Finding a Mortgage Broker in Kirkland, WA

April 29, 2021
Last updated:
January 11, 2024
In This Article

If you plan to buy a home in Kirkland, WA anytime soon, then one of the first things you should do is find a mortgage broker to work with. By having a professional on your team, you can ensure that the process of applying and getting approved for a mortgage is as seamless and stress-free as possible.

But not only should you find a mortgage broker in Kirkland, but you also want to make sure that the expert you choose is right for you. Every buyer has a different financial profile and needs, so the person you choose to work with should be able to help you find a home loan that comes with terms and rates that you are comfortable with.

The Kirkland, WA housing market looks like the rest of Washington State and the country. Home prices have skyrocketed over recent months, despite the ongoing health crisis. Right now, the average home price in Kirkland, WA is $1,100,177.

That’s a 0.4% increase from the same time a year ago, as of late January 2023. Homeowners who got into the market over the past few years have had the chance to build an incredible amount of equity in their homes.

But that doesn’t mean that homebuyers of today have lost out. It’s expected that home prices in Kirkland will continue to increase throughout the rest of the year and into the next. Besides, home prices tend to appreciate over time, regardless of any dips here and there. So, if you’re looking to get into the Kirkland, WA housing market, today may be a good time to do so. And a Kirkland mortgage broker can get you started on that path.

Let’s get into more detail about why you should work with a mortgage broker in Kirkland, and how to find the best mortgage broker for you.

Live Kirkland Mortgage Rates

Why Work With a Kirkland Mortgage Broker?

There are several reasons why you will want to partner with a seasoned mortgage broker in Kirkland, WA:

Mortgage Brokers Work For You

If you go to your local bank to apply for a home loan, they will offer you the products they have available, which are limited. Plus, even though your bank may help you get financing for a home purchase, they are ultimately looking out for their best interests in the form of profits.

Instead, Kirkland mortgage brokers work for you. They are not affiliated with any particular lender. Rather, they work with a large network of lenders who have many different home loan products to offer, as well as different interest rates. As such, your mortgage broker will make sure that only the best product with ideal terms and rates are brought your way.

Mortgage Brokers Shop Around For You

Since there are so many lenders out there to work with, it can be a daunting task to pick just one who can offer you what you are looking for. Your Kirkland mortgage broker will do all the leg work on your behalf to comparison shop and find the best mortgage products and rate for you. This can save you a lot of time and hassle, and help you avoid being stuck with the limited options provided to you by the bank.

Mortgage Brokers Will Negotiate For You

Just because a lender may post a specific mortgage interest rate doesn’t mean that there isn’t any room to negotiate a lower rate. Your mortgage broker in Kirkland will wheel and deal with lenders to get the lowest rate possible. While the rate you get depends largely on your financial health, there may still be some wiggle room to get a lower rate, which can help save you thousands of dollars over the life of your loan.

Mortgage Brokers Do Not Charge You For Their Services

While the mortgage broker is doing a lot of work behind the scenes to help you secure a mortgage, you don’t have to pay them out-of-pocket for their services. Instead, mortgage brokers are paid by commissions from the lenders that end up getting the client.

The mortgage broker’s fees are paid by the lender when the borrower secures their mortgage. That said, the mortgage broker will still have to disclose their fees to you upfront so there are no surprises when all is said and done.

How to Find the Best Kirkland Mortgage Broker

Here are a few tips to contemplate when searching for the best mortgage broker in Kirkland for you to work with, such as the following.

Ask Your Friends and Family

If you know anyone who has recently secured a mortgage to buy a home in Kirkland, consider asking them who they worked with and what their experience was like.

Check Out Online Reviews

Google and other review sites like Yelp or Angie’s List may post reviews from previous clients of various mortgage brokers in Kirkland. Just be sure to read as many reviews as possible to get a general overview of the broker, rather than just focusing on only a handful of reviews.

Boost Your Financial Profile

The better your financial health, the better the odds of having more mortgage products with more favorable terms and rates available to you. That means saving up for a sizable down payment, paying down your debts, and boosting your credit score. All these factors will play a role in your ability to secure a mortgage at a lower rate.

Ask Many Questions

You’ll get a good sense of what a mortgage broker is like to work with when you ask questions, such as the following:

  • What mortgage products are available to me?
  • How big should my down payment be?
  • What types of down payment assistance programs are available to me?
  • What are the closing costs?
  • Which mortgage product would be best for me?
  • What mortgage interest rate can I get approved for?
  • What are all the fees involved?
  • How long will it take for my home loan to close?
  • What will the lines of communication be like?

Loan Limits

When you apply for a home loan, there is a limit to how much you can borrow based on type of mortgage you’re taking out and the county that you are buying your home in. If the loan amount you apply for exceeds this limit, the loan will be considered a “jumbo loan.”

Both conventional and FHA loans have their own specific loan limits that are modified every year to reflect the rise in home prices.

For VA loans, loan limits were eliminated in 2020. But some borrowers may still have to comply with loan limits if they have an active VA loan or a previous default on a VA loan.

Check out our mortgage loan limit tool for conventional, FHA, and VA loans.

Get an Instant Mortgage Rate Quote Today

Need a Kirkland Mortgage Broker to Buy a Home?

If you need the assistance of an experienced mortgage professional in Kirkland, Sammamish Mortgage can help. We are a local, family-owned company based in Bellevue, Washington. We serve the entire state, as well as the broader Pacific Northwest region that includes Washington, Colorado, California, and Oregon. We offer a wide variety of mortgage programs and products with flexible qualification criteria, and have been doing so since 1992. Please contact us if you have mortgage-related questions.

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