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Tips on Finding a Local Mortgage Lender in Redmond, WA

Sammamish Mortgage
November 5, 2020
Last updated:
February 26, 2021
Tips on Finding a Local Mortgage Lender in Redmond wa

Considering a home purchase in Redmond, WA? If so, you need to find a reputable local mortgage lender, so you can successfully handle the home buying process and close on your dream home sooner rather than later.

In This Article

When buying a home and applying for a mortgage loan,  you cannot work with just anybody. Rather, if you want to find the best interest rate,  have superior lending assistance, and purchase the home of your dreams, then it all starts with finding the best lender for your financial situation.

Like many complicated processes, the best way to start is with a clear plan in place. Here, then, you should first determine what your home goals are, make a checklist to help you traverse the lender shopping process, and get ready to do some research. That said, in Redmond, many homebuyers often start their lender search online, which helps save time and reduces the hassle of having to find a lender in-person, especially now.

It is highly recommended that you start your search for a Redmond mortgage lender online and long before you start house hunting. You want to have enough time to thoroughly vet a few different lenders and their available loan products. The nice thing here is, most online lenders provide a checklist specific to their unique process, which makes lender shopping less complicated. Thus, to help make searching for the right lender even easier, here are 7 tips for finding a local mortgage lender in Redmond, WA.

1. Prioritize researching lender options and rates to find what’s best for you.

There are different mortgage programs for each category, which means loan programs and rates will likely vary.  For instance, if you are looking for a vacation/second home, the programs available to you will look slightly different from the loan products available for first-time buyers considering contemporary homes near popular school districts. Nevertheless, since you have already figured out what your home buying goals are, you should be able to clearly select the mortgage programs that are applicable to your situation and your current finances.

2. Evaluate which type of mortgage lender is right for you

Regardless of whether you are a first-time homebuyer or a seasoned real estate investor, you should make it a point to prioritize researching local lenders and what they have to offer. At the moment, Redmond, WA has it all including, wonderful starter homes in the low $90,000s, contemporary single-family homes for roughly $425,000, and stunning estates that easily go for $6,500,000+.  As a result, you need to work with a lender that can navigate such a market and help you secure the financing you need.

Moreover, while you are at it, you should try to get a feel for your potential lenders’ level of customer service. This can easily be done by paying attention to third-party website reviews. This will help you get a sense of the individual lender and their support staff.  While there are many online lenders, it is important to choose a company that gives you the support and service that you will need during this challenging process. Consequently, you should look for online mortgage lenders with an established presence and reputation.

Live Redmond Mortgage Rates Jun, 24, Thu, 2021

3. Avoid shiny object syndrome

Yet, another important thing to keep in mind while browsing potential online Redmond lenders and their mortgage rates is if it looks too good to be true, chances are it is. Often the “headline” interest rates and the “as low as” rates you see advertised online are purposefully enticing. Usually, sites that show these rates generate leads for lenders who will actually offer you a different rate after they have had a chance to learn about your financial background. Regardless of what you see, at the end of the day, your interest rate and terms will be determined by your credit score and financial situation. Note, if you’ve had credit issues in the past, and you see an online offer at a very low rate, make sure you read the fine print.

4. Know your credit score and Gather the Necessary Documentation

Speaking of credit scores and personal finances, you should have a good idea of yours while you are searching for the best and the brightest Redmond lenders. If you do not know what your credit score is or you have never pulled your official report, you can access your credit report, without charge, one time per year at

Along those same lines, now is a great time to get all the necessary documentation together. You can get the ball rolling on the entire home buying process by scanning your financial documents and saving them on your computer in a PDF file.  You should locate and scan:  the past two years’ tax returns, most recent 401(k) or investment statement, two months of pay stubs, and three months of your bank statements. Ultimately, when you narrow down your lender options, you will be ready to move forward with the right lender asap, which will speed up the entire home purchasing process.

5. Utilizing Online Lenders

Comparing mortgage rates and fees is becoming easier and easier for a consumer as lenders openly post real-time rates. As briefly mentioned, online lending has made the home buying process less time consuming and more convenient.  Borrowers can now submit documents online and personally track the loan process. Furthermore, you can quickly access verifiable information, compare programs and fees, as well as interest rates offered by each company. Thus, if you stumble upon a reputable online lender in Redmond who can provide you with all these things and more, then they should definitely make it onto your shortlist.

6. Seek a referral

Of course, it also never hurts to ask around.  So, make it a point to speak with friends, family, or your co-workers. They may be able to provide with a great referral.  Additionally, another good resource for finding an experienced local lender is your real estate agent. More often than not, your agent can help you navigate home buying issues, as well as steer you in the right direction when it comes to local mortgage lenders. This is especially true since agents typically work with lenders on a weekly, if not daily basis.

7. Consider a mortgage broker if you’re willing to spend a little more to save time

Ideally, you should be scrutinizing the reputation and qualifications of potential lenders and brokers, especially if you are hard-pressed on time. This way, if you would prefer someone else to take charge of your search, then you should consider a mortgage broker. A local broker can help with the more technical side of things. For instance, a broker can help to pinpoint which Redmond lender specializes in down payment assistance programs, what lender is transparent and upfront about additional fees, or who has the best skillset for working with Redmond homebuyers in the current seller’s market.

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Why Choose Sammamish Mortgage?

At Sammamish Mortgage, we strive for a personalized experience for each mortgage applicant. That’s why we employ a full staff of experienced mortgage loan officers, transaction coordinators, processors, and funders.

Mortgage loan processing is all we do, so every member of our team is highly experienced. If your personal loan officer is out for the day, or it’s the weekend, and you need to talk to someone about your loan, someone will be available to you.

Sammamish Mortgage has been in business since 1992 and has assisted many homebuyers in the Pacific Northwest. If you are looking for mortgage financing in Redmond, WA, we can help. Sammamish Mortgage offers great mortgage programs for Redmond and its surrounding eight neighborhoods, including Grass Lawn, Education Hill, and Idylwood.

Contact us if you have any mortgage-related questions or concerns. If you are ready to move forward, you can view rates, obtain a customized instant rate quote, or apply instantly directly from our website.

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