Sammamish Mortgage: Home Financing in Washington

Selecting the best Sammamish mortgage provider is sometimes like negotiating a maze. Whether you are refinancing an existing mortgage or purchasing your first home, Sammamish Mortgage wants to make this process as easy as possible. As one of the best options for Washington homebuyers, Sammamish Mortgage stands out for its long history and dedication to customer care.

What is Sammamish Mortgage?

Since 1992, the family-run business Sammamish Mortgage has provided mortgage services to the Pacific Northwest. They provide a large selection of mortgage choices designed to satisfy the various requirements of buyers. Their goal is to deliver simple, clear mortgage solutions while placing a high priority on client pleasure.

Why choose Sammamish Mortgage?

Competitive Rates

It is well known that Sammamish Mortgage provides some of the most affordable rates in the sector. They keep an eye on the state of the industry to give their clients the best deals.

Customer Service Excellence

Sammamish Mortgage’s core value is its customer service. Their staff of seasoned experts is committed to helping customers navigate each stage of the mortgage application process, making it easy and stress-free.

Local Expertise

Sammamish Mortgage is a locally owned business with extensive expertise in the real estate market in the Pacific Northwest. Their local knowledge enables them to provide perspectives and recommendations that national lenders might overlook.

Who owns Sammamish Mortgage?

Ryan Shane’s family still controls Sammamish Mortgage, which was founded in 1992 by Harley and a business partner in the Seattle region.

Who is the second-largest mortgage lender?

United Wholesale Mortgage (United Shore Financial Services) United Wholesale Mortgage is the second-largest mortgage company, originating 348,415 mortgages in 2022 worth $127.5 billion. United Wholesale Mortgage went public in January 2022 via SPAC.

Types of Mortgages Offered

Conventional Loans

A conventional loan is any mortgage loan that is not insured or guaranteed by the government (such as under the Federal Housing Administration, Department of Veterans Affairs, or Department of Agriculture loan programs).

FHA Loans

An FHA loan is a type of mortgage geared toward borrowers with lower credit scores or who otherwise don’t qualify for a conventional loan. You can use an FHA loan to buy, build, or renovate a home or to refinance an existing mortgage.

VA Loans

A VA loan is a mortgage offered through a U.S. Department of Veterans Affairs program. VA loans are available to active and veteran service personnel and their surviving spouses and are backed by the federal government but issued through private lenders.

Jumbo Loans

A loan is considered jumbo if the amount of the mortgage exceeds loan-servicing limits set by Fannie Mae and Freddie Mac—currently $766,550 in 2024 for a single-family home in all states (except Hawaii, Alaska, and a few federally designated high-cost markets, where the limit is $1,149,825).

Refinancing Your Mortgage

When to Consider Refinancing

If interest rates have decreased since you first got your mortgage or if you need to adjust the conditions of your loan, refinancing can be a wise decision.

Steps Involved

In order to refinance, you must file for a new mortgage to replace your current one. Sammamish Mortgage makes this process easy for its clients to go through.

Potential Savings

By lowering your interest rate or altering the terms of your loan, refinancing can result in significant savings over the course of the loan.

Mortgage Calculators and Tools

Affordability Calculator

You can use the affordability calculator provided by Sammamish Mortgage to find out how much house you can buy based on your income and spending.

Loan Comparison Tool

The loan comparison tool allows you to compare different mortgage options side by side to find the best fit for your needs.

The following factors are the most crucial aspects of comparison available to you in online loan comparison calculators:
  1. Loan amount;
  2. Monthly payment;
  3. Loan term;
  4. Total interest;
  5. Total payment;
  6. Fees; and.
  7. Interest rate and APR.

Amortization Schedule

You can better understand how much you will pay in principal and interest by looking at an amortization schedule, which illustrates how your payments are applied over the course of your loan.