Bellingham Mortgage Rates
Located just south of the Canadian border, the city of Bellingham has long attracted attention as the home of Western Washington University. In recent years, the city has experienced considerable growth in its real estate market. As of August 2023, Bellingham boasts a median home value of approximately $635,981. This figure is impressive considering the fact that Bellingham’s population is only about 90,000.
The Bellingham market is expected to grow over the upcoming year. The rise of the Bellingham real estate market can be explained at least in part as a result of its scenic beauty and outdoor attractions. Part of Lake Whatcom runs through the city; there’s also the Bellingham Bay, Lake Padden Park, Larrabee State Park, and Whatcom Falls Park.
In addition to plenty of outdoor activities and scenery, Bellingham has a number of neighborhoods that are notable for their high quality homes and safety. Some of these neighborhoods include Sehome, Columbia, Alabama Hill, Larson Mill, Happy Valley, and others.
If you’re looking for a home in Bellingham, you can’t go wrong with a home in one of these top-quality neighborhoods. Potential buyers should also be concerned about mortgage rates for their Bellingham home. And that’s where Sammamish Mortgage, a family-owned mortgage company, comes into play.
Understanding Your Quote and Percentage Rate
Your rate quote is based on a variety of factors (including your credit score, down payment, and purchase price) and delivers the most accurate results possible based on your inputs.
- Detailed costs breakdown: Click on the “view” tab under “details” to see an itemized list of all estimated costs.
- Rate & APR: Your rate is the anticipated interest rate. The APR is the total cost of your loan, expressed as an annual percentage rate.
- Origination charges: Sammamish Mortgage doesn’t charge industry-standard lender fees, so the amount for “origination fee” will typically be zero.
- Discount points: You can buy “points” by paying an amount for each point equal to 1% of the purchase price, and lower your interest rate by up to a quarter of a percent for each point purchased.
- Monthly mortgage payment: This includes the principal and interest included in your base monthly payment.
- Estimated third-party charges: This includes the wide range of fees included in your closing costs.
- Closing costs: The closing cost total listed includes everything except prepaid items such as property taxes, homeowner’s insurance, and daily interest.
- Private mortgage insurance premiums: PMI is required on loan to value (LTV) ratios over 80% (except on VA loans). We offer reduced PMI options with as little as 3% down.
- Rate locks: We can lock your rate from 30 up to 180 days.
One of the big advantages of applying for mortgage rate quotes and preapproval through Sammamish Mortgage is that we charge none of the traditional lender fees added by mortgage brokers.
We also pay our Loan Officers a salary instead of a commission based on the loan amount, so they are motivated to help you find the best home loan, not just sell you the biggest loan.
If you are ready to move forward, you can view rates, obtain a customized quote using our Instant Rate Quote tool, or apply for preapproval directly from our website.