For everyone watching mortgage rates in Everett, Washington I have put together this mortgage rate information. The mortgage rate graphs will update from data on my website http://seattle.rateswire.com. Mortgage rates have been changing a great deal lately and I want you to know these changes and how your mortgage rate and costs are actually determined. For your mortgage related questions I am a short drive south on I5 or Highway 99!
Thirty year fixed mortgage rates are based on wholesale 30 year mortgage rates and individual risk factors such as credit, loan to value, and occupancy. The most accurate way to track mortgage rates is to just look at the wholesale rate from Fannie Mae, Freddie Mac, or Ginnie Mae. The wholesale mortgage rate for Fannie Mae is known as the Fannie Mae Required Net Yield 30, 30 Day delivery and it is a fundamental basis for conforming 30 year fixed mortgage rates. To my neighbors in Lynnwood, Washington two miles north of me I present the history of it below:
If you who would like to know how this wholesale mortgage rate translates into the rates and costs offered to you after risk and costs are added, my 30 Year Fixed Mortgage Rate and Cost Calculator is available online and provides mortgage rate pricing and analysis for scenarios you input.
Fifteen year fixed mortgage rates show much smaller changes in daily mortgage rates. The rapid payoff of principle under a fifteen year fixed mortgage causes these mortgages to be considered much safer investments. This makes these mortgage rates lower and more stable compared to 30 year fixed mortgage rates. One wholesale 15 year fixed mortgage rate basis is below:
Adjustable mortgage rates fluctuate a great deal based on current money markets and expectations in changes to money markets. Three, five, and seven year adjustable rate mortgages are the most common and I present one wholesale 7 year ARM mortgage rate basis below:
Please keep in mind these represent the wholesale cost of money and do not include any risk or lending costs or fees. If you would like to see an example of how one of these products translate into mortgage rates and cost for your exact situation please use my 30 year fixed mortgage rate and cost analyzer to input your rough situation and fill in the comment section at the bottom with your contact information and the mortgage products you would like to see. Or just head south a few miles from Everett on Hwy 99 or I5 and see me in person!
Stephen Ching 510 LO 35993
Steve@rateswire.com or by Cell 425 344 2191
Mortgage Loan Center, LLC
22019 Highway 99 #B Edmonds WA 98026 (425) 640 9789
Mortgage rates for Bothell, Washington continue their slow climb this year. Mortgage rates are made up of a low risk wholesale mortgage rate plus risk and cost additions. I have been tracking 30 year, 15 year, and ARM mortgage wholesale rates and I share this below. I also put together a description what these mortgage rates represent and a calculator so you can price mortgage rates for your own scenarios. I am only the first exit south on I5 from 405N if you have any questions!
Thirty year fixed mortgage rates are based on wholesale 30 year mortgage rates and individual risk factors such as credit, loan to value, and occupancy. The most accurate way to track mortgage rates is to just look at the wholesale rate from Fannie Mae, Freddie Mac, or Ginnie Mae. The wholesale mortgage rate for Fannie Mae is known as the Fannie Mae Required Net Yield 30, 30 Day delivery and it is a fundamental basis for conforming 30 year fixed mortgage rates. To everyone else in Edmonds, I present the history of it below:
If you who would like to know how this wholesale mortgage rate translates into the rates and costs offered to you after risk and costs are added, my 30 Year Fixed Mortgage Rate and Cost Calculator is available online and provides mortgage rate pricing and analysis for scenarios you input.
Fifteen year fixed mortgage rates show much smaller changes in daily mortgage rates. The rapid payoff of principle under a fifteen year fixed mortgage causes these mortgages to be considered much safer investments. This makes these mortgage rates lower and more stable compared to 30 year fixed mortgage rates. One wholesale 15 year fixed mortgage rate basis is below:
Adjustable mortgage rates fluctuate a great deal based on current money markets and expectations in changes to money markets. Three, five, and seven year adjustable rate mortgages are the most common and I present one wholesale 7 year ARM mortgage rate basis below:
Please keep in mind these represent the wholesale cost of money and do not include any risk or lending costs or fees. If you would like to see an example of how one of these products translate into mortgage rates and cost for your exact situation please use my 30 year fixed mortgage rate and cost analyzer to input your rough situation and fill in the comment section at the bottom with your contact information and the mortgage products you would like to see. Or just take a short drive on 405 N to I5 S and come see me!
