Whether you’re buying a home or ready to refinance, our professionals can help.
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 highly experienced Mortgage Advisors make informed decisions on what loan structure works best for their specific situation.
Owning a home in the city of Kirkland, WA comes with plenty of perks. There are many sites and attractions in this city that draw in potential home buyers. This explains why the Kirkland market has gone up in terms of median home value in recent years. As of January 2024, the city of Kirkland has a median home value of approximately $1,102,449. That’s higher than the city of Seattle! Much of this increase in value can be explained by Kirkland’s good location.
Kirkland is situated right alongside Lake Washington to the west and is just south of Juanita Beach Park. Kirkland has several highly attractive parks near its downtown area, including Heritage Park and Waverly Beach Park. Crestwoods Park Athletic Fields provides residents with ample space for recreational activity.
The numerous neighborhoods of Kirkland – Moss Bay, Everest, Norkirk, Highlands – offer modern, upscale homes that are functionally sound and pleasing to the eye. The many perks of the Kirkland area make it simple to understand why this city has jumped so far in value.
No matter what your reason may be for entering the Kirkland market, now is the time to inquire about mortgage rates for a Kirkland home. The mortgage professionals at Sammamish Mortgage have an in-depth knowledge of the Kirkland real estate market and can provide you with expert guidance on the home buying process.
Our home loan specialists can help you understand the ins and outs of buying a Kirkland home and provide you with a personalized rate quote in double-quick time, and our instant tool delivers fast mortgage rates without requiring personal information – not even an email.
You can compare mortgage rates in Kirkland across multiple mortgage lenders, and then compare additional costs and lenders fees from offers with the same interest rate to find the differences.
The rate for your Kirkland, Washington mortgage impacts your monthly payment amount and what you pay in interest over the term of the home loan, so getting the best deal is critical. Not all loan programs are created equal, so having the help of professional loan officers is key to getting the right advice for your specific situation.
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.
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.
Our Loan Officers 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.
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.
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.
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.
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.
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.
The purchase price refers to the price that a buyer pays for a property.
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.
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.
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!
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!
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