The Best Mortgage Lenders in Chimacum, WA
Compare verified mortgage lenders serving Chimacum, Washington. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Chimacum
Featured Mortgage Lenders
Kelli R. Smith
Kelli Smith - Guild Mortgage
Kelli Smith at Guild Mortgage's Port Townsend office is one of the highest-rated mortgage professionals serving the Chimacum area. With over 15 years of experience and perfect 5.0 ratings across multiple platforms, she specializes in helping Jefferson County residents with various loan programs. Her deep knowledge of rural lending programs like USDA loans makes her particularly valuable for Chimacum's semi-rural properties. Clients consistently praise her responsiveness, attention to detail, and ability to navigate complex transactions in the unique Olympic Peninsula market.
Loan Types:
Peninsula Credit Union
Peninsula Credit Union
As the largest local financial institution serving the North Olympic Peninsula, Peninsula Credit Union has been helping Chimacum residents with mortgage financing for over seven decades. Their 4.8-star rating reflects exceptional member service and competitive rates. They offer specialized knowledge of local property types, including rural land and manufactured homes common in the Chimacum area. With multiple branches across the peninsula and deep community roots, they provide personalized service and understand the unique aspects of Jefferson County real estate.
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First Fed Bank Mortgage Team
First Fed Bank
First Fed Bank has been serving the Olympic Peninsula for over a century, making them one of the most established and trusted mortgage lenders for Chimacum homeowners. With a 4.7-star rating and extensive experience with local property types, they offer particularly strong construction and land loan programs that benefit Chimacum's growing community. Their mortgage team includes local experts who understand Jefferson County's market dynamics and can provide in-person service while offering competitive rates and flexible terms tailored to individual financial situations.
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Frequently Asked Questions
Common questions about mortgage lending in Chimacum, WA
What are the typical down payment requirements for homes in Chimacum, WA, given its rural nature?
While standard loans often require 5-20% down, Chimacum's designation as a rural area makes many properties eligible for USDA loans, which offer 0% down payment options. Additionally, FHA loans with 3.5% down are common for buyers who may not qualify for USDA. It's crucial to work with a lender familiar with the specific rural boundaries and property eligibility in East Jefferson County.
Are there any local or state down payment assistance programs particularly useful for Chimacum homebuyers?
Yes, the Washington State Housing Finance Commission (WSHFC) offers several programs, like the Home Advantage Downpayment Assistance loan, which can be especially helpful given Chimacum's more moderate price points compared to nearby urban areas. The WSHFC's programs are often paired with favorable mortgage rates and are accessible to buyers in unincorporated communities like Chimacum.
How does the lack of a formal city government in unincorporated Chimacum affect the mortgage and closing process?
The process is administered through Jefferson County. You won't deal with city-specific taxes or programs, but you will pay county property taxes and may need to satisfy specific county requirements, such as septic system inspections (OSS) for most rural parcels, which is a critical contingency in your purchase agreement.
What unique property appraisal challenges might arise for a mortgage on a Chimacum property with acreage or agricultural features?
Appraisals here can be complex, as lenders require appraisers with specific expertise in valuing rural land, outbuildings, and potential income-producing features like small farms. This can sometimes lengthen the loan process and may require a specialized "rural appraisal," so it's important to choose a lender with experience in the area.
How do mortgage interest rates in Chimacum compare to those in nearby Port Townsend or Seattle?
Mortgage rates are primarily set by national markets and your personal credit, not your specific town. However, lenders may perceive slightly different risks for rural properties, which could marginally affect terms. The key for Chimacum buyers is to shop lenders who are comfortable with rural lending, as they often provide the most competitive and appropriate loan products for the area.
Nearby Cities
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Why Choose a Mortgage Lender in Chimacum?
Local Market Knowledge
Lenders who understand Chimacum'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 Chimacum and get competitive rates on your home loan.