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 and Cash Out Refi loans. Sound has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Bremerton, Olympia, Portland, and Shelton among others. We have data for 21 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% 4/30/24
    30 Year Conventional Purchase 6.44% 4/30/24
    30 Year Conventional Refi 6.29% 4/30/24
    30 Year Cash-out Refi 6.46% 4/30/24
    30 Year FHA Purchase 6.27% 4/30/24
    30 Year VA Purchase 6.21% 4/30/24
    30 Year VA Refi 6.01% 4/30/24
    30 Year USDA Purchase 6.27% 4/30/24
    15 Year Conventional Purchase 5.59% 4/30/24
    15 Year Conventional Refi 5.92% 4/30/24
    15 Year Cash-out Refi 5.92% 4/30/24
    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

    1,778

    Origination Dollar Volume (All Markets)

    $411,820,000
    Show all (11) 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) 1,539 $346,825,000 $225,357 $2,848 2.93%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 54 $20,070,000 $371,667 $2,683 2.99%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 76 $19,390,000 $255,132 $2,527 2.85%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 7 $4,605,000 $657,857 $4,537 2.97%
    Shelton, WA (FHA|USDA|VA) 13 $3,385,000 $260,385 $1,966 3.31%
    Aberdeen, WA (FHA|USDA|VA) 13 $2,555,000 $196,538 $2,603 2.97%
    Oak Harbor, WA (FHA|USDA|VA) 12 $2,360,000 $196,667 $3,617 2.81%
    Moses Lake, WA (FHA|USDA|VA) 4 $1,660,000 $415,000 $3,225 3.30%
    WENATCHEE, WA (FHA|USDA|VA) 6 $1,530,000 $255,000 $3,177 2.62%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 6 $1,340,000 $223,333 $3,259 2.77%
    Outside of Metro Areas 7 $1,245,000 $177,857 $2,375 3.04%
    Centralia, WA (FHA|USDA|VA) 9 $1,145,000 $127,222 $2,631 3.22%
    Ellensburg, WA (FHA|USDA|VA) 5 $1,125,000 $225,000 $2,359 2.87%
    BELLINGHAM, WA (FHA|USDA|VA) 4 $1,040,000 $260,000 $3,601 2.69%
    Port Angeles, WA (FHA|USDA|VA) 6 $980,000 $163,333 $2,826 2.87%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 5 $795,000 $159,000 $3,412 2.80%
    YAKIMA, WA (FHA|USDA|VA) 4 $720,000 $180,000 $3,750 2.90%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 3 $465,000 $155,000 $4,222 2.79%
    BEND, OR (FHA|USDA|VA) 1 $255,000 $255,000 $2,791 2.75%
    BOISE CITY, ID (FHA|USDA|VA) 2 $180,000 $90,000 $4,347 2.75%
    WALLA WALLA, WA (FHA|USDA|VA) 2 $150,000 $75,000 $1,028 3.90%
    Sound's top markets include Seattle, Bremerton, Olympia, Portland, and Shelton among others.

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

    O BEE
    Similarity Rank: 447
    Olympia Federal Savings & Loan Association
    Similarity Rank: 840
    VERITY
    Similarity Rank: 2550
    LO, INC.
    Similarity Rank: 2560
    Bank of the Pacific
    Similarity Rank: 2639
    SOUND
    Similarity Rank: 2709
    Shea Mortgage Inc.
    Similarity Rank: 2850
    NorthWest Plus Credit Union
    Similarity Rank: 2961
    TRISTAR FINANCE, INC.
    Similarity Rank: 3224
    America's Credit Union
    Similarity Rank: 3248

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,125 $340,365,000 $302,547 $2,832 2.91%
    HELOC 633 $65,905,000 $104,115 n/a 2.99%
    VA 20 $5,550,000 $277,500 $3,133 2.32%

    For 2021, Sound's most frequently originated type of loan was Conventional, with 1,125 originations. Their 2nd most popular type was HELOC, with 633 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 551 $155,925,000 $282,985 $2,694 2.71%
    Cash Out Refi 475 $139,735,000 $294,179 $3,262 2.75%
    Home Improvement 462 $36,470,000 $78,939 $43 3.22%
    Home Purchase 156 $64,380,000 $412,692 $4,070 3.01%
    Other 134 $15,310,000 $114,254 $0 3.37%

    For 2021, Sound's most frequently cited loan purpose was Refi, with 551 originations. The 2nd most popular reason was Cash Out Refi, with 475 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 719 $112,825,000 $156,919 $840 3.10%
    30 Year 682 $217,230,000 $318,519 $3,376 2.84%
    15 Year 268 $57,720,000 $215,373 $2,258 2.71%
    20 Year 76 $19,820,000 $260,789 $2,745 2.64%
    5 Year 23 $1,615,000 $70,217 $0 3.88%
    Other 10 $2,610,000 $261,000 $1,250 3.40%

