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Garfield County, Washington FHA, VA, and USDA Loan Information

Table of Contents

-How to purchase a home in Garfield County
-What are the government loan limits in Garfield County, WA?
-What parts of Garfield County are eligible for USDA loans?
-Do I need flood insurance?
-How do I learn about Property Taxes in Garfield County
-What is the median home price in Garfield County, WA?
-How many people live in Garfield County?
-What are the major cities?
-How do I see FHA- and VA-Approved homes for sale?
-Is there a cost to have a real estate agent represent me?
-What closing costs do I need?
-How can I get assistance with closing costs?
-About Garfield County
-How much of a loan can I qualify for, based on my income?
-Approved Condominium Projects in Garfield County

How to purchase a home in Garfield County

Are you interested in buying a home in Garfield County? This is a step by step guide to all the ins and outs of the homebuying process. For more detail about FHA loans, be sure to check out our complete guide. We also have an in-depth guide to VA loans and the USDA’s Rural Development home loan program.
For now, let’s look at the basic steps to buying a home – and what you’ll have to look out for in Garfield County.

  1. Get in touch with a loan officer – give us a call at 877-432-5626 We can help you figure out what type of loan you might qualify for. Programs through the VA, USDA, and FHA allow you to buy a home with a small down payment – or no down payment at all. We will also check your credit and income to see how much of a loan you can qualify for. When we do this, we do a “soft pull” on your credit. This is different from an official credit inquiry and won’t hurt your credit score.
  2. Compare loan offers. Either call us or fill out the form by filling up the form at the top right of this page.
  3. Give your Loan Officer the information they need to find you a loan For a purchase loan or cash-out refinances:
    • Your ID
    • Previous two years of W2s
    • Most recent 30 days paystubs
    • Most recent 60 days bank statements
    • Landlord and HR/Payroll Department contact info
      For a refinance loan, you will also need information on the loan you want to refinance.
  4. Contact our Loan officers to compare the interest rates and APRS – but keep in mind that the fixed- and adjustable-rate mortgages are apples and oranges. Use the Loan Estimate to compare the true costs of each loan, both month-to-month and over the life of the mortgage.
  5. Find a home Get connected with a FedHome Loan Centers Real Estate Agent. Once you meet with them to talk about your wants and needs, you can sign up for the property search feed. This will give you alerts about homes for sale in Garfield County. Now you’re ready to preview properties and start touring homes.
  6. Make an offer and negotiate the terms of the sale
  7. Get the necessary and recommended inspections Required Inspections:
    • Termite Inspection
    • Well or septic inspections, if applicable
    • We can help you check if your home is in one of the Garfield County flood hazard areas.
      Recommended Inspections:
      Home Inspection, Roof Inspection, Sewer Inspection
  8. Get the home appraised Construction loans require a construction appraisal and permit approval
  9. Lock in your interest rate Pro Tip: Wait until the appraisal to lock in your loan rates. If it turns out you need to make repairs, it can push the closing back. Then you run the risk of losing that rate or having to pay an extension fee.
  10. Close the deal and get packing! You’re ready to go!

FAQ

What are the Loan Limits for Garfield County?

  • FHA Loan Limit $331,760 (Single family residence) / $424,800 (Duplex) / $513,450 (Triplex) / $638,100 (Fourplex)
  • USDA Loan Limit $265,400
  • VA Home Loan Limit $0 down up to $3,000,000 / 2 open VA loans at one time $510,400 *(Call 877-432-5626 for details).

What Parts of Garfield County are eligible for USDA Loans?

  • Garfield County is eligible for a USDA Rural Development home loan.
  • Eligible Zip Code: 99347.

Do I need Flood Insurance?

The FHA, USDA, and VA all require flood insurance in Special Flood Hazard Areas.

How do I learn about Property Taxes in Garfield County?

