Mortgage Loan Officer in Birch Bay, WA

Conventional loans are the most common type of mortgage — not backed by a government agency, with down payments starting at 3% for qualified buyers and typical credit scores of 620+. If you put down less than 20%, you'll pay private mortgage insurance (PMI), but it drops off once you reach 20% equity. Terms of 15, 20, or 30 years let you balance monthly payment against total interest. Often the least expensive option over time for buyers with solid credit.

FHA loans are insured by the Federal Housing Administration, which lets lenders accept smaller down payments (3.5% with a 580+ credit score) and more flexible credit histories than conventional loans. They include a mortgage insurance premium (MIP) paid upfront and annually. A strong fit if your credit is still building or your savings are modest — and refinancing into a conventional loan later can remove the mortgage insurance once you've built equity.

VA loans are a benefit earned through military service: $0 down payment, no private mortgage insurance, and competitive rates for eligible veterans, active-duty service members, and certain surviving spouses. Eligibility is confirmed with a Certificate of Eligibility (COE), which I can help you request. If you've served, this is almost always the first program worth checking.

USDA loans offer $0-down financing on homes in USDA-designated rural and suburban areas — and more of Whatcom and Skagit County qualifies than most people expect. Eligibility depends on both the property's location and household income limits that vary by county and household size. Send me an address and I can check whether it qualifies in a few minutes.

Refinancing replaces your current mortgage with a new one — to lower your rate or payment, shorten your term, or take cash out of your equity for renovations or debt consolidation. The key question is the break-even point: how long the monthly savings take to repay the closing costs. I'll run that math with you honestly, and if refinancing doesn't make sense yet, I'll tell you.

First-time buyers have more options than they usually realize: low down payment programs starting at 3%, $0-down VA and USDA options for eligible buyers, gift funds from family on many programs, and down payment assistance — including programs through the Washington State Housing Finance Commission. I walk first-time buyers through every step in plain English, from pre-approval to keys.