    For 2021, Sound's most frequently cited loan duration was 10 Year, with 719 originations. The 2nd most popular length was 30 Year, with 682 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 537 $160,595,000 $299,060
    $<1k 476 $102,610,000 $215,567
    $2k-3k 40 $13,990,000 $349,750
    $5k+ 25 $11,705,000 $468,200
    $3k-4k 18 $6,460,000 $358,889
    $4k-5k 15 $5,145,000 $343,000

    Sound's average total fees were $3,376, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 537 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,177 $234,375,000 $199,129
    <2.5% 337 $85,025,000 $252,300
    3-4% 159 $77,875,000 $489,780
    4-5% 67 $12,245,000 $182,761
    5-6% 27 $1,645,000 $60,926
    6-7% 10 $600,000 $60,000
    7-8% 1 $55,000 $55,000

    During 2021, Sound's average interest rate for loans was 2.84%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,177 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 645 $183,465,000 $284,442 $3,001 2.72%
    $100,000 or less 510 $26,660,000 $52,275 $303 3.31%
    $100k-200k 402 $58,850,000 $146,393 $2,555 2.79%
    $400k-600k 181 $85,325,000 $471,409 $4,047 2.83%
    $600k-1MM 24 $16,860,000 $702,500 $6,327 3.18%
    $1MM+ 16 $40,660,000 $2,541,250 $9,974 3.67%

    2021 saw Sound place emphasis on $200k-400k loans with 645 originations, totaling $183,465,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 537 $116,255,000 $216,490 $2,843 2.91%
    $150k-250k 361 $86,915,000 $240,762 $3,275 2.98%
    $75k-100k 326 $66,670,000 $204,509 $2,765 2.88%
    $50k-75k 284 $50,520,000 $177,887 $2,593 2.94%
    $50k or less 120 $15,470,000 $128,917 $2,469 2.87%
    $250k+ 84 $25,210,000 $300,119 $3,626 2.94%

    Sound lent most frequently to those with incomes in the $100k-150k range, with 537 originations. The second most popular income band? $150k-250k, with 361 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 483 $103,945,000 $215,207 $2,870 2.86%
    30-36% 339 $70,635,000 $208,363 $2,858 2.93%
    <20% 177 $34,615,000 $195,565 $2,646 2.74%
    42% 156 $25,220,000 $161,667 $2,441 3.07%
    41% 98 $20,100,000 $205,102 $2,724 3.22%
    39% 89 $18,285,000 $205,449 $2,682 2.99%
    37% 70 $15,240,000 $217,714 $2,872 2.96%
    40% 68 $11,930,000 $175,441 $2,216 3.10%
    36% 65 $12,735,000 $195,923 $2,918 2.97%
    38% 49 $9,345,000 $190,714 $2,588 3.03%
    43% 44 $12,270,000 $278,864 $3,434 2.85%
    44% 32 $9,150,000 $285,938 $2,803 2.86%
    45% 26 $8,030,000 $308,846 $3,613 2.75%
    48% 17 $4,175,000 $245,588 $3,377 2.74%
    49% 14 $4,360,000 $311,429 $2,734 2.63%
    47% 11 $3,595,000 $326,818 $4,113 2.67%
    46% 10 $3,420,000 $342,000 $3,462 2.80%
    50-60% 5 $1,675,000 $335,000 $4,684 2.55%

    Sound lent most frequently to those with DTI ratios of 20-30%, with 483 originations. The next most common DTI ratio? 30-36%, with 339 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,265 $263,025,000 $207,925 $2,804 2.93%
    Not provided 263 $54,905,000 $208,764 $2,832 2.90%
    Not applicable 20 $39,010,000 $1,950,500 $0 3.80%
    Asian 109 $24,865,000 $228,119 $2,724 2.96%
    Black 52 $11,450,000 $220,192 $3,162 2.89%
    American Indian 31 $7,345,000 $236,935 $3,560 2.96%
    Filipino 10 $2,950,000 $295,000 $2,952 2.72%
    Other Asian 6 $2,350,000 $391,667 $3,166 2.60%
    Vietnamese 7 $2,115,000 $302,143 $3,312 2.66%
    Asian Indian 4 $1,110,000 $277,500 $2,321 2.93%
    Japanese 3 $1,055,000 $351,667 $3,160 2.63%
    Chinese 2 $1,000,000 $500,000 $3,375 2.75%
    Native Hawaiian or Islander 5 $425,000 $85,000 $3,237 3.09%
    Guamanian 1 $215,000 $215,000 $2,240 2.13%

    Approval Rates

    Total approvals of all applications
    85.02%

    Sound has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.66%

    Sound has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,778 $411,820,000 $231,620

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,778 $411,820,000 $231,620

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 370 $70,060,000 $189,351 $2,505 2.75%
    40-60% 390 $110,230,000 $282,641 $2,936 2.67%
    60-80% 356 $152,720,000 $428,989 $3,488 2.87%
    80-100% 99 $42,645,000 $430,758 $3,991 2.89%
    Over 100% 1 $385,000 $385,000 $0 3.69%
    Under 20% 562 $35,780,000 $63,665 $418 3.28%