Spokane, WA Mortgage Rates

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$ 3,597
The monthly payment shown is principal and interest only and doesn’t include property taxes and homeowners insurance.
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$ 3,743
The monthly payment shown is principal and interest only and doesn’t include property taxes and homeowners insurance.
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$ 3,892
The monthly payment shown is principal and interest only and doesn’t include property taxes and homeowners insurance.
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Whether you’re buying a home or ready to refinance, our professionals can help.

Live Mortgage Rate Quote Tool – Live Rates 24/7 

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 experienced Mortgage Advisors make informed decisions on what loan structure works best for their specific situation.

Current Spokane Mortgage Rates

The city of Spokane is classified as a “very hot” market as of August 2023 and boasts a median home value of roughly $386,490.  If you’re thinking about entering the Spokane market, finding the best mortgage rate should be a top concern.

Sammamish Mortgage has been serving customers in Spokane, WA since 1992 and can provide you with a competitive mortgage rate for your Spokane home. Contact one of the professionals at Sammamish Mortgage today to learn about our live mortgage rates for Spokane.

Spokane Housing Market

Located close to the eastern border of Washington State, the city of Spokane may seem like an unlikely place to experience a dramatic increase in its housing market. The market in Spokane is predicted to increase again over the course of the next year, although the size of the growth likely won’t be as large.

Still, things are looking up in eastern WA city. In terms of population, Spokane is the second largest city in the State, behind Seattle. Even though it may not receive the type of international attention which Seattle receives, there are plenty of very good reasons to consider buying a home in the city of Spokane.

Spokane boasts numerous neighborhoods of considerable charm. Neighborhoods such as Manito, Comstock, Rockwood, Garland District, and Logan. These are excellent places to settle down. Spokane also has lots of parks and opportunities for outdoor recreation; there’s Riverfront Park, Manito Park, Palisades Park, and others as well. If you need to travel westward for business or other reasons, you can jump on Interstate-90 and ride all the way to the west coast.

Spokane Mortgage Rates From Multiple Lenders

The Spokane market is experiencing rapid gains. Now may be the perfect time to enter the market. However, if you enter the Spokane market, be prepared for competition. The professionals at Sammamish Mortgage have a detailed knowledge of the ins and outs of the Spokane market and can provide expert guidance.

It’s best to compare mortgage rates from top mortgage lenders to make sure you’re being offered the most competitive mortgage rate. Even a single point reduction in interest can help you save money in the long run. Look for mortgage lenders that are willing to offer a competitive rate, and that don’t charge origination fees or other lenders fees.

We have cutting-edge software which provides instant rate quotes so you can see what sort of interest rate you may obtain. Our team of specialists can also counsel you on how to maximize your situation so you can acquire the best possible rate. Sammamish Mortgage is a family-owned mortgage company based in the Pacific Northwest since 1992. Contact us today to learn more.

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 lender 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 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.

Rates Depend on Multiple Factors

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 best interests of our clients are always met.

Loan Purpose

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.

Down Payment

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.

Loan Amount

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 best terms followed by conforming loans and select jumbo loans for really qualified borrowers or high net worth clients.

Credit Score

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 best rates available. Adjustments to the terms available for most loan programs occur in 20 point increments. For example the second best 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.

Purchase Price

The purchase price refers to the price that a buyer pays for a property.

Property Type

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 best terms when compared to other property types. Provided you put down more than 25% condos will be second best 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 best 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.

Loan Program

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.

Rate quote isn’t what you expected?

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!

Our Reviews

Aaron S.
December 1, 2023
Highly recommend utilizing Sammamish. I looked at 8 different lenders and Sammamish consistently came in with the lowest rate and we're not pushy at all. During the closing process both Sandra and Tonya were there for me the entire time. Thank you!
Brooks B.
November 28, 2023
We had a great experience working with Sammamish Mortgage. Their rates were the best by far: +50bps lower than competitors. But that's just the beginning: the quality of service consistently exceeded my expectations. Trevor was helpful, responsive, and friendly. He patiently answered all my questions, helped me evaluate tradeoffs, and supported our family in finding the right loan option. In addition, Tonya was great as our Loan Processor. We had a 3-week closing period and Sammamish Mortgage was able to meet that tight turnaround. Tonya was great throughout the process: she kept us informed, educated us about the process, and made sure everything continued to move forward. Overall, I cannot recommend Sammamish Mortgage highly enough, and will be recommending them to all my friends and family.
Vinay N.
November 21, 2023
My experience with Sammamish Mortgage has been amazing. Sandra and Jana have provided excellent customer support and help me throughout the process of my owning the house. I would highly recommend to go with Sammamish mortagage, they hands down provided the best rates in the market. Thanks for all your assistance Sammamish Team!
Krzysztof D.
November 21, 2023
Y'all are very honest people, were upfront about pricing, and were clear about what has to happen to make the loan go through.
Susan O.
November 16, 2023
This was the easiest mortgage I have ever done. Nick was a true professional and guided us through the process ensuring we were kept informed along the way. Stacey helped to smooth the financial side and ensure a clean submittal to underwriting. There were no surprises and everything came together with no hitches. The best team to work with, we highly recommend!!
Aubrey K.
November 14, 2023
Communication and promptness was fantastic! I felt that the process was very clear and easy to follow, even for a first timer. It was great how everyone took the time to understand my personal situation and concerns. Definitely feels more human than working with a large bank!
Nathaniel S.
November 8, 2023
Nick, Stacey and the rest of the team were great throughout the entire process. Cant recommend enough!

Sammamish Mortgage Can Help You with a Rate Quote

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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!

  • Sammamish Mortgage No Cost Program
  • Live Real-Time Custom Rates and Costs
  • Low Mortgage Rate Quotes and Fees
  • Detailed Cost Breakdown
  • On Time Closing
  • Transparency In All We Do
  • Unparalleled Reputation
  • Communication Is Key
  • Reduced Monthly PMI
  • Fast Appraisals
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