Current Vancouver Mortgage Rates

About Our Current Rates

Our Current Rates Available.

(206) 499-4726

These are current rates and are a  current national average of APRs according to Fannie Mae. Rates for you may be different as the mortgage market changes in real-time.

Trusted

Vancouver and Portland trust Prism Lending Partners with their loan applications to get a competitive rate and have a great experience.  We actively work with you to ensure that you are able to purchase the house that you desire.

Local

Our local presence means that we are accessible and knowledgable about the SW Washington and Portland Metro area.

When you need a local mortgage company to be with you during the process, call us.

Competitive Rates

Competitive mortgage rates for borrowers in Vancouver, Portland, Camas, Battle Group, and all of SW Washington means that you get a competitive rate.  Want to know how we do it? Call Us.

Find the loan that's right for you.

Our team will help you find the right loan for you at the right time.  We offer products and have an understanding of the market at all phases of the real estate cycle.  We are committed to guiding you through selecting a loan and will help you reach your personal and financial goals with transparency and professionalism.

Meet The Team

Brian Spitulski
NMLS# 880824

Haley Dickerson
NMLS # 2319236

 

Kevin
NMLS# 218326

John
NMLS# 1700043

Mark Villanueva

Home Buyer in Happy Valley

Brian helped my wife and I purchase our first home in Happy Valley. As first time homebuyers, there was a steep learning curve throughout the entire home buying process. Brian was very helpful and patient in explaining not only procedures involved with obtaining the mortgage, but also with anything other processes we had questions about. Brian even came to our escrow signing appointment to give the paperwork a final look. Brian still contacts us every few months to let us know how interest rates are looking and whether it would be beneficial to refinance. Big thumbs up to Brian and we'll definitely use him again when we're in the market for another property.

Sean Curringan

Vancouver Home Buyer

My wife and I have followed Brian from his previous company to him now at U-Mortgage. While his company has changed, his level of service has stayed light years ahead of the rest of the industry and for that, we’re very grateful! Buying a house is for most people, the largest purchase they will ever make, which can be a pretty scary situation. Brian goes above and beyond to ensure that the consumer knows exactly what is going on at all times. This can be as simple as explaining what certain fees are or possibly as complex as how best to boost a credit score. Whatever the case may be, Brian is amazing! I personally don’t know too many Mortgage Guys who go as far as making sure to be present at the final signings. Mr. Spitulski does this and much more. My wife and I plan on using Brian in the future and highly recommend anyone else going through the home purchase process to give Brian at least a shot, it’s well worth it!

R. Rogers

Designation

Put your trust into Brian! You can tell he is honest and truly cares about his customers. He worked hard to get us the best possible interest rate (and keep it despite closing taking longer than expected due to an issue the sellers of our new house needed to work out). He patiently worked with us over the course of two years while we paid off debts, saved, and followed his advice to increase our credit scores. Once we were ready to go and found our dream home, Brian got everything mortgage-related done lightening fast! The whole process was so quick, easy and smooth I couldn’t believe it!! He was always quick to answer our millions of questions (this is our first house) and clearly works long hours to make sure his people are completely taken care of. Our experience couldn’t have been better!

What are the Current Vancouver, WA Mortgage Rates?

Mortgage Rates are the interest rate that a borrower pays on a mortgage loan. Mortgage Rates are determined by the lender and can vary from lender to lender. Mortgage Rates are typically expressed as an Annual Percentage Rate (APR) and are usually fixed for the life of the loan or can be adjustable. The APR reflects the total cost of the loan including interest and any applicable fees. In addition to the APR, borrowers may also be required to pay mortgage insurance, closing costs, and other fees related to the loan.

Mortgage Rates are influenced by many factors including the current state of the economy, inflation, market conditions, and the individual borrower’s credit score, income, and debt-to-income ratio. It is important to shop around and compare different mortgage lenders to get the best rate available.

Mortgage Rates in Vancouver, WA vary depending on the type of loan, the loan amount, the down payment amount, and the borrower’s credit score. Potential borrowers can get an instant quote from U-Mortgage to compare quotes from multiple lenders and find the best rate for their situation.

How Does U-Mortgage In Vancouver’s Mortgage Rates Work?

Mortgage Rates are determined by the lender and can vary from lender to lender. Mortgage Rates are typically expressed as an Annual Percentage Rate (APR) and are usually fixed for the life of the loan or can be adjustable. The APR reflects the total cost of the loan including interest and any applicable fees.

Mortgage Rates are influenced by many factors including the current state of the economy, inflation, market conditions, and the individual borrower’s credit score, income, and debt-to-income ratio. It is important to shop around and compare different mortgage lenders to get the best rate available.

In order to calculate a mortgage payment, you’ll need to know the home price, down payment amount, loan term and interest rate. The NerdWallet mortgage calculator lets you adjust those factors to run different scenarios. You can also compare loan terms and find out if an ARM is right for you. The calculator shows the principal balance, total interest paid and monthly payments.

