Your Spokane Mortgage Lender
Spokane, located in the eastern part of Washington State, is a vibrant city known for its natural beauty, outdoor recreational opportunities, and cultural attractions. Spokane is situated along the Spokane River, surrounded by rolling hills and scenic landscapes. The city’s proximity to nature is a major draw, with several parks, trails, and outdoor spaces for residents and visitors to enjoy. One of Spokane’s most iconic attractions, Riverfront Park offers a beautiful green space along the Spokane River. The park is home to the Spokane Falls, which cascade through the heart of downtown. Visitors can enjoy walking paths, sculptures, and attractions like the historic Looff Carrousel and the SkyRide gondola. The greater Spokane area is a paradise for outdoor enthusiasts. The nearby Mount Spokane State Park offers hiking and skiing opportunities, and the Centennial Trail provides a scenic route for walking, biking, and running along the Spokane River. Just a short drive from Spokane is Lake Coeur d’Alene, a stunning alpine lake known for its crystal-clear waters and recreational activities such as boating, fishing, and water sports. The Spokane region is part of Washington State’s burgeoning wine country. The Spokane Valley and surrounding areas have numerous wineries and tasting rooms that produce a variety of wines.
Nearby towns like Coeur d’Alene (Idaho) and Sandpoint offer a mix of history, culture, and waterfront attractions. Sandpoint, for instance, is located on Lake Pend Oreille and offers boating, fishing, and a charming downtown. Like many cities, Spokane has faced challenges with limited housing inventory, particularly in certain price ranges. Low inventory levels can lead to increased competition among buyers and potentially drive-up home prices. Spokane has seen a trend of rising home prices, although the rate of appreciation tends to be more moderate compared to some other major cities. This has been driven by strong demand and limited supply.
Due to the rapid rise in appreciation in Washington State, the current single-family conforming loan limit for most counties in Washington State is $766,550 (an increase over the 2023 cap of $726,200). For reference, the loan limit in 2022 for a primary single-family residence was $647,200. In the more expensive Seattle-area counties of King, Pierce, and Snohomish, the single-family high balance loan limit has been increased to $977,500 for 2023. The loan limits vary from the number of units and the type of properties that are being financed.
M & M Mortgage, LLC founded in 2006 licensed in Washington, Colorado, Minnesota, and Wisconsin is a mortgage broker that collaborates with leading wholesale lenders across the nation to deliver customized mortgage solutions tailored to the specific needs of our clients in the city of Spokane and local surrounding communities. The local housing market has various property types such as single-family homes, duplexes, triplexes, quadplexes that we have financed for thousands of clients in the local surrounding area. We will work with the first-time home buyer, walking you through the entire process by prequalifying you upfront to the final closing of the loan. New or seasoned real estate investors reach out to us for our experience in self-employed investors cash flow options by cashing out equity for increasing the number of properties you wish to own. We broker all types of loans from Conventional 1ST mortgages, FHA, VA, Reverses loans. Whatever real estate questions you might have, from a purchase to refinancing your current property, we will give you an answer from our very experienced staff.
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