Redmond, WA Mortgage Rates

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$ 3,646
The monthly payment shown is principal and interest only and doesn’t include property taxes and homeowners insurance.
/mo
6.125%
6.368%
2.178
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$ 3,792
The monthly payment shown is principal and interest only and doesn’t include property taxes and homeowners insurance.
/mo
6.500%
6.617%
0.838
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$ 3,892
The monthly payment shown is principal and interest only and doesn’t include property taxes and homeowners insurance.
/mo
6.750%
6.802%
0.158
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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 highly experienced Mortgage Advisors make informed decisions on what loan structure works right for their specific situation.

Redmond Mortgage Rates

Well-known as the home to the primary campus of Microsoft, the city of Redmond is one of the most attractive areas to live in the Greater Seattle-Bellevue metropolitan complex. The city of Redmond currently has a median home value of around $1,237,336 as of January 2024.

Redmond boasts high-quality neighborhoods, a vibrant town center, low crime, excellent employment opportunities, and a host of other perks. To the south of Redmond, you’ll find one of the city’s most appealing attractions: Lake Sammamish. Residents can take out their boats and enjoy this highly attractive body of water.

The city also has several very attractive parks, such as Grass Lawn Park and Marymoor Park. Redmond is very close to Bellevue, and so those who need to commute to work will have a quick travel time. What’s more, commuting to Seattle from Redmond will also be fairly easy because Redmond is located close to Highway 520.

A few of Redmond’s top-notch neighborhoods include Bear Creek, Campton, Education Hill, Sammamish Valley, Avondale, and English Hill. Anyone of these neighborhoods would be a great place to call home. Learn more about buying a home in Redmond, WA.

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 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.

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 premier 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 most competitive 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 great rates available. Adjustments to the terms available for most loan programs occur in 20 point increments. For example the second leading 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 most competitive terms when compared to other property types. Provided you put down more than 25% condos will be second leading 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

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 great 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

Conn Clark
December 18, 2024
Sammamish Mortgage was wonderful to work with. Trevor and Barb did an excellent job of guiding me through the loan process and getting me approved. If I need to get another loan I will definitely use them again.
Eti Shechtman
December 2, 2024
Sammamish Mortgage provide exceptional service! The team is fast, proactive, and attentive to every detail, making the entire mortgage process smooth and stress-free. Their friendly and knowledgeable approach made us feel supported at every step.
Mike Tucker
December 2, 2024
Shelly and her team went above and beyond to help us close on our house within a very tight timeline. I thought their rates were too good to be true, but they indeed made it happen without any surprise fees along the way. Highly Recommended!
Ankita Pal
November 29, 2024
We truly appreciate the seamless experience provided by the Sammamish Mortgage team. We were nervous first home buyers. The patience that Ryan and Jana showed in addressing our queries and ensuring we understood each step was invaluable. It made the entire process much smoother and more reassuring for us. We will certainly recommend Sammamish Mortgage to friends and family who might benefit from your expertise.
Austen Stone
November 26, 2024
Working with Ryan and team was a pleasure - I only knew a small amount about the refinance process and the factors involved and the entire team was very patient with my questions! I would definitely recommend them to anyone looking for a mortgage
Vlad Krupin
November 25, 2024
Prompt, diligent. Our experience was smooth and without hiccups. And - importantly - the rates are hard, if not impossible to beat.
Nick Koveshnikov
November 18, 2024
Very professional and easy to work with company. We refinanced my mother's house with Sammamish Mortgage and they were very clear about the process, helpful in guiding our family through the process, and focused on making the process easy and convenient for us at every step. Have already been highly recommending SM to my friends and coworkers.

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!

  • 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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