Seattle, Washington, nicknamed “The Emerald City,” is a shining city on the Pacific Coast. Steady precipitation keeps the area green and lush. Visitors and residents enjoy shopping for fresh seafood at local farmers’ markets, having lunch at the famous Space Needle and going to professional sporting events featuring Seattle’s exciting teams.
Finding the best Seattle mortgage rates for you can be an overwhelming task. There are many ways to compare services and companies to save you time and money.
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| Population 563,374 | Median Age 35.4 yrs | Household Size: 2.08 |
| Avg Home Value: $259,600 | July High: 75.4°F | January Low: 35.2°F |
Seattle Mortgage Rates
Finding the right mortgage and mortgage rate for you can be an overwhelming task in the purchase of your new home. It is almost impossible to fill out a one-page form and be approved and funded the same day for your loan. Mortgages involve a lot of paperwork, and your rate can make the difference in saving you hundreds, or even thousands of dollars. When looking for mortgages, most lenders provide prequalification forms that can better give you an idea of your financial status. It is important to discuss rates and loan options with a financial banker that understands your situation and background.
When applying for a loan you will need to bring the following information:
- Last year’s W-2 form.
- Signed and dated federal tax returns (1040s) from last year, including all of the schedules.
- Your most recent pay stub.
- A copy of your most recent mortgage statement.
These forms will give the lender your financial background information to start the process of getting a loan. Most companies publish mortgage rate information online so that you can compare rates; however, actual rates vary on personal circumstances. The current Seattle mortgage rates range from 5 percent to 8 percent and depend on down payment, loan length, and type of loan (whether it is fixed or variable.) Although there is a lot to consider when purchasing a home, spend some time researching mortgage rates. The extra work could save you money and make all the difference in the rate you receive.
Find out more about mortgage rates:
A REALTOR® is a real estate professional who is a member of the National Association of REALTORS®