The Best Mortgage Lenders in Washington, IN
Compare verified mortgage lenders serving Washington, Indiana. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Washington
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly-rated national lender with a strong local presence in Southern Indiana, including service to Washington. Known for its competitive rates and efficient loan processing, the company emphasizes customer satisfaction with a focus on first-time homebuyers and various loan programs. Their Evansville office provides personalized service and quick turnaround times, backed by numerous positive reviews for transparency and support.
Loan Types:
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated mortgage lender with a robust regional office in Indianapolis that serves Washington and surrounding areas. They offer a wide range of loan options and are praised for their digital tools that simplify the application process. With high customer satisfaction scores, competitive rates, and a reputation for reliability, they have built trust through years of experience and extensive positive feedback from Indiana homeowners.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a well-established lender with a strong track record in Indiana, offering comprehensive mortgage solutions to clients in Washington. They are recognized for exceptional customer service, local expertise, and a variety of loan products tailored to different needs. Their team provides personalized guidance, and they have consistently high ratings for their commitment to making home financing accessible and straightforward.
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Frequently Asked Questions
Common questions about mortgage lending in Washington, IN
What are the current mortgage rates like for homes in Washington, IN?
Mortgage rates in Washington, IN, typically align with national averages but can be slightly lower due to the area's lower cost of living and competitive local lending environment. As of recent trends, 30-year fixed rates often range in the mid-6% to low-7% area, but it's best to check with local lenders like First Federal Savings Bank or German American Bank for the most current offers. Your specific rate will depend on your credit score, loan type, and down payment.
Are there any first-time homebuyer programs specific to Washington, IN?
Yes, first-time homebuyers in Washington can utilize Indiana's statewide programs, such as the Indiana Housing and Community Development Authority's (IHCDA) Next Home program, which offers down payment assistance and competitive interest rates. While Washington doesn't have a city-specific program, local lenders are well-versed in these state resources and can guide you through the application process. These programs are especially helpful given Washington's affordable housing market compared to larger Indiana cities.
How does Washington's property tax rate affect my mortgage payments?
Daviess County, where Washington is located, has property tax rates that are generally moderate for Indiana, currently around 0.75% to 0.85% of assessed value. This means for a $150,000 home, you might pay $1,125-$1,275 annually in property taxes, which will be included in your monthly mortgage escrow payment. It's important to factor this into your budget when determining how much house you can afford in the Washington area.
What types of mortgages are most common for Washington, IN's housing market?
Given Washington's relatively affordable housing prices (median home value around $130,000-$150,000), conventional loans and FHA loans are particularly popular. USDA loans are also commonly used in Daviess County since much of the area qualifies as rural, offering 100% financing options. Local lenders often recommend conventional loans for borrowers with stronger credit, while FHA loans work well for those with smaller down payments.
How long does the mortgage approval process typically take in Washington, IN?
The mortgage timeline in Washington typically runs 30-45 days from application to closing, which is fairly standard. Working with local lenders who understand the Daviess County market can sometimes streamline the process, as they're familiar with area appraisers and title companies. The timeline can be affected by factors like the season (spring and summer tend to be busier) and the complexity of your financial situation.
Why Choose a Mortgage Lender in Washington?
Local Market Knowledge
Lenders who understand Washington'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 Indiana.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Washington and get competitive rates on your home loan.