Sound Mortgage Rates, Fees & Info

Tacoma, WA

LEI: 54930021QRU8VXNS6152

Tax ID: 91-0557925

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 Refi, Cash Out Refi, and Home Purchase loans. Sound has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Olympia, Bremerton, Lewiston, and Oak Harbor among others. We have data for 24 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) 5.19% 11/21/24
    30 Year Conventional Purchase 6.44% 11/21/24
    30 Year Conventional Refi 6.29% 11/21/24
    30 Year Cash-out Refi 6.46% 11/21/24
    30 Year FHA Purchase 6.27% 11/21/24
    30 Year VA Purchase 6.21% 11/21/24
    30 Year VA Refi 6.01% 11/21/24
    30 Year USDA Purchase 6.27% 11/21/24
    15 Year Conventional Purchase 5.59% 11/21/24
    15 Year Conventional Refi 5.92% 11/21/24
    15 Year Cash-out Refi 5.92% 11/21/24
    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

    1,284

    Origination Dollar Volume (All Markets)

    $237,180,000
    Show all (7) awards

    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) 1,108 $199,590,000 $180,135 $2,413 3.62%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 70 $11,720,000 $167,429 $2,117 3.91%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 39 $6,235,000 $159,872 $3,196 3.63%
    LEWISTON, ID-WA (FHA|USDA|VA) 2 $3,510,000 $1,755,000 $0 4.15%
    Oak Harbor, WA (FHA|USDA|VA) 4 $2,930,000 $732,500 $4,289 3.90%
    Moses Lake, WA (FHA|USDA|VA) 3 $2,635,000 $878,333 $2,467 3.67%
    Shelton, WA (FHA|USDA|VA) 12 $2,130,000 $177,500 $2,774 3.70%
    WENATCHEE, WA (FHA|USDA|VA) 3 $1,435,000 $478,333 $3,616 4.33%
    BELLINGHAM, WA (FHA|USDA|VA) 7 $1,095,000 $156,429 $2,077 4.11%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 4 $1,010,000 $252,500 $2,883 3.31%
    Outside of Metro Areas 5 $985,000 $197,000 $2,811 3.81%
    Centralia, WA (FHA|USDA|VA) 4 $800,000 $200,000 $3,347 4.47%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $500,000 $250,000 $2,639 4.13%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 2 $420,000 $210,000 $1,378 3.65%
    YAKIMA, WA (FHA|USDA|VA) 2 $410,000 $205,000 $2,629 3.13%
    Aberdeen, WA (FHA|USDA|VA) 5 $315,000 $63,000 $2,086 3.83%
    BEND, OR (FHA|USDA|VA) 1 $305,000 $305,000 $2,207 3.38%
    Roseburg, OR (FHA|USDA|VA) 1 $285,000 $285,000 $3,838 4.38%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 5 $255,000 $51,000 $0 3.60%
    Ellensburg, WA (FHA|USDA|VA) 1 $245,000 $245,000 $2,477 4.00%
    WALLA WALLA, WA (FHA|USDA|VA) 1 $165,000 $165,000 $5,272 3.38%
    Port Angeles, WA (FHA|USDA|VA) 1 $85,000 $85,000 $0 2.99%
    Astoria, OR (FHA|USDA|VA) 1 $85,000 $85,000 $2,611 4.38%
    LONGVIEW, WA (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.04%
    Sound's top markets include Seattle, Olympia, Bremerton, Lewiston, and Oak Harbor among others.

    Their top states include:
  • Washington (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.

    KITSAP Credit Union
    Similarity Rank: 418
    Ukrainian Federal Credit Union
    Similarity Rank: 657
    Sno Falls Credit Union
    Similarity Rank: 1090
    O BEE
    Similarity Rank: 1162
    BKCO MORTGAGE, LLC
    Similarity Rank: 1221
    SALAL
    Similarity Rank: 1764
    WHATCOM EDUCATIONAL CREDIT UNION
    Similarity Rank: 2030
    LO, INC.
    Similarity Rank: 2048
    NorthWest Plus Credit Union
    Similarity Rank: 2124
    Seattle Metropolitan Credit Union
    Similarity Rank: 3104

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 788 $183,600,000 $232,995 $2,218 4.05%
    HELOC 467 $44,275,000 $94,807 n/a 3.00%
    VA 29 $9,305,000 $320,862 $8,151 3.20%

    For 2019, Sound's most frequently originated type of loan was Conventional, with 788 originations. Their 2nd most popular type was HELOC, with 467 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 411 $79,875,000 $194,343 $1,857 3.60%
    Home Improvement 336 $21,670,000 $64,494 $10 3.49%
    Cash Out Refi 255 $75,685,000 $296,804 $3,295 3.82%
    Home Purchase 170 $51,140,000 $300,824 $4,285 3.73%
    Other 112 $8,810,000 $78,661 $71 3.81%

    For 2019, Sound's most frequently cited loan purpose was Refi, with 411 originations. The 2nd most popular reason was Home Improvement, with 336 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 572 $60,380,000 $105,559 $183 3.32%
    30 Year 448 $137,190,000 $306,228 $3,541 3.83%
    15 Year 156 $24,940,000 $159,872 $1,405 4.24%
    5 Year 52 $2,960,000 $56,923 $19 3.87%
    20 Year 47 $11,005,000 $234,149 $2,872 3.64%
    Other 9 $705,000 $78,333 $0 4.67%

