Current Seattle Mortgage Rates
With a median home value of approximately $888,202 as of January 2022, the city of Seattle has seen significant increases in its real estate market in recent years. Right now could be an excellent time to become a homeowner in the Seattle area.
If you’re planning to obtain financing, and you’re considering the Seattle market, Sammamish Mortgage can be of assistance. We’ve been serving customers in Seattle since 1992, and provide highly competitive mortgage rates for home buyers. If you’re like to learn more, contact Sammamish Mortgage today and we can get you a current mortgage rate quote right away.
Maximize Mortgage Rates in Seattle, Washington
Seattle’s real estate market has grown significantly in recent years. This is because Seattle offers many valuable things to local residents, including dozens of highly desirable neighborhoods. Areas such as Ballard, Crown Hill, Fremont, Queen Anne, Magnolia, and Capitol Hill are widely known as attractive living spots. Seattle also hosts a number of prominent employers, such as Amazon and Google, which draw in talented professionals from all over the country.
The desirability of Seattle has had an unexpected side effect: Seattle’s home prices have gone up and up, and this has made homeownership a bigger hurdle to overcome for many would-be buyers. Obtaining a good interest rate on a Seattle mortgage loan can be essential if you’re planning to buy a home in Seattle. This means you need to maximize the various factors which contribute toward your mortgage interest rate. Knowing what current rates mortgage lenders are offering for home loans can help.
Worried About Your Credit Score?
If you’re not sure what your credit score is, we’ll still provide accurate Seattle, Washington, mortgage rates based on your provided data. We always encourage borrowers who aren’t sure what their credit report contains to request the free copies provided by each credit bureau annually, so you don’t run into surprises.
However, don’t give up hope if your credit isn’t perfect: there are plenty of loan programs available for borrowers with less than perfect credit, even if you have to pay a slightly higher interest percentage rate. You won’t know what offer you could receive unless you check out your rate. We make it easy by giving you a free tool to get an accurate quote without providing personal information, and it only takes a few seconds of your time!
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.
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.