Whether you’re buying a home or ready to refinance, our professionals can help.
Over 15 years ago we decided to be one of the first mortgage companies to allow our clients to get rates and costs online with our online rate quote tool. This transparency has helped us build trust with our clients and empowered them to take control of the mortgage process and with guidance from our highly experienced Mortgage Advisors make informed decisions on what loan structure works right for their specific situation.
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 March 2025, Bellingham boasts a median home value of approximately $643,877. 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.
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.
One of the big advantages of applying for mortgage rate quotes and pre-approval through Sammamish Mortgage is that we charge none of the traditional lender fees added by mortgage brokers.
Our Loan Officers are motivated to help you find the best home loan in Bellingham, WA, 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 pre-approval directly from our website.
Sammamish Mortgage makes use of an innovative software platform that provides you with an instant rate quote. The system does this by comparing multiple lenders and investors from across the US, providing real-time results. All you need to do to get your rate quote is to input a few pieces of information, and within seconds, you’ll receive an accurate breakdown of the interest rates and costs available for you. You won’t have to supply any personal information to obtain this data, either. The mortgage experts at Sammamish Mortgage always work to ensure that the premier interests of our clients are always met.
The term “loan purpose” is used in the mortgage industry in the US to describe the reason why an applicant is looking to apply for a loan. The lender will use the purpose of the loan to make decisions on the risk level of the borrower. The loan purpose could also affect the interest rate offered by the lender. The most common examples include purchase, rate/term refinance (no cash-out refinance) and cash-out refinance.
The down payment refers to the equity amount that the buyer puts towards the purchase price of a home. For instance, a home being purchased for $500,000 with a $100,000 down payment means the buyer will have 20% equity in the new home. In general a larger down payment results in better rates and closing costs for your loan. Down payments below 20% usually require some form of mortgage insurance which would be an added cost to you. The exception is for VA financing.
This term refers to the amount that the borrower must pay back to the lender as stipulated in the loan contract. The loan amount is one of the main factors in determining what rate and loan program you’ll be eligible for. For the most common loan programs such as conforming or FHA financing there are loan limits. Anything above those limits results in a borrower being ineligible for that program and subject to different rates and fees. In general VA loans have the most competitive terms followed by conforming loans and select jumbo loans for really qualified borrowers or high net worth clients.
A credit score is a numerical figure that expresses the creditworthiness of a consumer. A higher credit score is better when it comes to taking out a loan, as it reduces the lender’s risk when loaning out funds. A credit score is affected by repayment history, number and age of open accounts, total debt levels, and credit utilization. Credit is a key deciding factor in determining what rates and costs you’re eligible for. High credit scores over 740 will get you the great rates available. Adjustments to the terms available for most loan programs occur in 20 point increments. For example the second leading credit score range would be 720-739, then 700-719 and so on. Once your scores drop below 640 the programs you will qualify for will be severely limited.
The purchase price refers to the price that a buyer pays for a property.
Property type refers to the characteristics and configuration of a dwelling. For instance, detached homes, townhomes, and condos are all examples of different property types. Single Family Home will have the most competitive terms when compared to other property types. Provided you put down more than 25% condos will be second leading followed by multi-family 1-4 units. Properties like co-ops and manufactured homes will usually have higher rates and it will be more difficult to find lenders that will accept those property types.
Occupancy refers to the status of the people living in a home. For example, a home may be occupied by the owners, or by tenants who pay the owner rent in exchange for the right to live in the home. Owner Occupied homes will have the great rates followed by second homes (vacation homes that are not rented) and investment properties which include any property that does not fit the classification of a primary residence or second home. This includes rental properties, homes a family member occupies for free or a speculative property that is vacant.
A loan program or loan type refers to the type of loan being taken out to finance the purchase of a property. In the US, common mortgage loan programs include fixed-rate mortgages, variable-rate mortgages, conforming loans, FHA loans, and VA loans. Fixed-rate loans can come with different terms such as a 30 year fixed, 20 year or 15 year fixed. ARM’s or adjustable rate mortgages are usually fixed for a specified period of time and then adjust annually after the initial fixed rate period.
If your instant rate quote isn’t what you expected, we can provide counsel on how to potentially transform your quote into something more acceptable. Sammamish Mortgage is a family-owned mortgage company with over 30 years of experience in the industry. We proudly serve customers in the Pacific Northwest region. We serve WA, ID, OR, CO and CA. If you’re looking to buy a home in one of these states, we can help!
We proudly serve customers in the Pacific Northwest region. We serve WA, ID, OR, CO & CA. If you’re looking to buy a home in one of these states, we can help!
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