become much more affordable.

The key to successful home buying in this market is making a good offer, and getting a sound mortgage program from one of our qualifying banks.

While the current lending situation is very difficult for some homeowners, and buyers, there are still good loan programs for buyer with good credit and/ or considerable down payment.

There is a considerable amount of confusion in real estate circles and as the guidelines change it is important buyers and home owners are aware of industry changes when qualifying for the best programs.
 

What is Available:

Community Home Buyer Loans 3% Down Gift for Down Okay w/ 620+ Score

Conforming/ Conventional Purchase Loans with w/5%- Great Rates

Conforming Refinance Loans 580 to 680 Credit Scores to 80% Loan To Value

Conforming Refinance Loans from 680+ to 90% Cashout or Rate & Term

Conforming Refinance Loans from 580 + to 90% Rate Reduction Only

Conforming Stated Income to 75% 680+ Score.

Conventional Manufactured Home Loans Purchase / Refinance to 90%

Conventional Manufactured Home Loans Cashout to 65%

Non-Conforming 580+ Score using Bank Statements to Quailfy.

VA Loans 580+ Score

Equity Based Loans Programs 65 to 70% Loan to Value. Credit Not an Issue.

Basically if your looking for a loan with 20% equity or down payment, and you have good credit and can verify income things have not changed a whole lot. The programs that have been affected the most are Cash out programs over 80% and the 100% programs due to PMI restrictions. Additionally anyone with credit challenges are seeing significant restrictions based on current lending quidelines.

However, If your looking for the Standard Bank/Conforming program we provide excellent fixed and adjustable rate programs with very low rates and fees. If Your situation is unique we may have other option not listed here. Call us for an upto date rate quote.

We would like to thank our loyal customers who appreciate our outstanding local service and who continue to provide us many satisfied referrals. In the months to follow additional changes in lending are expected from the bank and lenders, who make the guidelines and we are working hard for you to stay up to date will all the program changes.

Our Applicants Get:

A Free 30 day Rate Lock

No Application Fees

No Junk Fees

No Processing fees

Great Rates

Excellent Service

Give us a call today, we offer the best of the conventional programs and will work for you to find the best lender and rates for your Home Buying or Refinancing needs.