r/SeattleAreaRE

Got a conventional loan recently? What rate did you actually get, and who did you end up financing with?
Trying to figure out who is giving the most competitive rates right now (or at least as good as it gets given how brutal the market is).

For those who closed recently:

1. Which lender/broker did you go with? (Local credit union, online direct lender, wholesale broker, or major bank?)
2. What rate/APR did you lock in, and did you pay discount points to get it?
3. Did you use seller credits for a permanent buy-down or a 2-1 buydown to make the initial payment manageable?

Appreciate any insights!

We closed on our house today. We had to move out of state for work, so living in it wasn’t an option, and renting it out meant losing money every month.

We took a real loss, more than I’d like to admit😭😭😭. But we ran the numbers: taking the cash out now and putting it, plus what we’d keep paying every month, into the S&P 500 or even a ~6% return, versus holding and selling in 2028. Holding only came out a few tens of thousands ahead in the better scenario, which wasn’t worth the market risk or the landlord risk.

My takeaways:
• A house is a liability, not an asset, unless you can make sure it’s cash flow positive.
• Nobody can predict the future. Not the market, not rates, not where your job takes you.
• Peace of mind is worth something. I’d rather sleep well at night than hold and hope.

I hope I won’t regret it if the market bounces back next year, like people who sold in 2020? But I need to move on and focus my energy on making the money back.

Over 150k loss since 2021. Right by lake Sammamish in a great neighborhood.

High hoa but covers water sewer garbage. Also close to i90 for commute to Seattle.