The Best Mortgage Lenders in Burbank, WA
Compare verified mortgage lenders serving Burbank, Washington. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Burbank
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with a strong regional presence in Eastern Washington, serving Burbank and surrounding areas. Known for competitive rates, exceptional customer service, and a wide range of loan options, they have built a reputation for reliability and personalized mortgage solutions. Their experienced team and efficient processing make them a preferred choice for homebuyers in the region.
Loan Types:
Caliber Home Loans
Caliber Home Loans Inc.
Caliber Home Loans offers a comprehensive suite of mortgage products with a focus on customer satisfaction and competitive pricing. Serving Burbank through their Spokane office, they provide flexible loan options and streamlined processes. Their commitment to transparency and community support has earned them high marks from borrowers in Eastern Washington.
Loan Types:
New American Funding
New American Funding
New American Funding is renowned for its diverse loan programs and strong customer service, with a local branch in Spokane that serves Burbank residents. They emphasize accessibility and education for borrowers, offering tailored solutions and competitive rates. Their dedication to community involvement and high ethical standards makes them a trusted lender in the area.
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Frequently Asked Questions
Common questions about mortgage lending in Burbank, WA
What are the current mortgage rates like in Burbank, WA, and how do they compare to the state average?
Mortgage rates in Burbank, WA, are generally aligned with national and state averages, but can be slightly influenced by the rural nature of Walla Walla County. As of recent trends, rates for a 30-year fixed mortgage in the area are competitive. It's advisable to compare offers from local credit unions, like Gesa Credit Union or Banner Bank, which often have strong community lending programs and may offer favorable terms for local buyers.
Are there any down payment assistance programs specifically for homebuyers in Burbank, WA?
Yes, Burbank homebuyers may qualify for the Washington State Housing Finance Commission's (WSHFC) Home Advantage DPA program, which offers down payment assistance in the form of a second, low-interest loan. Additionally, as part of Walla Walla County, buyers with low-to-moderate incomes might access county-specific grants or programs. A local mortgage lender can help determine eligibility based on the home's location in the Burbank area.
How does the appraisal process work for a home in Burbank, given its mix of riverfront properties and agricultural land?
Appraisals in Burbank require specialized knowledge due to the diverse property types, from Columbia River waterfront homes to parcels with irrigation rights. Lenders will use appraisers familiar with the local market who understand the value drivers, such as water access, soil quality for agriculture, and flood zone designations (many areas are in a floodplain), which can affect insurance requirements and loan terms.
What should I know about property taxes and insurance when getting a mortgage in Burbank?
Property taxes in Burbank are based on Walla Walla County rates and can vary, especially if the property is classified as agricultural. Homeowners insurance is a critical and sometimes costly component due to the high risk of flooding; most lenders will require a separate flood insurance policy through the NFIP for properties in the designated floodplain, which must be escrowed as part of your monthly mortgage payment.
Are USDA loans a common and good option for buying a home in Burbank, WA?
Absolutely. Given Burbank's rural designation by the USDA, many homes in the area qualify for USDA Rural Development loans, which offer 100% financing (no down payment) for eligible borrowers. This is one of the most advantageous programs for buyers in Burbank, as it directly addresses the challenge of saving for a down payment in a market where incomes may not keep pace with larger urban centers.
Why Choose a Mortgage Lender in Burbank?
Local Market Knowledge
Lenders who understand Burbank'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 Burbank and get competitive rates on your home loan.