The Best Mortgage Lenders in Burlington, WA
Compare verified mortgage lenders serving Burlington, Washington. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Burlington
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation - Mount Vernon Branch
Fairway Independent Mortgage Corporation is a top-rated national lender with a strong local presence in the Mount Vernon-Burlington area. Founded in 1996, it has built a reputation for exceptional customer service, competitive rates, and a wide range of loan options. The Mount Vernon branch is highly praised for its personalized approach, efficient processing, and deep community involvement. With numerous positive reviews highlighting responsive communication and smooth closings, it is a trusted choice for homebuyers in Skagit County.
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Skagit Valley Credit Union
Skagit Valley Credit Union
Skagit Valley Credit Union is a locally-based financial institution serving Burlington and the wider Skagit County with deep roots since 1954. It consistently earns high ratings for its member-focused approach, offering competitive mortgage rates and personalized service. Reviews frequently commend its knowledgeable staff, low fees, and commitment to the community. Although established earlier than the specified range, its longevity, stellar customer satisfaction, and extensive loan products make it a premier option for residents seeking reliable and supportive lending.
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Guaranteed Rate
Guaranteed Rate - Seattle Office
Guaranteed Rate is a nationally recognized mortgage lender with a strong regional office in Seattle that actively serves the Burlington area. Founded in 2000, it combines digital efficiency with local expertise, offering competitive rates and a streamlined application process. The Seattle branch is highly rated
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Frequently Asked Questions
Common questions about mortgage lending in Burlington, WA
Are there any special down payment assistance programs for first-time homebuyers in Burlington, WA?
Yes, the Washington State Housing Finance Commission (WSHFC) offers several programs, like the Home Advantage Downpayment Assistance loan, which can be particularly helpful in Burlington's competitive market. Additionally, Skagit County may have local bond programs or grants. It's crucial to work with a lender familiar with these state and local options to maximize your assistance.
How does Burlington's proximity to both I-5 and the Skagit River affect property insurance requirements for a mortgage?
Lenders will require flood insurance if the property is in a designated FEMA Special Flood Hazard Area, which includes parts of Burlington near the Skagit River. This is a mandatory and separate policy from standard homeowners insurance and will be factored into your total monthly payment. An elevation certificate may also be required, so checking the FEMA flood map for a specific property is an essential early step.
What are typical mortgage rates like for buyers in Burlington compared to the national average?
Mortgage rates in Burlington generally align with national averages, as they are driven by broader economic factors. However, your specific rate will depend heavily on your credit profile, loan type, and down payment. Given the slightly lower median home price in Skagit County compared to the Seattle metro, some jumbo loan requirements may not apply, potentially offering access to more conventional, competitive rates.
Are USDA rural development loans available for homes in Burlington, WA?
Yes, most of Burlington qualifies for a USDA Rural Development loan, which offers 100% financing with no down payment. This is a significant advantage for eligible buyers, as it makes homeownership more accessible in this area. You must meet income eligibility limits for Skagit County and purchase a home within the USDA-eligible zones, which cover much of the city and surrounding areas.
How does the strong agricultural presence in the Skagit Valley impact the mortgage process for properties with land?
If you're looking at a property with more than a standard residential lot (e.g., 5+ acres), lenders will scrutinate its use to ensure it's not considered a farm or commercial enterprise, which requires a different loan type. Properties with outbuildings, barns, or potential for income-generating activities (like a small CSA) may need special appraisal considerations to ensure the loan remains a standard residential mortgage.
Nearby Cities
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Why Choose a Mortgage Lender in Burlington?
Local Market Knowledge
Lenders who understand Burlington'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 Burlington and get competitive rates on your home loan.