SEATTLE HOME LOANS · PURCHASE · REFINANCE
Looking for a Seattle mortgage broker who will explain the numbers? Enrique Pelayo Jr, AMP, helps you compare financing through Mortgage Lending Group LLC, serving Seattle from Edmonds. Mortgage experience since 2005, with guidance in English and Spanish.
Bring the home you are considering, your comfortable payment and your questions. We can help you weigh loan costs, down-payment choices and the money you want to keep after closing.
Enrique NMLS #131435 · Company NMLS #1157983 · WA CL-1157983
Updated 2026-09-26 · Service-area guidance; no Seattle branch is implied.
Ready for personal financing help? Work with Enrique: Seattle mortgage broker services and Loan Estimate comparisons.
MORE THAN TWO DECADES OF EXPERIENCE
Enrique Pelayo Jr, AMPFounder of Mortgage Lending Group LLC. Personal guidance for home purchases, refinancing and equity decisions, in English and Spanish. Serving Seattle and nearby communities from Edmonds.
NMLS #131435 · Mortgage Lending Group LLC · CL-1157983
AMP stands for Accredited Mortgage Professional. The Mortgage Bankers Association awards this designation to graduates of its three-course School of Mortgage Banking. It represents additional professional education in the mortgage business.
That education complements Enrique’s hands-on experience explaining costs, choices and the mortgage process. The designation is separate from a state license and does not guarantee approval or a particular rate.
View Enrique’s AMP credential ↗ · MBA program requirements ↗A broker helps compare options from participating lenders and coordinates the application with the selected lender. That can be useful when you want to understand different down payments, fees or underwriting approaches. It does not mean every lender is available or that a broker is automatically cheaper than a bank or credit union.
Ask Enrique which options fit your property and documented circumstances, what alternatives were considered and how compensation is paid. Keep your personal budget central: a maximum approval amount does not include every household expense or future priority. For a condo, review association charges and potential assessments alongside the loan payment.
Seattle mortgage brokers and direct lenders can both provide useful service. Choose the written offer and process that fit your file. A competing offer helps you test that choice. Read our broker-versus-lender guide for compensation questions and comparison examples.
Send each provider the same loan scenario and request estimates close together in time. The property type, occupancy, credit assumptions, loan amount and lock period should match. Separate the price of financing from estimates for taxes, insurance and settlement items.
| Compare | Ask each provider |
|---|---|
| Rate and APR | What assumptions, date and lock period are used? |
| Points, fees and credits | What do I pay upfront, and what changes with a zero-point option? |
| Total monthly payment | What is included, and what must I budget separately? |
| Cash after closing | How much will I retain after the down payment and all costs? |
| Timeline | What is still unverified, and who handles each remaining condition? |
A lower payment may result from a longer term or smaller insurance estimate rather than a lower financing cost. Ask for the remaining balance and total costs at the time you realistically expect to sell or refinance.
FHFA lists the 2026 one-unit conforming loan limit in King County at $1,063,750. The national baseline for most counties is $832,750. A qualifying King County loan above that baseline and within the county limit may use high-balance conforming financing. A loan above the county limit requires a different financing option, commonly a jumbo program.
Compare the mortgage amount with the limit, not the home price. An illustrative $1.2 million purchase with 20% down leaves a $960,000 base loan. At the same price with 10% down, the base loan is $1.08 million, above the one-unit limit. That difference makes it useful to request both written financing scenarios; it does not establish which is affordable or cheaper.
Ask how the options differ in rate, points, reserves, mortgage insurance and cash left after closing. Do not empty an emergency fund simply to cross a loan-size threshold. A jumbo loan is not always more expensive, and a conforming limit is not an approval. The applicable year, unit count and program still matter.
For a condo, the building review is another question alongside borrower qualification. Request the association budget, reserve study and assessment information early. See our 2026 county-limit guide and the official FHFA county list.
Use three fictional purchase budgets to explore the math. They are not neighborhood median prices, listings or loan offers. A $650,000 condo example, $950,000 home example and $1.3 million larger-loan example give you different down-payment and loan-size starting points.
For a Capitol Hill or Ballard condo search, bring actual association dues and building documents. For a West Seattle or Greenwood house, add property-specific insurance, taxes and maintenance. Queen Anne, Wallingford and every other neighborhood have varied properties; a neighborhood name alone cannot determine the budget or loan eligibility.
$3,287 principal & interest · $520,000 starting loan
This example is within the 2026 King County one-unit conforming limit. Eligibility still requires review.
Fictional purchase budgets, not neighborhood prices or available offers. The 6.5% rate is an editable illustration, not APR. Costs start at $0: enter applicable taxes, insurance, mortgage insurance and HOA dues for a fuller estimate. Closing costs and maintenance are excluded. Presets change only price and down payment; other entries stay in place. No information is submitted.
For closing cash as well as monthly payments, use the cash-to-close planner. Keep a reserve separate from both.
Start by separating state programs from City of Seattle assistance. WSHFC’s Home Advantage can serve eligible repeat buyers as well as first-time buyers. Its current overview lists a $215,000 statewide income limit, approved education and a mortgage through a Commission-trained loan officer. The Home Advantage guide explains assistance repayment and the questions to ask a participating provider.
Seattle’s Office of Housing describes assistance through nonprofit and lending partners for income-eligible buyers. Its general guidance includes income based on household size, Seattle city limits, principal residence, education and counseling. Partner programs can have different funding and property rules. Confirm current eligibility with the listed organization before building assistance into an offer.
