Kitsap County, Washington
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1 Platform, 6 Refinance Alerts
01
Alert for Lower Rates
02
Alert for Cash Out
03
Alert for Shorter Term
04
Alert for Eliminating PMI
05
Alert for Product Changes
06
Alert for Changes in Home Value
Kitsap Real Estate Market Update
In Kitsap County, Washington, the real estate market is experiencing a slight upward trend. As of October 2024, the median listing home price is $609,900, reflecting a 1.8% increase from the previous year. The median price per square foot stands at $307, and homes are selling for a median price of $570,000, indicating a competitive seller's market.
The county is home to several prominent cities, including Bremerton, Port Orchard, Bainbridge Island, and Poulsbo. Bremerton, with a median home price of $480,000, is known for its affordability and vibrant community. Port Orchard offers a median home price of $600,000, while Bainbridge Island is the most expensive, with a median price of $1.4 million. Poulsbo, known for its charming atmosphere, has a median home price of $768,000.
Living in Kitsap County offers a mix of rural and suburban experiences. The county features picturesque landscapes, with opportunities for farming and agriculture alongside suburban life. Major industries include defense, healthcare, and education, attracting a diverse workforce. The county's proximity to Seattle and its natural beauty make it an appealing destination for those seeking a balance between career opportunities and a serene living environment.
2025 Mortgage Loan Limits:
Kitsap County, Washington
1 Unit
$806,500
Conforming Loans
$575,000
FHA Loans
2 Unit
$1,032,650
Conforming Loans
$736,100
FHA Loans
3 Unit
$1,248,150
Conforming Loans
$889,800
FHA Loans
4 Unit
$1,551,250
Conforming Loans
$1,105,800
FHA Loans
Questions About Refinancing in
Kitsap County
What is mortgage refinancing?
Refinancing is the process of replacing your current mortgage with a new one, often to secure a lower interest rate or change the loan terms.When should I consider refinancing?
Consider refinancing when interest rates drop, your credit score improves, or you want to switch from an adjustable-rate to a fixed-rate mortgage.How much does it cost to refinance?
Refinancing costs typically range from 2% to 5% of the loan amount, including closing fees, appraisal, and title fees.How long does the refinancing process take?
The refinancing process usually takes between 30 to 45 days, but this can vary based on lender efficiency and document preparation.What are the benefits of refinancing?
Refinancing can lower your monthly payments, reduce interest rates, shorten loan terms, or allow you to tap into home equity.What is cash-out refinancing?
Cash-out refinancing allows you to take out a new loan for more than your current mortgage balance and receive the difference in cash.Will refinancing hurt my credit?
Refinancing may cause a temporary dip in your credit score due to the hard inquiry, but the impact is usually minor and short-term.Can I refinance with bad credit?
It may be harder to qualify, but some lenders offer refinancing options for people with lower credit scores, though they often come with higher interest rates.How much equity do I need to refinance?
Most lenders require you to have at least 20% equity in your home to qualify for refinancing, though some programs may allow for lower equity percentages.Is it possible to refinance a rental property?
Yes, you can refinance an investment or rental property, though the terms and interest rates may be different compared to refinancing a primary residence.
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