Local Mortgage Company
At DC Lending LLC, we are a family-owned mortgage company based in Ridgefield. We utilize all of the same technology that large mortgage corporations use, providing you with a local and reliable option. The fact that we are a family-owned business benefits our customers by saving them money. At DC Lending LLC, we will likely have better pricing than the majority of the competitors. Our rates are extremely competitive, and we are confident that you will be happy with our results. Our team of loan officers in Ridgefield, WA, can assist you in acquiring any of the following loans.
- Nationwide High Balance
- Jumbo Loans
- Reverse Mortgages
Conventional loans are loans that are not guaranteed or backed by the government. These loans come from private lenders, and the borrower typically insures them through Private Mortgage Insurance. Conventional loans are the most popular type of mortgage throughout the U.S, which is understandable given its diversity and accessibility. Conventional loans have a relatively fast processing time, a variety of down payment options, various term lengths available, and possible reduction of your PMI (Private Mortgage Insurance). All of these are reasons why many people choose to get a conventional loan. At DC Lending LLC in Ridgefield, our loan officers are happy to assist you in finding the perfect loan option. We help in explaining all the details and benefits each loan has to offer.
This type of mortgage is very complex and shouldn’t be decided on lightly. Our team of loan officers at DC Lending LLC is very educated and experienced in working with reverse mortgages. If you are considering getting a reverse mortgage, come and meet with one of our loan officers and let us help you make the right decisions.
A reverse mortgage is only for homeowners who are 62 years or older and have a reasonable amount of home equity. These mortgages can be beneficial for senior citizens because it provides them with an income for their expenses. The basic principle of a reverse mortgage is that a homeowner borrows money against their home’s equity.
At DC Lending LLC in Ridgefield, we are proud to help Veterans get affordable home loans and are grateful for their service and sacrifice. VA loans are available to veterans, service members, and select spouses of military members. These loans were created in 1944 to help returning veterans afford homes when they didn’t have adequate credit or down payments. VA loans allow veterans to return home and still be capable of buying a house.
USDA loans are guaranteed and issued by the United States Department of Agriculture. They offer a 0% down payment for rural homeowners. There are three different loan programs available by the USDA; direct loans, loan guarantees, and home improvement loans. The loan officers at DC Lending LLC in Ridgefield would be happy to sit and discuss with you the different loan options. We can help explain which type of loan would be best suited for you and your unique situation.
At DC Lending LLC, our team of loan officers has years of experience working with FHA loans. We are always happy to help first-time homebuyers get the loan they need. FHA loans are the most popular type of loan among first-time homebuyers because of the lower required credit score and down payments. The U.S government backs these loans, and the Federal Housing Administration(FHA) insures them.
All FHA loans are fixed-rate mortgages with either 15 or 30-year terms because the down payments and credit scores required are much lower than other loan options. There are two required mortgage insurance premiums associated with all FHA loans. The first is the upfront mortgage insurance premium; this is about 1.75% of the total loan amount and is rolled into the loan. The second is an annual mortgage insurance premium. Monthly mortgage insurance premiums will continue until the house is sold or re-financed out of the FHA loan.
These types of loans do not fall under the guidelines and limitations set by Fannie Mae, and therefore can not be considered conforming loans. Reasons for this include insufficient credit, exceeding the loan-limit when purchasing higher-end real estate, or other requirements that are not met to qualify for a conforming loan. For this reason, these types of loans usually come with a higher interest rate to compensate for the risk to the lender.
Fewer Stress Mortgages
Our process is quick and effective because we want this to be as smooth and stress-free for you as possible. Our application only takes about 10 minutes; you can do it online, over the phone or in-person with one of our loan officers. Once you become pre-approved, you will meet with one of our recommended realtor partners who will assist you in finding your dream home. After your offer is accepted, our processing team will help you finish everything up, with an average close of 21 days. Give us a call or stop in today and see why DC Lending LLC is the better choice for loans and mortgages.