  • Jim Yellico is the Garfield county tax assessor. His office is located at 109 8th Street, Suite 207 Glenwood Springs, Colorado 81601. He can also be reached by calling (970) 945-9134.
  • Washington state offers about 50 tax incentives and deductions meant to bolster local business growth. Also, there are several tax credits programs for specific industries that meet individual requirements. Furthermore, deferral programs are also available for manufacturers, high technology businesses, and fruit & vegetable businesses.

What is the Median Home Price in Garfield County?

The median property value for Garfield County is $143,800. Also, the median household income for residents of the county is $52,525.

How many people live in Garfield County?

Garfield County’s population is 2,225, which includes about 220 veterans. Demographically speaking, 88% of the population is White, with 5% Hispanic, and 3% Asian.

What are the major cities?

The county has one city, the city of Pomeroy, which also serves as the county seat. 

How do I see FHA- and VA-Approved homes for sale?

You can view all of the properties available for sale in Garfield County through our Multiple Listing Service. In addition, you can see approved condos at the bottom of this page.

Is there a cost to have a real estate agent represent me?

The seller must pay the real estate professionals’ commission, not the buyer. This means that, as a homebuyer, there is no cost to have a real estate agent represent you. In fact, it’s a good idea to get your own agent in order to have someone in your corner during the negotiation process. For more information about real estate agents, click here.

What closing costs do I need?

For FHA loans, closing costs can end up being 3-4% of the loan amount. These costs include origination fees from the lender, any discount points purchased for a better interest rate, and pre-paid items like insurance and taxes.

How can I get assistance with closing costs?

There are several ways to reduce the amount you have to pay at closing. One way is to get down payment assistance. The FHA’s Within Reach program provides grants to help low- and middle-income families with their down payment.

About Garfield County

Garfield county’s colonization came at the hands of both British and American explorers. However, the British used the area mostly for fur trading. At the same time, the Americans were more focused on finding land in Washington for agriculture and raising cattle. Eventually, the Americans established county in 1881.

Today, the county’s biggest employment industries are agriculture, retail trade, and educational services. Hence, the most common occupations are in the management, office administration, and sales sectors.

When it comes to education, the county is home to one district, the Pomeroy School District. With a total of two schools, the school’s area educates about 382 students every year.

The county is, by all means, a small county. However, that does not stop them from celebrating their community and history by hosting annual events. These events include the Pioneer Day & tumbleweed Festival every June, Garfield County Fair every September, and the Starlight Parade & Festival of Trees after Thanksgiving.

How much of a loan can I qualify for, based on my income?

Monthly Income Purchase Price
$2,628.90 $195,175.91
$2,832.00 $210,254.55
$3,181.50 $236,202.27
$3,612.00 $268,163.64
$3,985.50 $295,893.18
$4,361.10 $323,778.64
$4,971.90 $369,125.91
$5,761.50 $427,747.73
$6,892.20 $520,625.00
$5,199.60 $368,791.82
$5,743.80 $408,815.91
$6,249.90 $450,287.73
$6,998.10 $501,960.45
$9,776.70 $725,845.91
$5,568.00 $413,381.82
$6,574.80 $488,129.09
$7,569.60 $561,985.45
$5,141.40 $381,710.00
$6,345.30 $471,090.45
$7,639.80 $567,197.27
$8,360.10 $620,674.09
$9,260.70 $687,536.82
$10,095.30 $749,499.55
$12,165.00 $903,159.09
$13,929.60 $1,034,167.27
$17,511.00 $1,300,059.09
$18,406.80 $1,366,506.06

Purchase Price subject to credit and income evaluation. 

Approved Condos in Garfield County

Garfield County currently has no VA or FHA approved condos available. However, if you’re still interested in getting a condo within the county we can help you through the approval process. Just give us a call at (877) 432-5626.

Find and Finance Your Dream Home in Garfield County

FedHome Loan Centers can help you  finance a new condo or home in Garfield County. Find out how we can help you today! 

Make your property search easy by contacting us by clicking here.