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

Table of Contents

-How do I buy a home in Pacific County
-What are the government loan limits in Pacific County, WA?
-What parts of Pacific County are eligible for USDA loans?
-Do I need flood insurance?
-How do I learn about Property Taxes in Pacific County
-What is the median home price in Pacific County, WA?
-How many people live in Pacific 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 Pacific County
-How much of a loan can I qualify for, based on my income?
-Approved Condominium Projects in Pacific County

How do I buy a home in Pacific County

Are you interested in buying a home in Pacific 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 Pacific 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 Pacific 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 Pacific 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 Pacific 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 Pacific County are eligible for USDA Loans?

  • Most of Pacific County is eligible for a USDA Rural Development home loan.
  • Eligible Zip Codes: 98527, 98614, 98624, 98631, 98638, 98640, 98641, 98644, 98577, 98586, 98590.

Do I need Flood Insurance?

  • The FHA, USDA, and VA all require flood insurance in Special Flood Hazard Areas.
  • In Pacific County, there are flood hazard areas located around Willapa Bay and the connecting Naselle River.

How do I learn about Property Taxes in Pacific County?

  • Bruce Walker is the Pacific county tax assessor. His office is located at 300 Memorial Drive, South Bend, Washington 98586. Also, his office can be reached by calling (360)875-9301.
  • Washington state offers about 50 tax incentives and deductions that are 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 Pacific County?

The median home value for Pacific County is $202,495. Also, the median household income for residents of the county is $44,846.

How many people live in Pacific County?

As of 2019, Pacific County’s population is 22,471, which includes about 2,372 veterans. Demographically speaking, 81% of the population is White, with 10% Hispanic and 4% Mixed Races.

What are the major cities?

The county has four cities, including the city of South Bend, which serves as the county seat. The other three cities in the county are Ilwaco, Long Beach, and Raymond.

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

You can view all of the properties available for sale in Pacific 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 Pacific County

The county was originally home to the Chinook and Chehalis Indians, who inhabited the area for hundreds of years before Europeans arrived in the area. However, once they arrived in the area, European Americans under orders from President Andrew Johnson relocated the native population to the Shoalwater Indian Reservation. Eventually, the county was established in 1851 and was named after the Pacific Ocean.

Today the county is home to a public education system that consists of six school districts. These school districts provide education for students ranging from kindergarten to 12th grade. As far as higher education is concerned, there is extension of Washington State University.

When it comes to the economy, the county’s three biggest employment industries are in the healthcare, manufacturing, and retail trade industries. Therefore, the most common occupations for residents are in the office administrative, management, and production sectors.

The county also provides several recreational opportunities with places like the Long Beach Boardwalk, Mount Spokane, Lake Sammamish, and Lake Wenatchee. All of these areas offer recreational activities like hiking trails, nature watching, and fishing opportunities. Also, the county’s parks are full of camping areas for those who enjoy the outdoors.

Furthermore, the county is home to several educational opportunities outside of school. These include the Pacific County Museum, the Peninsula Arts Center, the Bay Avenue Gallery and Liberty Theatre. Additionally, the county is also home to annual art events like the Peninsula Quilt Guild Exhibition, Art in the Park, and Chinook Arts Festival, among many others.          

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.

Pacific County approved condos

There are no FHA or VA approved condos in Pacific County, Washington. However, it is still possible to get a condo through the approval process. FedHome Loan Centers can help you in the approval process by calling (877) 432-5626.

Make your Dream a reality in Pacific County

Easily finance a home that meets all your needs with the help of FedHome Loan Centers!

Finance a great home or condo by applying for a home loan today!