The Best Mortgage Lenders in Chehalis, WA
Compare verified mortgage lenders serving Chehalis, Washington. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Chehalis
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender known for its exceptional customer service and competitive rates. With over 28 years of experience, they have a strong presence in the Chehalis area through their Olympia office. They are highly regarded for their fast processing times, high approval rates, and personalized loan options. Their A+ BBB rating and numerous positive reviews highlight their reliability and commitment to client satisfaction, making them a preferred choice for homebuyers in Lewis County.
Loan Types:
New American Funding
New American Funding
New American Funding is a highly reputable mortgage lender with a focus on diverse loan products and community engagement. Serving Chehalis from their Lacey office, they offer competitive rates and specialized programs for first-time homebuyers and underserved communities. With 21 years of experience, they have earned high marks for their transparent processes, educational resources, and responsive customer support. Their strong review scores and industry accolades reflect their dedication to making homeownership accessible and stress-free.
Loan Types:
Movement Mortgage
Movement Mortgage
Movement Mortgage stands out for its efficient loan processing and community-centric approach. With 16 years in the industry, they serve Chehalis through their Olympia branch, offering a wide range of mortgage solutions with a emphasis on speed and convenience. They are praised for their local expertise, competitive rates, and commitment to giving back to the community. High customer satisfaction ratings and a track record of successful closings make them a trusted option for borrowers in the region.
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Frequently Asked Questions
Common questions about mortgage lending in Chehalis, WA
Are there any down payment assistance programs specifically for homebuyers in Chehalis, WA?
Yes, the Washington State Housing Finance Commission (WSHFC) offers several programs, like the Home Advantage and House Key Opportunity programs, which are available statewide including in Chehalis. These can provide down payment assistance in the form of a second, low-interest loan. Additionally, local credit unions like TwinStar Credit Union often have special first-time homebuyer programs tailored for the Lewis County market.
How does the presence of flood zones in the Chehalis River basin affect the mortgage process?
Properties in designated Special Flood Hazard Areas (SFHAs) in Chehalis will require mandatory flood insurance as a condition of the mortgage loan. Your lender will order a Flood Zone Determination, and if the home is in a high-risk zone, you must purchase a policy through the National Flood Insurance Program (NFIP) before closing. This is a critical and common cost factor for many homes in the Chehalis area.
What are typical mortgage rates offered by local lenders in Chehalis compared to national averages?
Mortgage rates in Chehalis are generally aligned with national averages, but local community banks and credit unions, such as Timberland Bank or Sterling Savings Bank, may sometimes offer competitive promotional rates or relationship discounts. It's highly advisable to get quotes from both local institutions and larger national lenders to find the best combination of rate and service for the South Sound region.
Are USDA Rural Development loans a viable option for buying a home in Chehalis, WA?
Absolutely. Most of Lewis County, including the city of Chehalis, is eligible for USDA Rural Development loans, which offer 100% financing (no down payment). This is a major advantage for eligible buyers with moderate incomes looking in this market. You must purchase a home within the eligible area maps and meet income requirements, which are generous for the Chehalis area.
How do property taxes in Lewis County impact my monthly mortgage payment in Chehalis?
Lewis County's property tax rate is a significant component of your monthly escrow payment. The current combined rate for Chehalis is approximately $10-$12 per $1,000 of assessed value. Your lender will estimate these taxes based on the home's assessed value and include 1/12th of the annual bill in your monthly mortgage payment, so it's a key factor in budgeting for your total housing cost.
Why Choose a Mortgage Lender in Chehalis?
Local Market Knowledge
Lenders who understand Chehalis'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 Chehalis and get competitive rates on your home loan.