Lewis 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
Lewis Real Estate Market Update
The real estate market in Lewis County, Washington, has seen some fluctuations in 2024. The median sale price for homes in the county is approximately $423,000, reflecting a decrease of 6.8% compared to the previous year. However, the median home sold price in October 2024 was $404,146, which is a slight increase of 1.3% from the previous year.
Lewis County is home to several notable cities, including Centralia and Chehalis. Centralia, with a population of about 17,000, is known for its historic downtown and vibrant community events. Chehalis, the county seat, has a population of approximately 7,500 and offers a mix of small-town charm and modern amenities. These cities serve as central hubs for commerce and culture in the county.
Living in Lewis County offers a blend of rural and suburban experiences. The county is characterized by its agricultural landscape, with farming and forestry being significant industries. Many residents enjoy the quiet, rural lifestyle, while others appreciate the suburban conveniences available in the larger towns. The county attracts individuals seeking a slower pace of life, affordable housing, and a strong sense of community. Migration patterns suggest people are moving to Lewis County for its natural beauty, lower cost of living, and opportunities in agriculture and forestry.
2025 Mortgage Loan Limits:
Lewis County, Washington
1 Unit
$806,500
Conforming Loans
$524,225
FHA Loans
2 Unit
$1,032,650
Conforming Loans
$671,200
FHA Loans
3 Unit
$1,248,150
Conforming Loans
$811,275
FHA Loans
4 Unit
$1,551,250
Conforming Loans
$1,008,300
FHA Loans
Questions About Refinancing in
Lewis 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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