Types of Mortgage Rates Available in Vancouver

There are several types of mortgage rates available. Fixed-rate mortgages have a fixed interest rate and a fixed monthly payment for the life of the loan. Adjustable-rate mortgages (ARMs) have an initial fixed-rate period followed by a variable rate period. Interest-only mortgages allow borrowers to only pay the interest on the loan for a set period of time before having to start paying on the principal as well.

In addition to the APR, borrowers may also be required to pay mortgage insurance, closing costs, and other fees related to the loan. Monthly payments can go up over time if taxes or insurance premiums rise or if you incur a late fee from your mortgage servicer.

Mortgage Rates in Vancouver, WA vary depending on the type of loan, the loan amount, the down payment amount, and the borrower’s credit score. Potential borrowers can get an instant quote from U-Mortgage to compare quotes from multiple lenders and find the best rate for their situation.

Factors that Affect Mortgage Rates

Credit History

Your credit score, or FICO score, is a major factor in determining your mortgage rate. Having a lower score could result in a higher interest rate, while a higher score could result in a lower rate. Additionally, your credit score will determine the type of loan you can qualify for and the amount you can borrow.

If you have a history of delinquency, it will further influence your interest rate and whether or not you can qualify for a loan at all. Your credit utilization ratio, or the amount of your available credit you are using, is also important. The lower your credit utilization ratio, the better.

Another factor in determining your mortgage rate is the length of your credit history. The longer your credit history, the more reliable you are likely to be seen as a borrower. This can be beneficial in obtaining a lower interest rate.

Income and Debt Load

When it comes to mortgages, lenders want to make sure that you can comfortably afford the payments on the loan. To do this, they will consider your income and debt load. This means that they will look at your income, debt-to-income ratio, and other financial obligations to determine if you can make the payments on the loan.

Your debt-to-income ratio is calculated by dividing your total monthly debt payments by your gross monthly income. The lower your ratio is, the better your chances of receiving a lower interest rate. Lenders also want to make sure that you are not taking on too much debt, so they will look at your other financial obligations to make sure that you can handle a mortgage payment.

Your income is also important in determining the interest rate you will receive. The higher your income is, the more likely you are to qualify for a lower interest rate. This is because lenders view those with higher incomes as less of a risk, since they are more likely to be able to make their payments on time.

Property Type and Location

The type of property you are looking to purchase and its location can also affect the interest rate you receive. Lenders view certain property types as more risky than others. For example, a condo or a mobile home may be seen as riskier than a single-family home, and thus will likely result in a higher interest rate.

The location of the property can also affect the interest rate. Homes in rural areas, for example, may be seen as riskier than homes in more urban areas because of the potential for lower property values. Similarly, homes in areas with higher crime rates may also be seen as riskier and may result in a higher interest rate.

The age of the home can also be a factor. Older homes may be seen as more of a risk, since there may be more maintenance and repair costs involved. Depending on the age of the home, lenders may require a more thorough inspection of the property before approving a loan.

Mortgage Term Length

The length of the mortgage term is another factor that will affect the interest rate you receive. A shorter term length typically results in a lower interest rate, while a longer term length will usually result in a higher interest rate. A shorter term length will also usually result in higher monthly payments, while a longer term length will usually result in lower monthly payments.

When choosing a mortgage term, it is important to consider your long-term financial goals. If you plan to stay in the home for a long time and want to build equity, then a shorter term length may be best. If you plan to move in a few years, then a longer term length may be more beneficial.

It is also important to consider the type of loan you are applying for. Some loan types, such as adjustable rate mortgages, can only be taken out for a certain term length. Make sure to consider all of your options before deciding on a term length.

Mortgage Rate Calculations

Loan to Value Ratio (LTV)

When doing a mortgage rate calculation, one of the key factors to consider is the Loan to Value Ratio (LTV). This ratio is the amount of money borrowed as a percentage of the value of the property. The higher the LTV, the higher the risk for the lender, and thus the higher the interest rate. Generally, an LTV of 80% or less will get you the best rate since it is considered a low-risk loan.

Another key factor to consider is the type of loan. Conventional mortgages, which are those not insured by the government, are the most common. The LTV for a conventional loan is typically 80% or less, but some lenders may offer loans with higher LTVs. It is important to note that in order to get the best mortgage rate, it is important to keep the LTV as low as possible.

It is also important to consider the type of property. For example, lenders may offer different rates for a single-family home than they would for a condo. Additionally, the type of property will affect the amount of the down payment required, which can impact the LTV and the interest rate.

Debt to Income Ratio (DTI)

The Debt to Income (DTI) ratio is another key factor in mortgage rate calculations. This ratio is used to measure an individual's ability to make their mortgage payments. It is calculated by dividing the total monthly debt payments (including the proposed mortgage payment) by the individual's gross monthly income. The higher the DTI, the riskier the loan and the higher the interest rate.

