The Best Mortgage Lenders in Palisades, WA
Compare verified mortgage lenders serving Palisades, Washington. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Palisades
Featured Mortgage Lenders
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender with over 28 years of experience, renowned for exceptional customer service and competitive rates. They specialize in a wide range of loan products, including FHA, VA, and USDA loans, making them ideal for first-time homebuyers and veterans in Eastern Washington. With a strong local presence in Spokane, they serve Palisades and surrounding areas, boasting high customer satisfaction scores for their personalized approach and efficient processing.
Loan Types:
Caliber Home Loans
Caliber Home Loans, Inc.
Caliber Home Loans is a highly reputable lender known for its digital mortgage experience and fast loan processing. Founded in 2008, they offer a variety of loan options, including FHA and VA loans, with competitive rates that appeal to buyers in Washington state. Their Bellevue branch provides reliable service to Palisades and the broader region, supported by strong customer reviews highlighting their transparency and support throughout the homebuying journey.
Loan Types:
New American Funding
New American Funding
New American Funding is a well-established lender with over two decades of experience, praised for its commitment to diverse lending and community involvement. They offer a broad spectrum of loan types, including adjustable-rate mortgages and jumbo loans, catering to various financial needs in Eastern Washington. Their Spokane office ensures accessible service for Palisades residents, with high customer ratings reflecting their reliability, educational resources, and dedicated support team.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Palisades, WA
What are the typical down payment requirements for homes in Palisades, WA, given its proximity to Spokane?
For most conventional loans in Palisades, a 20% down payment is standard to avoid private mortgage insurance (PMI), but many lenders offer programs with as little as 3-5% down. Given the area's mix of suburban and more rural properties, USDA loans with 0% down may also be an option for eligible homes and borrowers in specific locations within the Palisades area, making homeownership more accessible.
Are there any local or state-specific first-time homebuyer programs that are particularly useful in Palisades?
Yes, the Washington State Housing Finance Commission (WSHFC) offers several programs, like the Home Advantage Loan with competitive rates and down payment assistance, which are accessible to Palisades buyers. These programs often have income and purchase price limits that align well with the Palisades and greater Spokane County market, providing valuable support for qualifying first-time buyers.
How does the appraisal process work for a home in Palisades, which can have unique properties with larger lots?
Appraisals in Palisades must carefully account for the value of larger, often irregular lots and the mix of newer subdivisions and older homes. Appraisers will use comparable sales ("comps") primarily from within Palisades and nearby Spokane County areas, focusing on properties with similar acreage, views of the Spokane River or Mount Spokane, and access to community amenities, which can significantly influence value.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Palisades?
Your mortgage payment will include an escrow for property taxes, which in Spokane County (where Palisades is located) are calculated at a rate of about 1.0-1.2% of the home's assessed value. Additionally, due to the wildland-urban interface, homeowners insurance may be higher than in central Spokane to account for wildfire risk, a critical factor for lenders when approving your loan.
How do mortgage rates in Palisades, WA, compare to the national average, and what local factors influence them?
Mortgage rates in Palisades generally align with national averages but can be influenced by local lender competition in the Spokane metro area. Specific property factors, such as a home's condition, lot size, and distance from major employment centers, can affect the final rate offered, as lenders assess the overall risk of the collateral in this specific suburban-rural market.
Why Choose a Mortgage Lender in Palisades?
Local Market Knowledge
Lenders who understand Palisades'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 Palisades and get competitive rates on your home loan.