Stephen Ching 510 LO 35993
Steve@rateswire.com or by Cell 425 344 2191
Mortgage Loan Center, LLC
22019 Highway 99 #B Edmonds WA 98026 (425) 640 9789
Hello fellow mortgage rate seekers and trackers in Edmonds, Washington. I have put together mortgage rates for 30 year, 15 year, and ARM mortgages. I also put together a description what these mortgage rates represent and a calculator so you can price mortgage rates for your own scenarios. I am only a hop, skip, and a jump away for your questions!
Thirty year fixed mortgage rates are based on wholesale 30 year mortgage rates and individual risk factors such as credit, loan to value, and occupancy. The most accurate way to track mortgage rates is to just look at the wholesale rate from Fannie Mae, Freddie Mac, or Ginnie Mae. The wholesale mortgage rate for Fannie Mae is known as the Fannie Mae Required Net Yield 30, 30 Day delivery and it is a fundamental basis for conforming 30 year fixed mortgage rates. To everyone else in Edmonds, I present the history of it below:
If you who would like to know how this wholesale mortgage rate translates into the rates and costs offered to you after risk and costs are added, my 30 Year Fixed Mortgage Rate and Cost Calculator is available online and provides mortgage rate pricing and analysis for scenarios you input.
Fifteen year fixed mortgage rates show much smaller changes in daily mortgage rates. The rapid payoff of principle under a fifteen year fixed mortgage causes these mortgages to be considered much safer investments. This makes these mortgage rates lower and more stable compared to 30 year fixed mortgage rates. One wholesale 15 year fixed mortgage rate basis is below:
Adjustable mortgage rates fluctuate a great deal based on current money markets and expectations in changes to money markets. Three, five, and seven year adjustable rate mortgages are the most common and I present one wholesale 7 year ARM mortgage rate basis below:
Please keep in mind these represent the wholesale cost of money and do not include any risk or lending costs or fees. If you would like to see an example of how one of these products translate into mortgage rates and cost for your exact situation please use my 30 year fixed mortgage rate and cost analyzer to input your rough situation and fill in the comment section at the bottom with your contact information and the mortgage products you would like to see. Or just take a hop, skip, and a jump and come see me in person!
Stephen Ching 510 LO 35993
Steve@rateswire.com or by Cell 425 344 2191
Mortgage Loan Center, LLC
22019 Highway 99 #B Edmonds WA 98026 (425) 640 9789
Thirty year fixed mortgage rates are based on wholesale 30 year mortgage rates and individual risk factors such as credit, loan to value, and occupancy. The most accurate way to track mortgage rates is to just look at the wholesale rate from Fannie Mae, Freddie Mac, or Ginnie Mae. The wholesale mortgage rate for Fannie Mae is known as the Fannie Mae Required Net Yield 30, 30 Day delivery and it is a fundamental basis for conforming 30 year fixed mortgage rates. To my neighbors in Lynnwood, Washington two miles north of me I present the history of it below:
If you who would like to know how this wholesale mortgage rate translates into the rates and costs offered to you after risk and costs are added, my 30 Year Fixed Mortgage Rate and Cost Calculator is available online and provides mortgage rate pricing and analysis for scenarios you input.
Fifteen year fixed mortgage rates show much smaller changes in daily mortgage rates. The rapid payoff of principle under a fifteen year fixed mortgage causes these mortgages to be considered much safer investments. This makes these mortgage rates lower and more stable compared to 30 year fixed mortgage rates. One wholesale 15 year fixed mortgage rate basis is below:
Adjustable mortgage rates fluctuate a great deal based on current money markets and expectations in changes to money markets. Three, five, and seven year adjustable rate mortgages are the most common and I present one wholesale 7 year ARM mortgage rate basis below:
Please keep in mind these represent the wholesale cost of money and do not include any risk or lending costs or fees. If you would like to see an example of how one of these products translate into mortgage rates and cost for your exact situation please use my 30 year fixed mortgage rate and cost analyzer to input your rough situation and fill in the comment section at the bottom with your contact information and the mortgage products you would like to see. Or just drive two miles south of Lynnwood on Hwy 99 and see me in person!