It is important to know that lenders have different DTI requirements, so it is important to compare rates from multiple lenders. Additionally, it is important to consider other factors such as credit score and down payment amount when comparing rates. Additionally, some lenders may offer lower rates for those with a lower DTI.

When calculating your DTI, it is important to remember that other debts such as credit cards, car payments, and student loans can all affect your DTI. Additionally, some lenders may not consider certain types of income, such as income from rental properties or certain investments, when calculating your DTI. Therefore, it is important to discuss your situation with a lender to ensure that you are getting the best rate possible.

Fixed-Rate vs. Adjustable-Rate Mortgages

When comparing mortgage rates, it is important to consider the type of loan. Fixed-rate mortgages offer a set interest rate for the entire duration of the loan. This is advantageous for those who prefer the stability of a fixed payment. However, fixed-rate mortgages tend to have higher interest rates than adjustable-rate mortgages (ARMs).

Adjustable-rate mortgages, on the other hand, offer a lower initial interest rate, but the rate can change over time. ARMs are typically offered in terms of 3, 5, 7 or 10 years. After the initial period, the interest rate will adjust to the current market rate. ARMs may be beneficial for those who are planning to stay in their home for a shorter period of time or who expect their income to increase in the future.

When considering an adjustable-rate mortgage, it is important to understand the potential risks. If market rates rise, so will your interest rate, which could lead to a higher monthly payment, or you could even end up owing more than the original loan amount. Therefore, it is important to weigh the pros and cons of each loan type before making a decision.

Vancouver, WA Mortgage Rates

Average Mortgage Rates in Vancouver

Vancouver, WA has a strong real estate market and is expected to experience gains in the near future. The average house price as of December 2022 was $602,324. 

Interest rates depend on a wide range of different factors, including credit score, down payment, property type, occupancy, loan program and number of days you are locking your rate. If the instant rate quote isn’t what you expected, U-Mortgage can provide counsel on how to potentially transform your quote into something more acceptable. The company offers reduced PMI options with as little as 3% down and one of the big advantages of applying for mortgage rate quotes and preapproval through U-Mortgage is that it pays its Loan Officers a salary instead of a commission based on the loan amount so they are motivated to help you find the best home loan not just sell you the biggest loan.

Comparing Mortgage Rates in Vancouver

The best way to compare mortgage rates in Vancouver is to use the mortgage rate tool available on the NerdWallet website. This tool allows you to enter the purchase price and down payment amount to calculate loan-to-value ratios and determine interest rates. Higher credit scores qualify for lower mortgage rates, so it’s important to shop around for competitive quotes from multiple lenders in one place. The NerdWallet calculator also includes options to add more details like income and debts for an even more accurate quote.

Another great resource for comparing mortgage rates in Vancouver is Trulia. This website provides a mortgage rate tool which lets you compare current rates from participating lenders in the area. The tool can be used to determine loan-to-value ratios and interest rates, and also provides options to consider VA loans and FHA loans. In addition to principal and interest, your monthly mortgage payment may include property taxes, homeowners insurance and a monthly PMI payment if your down payment was less than 20%.

How to Find the Best Mortgage Rates in Vancouver

The best way to find the best mortgage rates in Vancouver is to shop around and compare quotes from multiple lenders. It’s important to understand your current financial situation before you start looking for a mortgage, as lenders are required to assess your ability to repay the amount you want to borrow. Factors such as your debt-to-income ratio and credit score will determine the interest rate offered, so it’s important to keep these in check. It’s also important to remember that monthly payments can go up over time if taxes or insurance premiums rise or if you incur a late fee from your mortgage servicer.

When looking for a mortgage professional in Vancouver, it’s important to consider the reputation of the company as well as the individual loan officer. Reviews from previous customers can be a great indicator of customer service and the overall experience.

Summary of Factors That Affect Mortgage Rates in Vancouver

Mortgage Rates are determined by a variety of factors, including the borrower's credit score and history, debt-to-income ratio, the loan amount, type of loan, and the location and age of the property. Additionally, the length of the mortgage term can also affect the rate. It is important to shop around and compare different lenders to get the best rate available.

Calculating Your Mortgage Rate in Vancouver

When calculating your mortgage rate, it is important to consider the Loan to Value (LTV) ratio, Debt to Income (DTI) ratio, and the type of loan. The LTV is the amount borrowed as a percentage of the value of the property and is used to measure the risk for the lender. The DTI is used to measure the borrower's ability to make their mortgage payments. Additionally, fixed-rate mortgages offer a fixed rate for the duration of the loan, while adjustable-rate mortgages (ARMs) offer a fixed rate for a initial period followed by a variable rate.

Getting the Best Rate in Vancouver

In order to get the best mortgage rate, it is important to have a good credit score, low debt-to-income ratio, and a low Loan to Value ratio. Additionally, it is important to shop around and compare different lenders to find the best rate available. It is also important to consider the type of loan and the length of the mortgage term when comparing rates.