The Best Mortgage Lenders in Beverly, WA
Compare verified mortgage lenders serving Beverly, Washington. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Beverly
Featured Mortgage Lenders
Guild Mortgage Company
Guild Mortgage Company - Kennewick
Guild Mortgage has been serving Eastern Washington communities for decades with a strong local presence in the Tri-Cities area. Their Kennewick branch serves Beverly and surrounding rural communities with specialized expertise in agricultural and rural property financing. They consistently receive high marks for personalized service, competitive rates, and expertise with USDA loans which are particularly relevant for the Beverly area. Their loan officers have deep knowledge of local property values and market conditions.
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Umpqua Bank
Umpqua Bank - Tri-Cities
Umpqua Bank has a strong regional presence throughout Washington and Oregon with multiple branches serving the Tri-Cities area that extend service to Beverly residents. They offer comprehensive mortgage solutions with particular strength in construction and land loans, which is valuable for the rural Beverly market. Their local loan officers understand the unique aspects of financing in smaller Eastern Washington communities and provide personalized service with the backing of a substantial regional financial institution.
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Banner Bank
Banner Bank - Kennewick
Banner Bank has deep roots in Washington state with over 130 years of service and maintains a strong presence in Eastern Washington. Their Kennewick location serves the Beverly area with expertise in rural property financing and agricultural lending. They're particularly noted for their competitive rates on conventional loans and strong customer service reputation. As a community-focused bank, they understand the specific needs of smaller Washington communities like Beverly and offer flexible underwriting for unique property situations common in rural areas.
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Frequently Asked Questions
Common questions about mortgage lending in Beverly, WA
What are the typical down payment requirements for homes in Beverly, WA, given its rural market?
In Beverly's more affordable market, many conventional loans require a 5% down payment, though some lenders may offer 3% options. For a USDA loan, which is highly relevant for this rural area, you can purchase with 0% down, provided the home and your income meet the program's eligibility requirements. FHA loans are also common, requiring a minimum of 3.5% down.
Are there any special mortgage programs for first-time homebuyers in Grant County that apply to Beverly?
Yes, the Washington State Housing Finance Commission (WSHFC) offers several programs, like the Home Advantage Loan with down payment assistance, which is available statewide including in Beverly. Additionally, the USDA Single Family Housing Guaranteed Loan Program is a key resource for first-time buyers in this rural community, offering competitive rates and no down payment.
How does the appraisal process work for a manufactured or mobile home in Beverly, which has many in its housing stock?
Appraising manufactured homes in Beverly requires a specialist familiar with HUD tags and foundation requirements. Lenders will require the home to be permanently affixed to a owned or leased land parcel and will treat it as real property. This process can be more complex than for a site-built home, so working with a local lender experienced in these transactions is crucial.
What is the impact of Beverly's location in a high-wind zone on homeowners insurance and mortgage approval?
Beverly is in a region prone to high winds, which can lead to higher homeowners insurance premiums—a key factor lenders consider for loan approval. You may be required to purchase a separate wind/hail deductible or policy. Securing adequate and often more costly insurance is a mandatory step for final mortgage approval in this area.
Are bridge loans or other short-term financing options commonly used in Beverly's real estate market?
Bridge loans are not exceptionally common in Beverly's steady but smaller market, but they can be useful if you need to buy a new home before selling an existing one. Given the market pace, a sale contingency or a longer closing period is often a more practical alternative. For financing land purchases to later build on, local agricultural or community banks may offer specific lot loans.
Why Choose a Mortgage Lender in Beverly?
Local Market Knowledge
Lenders who understand Beverly'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 Washington.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Beverly and get competitive rates on your home loan.