“HONEST Advice You Can TRUST!”®

VA Loan Experts
Reverse Mortgage Specialists

At Best Mortgage® we do ALL kinds of loans … but we specialize in 2 unique programs: The VA Loan & Reverse Mortgage. Contact us for “HONEST Advice You Can TRUST!”® about those 2 loan programs… or ANY kind of mortgage!

Call us now at (425) 649-6000

Honest Advice & NO "Sales Pitch!"

FREE Mortgage Consultation

Who we are

About Best Mortgage®

Best Mortgage Inc. is a Consumer Loan Company licensed in Washington State. The family-owned company was founded in 1992 and is located in Bellevue, Washington.

BestMortgage.com went online in 1995 as one of the very first mortgage company websites in the entire country. We have always been way ahead of the competition. From the very beginning, the hallmark of Best Mortgage® has been “Honest Advice You Can Trust”®. We provide informational mortgage consultations WITHOUT a high pressure “sales pitch.”

best Mortgage
best Mortgage
Established IN

1992

“HONEST Advice You Can TRUST!”®

FREE useful information about Reverse Mortgages … VA Loans … and tips on Buying a Home:

Reverse Mortgage
Specialists

SENIORS: Cash in on your Equity! Get a loan where the Bank pays YOU and NEVER make a mortgage payment!

VA Loan
Experts!

Veterans / Active Duty Military: Buy a Home with NO MONEY DOWN! Already own a home? "Cash Out" Refinance up to 90% of your home's value! Call for details.

Home Buyer
Truth

Learn the inside secrets you MUST know BEFORE you buy a home!
“HONEST Advice You Can TRUST!”

As Heard On ...

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Best Mortgage®

"HONEST Advice You Can TRUST!"®

We want you to consider Best Mortgage® to be your trusted loan advisor. Why should you trust us?

Buy a home with
NO Money Down!

Get a Loan where the
Bank Pays YOU!

Why the Greater Seattle Area?

The Seattle area’s housing market is one of the strongest real estate markets in the entire country. There is ample opportunity for home buyers right now. With a rising inventory, there are more choices and less competition making it easier for home buyers to get their offers accepted. And with rising rates, securing a mortgage now could be beneficial against future increases. 

With decades of experience in the Greater Seattle area, we have keen insight into the unique characteristics of each community, from the  bustling streets of Capitol Hill to the serene waterfronts of West Seattle, Alki Beach to the high tech corridor of Kirkland-Redmond, to the Woodinville wineries and all the outlying communities from Arlington to Olympia. Our knowledge of local markets helps clients make informed decisions that align with their lifestyle and investment goals. Whether you’re a first-time buyer or a seasoned investor, we’re here to guide you through every step of mortgage lending in the exciting Greater Seattle housing market.

Mortgage 101: Understanding the Basics

A loan to buy a home is commonly called a “mortgage” even though in Washington State we actually use a document called a “Deed of Trust” rather than a mortgage. Whether you use a Mortgage or Deed of Trust, the loan is secured by the home you are buying.  The mortgage investor puts a “lien” on your home, which is a legal document that gives them the right to seize your home and sell it at a foreclosure auction if you fail to make your mortgage payments.  This is serious stuff!  So mortgage investors want to make sure your home is worth the amount you are paying for it in case they have to foreclose.  That’s why we do an appraisal when you buy a home, to verify its true market value.  And mortgage investors want to make sure you can afford the monthly payments so they don’t have to foreclose on you.  That’s why we have to thoroughly document your income, assets and credit history.

Depending on your income level, life situation, and credit scores, you might be suited for a variety of different types of mortgage loans: 

Fixed-Rate Mortgages: These are the most popular loans because they  have a constant interest rate throughout the life of the loan, resulting in predictable monthly payments. They are commonly offered in 15-, 20-, or 30-year terms.

Adjustable-Rate Mortgages (ARMs): ARMs have interest rates that change over time, typically starting lower than fixed-rate mortgages, but can fluctuate after a set period based on market conditions. They often include a cap on how much the rate can increase.