    For 2019, Sound's most frequently cited loan duration was 10 Year, with 572 originations. The 2nd most popular length was 30 Year, with 448 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 565 $109,475,000 $193,761
    $1k-2k 202 $57,800,000 $286,139
    $3k-4k 14 $4,800,000 $342,857
    $2k-3k 10 $2,600,000 $260,000
    $5k+ 9 $5,675,000 $630,556
    $4k-5k 5 $1,955,000 $391,000

    Sound's average total fees were $3,541, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 565 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 508 $55,700,000 $109,646
    3-4% 462 $123,630,000 $267,597
    4-5% 209 $49,335,000 $236,053
    5-6% 68 $5,640,000 $82,941
    6-7% 28 $2,600,000 $92,857
    7-8% 8 $250,000 $31,250
    Over 8% 1 $25,000 $25,000

    During 2019, Sound's average interest rate for loans was 3.83%, while their most frequently originated rate bucket for loans was 2.5-3%, with 508 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 512 $24,760,000 $48,359 $263 3.71%
    $200k-400k 390 $110,350,000 $282,949 $3,203 3.60%
    $100k-200k 273 $39,235,000 $143,718 $2,360 3.53%
    $400k-600k 92 $42,760,000 $464,783 $4,282 3.80%
    $600k-1MM 11 $8,155,000 $741,364 $4,330 4.06%
    $1MM+ 6 $11,920,000 $1,986,667 $29,686 4.49%

    2019 saw Sound place emphasis on $100,000 or less loans with 512 originations, totaling $24,760,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 371 $69,925,000 $188,477 $2,527 3.68%
    $75k-100k 285 $47,755,000 $167,561 $2,316 3.64%
    $50k-75k 234 $33,700,000 $144,017 $2,440 3.64%
    $150k-250k 221 $46,565,000 $210,701 $2,640 3.54%
    $50k or less 97 $9,755,000 $100,567 $1,598 3.78%
    $250k+ 48 $14,820,000 $308,750 $3,921 3.58%

    Sound lent most frequently to those with incomes in the $100k-150k range, with 371 originations. The second most popular income band? $75k-100k, with 285 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 310 $54,340,000 $175,290 $2,378 3.58%
    30-36% 261 $45,135,000 $172,931 $2,449 3.59%
    42% 111 $14,995,000 $135,090 $1,566 3.64%
    <20% 102 $14,560,000 $142,745 $2,405 3.45%
    41% 65 $10,015,000 $154,077 $1,901 3.71%
    38% 60 $11,660,000 $194,333 $2,399 3.75%
    37% 58 $10,690,000 $184,310 $1,807 3.76%
    40% 53 $8,995,000 $169,717 $1,639 3.77%
    36% 52 $7,120,000 $136,923 $1,961 3.75%
    43% 47 $9,775,000 $207,979 $2,753 3.74%
    39% 43 $6,745,000 $156,860 $2,212 3.74%
    44% 41 $12,095,000 $295,000 $3,103 3.77%
    45% 17 $3,255,000 $191,471 $2,574 3.92%
    46% 16 $4,360,000 $272,500 $4,165 3.68%
    48% 15 $5,105,000 $340,333 $4,043 3.79%
    49% 13 $3,705,000 $285,000 $2,814 3.90%
    47% 9 $2,995,000 $332,778 $4,314 3.79%
    50-60% 3 $955,000 $318,333 $10,365 3.71%

    Sound lent most frequently to those with DTI ratios of 20-30%, with 310 originations. The next most common DTI ratio? 30-36%, with 261 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 983 $171,005,000 $173,962 $2,351 3.66%
    Not provided 151 $30,145,000 $199,636 $2,835 3.56%
    Asian 69 $12,385,000 $179,493 $2,222 3.63%
    Not applicable 7 $10,225,000 $1,460,714 $0 5.20%
    Black 30 $4,710,000 $157,000 $3,034 3.37%
    American Indian 20 $2,940,000 $147,000 $2,662 4.04%
    Asian Indian 6 $2,250,000 $375,000 $2,805 3.60%
    Native Hawaiian or Islander 9 $1,325,000 $147,222 $2,676 3.83%
    Filipino 3 $695,000 $231,667 $2,830 3.71%
    Chinese 2 $660,000 $330,000 $3,760 3.31%
    Other Asian 1 $375,000 $375,000 $1,821 3.50%
    Native Hawaiian 1 $315,000 $315,000 $2,503 4.38%
    Other Pacific Islander 2 $150,000 $75,000 $0 2.99%

    Approval Rates

    Total approvals of all applications
    80.54%

    Sound has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    77.18%

    Sound has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,284 $237,180,000 $184,720

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $7,645,000 $1,529,000
    Single Family (1-4 Units):Manufactured 17 $1,875,000 $110,294
    Single Family (1-4 Units):Site-Built 1,262 $227,660,000 $180,396

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 251 $36,865,000 $146,873 $1,550 3.50%
    40-60% 167 $40,975,000 $245,359 $2,636 3.63%
    60-80% 274 $92,850,000 $338,869 $3,174 3.81%
    80-100% 113 $39,765,000 $351,903 $4,413 3.75%
    Over 100% 2 $890,000 $445,000 $18,219 3.44%
    Under 20% 477 $25,835,000 $54,161 $258 3.63%