The Best Mortgage Lenders in Valley, WA
Compare verified mortgage lenders serving Valley, Washington. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Valley
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with a strong local presence in Eastern Washington, including service to Valley. Known for exceptional customer service and competitive rates, they have numerous positive reviews highlighting their efficiency in processing loans and personalized guidance. Their extensive experience and wide range of loan options make them a reliable choice for homebuyers in rural areas like Valley.
Loan Types:
New American Funding
New American Funding
New American Funding is a highly regarded mortgage lender with a dedicated branch in Spokane that serves Valley and surrounding areas. They are praised for their diverse loan programs, including options for first-time homebuyers and those with unique financial situations. With a focus on community engagement and transparent processes, they have built a reputation for reliability and high customer satisfaction in Washington State.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a reputable national lender with a strong local presence in the Spokane area, actively serving Valley, WA. They are known for their quick loan processing, competitive rates, and commitment to customer service, earning high marks from borrowers for their responsiveness and support throughout the mortgage process. Their community-focused approach and extensive loan offerings make them a top choice for home financing in the region.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Valley, WA
What are the current mortgage rates like in Valley, WA, and how do they compare to the state average?
Mortgage rates in Valley, WA, typically align closely with national and state averages, as it's a smaller community. However, local lenders may offer competitive rates, especially for well-qualified buyers. It's wise to compare offers from a local credit union, like a nearby Spokane-based institution, alongside national lenders, as local institutions often have a strong understanding of the Valley and Stevens County property market.
Are there any down payment assistance programs specifically for buyers in Stevens County or the town of Valley?
Yes, homebuyers in Valley may qualify for the Washington State Housing Finance Commission's (WSHFC) down payment assistance programs, which are available statewide. Programs like the Home Advantage DPA offer deferred, low-interest loans for down payment and closing costs. Eligibility is based on income and the home's purchase price, with limits that are favorable for the Valley market.
How does the appraisal process work for a rural property in Valley, WA, and are there any unique challenges?
Appraising rural properties in Valley can be more complex than in urban areas due to the lack of comparable sales ("comps"). Appraisers must often look at similar properties across a wider area of Stevens County, which can sometimes lead to valuation challenges, especially for unique parcels with acreage or outbuildings. Working with a lender experienced in rural mortgages is crucial to navigate this process smoothly.
What should I know about property taxes and insurance when getting a mortgage in Valley?
Property taxes in Stevens County are generally lower than in more populous Washington counties, which can positively impact your monthly payment. However, you must factor in the potential cost of a separate flood insurance policy if your property is near the Pend Oreille River or other waterways, as this is often a mandatory requirement from lenders and affects your total monthly escrow payment.
As a first-time homebuyer in Valley, what local lender resources or homebuyer education should I consider?
First-time buyers in Valley are strongly encouraged to complete a WSHFC-approved homebuyer education course, which is often required for state assistance programs. Local resources can be accessed through housing counselors in nearby Spokane or through online providers. Additionally, connecting with a local real estate agent who understands the specifics of the Valley and Colville area markets is an invaluable resource for navigating the purchase process.
Why Choose a Mortgage Lender in Valley?
Local Market Knowledge
Lenders who understand Valley'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 Valley and get competitive rates on your home loan.