The Best Mortgage Lenders in Union, WA
Compare verified mortgage lenders serving Union, Washington. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Union
Featured Mortgage Lenders
Caliber Home Loans
Caliber Home Loans, Inc.
Caliber Home Loans is a top-rated mortgage lender with a strong presence in the Pacific Northwest, serving Union and surrounding Mason County through its Olympia office. Known for competitive rates and exceptional customer service, Caliber specializes in a wide range of loan products including USDA loans ideal for rural areas like Union. With hundreds of positive reviews highlighting their efficient processing and personalized guidance, they have built a reputation for reliability and transparency in the mortgage industry. Their local loan officers have deep knowledge of Washington State housing markets, making them a preferred choice for homebuyers in the region.
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New American Funding
New American Funding
New American Funding is a highly-rated mortgage lender with a local office in Lacey that actively serves clients in Union and Mason County. They are celebrated for their diverse loan options and strong commitment to first-time homebuyers and underserved communities. With excellent customer satisfaction scores and competitive rate offerings, NAF provides personalized service through dedicated local advisors. Their expertise in USDA and VA loans makes them particularly valuable for Union's rural and veteran populations. The company's long track record and numerous industry awards underscore their reliability and customer-centric approach.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a nationally recognized lender with a strong regional presence in Western Washington, serving Union through their Tacoma branch. They are praised for their fast closing times, competitive rates, and community involvement. Movement specializes in various loan types with particular strength in government-backed loans suitable for Union's market. Their local loan officers provide tailored advice and seamless processing, earning high marks for communication and reliability. With a focus on building long-term relationships and supporting local housing initiatives, Movement has become a trusted partner for homebuyers in the area.
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Frequently Asked Questions
Common questions about mortgage lending in Union, WA
What are the unique mortgage considerations for buying a waterfront or high-bank property in Union, WA?
Purchasing waterfront property along the Hood Canal or a home on a steep slope in Union often requires additional due diligence. Lenders may require specialized appraisals and could mandate environmental or geotechnical reports to assess erosion and stability risks, which can affect loan approval and terms. It's also common for insurance premiums, including flood insurance, to be higher, which lenders factor into your debt-to-income ratio.
Are there any local or state down payment assistance programs accessible to first-time homebuyers in Union?
Yes, buyers in Union can access the Washington State Housing Finance Commission's (WSHFC) programs, such as the Home Advantage Loan with down payment assistance. These programs often have income and purchase price limits, which are quite relevant given Union's mix of luxury waterfront and more modest inland homes. Working with a local lender familiar with these state-wide programs is key to navigating eligibility.
How does the seasonal and vacation home market in Union impact mortgage lending?
Union has a significant number of second homes and vacation properties. Financing for these non-primary residences typically requires a larger down payment (often 10-20% minimum) and comes with slightly higher interest rates compared to loans for primary residences. Lenders will also scrutinize rental income projections if you plan to use the property as a short-term rental, which is common in the area.
What is a typical down payment requirement for a conventional loan on a home in Union's current market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many buyers in Union successfully purchase with conventional loans and 5-10% down, especially for primary residences. For the area's higher-priced waterfront homes, a larger down payment is often necessary to meet loan-to-value requirements and make offers competitive in a market with limited inventory.
Are USDA rural housing loans available in Union, WA, and what are the benefits?
Yes, Union is located in an area eligible for USDA Rural Development loans, which offer 100% financing (no down payment) for qualified buyers meeting income limits. This can be a powerful tool for purchasing a primary residence, particularly for the more affordable homes away from the immediate waterfront. It's important to confirm the specific property's eligibility, as not all parcels in the area may qualify.
Why Choose a Mortgage Lender in Union?
Local Market Knowledge
Lenders who understand Union'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 Union and get competitive rates on your home loan.