The Best Mortgage Lenders in Spokane, WA
Compare verified mortgage lenders serving Spokane, Washington. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Spokane
Featured Mortgage Lenders
Numerica Credit Union
Numerica Credit Union
Numerica Credit Union stands as one of Spokane's most trusted local financial institutions with over eight decades of service. As a member-owned cooperative, they consistently earn exceptional ratings for personalized mortgage services and competitive rates. Their mortgage advisors provide comprehensive guidance through the entire home financing process, with special expertise in first-time homebuyer programs and VA loans. With deep community roots and multiple Spokane-area branches, they offer the convenience of local decision-making combined with a full suite of mortgage products. Their high customer satisfaction scores reflect their commitment to making homeownership accessible and affordable for Spokane residents.
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Sterling Mortgage
Sterling Mortgage Group
Sterling Mortgage has built an outstanding reputation as a premier Spokane-based mortgage broker with over two decades of dedicated service. They consistently receive near-perfect ratings for their exceptional customer service, expert guidance, and competitive loan options. As a local brokerage, they leverage relationships with multiple lenders to secure the best possible terms for each client's unique situation. Their team of experienced loan officers specializes in complex financing scenarios, investment properties, and construction loans while maintaining a personalized approach. The company's deep knowledge of the Spokane housing market and commitment to transparent communication make them a top choice for homebuyers seeking local expertise.
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Guild Mortgage
Guild Mortgage Company
Guild Mortgage combines national strength with strong local presence in Spokane, operating for over six decades with an excellent track record. As a direct lender with local processing and underwriting, they offer the efficiency of streamlined operations while maintaining personalized service. Their Spokane branch receives consistently high ratings for knowledgeable loan officers who excel at navigating complex loan scenarios and providing flexible solutions. Guild specializes in government-backed loans including VA and FHA programs, making them particularly valuable for military families and first-time buyers. Their commitment to community involvement and extensive experience with Spokane's diverse housing market positions them as a reliable choice for comprehensive mortgage services.
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Frequently Asked Questions
Common questions about mortgage lending in Spokane, WA
Are there any special down payment assistance programs for first-time homebuyers in Spokane?
Yes, the Washington State Housing Finance Commission (WSHFC) offers several programs accessible in Spokane, such as the Home Advantage Downpayment Assistance loan. Additionally, the City of Spokane itself administers the HOME Investment Partnership Program, which provides deferred-payment loans to assist low-to-moderate income buyers with down payment and closing costs, specifically for homes within city limits.
How does Spokane's more affordable market affect jumbo loan requirements compared to Seattle?
Spokane's conforming loan limit is the same as the national baseline ($ in 2023), which is significantly lower than the high-cost area limit in Seattle. This means the threshold for needing a jumbo loan is lower in Spokane. However, due to the overall lower home prices, fewer buyers typically need jumbo loans, and local lenders are very familiar with standard conforming and FHA financing.
What should I know about property taxes and insurance when calculating my mortgage payment in Spokane?
Spokane County property taxes are a key component, with rates varying by specific school and fire districts. Furthermore, given Eastern Washington's wildfire risk, lenders will require comprehensive homeowners insurance, and you may need to budget for a separate wildfire insurance policy or higher premiums, which can impact your total monthly payment.
Are there specific mortgage programs or considerations for buying a home in Spokane's historic neighborhoods like Browne's Addition or the South Hill?
Yes, if you're purchasing a designated historic home, you may qualify for a special assessment freeze on property taxes through the Spokane City/County Historic Preservation Office. For financing, while standard loans apply, you should work with a lender experienced in older homes, as appraisals may require additional scrutiny for outdated systems (like knob-and-tube wiring) that could affect loan approval.
How competitive is the mortgage rate environment with local Spokane credit unions versus national banks?
Spokane has strong local credit unions like STCU and Global Credit Union that often offer very competitive mortgage rates and lower fees due to their member-focused structure. It's highly advisable to get quotes from both these local institutions and national lenders, as local credit unions may have special programs or more flexibility for buyers with unique financial situations.
Why Choose a Mortgage Lender in Spokane?
Local Market Knowledge
Lenders who understand Spokane'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 Spokane and get competitive rates on your home loan.