Stephen Ching 510 LO 35993
Steve@rateswire.com or by Cell 425 344 2191
Mortgage Loan Center, LLC
22019 Highway 99 #B Edmonds WA 98026 (425) 640 9789
Mortgage applicants rest easier if they know the mortgage process. This article outlines what to expect when working with me here at your local Edmonds, Washington mortgage company, The Mortgage Loan Center, LLC.
The first step in the mortgage process is for you to take some notes on what your goals are. An excellent question is how many years you plan to invest in the property you are obtaining a mortgage on. Another excellent question is will your future income keep up with the increases to cost of living and should you consolidate debt, if possible. These are questions that guide mortgage selection.
The next step in the mortgage process is to talk with me about your mortgage related goals and then ask and answer questions. My questions will be to determine your eligibility for different mortgages and how well certain mortgages fit your goals. I prefer to sit down in my office here in Edmonds when possible as I have access to a wider variety of analysis and other tools.
In the next step in the mortgage process I present you a rough idea of mortgage rates, costs, and payments for products you appear eligible for may meet your needs and goals. Please be aware that rates change continuously like the stock market.
*Outdated rate information which may not be available. Current rate and pricing information is available from my mortgage rate and cost analyzer.
The next step in the mortgage process is to fill out a loan application, Good Faith Estimate, and disclosures here in Edmonds or over the phone for the option that best fits your goals. These forms and a checklist of items are checked over by you. Filling these out in my office in allows immediate same day processing and faster rate locks!
The next step is to put together a perfect application package. Your signature and return of the application and checklist of items allows me to double check your loan application. A credit report will be pulled and credit information merged into the application. A copy of the credit report will be mailed to you if you don't stop by to pick it up.
After a perfect application is prepared next in the application process is to enter the information into a computerized underwriting system. The system I use most often is Fannie Mae's computerized Desktop Underwriter. All steps in the mortgage process up to now are typically done in a day or two.
The computerized approval may ask for additional documentation.
The next part of the mortgage process is 
to obtain a rate lock on your mortgage. I also request a title and escrow company to examine the title for your house. When everything is in order I proceed to order and appraisal using your credit or debit card number to pay . Appraisals cost ~$425 and are completed in roughly one to three weeks here in Edmonds, Washington. Ordering title, escrow, and going over the approval is typically completed by Day 2.
The next step of the mortgage process is for human lender underwriting. When title information arrives it is merged with your file and sent to underwriting at a lender. I prefer to use local accessible lenders within a short drive, especially for custom homes or complicated situations. A local human underwriter will look through your mortgage application and provide initial feedback on anything he or she wants clarified while they wait for the appraisal. This typically is done Day 10 to Day 12.
One of the last steps of the mortgage process is to obtain a final approval. Three days after the appraisal is received by the lender with additional conditions (if any) that were requested a final approval is issued! This is typically day 15-24.
The next step of the mortgage process is to order mortgage documents from the lender to be delivered to the title and escrow company for you to sign. This is day 17-26. At this point the escrow company will set an appointment for you to sit down with them to sign documents. Prior to signing you will receive an updated estimate of all costs and fees if any have changed.
The second to last step in the mortgage process is for you to sign the prepared mortgage documents. You receive a copy of all signed documents from the escrow company.
The last step of the mortgage process is for your loan to fund. The escrow company collects funds from you and the lender as appropriate. Purchase mortgages fund the next day, refinance mortgages fund after a three day waiting period. This is day 18 to 30!
For questions about your mortgage stop by my office in Edmonds if possible! You can also contact me via my mortgage rate and cost analyzer for mortgage scenarios, or via my contact information below. To learn a little more about me the profile for Stephen Ching is here.
Stephen Ching, Loan Originator 510 LO 35993
Office(425) 640 9789 or via web at http://seattle.rateswire.com
Cell (425) 344 2191
Mortgage Mortgage Center, LLC
22019 Hwy 99 #B
Edmonds WA 98026
License # 510-MB-20022
I specialize in rapidly closing refinances with same day or next day approval and rate locks. This keeps costs down and the process simple. I have closed loans in Washington for the last eight years.
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