The Washington State Department of Financial Institutions regulates and issues licenses to all mortgage brokers who practice within the state of Washington. Acting as a broker without a valid license is illegal in Washington. In addition to paying applicable fees, all brokers must provide a Surety Bond ranging from $20,000 to $60,000 (depending upon the Director’s discretion). While there are no specific educational requirements for those wishing to obtain a brokerage license, all brokers must enroll in continuing education classes regularly. Brokers do not have to have a physical office in Washington, though a physical office must exist within 30 miles of the Washington state line.
Some consumers may benefit from various Washington assistance programs. First-time buyers, low-income buyers, seniors, and veterans may qualify for special mortgage rates. The best way to determine whether or not you will qualify for these rates is to speak with a mortgage broker. By speaking with a number of different brokers, an optimal mortgage rate can be obtained. Below, you will find a number of licensed brokers listed according to location. To begin your mortgage search, simply click on the location nearest to you. Finding a reputable broker who you can rely on is as easy as contacting any broker listed on our site. |
