Call Us Today! (425) 401-8787
Call Us Today! (425) 401-8787
Frequently Asked Questions
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The quality and volume of loans we have originated over the years has enabled us to form great relationships with our lending sources, resulting in premium pricing, which we are able to pass on to you the consumer. We do not have a team of loan officers that require us to pay out large commissions, but instead have a core group of loan professionals that do not receive additional compensation for placing our clients into higher rate loans like many of our competitors.
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Yes. The total closing costs shown include all lender fees and third party costs including our compensation.
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Yes. At the time of your pre-approval, we can guarantee all the fees associated with your loan. The only exception to this may be caused by your appraised value. Your costs may change if your appraised value comes in lower than expected or if you decide to change your loan amount, as your loan to value is a key factor in pricing your loan.
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Sammamish Mortgage can offer loans with no points, no origination fees and no mortgage broker fees by earning a Yield Spread Premium (YSP) from the lender we choose for your loan. A Yield Spread Premium is a rebate that the lender pays to us as our compensation and is not a cost you have to pay. We are able to earn a Yield Spread Premium by offering a slightly higher rate. In return, we can lower or eliminate your up front points, origination fees and/or mortgage broker fees.
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Choosing a loan that pays a Yield Spread Premium generally benefits the borrower for the first 4 to 7 years of the loan. This is because you can exchange lower up front closing costs for a slightly higher interest rate and monthly payment. This is a great option for people that do not have excess liquid cash or emergency funds and people that are not sure how long they are planning on keeping the loan. Since most people either refinance or sell their home every 3 to 5 years, this plan can be of great value.
X close
The following are a few factors that can affect your interest rate: your credit score, loan to value (LTV), rate and term refinance vs. cash out refinance, purchase vs. refinance, property type, escrow reserves and loan amount. Please see the FAQ's page for a more detailed explanation.
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Your answers to the following questions will help you determine whether or not it would be beneficial for you to buy down your rate:
How long do I plan on owning the property?
How much cash will it cost to buy down the interest rate?
How much money will I save per month?
X close
If rates are higher at the time your rate lock expires, an example of extension costs are as follows:
7 days = .125 Pts
15 days = .25 Pts
30 days = .5 Pts
The extension policies may vary depending on the lender we select for your loan, but the majority of the lenders follow the guidelines listed above.
X close
All of our lenders have different renegotiation policies; however, generally if the rate drops more than .375% you will be eligible for a renegotiation. The lender may charge a renegotiation fee ranging between .375-.625 points or .125-.25% in rate. You can discuss your specific lender's policy with your loan specialist when you make the decision to lock.
X close
You will not have a prepayment penalty on any of the loans we offer except for a few Jumbo programs. You can pay off all or part of your loan and refinance at anytime without penalty. If you select one of the few Jumbo programs that do have a prepayment penalty, your loan specialist will explain the specific lender guidelines for the product in advance.
X close
Technology has enabled us the ability to work seamlessly with our clients that do not live within the vicinity of our office. For the majority of our clients, face to face meetings are not necessary; however, if you would like to meet us in person, you can always schedule an appointment to visit us at our office in Bellevue, WA.
Frequently Asked Questions
X close
The quality and volume of loans we have originated over the years has enabled us to form great relationships with our lending sources, resulting in premium pricing, which we are able to pass on to you the consumer. We do not have a team of loan officers that require us to pay out large commissions, but instead have a core group of loan professionals that do not receive additional compensation for placing our clients into higher rate loans like many of our competitors.
X close
Yes. The total closing costs shown include all lender fees and third party costs including our compensation.
X close
Yes. At the time of your pre-approval, we can guarantee all the fees associated with your loan. The only exception to this may be caused by your appraised value. Your costs may change if your appraised value comes in lower than expected or if you decide to change your loan amount, as your loan to value is a key factor in pricing your loan.
X close
Sammamish Mortgage can offer loans with no points, no origination fees and no mortgage broker fees by earning a Yield Spread Premium (YSP) from the lender we choose for your loan. A Yield Spread Premium is a rebate that the lender pays to us as our compensation and is not a cost you have to pay. We are able to earn a Yield Spread Premium by offering a slightly higher rate. In return, we can lower or eliminate your up front points, origination fees and/or mortgage broker fees.
X close
Choosing a loan that pays a Yield Spread Premium generally benefits the borrower for the first 4 to 7 years of the loan. This is because you can exchange lower up front closing costs for a slightly higher interest rate and monthly payment. This is a great option for people that do not have excess liquid cash or emergency funds and people that are not sure how long they are planning on keeping the loan. Since most people either refinance or sell their home every 3 to 5 years, this plan can be of great value.
X close
The following are a few factors that can affect your interest rate: your credit score, loan to value (LTV), rate and term refinance vs. cash out refinance, purchase vs. refinance, property type, escrow reserves and loan amount. Please see the FAQ's page for a more detailed explanation.
X close
Your answers to the following questions will help you determine whether or not it would be beneficial for you to buy down your rate:
How long do I plan on owning the property?
How much cash will it cost to buy down the interest rate?
How much money will I save per month?
X close
If rates are higher at the time your rate lock expires, an example of extension costs are as follows:
7 days = .125 Pts
15 days = .25 Pts
30 days = .5 Pts
The extension policies may vary depending on the lender we select for your loan, but the majority of the lenders follow the guidelines listed above.
X close
All of our lenders have different renegotiation policies; however, generally if the rate drops more than .375% you will be eligible for a renegotiation. The lender may charge a renegotiation fee ranging between .375-.625 points or .125-.25% in rate. You can discuss your specific lender's policy with your loan specialist when you make the decision to lock.
X close
You will not have a prepayment penalty on any of the loans we offer except for a few Jumbo programs. You can pay off all or part of your loan and refinance at anytime without penalty. If you select one of the few Jumbo programs that do have a prepayment penalty, your loan specialist will explain the specific lender guidelines for the product in advance.
X close
Technology has enabled us the ability to work seamlessly with our clients that do not live within the vicinity of our office. For the majority of our clients, face to face meetings are not necessary; however, if you would like to meet us in person, you can always schedule an appointment to visit us at our office in Bellevue, WA.

