Wave Lending Group

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Types of Loans

Conventional Mortgage
The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you want a low payment and the security of knowing your rate can never increase over its life span.  When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.

FHA Mortgage
This loan is also a 30 year fixed loan typically. It offers all the advantages of a 30-year fixed loan, and allows you to qualify for a little higher purchase price when compared to a conventional mortgage. Mortgage insurance is substantially higher on FHA loans when compared to conventional loans, and there is also a 1.75% funding fee.

VA Mortgage
In most cases, no down payment is required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans.  Being located near Joint Base Lewis McChord, we specialize in helping active duty and military veterans achieve their goal of homeownership.  The city of Dupont and also Lacey are frequently chosen communities to purchase within as they allow easy access to Fort Lewis.  Other benefits of a VA loan include:

  • No monthly private mortgage insurance
  • Right to prepay loan without penalties
  • The Mortgage can be taken over (or assumed) by a buyer.
  • Zero Down Payment Requirement

Although mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount.  Eligible veterans who receive 10% disability or greater are exempt from the VA funding fee. Wave Lending is a VA specialist, equipped with the latest technology and knowledge to make the lending process a smooth one.  If you want your business local, want to deal with experts, and want to be able to access your mortgage professional when needed, then you have found the right lender for you.  

USDA
Ready to get rural? Owning your own home outside of the big city limits may be easier than you thought with a USDA home loan.  The USDA Guaranteed Rural Housing* mortgage is available for salaried, non-salaried, and self-employed borrowers, and is not limited to first-time buyers, and also offers:

  • Zero down
  • 100% financing options
  • Flexible credit guidelines
  • Fixed 30-year financing at FHA interest rates
JB Associates, LLC DBA Wave Lending NMLS # 21751 NMLS #22002
8602 Canyon Road E, Puyallup, WA  98371
Direct:  (253) 539-1700
Fax:  (253) 539-1609
joel@wavelending.com
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