Mortgages Bellevue WA

Mortgages in Bellevue, WA. Find addresses and phone numbers of local business and services that provide access to Mortgages in Bellevue, WA.

Gateway Bank Fsb
(425) 216-2979
2370 130Th Ave Ne Ste 100
Bellevue, WA
(425) 451-4592
15 Lake Bellevue Dr Ste 101
Bellevue, WA
N F Enterprises Inc
(425) 893-8090
875 140Th Ave Ne Ste 202
Bellevue, WA
Stay In Home Mortgage Inc
(425) 732-2560
1000 124Th Ave Ne Ste 200
Bellevue, WA
Washington Mutual Bank Fa
(425) 748-3600
3060 139Th Ave Se Ste 100
Bellevue, WA
Greenpoint Mortgage Funding Inc
(206) 450-6499
330 120Th Avenue Ne
Bellevue, WA
Choice Lending Inc
(425) 649-9100
11811 Ne 1St Street Ste A306
Bellevue, WA
Bell Home Loans Inc
(425) 450-9443
12360 Ne 8Th St Ste 200
Bellevue, WA
Home Capital Funding
(425) 454-8558
12729 Ne 20Th St Ste 23
Bellevue, WA
Cedar River Mortgage LLC
(425) 289-0080
1130 140Th Ave Ne Ste 100A
Bellevue, WA

How Much House Can You Afford?

Debt-to-Income Ratios

To determine your maximum mortgage amount, lenders use guidelines called debt-to-income ratios. This is simply the percentage of your monthly gross income (before taxes) that is used to pay your monthly debts. Because there are two calculations, there is a "front" ratio and a "back" ratio and they are generally written in the following format: 33/38.

The front ratio is the percentage of your monthly gross income (before taxes) that is used to pay your housing costs, including principal, interest, taxes, insurance, mortgage insurance (when applicable) and homeowners association fees (when applicable). The back ratio is the same thing, only it also includes your monthly consumer debt. Consumer debt can be car payments, credit card debt, installment loans, and similar related expenses. Auto or life insurance is not considered a debt.

A common guideline for debt-to-income ratios is 33/38. A borrower's housing costs consume thirty-three percent of their monthly income. Add their monthly consumer debt to the housing costs, and it should take no more than thirty-eight percent of their monthly income to meet those obligations.

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Your Down Payment Affects Everything

Your First Step Toward Buying a Home

When preparing to buy a home, the first thing many homebuyers do is look at "homes for sale" ads in newspapers, magazines and listings on the internet. Some potential buyers read "how-to" articles like this one. The next thing you should do โ€“ before you call on an ad, before you talk to a Realtor, before you shop for interest rates โ€“ is look at your savings.


Because determining how much money you have available for down payment and closing costs affects almost every aspect of buying a home โ€“ including how you write your purchase offer, the loan programs you qualify for, and shopping for interest rates.

Mortgage Programs

If you only have enough available for a minimum down payment, your choices of loan program will be limited to only a few types of mortgages. If someone is giving you a gift for all or part of the down payment, your options are also limited. If you have enough for the down payment, but need the lender or seller to cover all or part of your closing costs, this further limits your options. If you borrow all or a portion of the down payment from your 401K or retirement plan, different loan programs have different rules on how you qualify.

Of course, if you have enough for a large down payment, then you have lots of choices.

Your loan choices include such varied programs as conventional fixed rate loans, adjustable rate mortgages, buydowns, VA, FHA, graduated payment mortgages and all the varieties of each.

Shopping Rates

A very important reason you need to have at least some idea of your down payment is for shopping interest rates. Some loan programs charge a slightly higher interest rate for minimal down payments. Plus, the interest rates for different loan programs are not the same. For example, conventional, VA, and FHA all offer fixed rate loans. However, the rates vary from one program to another.

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