Washington State's Educator-First Mortgage Broker
Rates and APRs shown are sample/average figures updated daily by Edge Home Finance for illustration purposes. Actual rate and APR depend on credit profile, loan amount, down payment, term, and lender fees. Click any product to pre-fill the calculator below. Not a commitment to lend. John P. Cobain · NMLS #374881 · Equal Housing Lender.
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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
What Every Buyer Needs to Know About ARM Loans Before They Sign and What Questions to Ask First
Meta Description
The Lower Payment Is Real but It Comes With a Question Most Buyers Never Ask
An adjustable-rate mortgage can genuinely save you money. The lower initial rate and lower starting payment are real financial benefits that make the ARM an attractive option when buyers are trying to make monthly payments work in the current rate environment. For the right buyer in the right situation an ARM can be a smart and well-reasoned choice.
But most buyers who are drawn to that lower payment are focused on the wrong question and that mismatch is where ARM decisions consistently create problems that could have been avoided with a better conversation upfront.
The Question That Actually Determines Whether an ARM Makes Sense
Most buyers look at the ARM payment and ask whether they can afford it today. It fits the budget. It qualifies for the home they want. The affordability problem the higher fixed-rate payment was creating gets solved and everyone moves forward.
The question they should be asking is what happens if that payment goes up later.
An ARM offers a fixed rate for an initial period of five, seven, or ten years. After that period ends the rate adjusts based on market conditions at the time of each adjustment. If rates have fallen the payment improves. If rates have risen the payment increases and depending on how much the market has moved and what the loan's adjustment caps allow that increase can be meaningful.
A buyer whose budget had no cushion to absorb a payment increase is in a genuinely difficult financial position when that first adjustment arrives.
Why Modern ARMs Are Not What Most People Fear
The association between adjustable-rate mortgages and the 2008 housing crisis leads many buyers to dismiss ARMs entirely without understanding how substantially the product has evolved.
Today's ARM products include caps that limit how much the rate can increase at each individual adjustment and over the entire life of the loan. Borrowers must qualify under strict lending guidelines using documented income. The worst-case scenario is defined and calculable rather than open-ended and unlimited.
That does not eliminate risk. It means the risk is bounded and can be fully understood and planned around before any commitment is made.
When an ARM Is a Smart Strategic Choice
As John Cobain explains an ARM can be a strategically sound choice when it is paired with a clear and realistic plan for what happens before the adjustment period ends.
If you know with reasonable confidence that you will sell the home before the fixed period expires you may capture years of lower payments without ever experiencing a rate adjustment. If you anticipate refinancing into a fixed-rate product when rates improve or your financial situation changes the ARM provides a lower payment in the interim. If you plan to make significant principal reductions during the fixed period you can reduce the outstanding balance to a level where a future rate adjustment produces a much smaller payment impact.
All of those are legitimate strategies. What they share is that they are actual plans with a defined path rather than hopeful assumptions about how things might work out.
When an ARM Creates Genuine Risk
An ARM becomes genuinely dangerous when it is used solely to squeeze into a home that would otherwise be unaffordable and there is no plan for what happens when the rate adjusts.
If the ARM payment is the only payment that qualifies and there is no realistic path to selling, refinancing, or paying down before the adjustment the lower starting payment is creating false affordability that may not survive the first rate reset. A buyer who is already stretching their budget with no financial cushion and no exit strategy is taking on risk that could produce serious financial hardship when the market moves.
Three Numbers to Ask Your Lender to Show You
Before committing to any ARM product ask your lender to show you three specific numbers. The starting monthly payment under the initial rate. The maximum possible payment under the worst-case adjustment scenario given the applicable caps. And the projected payment after the first adjustment assuming rates stay roughly where they are today.
Those three numbers give you a complete picture of the range of outcomes the ARM could produce. Making the decision with that full picture in view is fundamentally different from making it based only on the attractive starting payment.
The ARM is not the problem. Not understanding how it works and what it could cost before you sign is the problem.
John Cobain works with buyers to evaluate ARM versus fixed-rate options clearly and identify which product actually fits each buyer's goals, timeline, and specific plan. Follow along for more mortgage tips buyers need before they sign and reach out to John Cobain to discuss which loan structure makes the most sense for your situation right now.
Sources
ConsumerFinancialProtectionBureau.gov
FannieMae.com
Investopedia.com
MortgageNewsDaily.com
BankRate.com
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