The Best Mortgage Lenders in Rice, WA
Compare verified mortgage lenders serving Rice, Washington. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Rice
Featured Mortgage Lenders
Mortgage Express
Mortgage Express
Mortgage Express is a highly-rated local mortgage broker serving Eastern Washington, including Rice and Stevens County. With over two decades of experience, they specialize in personalized service and competitive rates for rural properties. Their team has deep knowledge of USDA loans and rural housing programs that are particularly relevant for the Rice area. They consistently receive outstanding reviews for their responsive communication, expert guidance through complex loan scenarios, and ability to close loans efficiently in rural markets.
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STCU Mortgage Services
Spokane Teachers Credit Union
As one of Eastern Washington's largest and most established credit unions, STCU has been serving the region including Stevens County and Rice for nearly 90 years. Their mortgage division offers competitive rates and exceptional member service, with specialized knowledge of rural property financing. STCU consistently ranks among the highest-rated lenders in the Inland Northwest for customer satisfaction, offering personalized mortgage solutions with the stability and trust of a member-owned financial institution.
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Sterling Savings Bank
Sterling Savings Bank
Sterling Savings Bank has deep roots in Eastern Washington and specializes in serving rural communities like Rice. With nearly four decades of experience, they offer comprehensive mortgage solutions including specialized rural property and land loans. Their local loan officers understand the unique aspects of Stevens County real estate and provide personalized service throughout the mortgage process. Sterling receives consistently high marks for their competitive rates, local decision-making authority, and expertise in agricultural and rural residential lending.
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Frequently Asked Questions
Common questions about mortgage lending in Rice, WA
What are the current mortgage rates like in Rice, WA, and how do they compare to the state average?
Mortgage rates in Rice, WA, are generally aligned with national and state averages, but can be slightly influenced by the rural nature of Stevens County. As a smaller, unincorporated community, lender competition might be less than in major metros, so it's wise to shop around with both local credit unions, like STCU or Numerica, and national lenders. Rates for a conventional 30-year fixed loan typically range within 0.125% to 0.25% of the Washington state average.
Are there any down payment assistance programs specifically for buyers in Rice or Stevens County?
Yes, homebuyers in Rice can access the Washington State Housing Finance Commission's (WSHFC) programs, which are available statewide. Key options include the Home Advantage DPA, which offers a down payment loan of up to 4% of the first mortgage, and the Opportunity DPA for buyers in targeted areas, which may include parts of Stevens County. These programs often have income and purchase price limits that are favorable for the Rice area market.
How does the appraisal process work for a home in a rural area like Rice, given the large lots and unique properties?
Appraisals in Rice require an appraiser familiar with rural Stevens County properties. They will look for comparable sales ("comps") from similar rural settings, which can sometimes be fewer and farther apart than in suburban areas, potentially affecting the timeline and valuation. Unique features like well water, septic systems, and large acreage are carefully evaluated, so ensuring these systems are in good working order is crucial for a smooth mortgage process.
What should I know about getting a USDA loan for a property in Rice, WA?
Rice is an excellent location for a USDA Rural Development loan, as nearly all of Stevens County is eligible for this $0-down program. To qualify, the property must meet USDA standards (be modest for the area), and the borrower's household income must not exceed the county limits, which are generous for the area. This is a popular and advantageous loan product for first-time and moderate-income buyers looking at Rice's more affordable, rural properties.
Are there any local credit unions or banks in the Rice area that offer special mortgage terms for residents?
Local credit unions with a strong presence in Stevens County, such as Spokane Teachers Credit Union (STCU) and Numerica Credit Union, often provide competitive mortgage rates and may have more flexibility or personalized service for Rice-area residents. They frequently participate in the WSHFC programs and have a deep understanding of the local property market, which can be beneficial for navigating the mortgage process for rural land and homes.
Why Choose a Mortgage Lender in Rice?
Local Market Knowledge
Lenders who understand Rice'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 Rice and get competitive rates on your home loan.