More about Federal Way
Mortgage Broker in Federal Way , WA
King COUNTY · WASHINGTON
For a Federal Way home you hope to expand, make the first mortgage affordable in the home’s current configuration.
Mortgage Lending Group LLC serves Federal Way from 123 2nd Ave S, Suite 230, Edmonds, WA 98020. Enrique Pelayo Jr, AMP · NMLS #131435 · English & Spanish.
Build my ownership budget ↓Meet your loan officer →Educational guidance · Updated 2026-09-28 · Our content standards
BEFORE YOU CHOOSE A LOAN
Price the home separately from its future use
For a Federal Way home you hope to expand, make the first mortgage affordable in the home’s current configuration. Obtain a realistic improvement budget before committing the cash you might need after closing. A refinance later will depend on future value, income, costs and eligibility rather than today’s intention to renovate.
Can I use a purchase loan and decide on renovation financing later?
You can explore that approach, but later financing is not guaranteed. Compare a purchase-only budget with an eligible renovation-loan scenario before choosing if the work is necessary for you to occupy the home.
A local source for your property research
Federal Way publishes zoning, street and annexation-history maps. These help a buyer locate the property and identify the questions to take to planning staff. A map category alone does not establish permission for a specific addition or change of use.
Federal Way official maps ↗Source checked 2026-09-28 · Source publication date not provided. This is planning guidance, not a new-policy announcement.
Compare mortgage rates and assistance in Federal Way
Use the same property details, down payment and lock period when comparing Seattle and Washington mortgage rates. Include taxes, insurance, mortgage insurance and any association dues in your budget.
Enrique offers eligible buyers up to 5% assistance: 3.5% toward the down payment plus up to 1.5% toward closing costs, using an FHA purchase loan and a separate assistance loan with its own monthly payment. This is not a grant. There is no program income cap; credit approval, property and lender requirements apply. Compare both payments, costs and repayment terms before deciding. Explore first-home assistance →
Which loan limit applies to this property?
For 2026, the one-unit conforming limit in King and Snohomish counties is $1,063,750. The limit applies to the loan amount, not the purchase price. Auburn properties in Pierce County have the same 2026 one-unit limit. Verify the parcel’s county and number of units before choosing a program.
For example, a $1,100,000 purchase with 10% down produces a $990,000 base loan. That is below the county limit, but it does not establish eligibility or make a conforming loan cheaper than every jumbo alternative. Compare actual written offers and the cash left after closing.
Loan limits, high-balance loans and jumbo comparisons · FHFA’s current official tables
2026 figures checked September 28, 2026. No 2027 limit is assumed.
MAKE IT YOURS
Does the monthly cost fit your life?
Put an actual Federal Way property alongside your comfort limit. Use a lender estimate for principal, interest and mortgage insurance; add the costs it may leave out.
Fill in all six amounts to see the comparison. Enter 0 only for costs that do not apply.
Planning only. This does not calculate a mortgage payment or determine approval. Estimates can change. These inputs stay in this page and are not submitted or saved.
ALREADY OWN IN FEDERAL WAY?
Your next move might be staying put.
If you already own in Federal Way, start with a specific goal and your current loan statement. Compare keeping the existing mortgage with a refinance or a separate equity loan. Include the fees and remaining balance at your expected move date, and investigate the property questions above before committing funds to improvements.
Calculate refinance break-even →Explore a sample homeowner report →The sample uses fictional numbers. A home-value estimate is not an appraisal, and equity is not automatically available to borrow.
Check the details at the source.
- Federal Way official maps ↗ — starting point for city services and property questions; a mailing address does not establish jurisdiction.
- CFPB: compare loan offers ↗ — compare the full terms and costs.
- Washington Commerce: homeownership resources ↗ — independent assistance and counseling resources.
These resources are independent of Mortgage Lending Group LLC. They do not endorse this guide. Availability, eligibility and property rules require current confirmation.
Explore more of Puget Sound.
Seattle mortgage broker: loan limits, buyer programs and payment planning →
Auburn →Bainbridge Island →Bellevue →Bothell →Bremerton →All Washington guides →This is a service-area guide, not a branch-office listing. Mortgage services are provided through Mortgage Lending Group LLC. Educational planning is not a rate quote, commitment, approval or individualized tax or legal advice. Rates, costs, eligibility and values vary. Professional background and licensing.