Competitive Vancouver Mortgage Rates
Located right on the border of Oregon, the city of Vancouver, WA has a strong real estate market and is expected to experience gains in the near future. Now may be a great time to enter the Vancouver market. If you’re going to obtain a mortgage for your Vancouver home, finding the best mortgage rate is highly important. This is because low rates translate into big savings.
The Rise of the Vancouver Market in WA State
Located just north of the Washington State border with Oregon, the city of Vancouver has experienced impressive growth in its real estate market in recent years. Slowly and steadily, Vancouver has attracted more and more attention from prospective WA State buyers. As of January 2022, the market in Vancouver has climbed to $475,065.
The market here is currently considered to be a “warm” market, which means that buyers shouldn’t be surprised if they end up paying a bit above the original asking price on a given property. There are plenty of reasons as to why the market in Vancouver has improved in recent years. Vancouver’s neighborhoods, parks, schools, and outdoor recreational opportunities are a few of these reasons.
As for neighborhoods, Vancouver has a bunch of attractive areas such as Lake Shore, Minnehaha, Orchards, Barberton, Mill Pain, and Five Corners, among others. As for parks, there’s Salmon Creek Regional Park, Vancouver Lake Regional Park, and Wintler Community Park. If you need to head either north or south, Interstate-5 runs right through the city, and so you can commute to Portland or take a road trip to Seattle, as you please. The perks of Vancouver are a bit part of its attraction to buyers. We can look ahead to more and more growth in this market.
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.
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.