What credit score do I need for jumbo loans in Tacoma, WA?
For jumbo loans in Tacoma, Pierce County, most lenders typically require a minimum credit score of 620 for conventional loans, 580 for FHA loans, and no minimum for VA loans. However, better rates are available with scores above 740. Our loan officers in Tacoma can help you find the best options for your credit profile.
How long does it take to close on jumbo loans in Tacoma?
In Tacoma, WA, the average closing time for jumbo loans is typically 25-35 days, depending on the loan type and property. We work with local lenders familiar with Pierce County to expedite the process and help you close faster.
What's the average down payment for jumbo loans in Tacoma?
With median home prices around $525,000 in Tacoma, a typical 20% down payment would be approximately $105,000. However, many jumbo loans options require as little as 3% down ($15,750), and VA/USDA loans may require 0% down.
What are current jumbo loans rates in Tacoma, WA?
Current jumbo loans rates in Tacoma are averaging around 7.05% APR, though your actual rate depends on credit score, down payment, and loan type. We work with multiple lenders in Pierce County to secure you the most competitive rates available.
Are there first-time home buyer programs in Tacoma, WA?
Yes! Tacoma and WA offer several programs for first-time buyers, including down payment assistance, lower interest rates, and tax credits. As a Tacoma resident, you may qualify for state and county-specific programs. Contact us to learn which programs you're eligible for.
What are property taxes like in Pierce County, WA?
Property tax rates in Pierce County vary by municipality, but we can help you estimate your monthly PITI payment (Principal, Interest, Taxes, Insurance) for any Tacoma property. Your jumbo loans payment will include these taxes in escrow for convenience.
Is now a good time to buy in Tacoma, WA?
The Tacoma market is currently growing. Current market conditions may present opportunities for buyers in Tacoma. Our local experts can help you navigate the Tacoma real estate market.
What documents do I need for jumbo loans in Tacoma?
For jumbo loans in Tacoma, you'll typically need: pay stubs (last 30 days), W-2s (last 2 years), bank statements (last 2 months), tax returns (if self-employed), and ID. Pierce County county may have specific requirements - we'll guide you through the entire documentation process.