Washington State's Educator-First Mortgage Broker
Rates shown are sample/average rates updated daily by Edge Home Finance for illustration purposes. Actual rate depends on credit profile, loan amount, down payment, and lender. Click any rate to pre-fill the calculator on this page. Not a commitment to lend. John P. Cobain · NMLS #374881.
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Personalized Mortgage Experience
I've spent 30 years helping Washington State families buy homes — first-time buyers, veterans, self-employed borrowers, and everyone in between. My approach has always been the same: educate first, sell never. As a mortgage broker, I shop multiple lenders to find you the best rate and the right program for
your situation. If you're buying in Tacoma, Lakewood, Gig Harbor, Spokane, or anywhere across Washington State, let's have a real conversation — no pressure, no jargon.
The Home Loan Process
Mortgage Pre-Approval
Get pre-approved from one of our Loan Officers to see how much you can afford.
House Shopping
Work with a trusted Real Estate Agent to find a home you would like to move into.
Loan Application
Complete your home loan application to get the lending process started.
Don't take my word for it
Mortgage Programs
Mortgage programs built for Washington State buyers - from Tacoma and Gig Harbor to Spokane and everywhere in between.
Home Loan Options
Our experienced mortgage advisors will walk you through the best mortgage loan program that will fit your specific scenario.
Conventional Home Loans.
FHA Home Loans.
USDA Home Loans.
VA Home Loans.
Frequently Asked Questions
How often can I refinance my mortgage?
There's no set limit — you can refinance as many times as it makes financial sense to do so. What I
always tell people is that the right time to refinance is when the numbers genuinely work in your favor, not
just because rates moved a little. I'll help you run the break-even analysis so you know exactly what you'd
save and how long it takes to recoup closing costs. That's the only way to make a truly informed decision.
Can I buy a home if I don't have money for a down payment?
You might have more options than you think. VA loans allow zero down payment for eligible veterans and
active-duty service members. USDA loans offer zero down for buyers in qualifying rural and suburban areas
across Washington State — many communities around Tacoma, Spokane, and the Olympic Peninsula qualify. There are also Washington State down payment assistance programs that can cover some or all of your down payment on FHA and conventional loans. Let's look at what applies to your situation specifically.
How do I know which mortgage is right for me?
That's exactly the conversation I like to have before anything else. Every buyer is different — your credit,
your income, your down payment, your goals — and the right program depends on all of those factors
together. I specialize in VA loans, first-time homebuyer programs, FHA, USDA, jumbo, and Non-QM
financing, so I have a wide range of options to work with. My job is to lay out what's available, explain the real
differences, and let you make the call. No pressure either way.
How long will the loan process take?
A typical purchase loan takes around 30 days from application to closing, though it can move faster with
good preparation. VA loans have an additional appraisal step that can add a little time. USDA loans include a
secondary review by the USDA itself, which also extends the timeline slightly. I'll set honest expectations at
the start based on your specific loan type and keep both you and your realtor updated throughout — no one
should ever feel like they're in the dark about where things stand.
Will I qualify for a home loan?
The only real way to know is to have a conversation and look at your actual situation together. I've helped
a lot of buyers who came in thinking they couldn't qualify and walked away with a path forward. Credit,
income, down payment, employment history — there are a lot of variables, and sometimes one small
adjustment changes everything. I'll give you an honest assessment and if now isn't the right time, I'll tell you
that too, along with what it would take to get there.
Why do people refinance their mortgages?
The most common reasons are to lower their interest rate, reduce their monthly payment, or shorten their
loan term. Some homeowners refinance to access equity for home improvements or to consolidate debt.
Buyers who started with an FHA loan sometimes refinance into a conventional loan once they've built 20%
equity — which eliminates FHA mortgage insurance and can meaningfully lower their payment. Whatever the
reason, I'll help you run the numbers so the decision makes sense on paper before you commit to anything.
How much money will I have to pay upfront to buy a home?
It depends on the loan program and your situation. VA loans can be zero down for eligible veterans.
USDA loans are zero down in qualifying areas. FHA loans require as little as 3.5% down, and some
conventional programs go as low as 3%. On top of the down payment, you'll have closing costs — typically
2–3% of the loan amount, though some can be rolled in or covered by seller concessions. Down payment
assistance programs in Washington State can also help cover upfront costs for qualifying buyers. We'll look
at all of it together.
