Sound Mortgage Rates, Fees & Info

Tacoma, WA

LEI: 54930021QRU8VXNS6152

Tax ID: 91-0557925

5 stars - Updated: 7/13/25 - out of 5 stars, based on 28 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Sound is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Sound has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Olympia, Port Angeles, Wenatchee, and Bremerton among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Sound has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Sound is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.89% 7/13/25
    30 Year Conventional Purchase 6.50% 7/13/25
    30 Year Conventional Refi 6.27% 7/13/25
    30 Year Cash-out Refi 6.72% 7/13/25
    30 Year FHA Purchase 6.72% 7/13/25
    30 Year VA Purchase 5.89% 7/13/25
    30 Year VA Refi 5.64% 7/13/25
    15 Year Conventional Purchase 6.32% 7/13/25
    15 Year Conventional Refi 7.19% 7/13/25
    15 Year Cash-out Refi 7.19% 7/13/25
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Sound Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Sound. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    807

    Origination Dollar Volume (All Markets)

    $191,075,000

    Awards

    SOUND 30 Year Conventional Loans silver SOUND 30 Year Conventional Loans gold SOUND 30 Year Conventional Loans silver
    Show all (3) awards

    Relative Rate

    Sound's average 30 year fixed mortgage rate was 6.27%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.28%.

    Relative Fees (Closing Costs)

    Sound's average total fees/closing costs for a 30 year fixed rate mortgage were $5,486.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 708 $161,890,000 $228,658 $1,701 6.68%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 34 $6,370,000 $187,353 $1,598 6.61%
    Port Angeles, WA (FHA|USDA|VA) 7 $4,795,000 $685,000 $2,750 6.03%
    WENATCHEE, WA (FHA|USDA|VA) 4 $4,630,000 $1,157,500 $1,879 6.69%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 17 $2,835,000 $166,765 $1,192 6.53%
    Outside of Metro Areas 2 $1,890,000 $945,000 $5,058 6.69%
    Centralia, WA (FHA|USDA|VA) 6 $1,800,000 $300,000 $2,604 6.09%
    Aberdeen, WA (FHA|USDA|VA) 4 $1,540,000 $385,000 $4,176 6.65%
    Oak Harbor, WA (FHA|USDA|VA) 4 $1,210,000 $302,500 $3,584 7.09%
    Shelton, WA (FHA|USDA|VA) 6 $950,000 $158,333 $3,409 5.79%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 4 $770,000 $192,500 $3,345 6.25%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $685,000 $685,000 $0 6.91%
    BELLINGHAM, WA (FHA|USDA|VA) 3 $535,000 $178,333 $4,325 5.96%
    LONGVIEW, WA (FHA|USDA|VA) 1 $355,000 $355,000 $4,061 6.38%
    WALLA WALLA, WA (FHA|USDA|VA) 1 $295,000 $295,000 $0 4.99%
    LEWISTON, ID-WA (FHA|USDA|VA) 1 $245,000 $245,000 $2,538 6.25%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $140,000 $70,000 $0 7.88%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 2 $140,000 $70,000 $0 8.25%
    Sound's top markets include Seattle, Olympia, Port Angeles, Wenatchee, and Bremerton among others.

    Their top states include:
  • Washington (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against SOUND based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Olympia Federal Savings & Loan Association
    Similarity Rank: 56
    KITSAP Credit Union
    Similarity Rank: 380
    TWINSTAR
    Similarity Rank: 754
    SOUND
    Similarity Rank: 774
    O BEE
    Similarity Rank: 833
    HARBORSTONE
    Similarity Rank: 944
    America's Credit Union
    Similarity Rank: 979
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 1200
    Shea Mortgage Inc.
    Similarity Rank: 1606
    Peoples Bank
    Similarity Rank: 2044

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 401 $136,235,000 $339,738 $1,604 7.10%
    HELOC 396 $49,660,000 $125,404 n/a 6.23%
    VA 10 $5,180,000 $518,000 $8,229 5.79%

    For 2024, Sound's most frequently originated type of loan was Conventional, with 401 originations. Their 2nd most popular type was HELOC, with 396 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 371 $38,535,000 $103,868 $92 6.61%
    Refi 176 $33,080,000 $187,955 $631 6.65%
    Home Purchase 126 $97,060,000 $770,317 $5,553 6.51%
    Other 112 $10,940,000 $97,679 $308 7.04%
    Cash Out Refi 22 $11,460,000 $520,909 $5,887 6.42%

    For 2024, Sound's most frequently cited loan purpose was Home Improvement, with 371 originations. The 2nd most popular reason was Refi, with 176 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 509 $113,795,000 $223,566 $74 6.55%
    15 Year 131 $14,655,000 $111,870 $283 7.52%
    30 Year 123 $58,325,000 $474,187 $5,486 6.27%
    5 Year 37 $3,605,000 $97,432 $0 6.35%
    Other 7 $695,000 $99,286 $0 6.65%