Instant Rate Quote
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Instant Rate Quote
                   Get Rates Now!

Calculators

From our Seattle mortgage calculator to our loan amortization calculator, we’ve put together all the mortgage rate calculators you need to make an informed home loan decision. So whether you need help deciding if you should rent or buy, refinance or not, or if it’s wise to consolidate all of your debt, check out our home mortgage calculators to get started.

Our selection of home mortgage calculators can give you a full understanding about how we make decisions considering your home mortgage loan at Sammamish Mortgage. Our experts regularly use the same parameters you will find within these different calculators to help our clients make informed decisions about their mortgage loans.

What Will My Mortgage Payment Be?
The mortgage rate calculators available at Sammamish mortgage will help you find out what your payment will be.

Mortgage Loan Amortization Calculator
The amortization calculator from Sammamish mortgage will help you figure out how much your principal will decrease over the life of your loan.

Mortgage Affordability Calculator
How much of a mortgage payment can you afford based on your current household income and expenses? – Use the Sammamish Mortgage affordability calculator to find out.

Minimum Income Calculator - How Much Income Do I Need to Qualify?

If you know the house you want to buy and are unsure whether you can qualify for the loan, Sammamish mortgage offers a minimum income calculator to help you figure it out.

Mortgage Principal Calculator
Our mortgage principal calculator can help you break down what your principal and interest balances will be after each mortgage payment.

Interest Only Loan Payment Calculator
As the life of your interest only loan progresses you will want to keep up with what to expect your monthly payments to be. Our interest only loan payment calculator can help.

Should I Buy or Rent Calculator
Thinking of buying or renting in the Seattle, Washington, area? This tool breaks down the total cost to rent against the total cost to own.

Debt Consolidation Calculator
Discover how long it would take to pay off a consolidated loan compared to making your current monthly payments.

Should I Pay Extra on My Mortgage Each Month?
This mortgage calculator determines how much interest savings you accumulate based on how much extra you pay each month.

Should I Pay Points on My Loan?
Find out if it's advantageous to pay points on your home loan.

Refinance Calculator
Looking to refinance in the Seattle or greater Washington State area? Calculate the cost and savings right here.

Real Estate Calculator - What Are the Benefits of Buying in Washington State?
These home mortgage calculators provide an estimate for the tax benefits of buying real estate.

ARM APR Calculator
Our APR ARM loan calculator will estimate the APR on your adjustable rate mortgage.

Fixed Interest Rate APR Calculator
Determine the APR on a fixed rate mortgage loan with the parameters you set with this home mortgage calculator.

ARM Payment Calculator
Discover the estimated payments you’d make with an adjustable rate mortgage.

 
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