Can I get a mortgage after bankruptcy?
Yes — bankruptcy doesn't permanently close the door on homeownership. Each loan program has
defined waiting periods after a bankruptcy discharge. FHA typically requires two years after a Chapter 7. VA
loans are generally two years as well. Conventional loans are typically four years. The waiting periods after a
Chapter 13 can be shorter if you've been making payments consistently. Once you've cleared the waiting
period and rebuilt some credit, there's often a real path forward. Let's talk about where you are and what the
timeline looks like.
Should I lock my interest rate now or wait?
I track rates every day — multiple times a day, actually — because they move constantly based on
economic data, Fed decisions, and bond market activity. My honest answer is: if the rate available today
makes the payment work for your budget, locking now eliminates the risk of it going higher. Waiting is a
gamble. Rates can improve, but they can also move against you quickly. I'll give you my read on where
things are and what I'm seeing in the market, and then you make the call. That's what I'm here for.
Most Recent Blog Updates
The Fed Held Rates Steady Again and Here Is What It Actually Means for Your Mortgage
The Fed Held Rates Steady Again and Here Is What It Actually Means for Your Mortgage
Powell's Final Meeting and What the Rate Stability Signal Means for Buyers
The Federal Reserve just held interest rates steady for the third time this year and this meeting carried additional significance as Jerome Powell's final meeting as Fed Chair. For buyers who have been watching the rate environment and trying to understand what comes next here is what this development actually means and how to use the current window to your advantage.
Why Rate Stability Is a Buyer's Friend
When the Fed holds rates steady it typically creates a period of stability in the broader market environment. For buyers that stability is genuinely useful. It gives you time to shop, plan, and get your financing in order without the market shifting dramatically from one week to the next. Active rate movement creates hesitation and uncertainty. Stability creates a window where prepared buyers can move with confidence.
What Most Buyers Miss About How Mortgage Rates Actually Move
Here is the part that gets overlooked in most conversations about Fed decisions. Mortgage rates do not move in lockstep with what the Fed does at its meetings. They follow the ten-year Treasury yield and investor expectations about the future direction of policy rather than reacting mechanically to present Fed decisions.
As John Cobain explains this means rates can still drift lower even while the Fed holds steady if the bond market believes that cuts are coming later in the year. Investor sentiment about where policy is heading matters as much as or more than where it currently sits. Buyers who understand this are not waiting for the Fed to act before they start planning. They are watching the signals that actually drive mortgage rates and positioning themselves accordingly.
What a New Fed Chair Could Mean
A change in Fed leadership often brings a shift in communication style and market tone even when the underlying policy framework remains consistent. A new chair establishes their own approach to forward guidance and their own relationship with bond market expectations. That fresh tone can influence investor sentiment and by extension the mortgage rate environment in ways that are worth paying attention to as the transition unfolds.
The absence of a June Fed meeting provides a longer runway of predictable policy in the near term. That extended window without a scheduled meeting point gives both the market and buyers more time to plan in a stable environment before the next major policy decision arrives.
How to Build Rate Volatility Into Your Numbers Right Now
Even during a period of relative stability some rate movement between now and when you close on a home is a real possibility. The practical way to account for that without letting it paralyze your decision making is to build a cushion into your numbers before you have a signed contract.
A buffer of 0.25 to 0.50 percent above the rate you see quoted today gives you room to absorb movement in either direction without having to restructure your entire financial plan. If rates improve you benefit from the difference. If they move slightly higher within that cushion you have already planned for it and the purchase still works. That approach keeps you in control of the decision rather than at the mercy of daily market fluctuations.
Why Quiet Periods Are When Prepared Buyers Win
The buyers who consistently make the best decisions in real estate are not the ones who move at the peak of market excitement. They are the ones who get prepared during quieter periods like this one and are positioned to act decisively when conditions shift in their favor.
A period of Fed stability, an extended timeline without a major meeting, and a market processing a leadership transition is exactly the kind of environment where prepared buyers can get their finances organized, complete a thorough pre-approval, and build a strategy that holds up regardless of what the rate environment does next.
John Cobain works with buyers to stay ahead of market developments and build purchasing strategies that work in the current environment and beyond. Reach out to John Cobain to get prepared during this window of stability and be ready when the market shifts.
Sources
FederalReserve.gov MortgageNewsDaily.com TreasuryDirect.gov CNBC.com BankRate.com
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