The city lists paths through organizations such as HomeSight and Homestead Community Land Trust. Purchase assistance and a home with long-term affordability restrictions are different arrangements. Ask about repayment, resale limits and how much equity you can retain on sale. The city also says its Seattle assistance program is no longer available through WSHFC; that should not be confused with statewide Home Advantage.
MLG’s participation in a specific assistance program has not been verified here. Enrique can help organize your budget and comparison questions; use the official provider resources when a participating originator is required. Start with our Washington first-time buyer roadmap. See Seattle Office of Housing: Buy A Home, WSHFC’s program and lender information, and our Washington assistance guide.
USE THE ACTUAL ADDRESS
Save the property address and work through these questions with your agent, lender and the appropriate city or county office. A neighborhood average cannot tell you what this particular home will cost or whether its financing will work.
Look up the parcel and compare the listing’s size, use and tax history with the county record. Search Seattle’s permit and property records for work you want clarified. Ask your inspector and agent which findings need follow-up.
King County Parcel Viewer ↗Seattle permit and property records ↗Ask for the property’s current tax information and an insurance quote. Estimate your payment with dues, utilities and a maintenance reserve. Taxes and insurance can change after purchase; leave room for that uncertainty.
King County property information ↗Plan cash to close →For a condo, request the association budget, dues, reserve study, insurance and any known or proposed special assessments. Ask your lender which project documents are needed and when they can review them.
Ask Enrique about condo financing →Check city limits, household and property rules with the actual assistance provider. With your agent and lender, map financing, inspection and appraisal deadlines; ask what is still unverified before offering a closing date.
Seattle homeownership resources ↗Compare statewide assistance →Public records are a starting point. Confirm details with the appropriate office and qualified professionals; a mortgage review does not replace inspection, title or legal advice.
Compare keeping the current loan with the proposed refinance using the same holding period. Include new charges, financed costs, remaining balances and the payoff date. The refinance break-even calculator shows when modeled payment savings recover upfront costs while keeping the remaining term unchanged.
If you need cash, compare a HELOC or separate equity loan with replacing the first mortgage. A lower payment may reflect a longer repayment period, and a variable-rate line can rise. Read HELOC versus cash-out refinancing and test the HELOC payment calculator. For a condo, ask whether the project or an assessment affects your options.
Use the Seattle and Washington mortgage rates page for the existing Loansifter pricing search. Enter your property and loan details, then confirm the quote date, rate, APR, points, fees and lock assumptions with your loan officer. There is no single Seattle rate that applies to every borrower.
We do not label an undated example as today’s available offer. A search is not a rate lock. Bring a written Loan Estimate for comparison if you are already shopping.
Ask what income and asset documentation has been reviewed, what underwriting conditions remain, and whether appraisal, title, insurance and any condo review can meet your target. A broker coordinates the process; the lender controls the credit decision. Ask what a lock extension would cost if the schedule changes.
For most covered mortgages, the Closing Disclosure must be received at least three business days before closing. Confirm the applicable calendar with your lender and settlement team. Use our Closing Disclosure review guide and the CFPB’s closing-document guidance to prepare questions before signing.
We help buyers and homeowners compare mortgage questions for properties in Ballard, Capitol Hill, West Seattle, Queen Anne, Greenwood, Beacon Hill, Wallingford and other Seattle neighborhoods. Confirm costs and property requirements for the actual address. These are service areas, not separate branch offices or promises about local property values.
Compare the options, service and total price you receive. Ask which lenders the broker can consider, how compensation is paid and what work is included. Then compare a bank or credit union offer on the same assumptions. A broker can help explain alternatives, but access to several lenders does not guarantee the cheapest loan.
Neither is always cheaper. Request written estimates close together in time for the same loan amount, property, term and lock period. Compare interest rate, APR, points, lender fees, credits and mortgage insurance. Keep tax and insurance estimates consistent so those assumptions do not distort the financing comparison.
A broker may not have access to every lender or product. Ask which options were considered, who handles underwriting questions, how compensation works and what happens if the chosen lender cannot meet the deadline. Consider an independent competing offer and choose the costs, program and service that fit your transaction.
The loan amount alone does not determine compensation. An illustrative 1% agreement would equal $5,000, but that is not a typical fee, legal limit or MLG quote. Ask for the actual amount, payer and disclosures in writing. Brokerage compensation is also different from an individual loan officer’s take-home pay.
Mortgage Lending Group’s guidance is based in Edmonds and serves Seattle buyers and homeowners. This page describes a service area, not a Seattle branch office. Book a conversation with Enrique to discuss your property and confirm meeting arrangements. Guidance is available in English and Spanish.
Yes. Ask which lenders and programs fit your actual loan amount and documentation, and compare any available jumbo proposal with a conforming alternative. Credit, income, reserves, property and lender requirements still apply. A larger down payment can change the available options, but do not assume either loan category always has a lower total cost.
CLIENT EXPERIENCES · ENRIQUE PELAYO JR
“respectful, knowledgeable and highly effective”
Selected excerpts about Enrique’s work, checked September 26, 2026. Experiences reflect their original dates and may predate the current company affiliation. Individual results vary.
Mortgage guidance contact: Enrique Pelayo Jr, AMP · NMLS #131435
Mortgage Lending Group LLC · NMLS #1157983 · WA CL-1157983
English & Spanish · Mortgage experience since 2005
Verify NMLS information ↗ · Content standards · Seattle photo: Josh Hild / Unsplash
Prepared with AI assistance. Educational planning, not a loan quote, commitment or approval. Confirm current lender and program requirements for your application.