    For 2024, Sound's most frequently cited loan duration was 10 Year, with 509 originations. The 2nd most popular length was 15 Year, with 131 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 254 $22,420,000 $88,268
    $1k-2k 86 $37,530,000 $436,395
    $3k-4k 10 $4,990,000 $499,000
    $5k+ 7 $7,085,000 $1,012,143
    $4k-5k 6 $2,570,000 $428,333
    $2k-3k 5 $2,435,000 $487,000

    Sound's average total fees were $5,486, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 254 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 262 $31,920,000 $121,832
    7-8% 181 $36,235,000 $200,193
    Over 8% 174 $20,980,000 $120,575
    6-7% 125 $78,665,000 $629,320
    5-6% 56 $22,310,000 $398,393
    <2.5% 9 $965,000 $107,222

    During 2024, Sound's average interest rate for loans was 6.27%, while their most frequently originated rate bucket for loans was 4-5%, with 262 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 388 $21,460,000 $55,309 $68 6.77%
    $100k-200k 181 $24,345,000 $134,503 $389 6.72%
    $200k-400k 132 $36,790,000 $278,712 $3,562 6.42%
    $400k-600k 57 $27,425,000 $481,140 $5,117 6.26%
    $1MM+ 26 $64,220,000 $2,470,000 $12,867 6.80%
    $600k-1MM 23 $16,835,000 $731,957 $7,463 6.37%

    2024 saw Sound place emphasis on $100,000 or less loans with 388 originations, totaling $21,460,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 230 $32,550,000 $141,522 $1,523 6.65%
    $150k-250k 229 $43,305,000 $189,105 $2,108 6.51%
    $75k-100k 117 $14,755,000 $126,111 $1,593 6.78%
    $250k+ 95 $31,375,000 $330,263 $2,530 6.84%
    $50k-75k 74 $7,360,000 $99,459 $1,778 6.33%
    $50k or less 26 $1,370,000 $52,692 $567 6.93%

    Sound lent most frequently to those with incomes in the $100k-150k range, with 230 originations. The second most popular income band? $150k-250k, with 229 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 160 $29,090,000 $181,813 $2,292 6.63%
    42% 153 $21,245,000 $138,856 $1,141 7.02%
    20-30% 151 $21,725,000 $143,874 $1,133 6.47%
    41% 54 $7,100,000 $131,481 $758 6.57%
    39% 42 $4,590,000 $109,286 $772 6.42%
    40% 41 $5,605,000 $136,707 $1,074 6.78%
    38% 38 $5,320,000 $140,000 $1,422 6.56%
    <20% 35 $5,425,000 $155,000 $2,205 6.25%
    36% 34 $6,150,000 $180,882 $2,068 6.75%
    37% 34 $5,770,000 $169,706 $1,042 6.58%
    43% 14 $6,030,000 $430,714 $2,743 7.06%
    44% 6 $3,620,000 $603,333 $4,486 6.17%
    46% 6 $3,290,000 $548,333 $5,459 6.33%
    47% 5 $2,605,000 $521,000 $4,964 6.68%
    45% 4 $2,450,000 $612,500 $9,395 6.06%
    48% 2 $740,000 $370,000 $5,417 6.06%
    49% 2 $610,000 $305,000 $6,900 5.88%

    Sound lent most frequently to those with DTI ratios of 30-36%, with 160 originations. The next most common DTI ratio? 42%, with 153 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 581 $93,735,000 $161,334 $1,694 6.66%
    Not applicable 26 $59,710,000 $2,296,538 $0 6.95%
    Asian 70 $13,010,000 $185,857 $1,962 6.42%
    Not provided 54 $12,220,000 $226,296 $2,896 6.65%
    Black 36 $4,150,000 $115,278 $776 6.95%
    American Indian 15 $2,735,000 $182,333 $2,221 6.39%
    Vietnamese 2 $1,200,000 $600,000 $5,008 6.31%
    Other Asian 4 $1,130,000 $282,500 $2,803 5.71%
    Asian Indian 6 $1,090,000 $181,667 $2,142 6.61%
    2 $830,000 $415,000 $4,484 6.56%
    Native Hawaiian or Islander 4 $430,000 $107,500 $0 7.57%
    Filipino 2 $360,000 $180,000 $0 7.65%
    Other Pacific Islander 2 $180,000 $90,000 $0 6.12%
    Native Hawaiian 1 $155,000 $155,000 $0 7.25%
    Guamanian 1 $75,000 $75,000 $0 4.99%
    Japanese 1 $65,000 $65,000 $0 4.99%

    Approval Rates

    Total approvals of all applications
    74.59%

    Sound has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    75.09%

    Sound has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 807 $191,075,000 $236,772

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    807 $191,075,000 $236,772

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 149 $27,345,000 $183,523 $496 6.83%
    40-60% 59 $26,895,000 $455,847 $3,971 6.46%
    60-80% 71 $80,375,000 $1,132,042 $5,887 6.49%
    80-100% 38 $18,470,000 $486,053 $6,039 6.21%
    Under 20% 490 $37,990,000 $77,531 $78 6.68%