Tools to help you.

Check out current rates and estimate your mortgage with our calculator.

Mortgage Calculator.

Use our mortgage calculator to estimate your monthly payments.

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10%

1%

5%

$
$

$1421

Monthly Payment

Principal & Interest $1421

Monthly Taxes $1421

Monthly HOA $1421

Monthly Insurance $1421

This tool is for educational purposes for your research in purchasing or refinancing your home.

Refinance
Calculator.

Use our refi calculator to estimate your savings.

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%
months
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%
months
$

Refinancing could save you

$/month

New monthly payment $

Refinance fees $

Lifetime Savings $

This tool is for educational purposes for your research in purchasing or refinancing your home.

Mortgage Rates.

View the current mortgage rates for WA.

Please note that rates may be up to 48 hours behind. For up to the minute rates contact us today!

How lenders decide how much
you can afford to borrow?

Mortgage lenders are required to assess your ability to repay the amount you want to borrow. A lot of factors go into that assessment, and the main one is debt-to-income ratio.

Your debt-to-income ratio is the percentage of pretax income that goes toward monthly debt payments, including the mortgage, car payments, student loans, minimum credit card payments and child support. Lenders look most favorably on debt-to-income ratios of 36% or less — or a maximum of $1,800 a month on an income of $5,000 a month before taxes.

Typical costs included in a mortgage payment

If your mortgage payment included just principal and interest, you could use a bare-bones mortgage calculator. But most mortgage payments include other charges as well. Here are the key components of the monthly mortgage payment:

Principal

This is the amount you borrow. Each mortgage payment reduces the principal you owe.

Interest

What the lender charges you to lend you the money. Interest rates are expressed as an annual percentage.

Property Taxes

The annual tax assessed by a government authority on your home and land. You pay about one-twelfth of your annual tax bill with each mortgage payment, and the servicer saves them in an escrow account. When the taxes are due, the loan servicer pays them.

Homeowners insurance

Your policy covers damage and financial losses from fire, storms, theft, a tree falling on your house and other bad things. As with property taxes, you pay roughly one-twelfth of your annual premium each month, and the servicer pays the bill when it’s due.

Mortgage insurance

If your down payment is less than 20% of the home’s purchase price, you’ll likely pay mortgage insurance. It protects the lender’s interest in case a borrower defaults on a mortgage. Once the equity in your property increases to 20%, the mortgage insurance is canceled, unless you have an FHA loan backed by the Federal Housing Administration.

Typically, when you belong to a homeowners association, the dues are billed directly, and it’s not added to the monthly mortgage payment.

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