Mortgages should be flexible.
Our low-risk mortgages come with fixed rates or protection against payment increases.*

Home Mortgage Loans

WaFd Bank has been a recommended mortgage lender for over a century, helping generations of families to own their own homes. Whether you’re purchasing or refinancing, our local loan officers are ready to assist. You can apply online, securely upload documents and receive status updates via our online portal. Clients who also bank with us receive discounts on closing costs when mortgage payments are pulled from a WaFd Bank checking account. And, if interest rates go down in the future, WaFd offers low-cost modification and refinancing options to our existing mortgage clients.

  • Stuck trying to sell your home before you can buy a new one? Our cross-collateral program can bridge the gap and eliminate the need to make an offer on a new home contingent on selling your existing one.
  • Ask us about special programs, including asset-based loans, lower down payment options, custom construction and loans for manufactured homes, large acreage and unusual properties.

Home Loan Calculator

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See today's rates

$7,650Your Estimated Monthly Payment
  • $1,181
    Principal & Interest
  • $2,689
    Taxes
  • $3,780
    Insurance
  • Payments quoted may include estimates of taxes & insurance, so actual payments may be higher.
  • Subject to credit approval.
  • APR (Annual Percentage Rate) is based on loan amount and interest rate.
  • 0.768333% tax rate used in estimate.
  • Rates for owner occupied homes only.
  • This calculator is for educational purposes only, and may not represent WaFd Bank’s lending program requirements.
  • Ask us about additional available loan programs.
  • Payments quoted may include estimates of taxes & insurance, so actual payments may be higher.
  • Subject to credit approval.
  • APR (Annual Percentage Rate) is based on loan amount and interest rate.
  • 0.77% tax rate used in estimate.
  • Rates for owner occupied homes only.
  • This calculator is for educational purposes only, and may not represent WaFd Bank’s lending program requirements.
  • Ask us about additional available loan programs.

The Advantage of a Portfolio Lender

Benefits of working with WaFd Bank
We keep your loan and don't sell it to Wall Street or Fannie Mae.
Our loan officers are standing by to help you with every step.
We are not paid on commission, so your needs come first.

Your neighborhood loan officer can help you get started

Save Up to $600 on Closing Costs With a Checking Account From WaFd Bank**

The Mortgage Roadmap


Meet with a Loan Officer
Apply to reduce your monthly payments or get cash out from your lender.

Fill out purchase agreement
When you and the seller have reached agreement on the purchase price, you and your loan officer will work together to finish processing your application and complete the financing of your new home.

Underwriting
Your loan officer will submit your final documentation to the underwriter for final approval.

Closing
Complete the final walkthrough of your new home and receive the final approval for the financing of your new home.

Frequently Asked Questions

When it's time to get a loan, what counts?

Here are the factors that count the most.

Income: Generally, lenders look for two years of stable income based off of your gross monthly income (pay before taxes).

Debts: Installment debt (car payments, credit card payments, personal lines of credit, etc.) are added together with your proposed mortgage payment to determine your ability to qualify for the loan.

Employment History: “Stability” is the key word here. In this case, they want to make sure you’re able to make your loan payment every month for years to come.

Credit History: Numerous late payments on debt, or a credit report that indicates a lack of ability to use credit wisely are red flags for a lender.

Property: In this case, the lender wants to make sure that the value of the property would more than cover the loan amount if it had to be sold following foreclosure. Note that the appraised value and the purchase price may not always match.

What do you need when applying for a home loan?

To apply for a home loan, you'll likely need:

  • Paycheck stubs
  • W-2s
  • Copy of the purchase and sale agreement
  • Proof of other income
  • Outstanding loans
  • Rental or landlord information
  • Employer's name and address
  • Past bank and brokerage statements
  • Your past home address
How much should you put down on a house?

Putting 20% down is often ideal for more financially established buyers or those with a larger cash or savings reserve.

Benefits of a larger down payment includes:

  • A smaller monthly mortgage payment
  • More equity in case you need to move and sell
  • No private mortgage insurance
  • Less risk when selling

For those who would like to put less than 20%, many lenders offer loans that require a smaller down payment. Here are some benefits to putting less than 20% down:

  • More cash on reserve for emergencies
  • Likely to become a homeowner faster, since you won't have to save as much cash
  • Greater financial cushion for your lifestyle

Want more help? Come See Us

If you've done all your research but aren't sure whether a residential mortgage makes sense, just stop by. We’re nearby, and we’ll sit down with you and answer any questions you may have.

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* Property taxes and/or insurance may increase.

** To qualify for the maximum $600 discount, before closing documents are prepared you must (1) have or open the WaFd checking account, (2) register for EZ-Pay from the new checking account, and (3) sign up for direct deposit of at least one form of a monthly recurring source of income.