The Best Mortgage Lenders in Edmonds, WA
Compare verified mortgage lenders serving Edmonds, Washington. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Edmonds
Featured Mortgage Lenders
Guild Mortgage Company
Guild Mortgage Company - Lynnwood Branch
Guild Mortgage's Lynnwood branch serves the Edmonds area with exceptional expertise in Pacific Northwest real estate. With over 60 years in business nationally and strong local presence, they offer personalized service and competitive rates. Their team specializes in first-time homebuyer programs, VA loans, and complex financing scenarios. The Lynnwood office maintains consistently high ratings for their knowledgeable loan officers, streamlined process, and excellent customer communication throughout the mortgage journey.
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BECU
Boeing Employees Credit Union
As Washington's largest credit union, BECU has deep roots in the Puget Sound region and serves Edmonds residents with competitive mortgage products and member-focused service. Their not-for-profit structure often results in lower rates and fees compared to traditional banks. BECU receives high marks for their digital mortgage experience, local underwriting teams, and commitment to community lending. Members appreciate the personalized guidance from local mortgage specialists who understand the Edmonds housing market.
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Sound Credit Union
Sound Credit Union - Mortgage Division
Sound Credit Union has been serving Puget Sound communities for over 80 years with a strong focus on local home financing. Their mortgage team specializes in the unique aspects of Washington state real estate, including Edmonds' competitive market. They offer competitive rates, flexible loan terms, and exceptional member service. Customers consistently praise their responsive communication, knowledgeable loan officers, and ability to close loans efficiently even in challenging market conditions.
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Frequently Asked Questions
Common questions about mortgage lending in Edmonds, WA
What are the current mortgage rates like in Edmonds, WA, and how do they compare to the national average?
Mortgage rates in Edmonds are typically very close to the national average, as they are driven by broader economic factors. However, due to Washington's competitive housing market and Edmonds' desirability, you may find that lenders offer slightly different rates based on your financial profile and loan type. It's crucial to shop around with both local credit unions, like Sound Credit Union, and national lenders to secure the best rate for your situation.
Are there any down payment assistance programs specifically for first-time homebuyers in Edmonds?
Yes, the Washington State Housing Finance Commission (WSHFC) offers several programs, like the Home Advantage Loan and Downpayment Assistance, which are available to eligible buyers in Edmonds. These programs can provide competitive interest rates and down payment help. Additionally, the City of Edmonds itself does not currently run its own separate assistance program, so state and federal options are your primary resource.
How does the proximity to the Edmonds waterfront or landslide-prone areas affect the mortgage process?
Purchasing a home in a designated landslide or erosion hazard area, which includes some waterfront and bluff properties, can complicate financing. Lenders may require a specialized geological report and potentially additional insurance, which can affect the appraisal and loan approval timeline. It's essential to work with a lender experienced in these unique Edmonds property challenges.
What type of mortgage is most common for buyers in Edmonds' competitive market?
Given the high home prices in Edmonds, conventional conforming loans and jumbo loans are very common. Many buyers opt for conventional loans with strong offers (often with 20% down to waive mortgage insurance), while jumbo loans are frequently needed for properties above the conforming loan limit ($$970,800 in 2023). All-cash offers are also prevalent, so financing buyers need to present very strong, pre-approved offers.
Does the City of Edmonds have any specific requirements or taxes that impact my closing costs?
Yes, you should budget for Washington State's Real Estate Excise Tax (REET), which is a seller-paid tax that can sometimes influence negotiations. Furthermore, the City of Edmonds charges utility connection fees that are typically paid at closing. While not a city-specific mortgage fee, the high property taxes in Snohomish County are a significant ongoing cost that lenders will factor into your debt-to-income ratio.
Nearby Cities
Explore mortgage lenders in cities near Edmonds, WA
Why Choose a Mortgage Lender in Edmonds?
Local Market Knowledge
Lenders who understand Edmonds'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 Edmonds and get competitive rates on your home loan.