The Best Mortgage Lenders in Tensed, ID
Compare verified mortgage lenders serving Tensed, Idaho. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Tensed
Featured Mortgage Lenders
Mountain West Bank
Mountain West Bank
Mountain West Bank is a highly-rated regional financial institution with strong presence throughout northern Idaho, including service to Tensed residents. As a division of Glacier Bancorp with over two decades of experience, they offer personalized mortgage services with local decision-making. Their mortgage specialists are known for providing competitive rates and exceptional customer service, particularly for rural properties common in the Tensed area. They have extensive experience with USDA rural development loans which are highly relevant for Tensed homebuyers.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation - Coeur d'Alene Branch
Fairway Independent Mortgage has an excellent reputation throughout northern Idaho with their Coeur d'Alene branch serving the Tensed community. They consistently receive top ratings for their responsive service and competitive loan options. The local team specializes in helping buyers in rural communities like Tensed navigate USDA and FHA loan programs. Their streamlined process and dedication to customer satisfaction have earned them numerous industry awards and thousands of positive reviews nationwide.
Loan Types:
Guild Mortgage
Guild Mortgage Company - Post Falls Branch
Guild Mortgage's Post Falls location provides excellent mortgage services to Tensed and surrounding communities. With over 60 years in the mortgage industry, they offer tremendous stability and expertise. Their local loan officers have deep knowledge of the North Idaho market and specialize in helping buyers in rural areas. Guild is particularly noted for their exceptional customer service and flexible loan programs, including specialized options for first-time homebuyers and those with unique financial situations.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Tensed, ID
What are the current mortgage rates like in Tensed, ID compared to the rest of the state?
Mortgage rates in Tensed are generally consistent with statewide Idaho averages, but local lenders may offer competitive rates due to the rural nature of the area. Currently, rates for a 30-year fixed mortgage typically range between 6.5% and 7.25%, though this can vary based on credit score and loan type. Working with a local lender familiar with Benewah County can sometimes yield better terms.
Are there any special loan programs for first-time homebuyers in Tensed?
Yes, the Idaho Housing and Finance Association offers several first-time homebuyer programs that are available in Tensed, including down payment assistance and competitive rate mortgages. Additionally, some local lenders may offer special programs for buyers in rural areas like Tensed. These programs can be particularly helpful given the area's moderate income levels.
How does Tensed's rural location affect the mortgage approval process?
Tensed's rural classification can impact lending through USDA Rural Development loans, which are widely available here and offer 100% financing with no down payment. However, some conventional lenders may have stricter requirements for rural properties, particularly regarding well and septic systems. Appraisals might also take longer due to fewer comparable sales in the area.
What should I know about property taxes when getting a mortgage in Tensed?
Benewah County property taxes are relatively low compared to urban areas in Idaho, typically around 0.7% to 1.0% of assessed value. Your mortgage lender will factor these taxes into your monthly payment through an escrow account. It's important to note that property assessments in Tensed may be less frequent than in larger cities, which can affect tax calculations.
Are there any local considerations for manufactured home financing in Tensed?
Yes, manufactured homes are common in Tensed, and financing options include FHA, VA, and USDA loans specifically for manufactured housing. Local lenders are often more familiar with the unique requirements, such as permanent foundations and land ownership. However, interest rates for manufactured homes may be slightly higher than for site-built homes in the area.
Why Choose a Mortgage Lender in Tensed?
Local Market Knowledge
Lenders who understand Tensed's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Idaho.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Tensed and get competitive rates on your home loan.