Whitman 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
Whitman Real Estate Market Update
Whitman County, Washington, has a dynamic real estate market with a median listing home price of $415,000 as of October 2024, reflecting a 3.9% increase from the previous year. The median home sold price is slightly lower at $340,000, indicating a buyer's market where homes sell for about 2.26% below the asking price.
The county's largest city is Pullman, with a population of approximately 32,855, followed by Colfax, which has about 2,766 residents. Other notable cities include Palouse with 1,014 people and Tekoa with 808 residents.
Whitman County offers a blend of rural and suburban living, characterized by its strong agricultural base. It is the largest wheat producer in the state and also leads in the production of barley, lentils, and dry peas. The presence of Washington State University in Pullman contributes to the county's educational employment sector. People are drawn to Whitman County for its agricultural opportunities and the suburban lifestyle offered in cities like Pullman, which provides a mix of educational and rural community living.
2025 Mortgage Loan Limits:
Whitman County, Washington
1 Unit
$806,500
Conforming Loans
$579,600
FHA Loans
2 Unit
$1,032,650
Conforming Loans
$742,000
FHA Loans
3 Unit
$1,248,150
Conforming Loans
$896,900
FHA Loans
4 Unit
$1,551,250
Conforming Loans
$1,114,650
FHA Loans
Questions About Refinancing in
Whitman 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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