FHA Loans: Insured by the Federal Housing Administration, these loans are designed for low-to-moderate-income borrowers, especially first-time homebuyers. They require a lower minimum down payment and credit score compared to conventional loans.

VA Loans: Guaranteed by the U.S. Department of Veterans Affairs (VA), these are available to current and veteran service members and their spouses. VA loans offer great benefits like NO DOWN PAYMENT … easier credit qualifying … and no private mortgage insurance.

USDA Loans: Offered by the United States Department of Agriculture, these are for rural and semi-rural uburban home buyers meeting certain income requirements. They often require no down payment. 

 

Why Your Credit Score Matters

When it comes to mortgage lending in the Seattle area, your credit score influences both the loan approval process and the interest rate you’ll receive. A higher credit score typically indicates you’re a lower-risk borrower, which can lead to more favorable terms, such as lower interest rates and better mortgage options. Conversely, a lower credit score may might lead to higher interest rates or even difficulty in getting approved for a loan.  VA loans are more lenient on credit scores than conventional loans, they are good for veterans and active duty military who have “less than perfect credit.”

 

Down Payments & PMI

Down payments and Private Mortgage Insurance (PMI) both significantly affect your monthly mortgage payments. A larger down payment reduces the amount you need to borrow, leading to lower monthly payments. It can also help you avoid PMI, which mortgage investors lenders typically require when your down payment is less than 20% of the home’s purchase price.  We have some very low down payment options requiring only 3-5% down, and of course the BEST option for those who qualify is the VA loan that allows you to buy a home with NO Down Payment!

 

Understanding Property Taxes

In 2023, the property tax rate in King County, Washington, averaged roughly about 1% of a home’s assessed value. This translates to approximately $10 in taxes for every $1,000 of the property’s value. For instance, if a home is valued at $600,000, the homeowner can expect to pay around $6,000 annually in property taxes around tax season. Property tax rates change every year and vary from neighborhood to neighborhood. Be sure to check the actual property tax bill for every house for which you are considering making a purchase offer.

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“HONEST Advice You Can TRUST!”®
(425)-649-6000

We Do Loans In Washington State Only!

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Frequently Asked Questions

Mortgage rates change daily and sometimes even multiple times per day! Rates vary widely on a given day based on market conditions, your loan-to-value (LTV) ratio, and your personal credit score, and other factors.  Published mortgage rates typically reflect a “best case scenario” and may not be applicable to your personal financial situation. To get a current personalized rate quote, reach out today.

Commonly required documents include proof of identity, income, employment verification, credit history, and asset information.

The answer is: it depends.  In some cases, we can close very quickly, such as 2-3 weeks.  But it can take much longer than that for complicated transactions. There are a lot of variables depending on various factors such as the loan type, documentation, and specific underwriting requirements.

Yes, but with a lower credit score you can expect to pay a higher interest rate than a borrower with perfect credit.  We have some loan programs for home buyers with “less than perfect” credit, especially veterans and active military who can buy a home with a VA loan even if their credit score is as low as 550. At Best Mortgage®, we can assist you with ANY kind of mortgage in the Greater Seattle area.

Ready to Make the Seattle Area Home?

When you work with Best Mortgage®, you’re choosing a partner and expert advisor committed to your success in the home-buying journey. We promise you the following:

  •     Timely Closing: Ensure purchase transactions close are completed on schedule. If you miss your closing date by even one day you can lose your earnest money deposit and your dream home!, avoiding costly delays.
  •     Honest Advice: Focus on providing “honest advice you can trust”(r) genuine, unbiased guidance rather thana “sale pitch” to push you into a deal or loan program that may not be in your best interests.  sales-driven pitches.
  •     Constant Communication: Maintain open and regular communication throughout the mortgage process so you always know what is going on. You will NOT be left “guessing” and “hoping” that your loan will close on time. We will be right there with you every step of the way.

 

Our goal is to provide the BEST a seamless home-buying experience. Connect with us today to experience the BEST mortgage team in the Seattle area!