The Best Mortgage Lenders in Burley, WA
Compare verified mortgage lenders serving Burley, Washington. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Burley
Featured Mortgage Lenders
Sound Credit Union Mortgage Department
Sound Credit Union
Sound Credit Union is one of the highest-rated mortgage lenders serving the Kitsap Peninsula and Burley area, with exceptional customer satisfaction ratings and deep community roots. As a not-for-profit financial cooperative, they offer highly competitive rates and personalized service through their local Port Orchard branch. Their mortgage team specializes in helping borrowers throughout the entire Puget Sound region with comprehensive loan options including specialized programs for military families, first-time homebuyers, and construction financing. With over eight decades of service, they've built a reputation for transparent pricing and exceptional member service.
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Caliber Home Loans - Port Orchard
Caliber Home Loans
Caliber Home Loans in Port Orchard is a highly-rated mortgage lender with strong presence throughout Kitsap County, including serving Burley residents. They have built an outstanding reputation for competitive rates, efficient processing, and expert guidance through the entire mortgage process. Their local team understands the unique aspects of the Puget Sound real estate market and provides personalized service for various loan types, with particular expertise in VA loans important for the nearby military communities. Customers consistently praise their responsiveness, attention to detail, and ability to close loans on time.
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Guild Mortgage - Gig Harbor
Guild Mortgage Company
Guild Mortgage's Gig Harbor office serves the entire Kitsap Peninsula including Burley, with exceptional customer ratings and decades of proven experience. As a nationally recognized mortgage lender with strong local presence, they offer comprehensive loan programs and exceptional customer service. Their team specializes in navigating the unique waterfront and rural property financing common in the Burley area, with expertise in both conventional and government-backed loans. Guild is particularly noted for their educational approach, helping borrowers understand all options while providing competitive rates and smooth closing processes that consistently earn high customer satisfaction scores.
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Frequently Asked Questions
Common questions about mortgage lending in Burley, WA
What are the typical down payment requirements for homes in Burley, WA, given its unique waterfront and rural properties?
In Burley, down payments can vary significantly based on property type. For standard single-family homes, conventional loans often require 5-20%. However, for unique waterfront properties on Burley Lagoon or larger rural parcels, lenders may require a larger down payment, sometimes 20-25% or more, due to perceived higher risk and appraisal complexities in this niche market.
Are there any local or state mortgage assistance programs particularly beneficial for buyers in Burley?
Yes, the Washington State Housing Finance Commission (WSHFC) offers several programs, like the Home Advantage Loan, which can be especially helpful in Burley. These programs often provide competitive interest rates and down payment assistance, which is valuable as buyers may be balancing the desire for waterfront access with the need for affordable financing in Kitsap County.
How does Burley's location in a coastal flood zone impact the mortgage process?
Due to Burley's location along Burley Lagoon and its proximity to Puget Sound, lenders will require a flood zone determination. If the property is in a Special Flood Hazard Area (SFHA), you will be mandated to purchase flood insurance as a condition of the loan, which adds a recurring cost that must be factored into your debt-to-income ratio and overall budget.
What should I know about property appraisals for homes in Burley, given its mix of older homes and unique lots?
Appraisals in Burley can be challenging due to the scarcity of truly comparable sales ("comps") for its unique waterfront and large, wooded parcels. Lenders often seek appraisers with specific experience in the Kitsap County waterfront market. Delays can occur, and the appraisal may come in below the contract price, which is a key contingency to protect in your offer.
Are USDA Rural Development loans available for homebuyers in Burley, WA?
Yes, Burley is eligible for USDA Rural Development loans, which offer 100% financing (no down payment). This is a significant advantage for eligible buyers, as it opens up homeownership in this area without the substantial upfront cash often needed for other loan types, making it an attractive option for first-time or moderate-income buyers.
Why Choose a Mortgage Lender in Burley?
Local Market Knowledge
Lenders who understand Burley'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 Burley and get competitive rates on your home loan.