WA State Mortgage Rates

Current Washington State Mortgage Rates

Sammamish Mortgage provides current mortgage rates for Washington State. We can provide you with a localized quote for whichever Washington State city you’re planning to purchase in. Rates depend on a variety of factors, including debt-to-income ratio, credit history, employment history, and others as well.

To optimize your rate, you will want to make sure that these factors are in the best shape possible. Sammamish Mortgage provides competitive mortgage rates for homebuyers in the Pacific Northwest. If you’re planning to buy in Washington State, and need a mortgage loan, contact Sammamish Mortgage today for a free rate quote

The Growth of the Washington Real Estate Market

The real estate market in the State of Washington has grown by leaps and bounds in recent years. On a statewide level, Washington has a median home value of approximately $578,460 as of August  2023.

Zillow currently classifies the State of Washington as a “hot” market, which means that buyers are likely to encounter competing for offers when they attempt to buy a Washington home. It also means that buyers may end up paying a bit more than the original asking price.

The statewide median doesn’t tell the full story about how Washington State has grown in terms of real estate. Certain areas within Seattle have experienced great growth; some markets, such as Seattle and Bellevue, have seen huge growth and are now among the more desirable markets in the country.

The appeal of Washington is clear to nearly everyone who has visited the state. Washington has some gorgeous sites, including Mount Rainier, Mount St. Helens, and Olympic National Park. Washington is home to many big companies that offer excellent employment opportunities to professionals, such as Microsoft, Amazon, and Google. The WA State housing market has become a top spot for potential buyers. Now is a great time to consider buying a home in the region.

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 lenders 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.

Why Sammamish?

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.

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 pre-approval directly from our website.