July 23, 2017

Seattle Refinance

Seattle Refinance

Seattle Refinance

Why Choose To Refinance Your Seattle Home?

  • Improving Cash Flow / Reducing Monthly Payment
  • Cash-Out (for?)
  • Home Affordable Refinance Program (HARP)
  • Remodel / Renovation
  • Funding Children’s Education (This is cash-out…)
  • Divorce

Benefits of Refinancing Your Mortgage

One of the main benefits of refinancing is reducing your interest rate. A lower interest rate will affect the monthly payments, saving hundreds or thousands of dollars a year.

Many people refinance in order to obtain money for large purchases education or to reduce other consumer debt. This is done by refinancing for the purpose of taking equity out of the home referred to as a cash-out refinance. First, the home is appraised. Second, the lender determines how much of a percentage of that appraisal they are willing to loan. Finally, the balance owed on the original mortgage is subtracted. After that money is used to pay off the original mortgage, the remaining balance is loaned to the homeowner.

I have been a homeowner for many years. Due to favorable interest rates and conditions I asked Jason Ramos to assist me in refinancing. I have bought, sold and refinanced several times over the years. The process itself can be cumbersome and overwhelming as there are many paperwork and documentation requirements. This is just what I have come to expect from this process. By far the best experience I have had during a refinance was working with Jason. Quite frankly I never realized the process could be this pleasant and go this smoothly. What stands out for me is the excellent service and follow up he provided. Throughout the process he was there keeping me informed. Jason brought true customer service back to this experience. I highly recommend working with him!
David H, Bothell, WA

Before You Refinance Your Mortgage…

Refinancing can be a great financial move if it reduces your mortgage payment, shortens the term of your loan or helps you build equity more quickly. When used carefully, it can also be a valuable tool in getting your debt under control.

Before you refinance take a careful look at your financial situation, and ask yourself these questions:

1. How long do I plan to continue living in the house?

2. How much money will I save a month by refinancing?

Note that refinancing generally costs between 2 %-5% of the loan’s principal. It may take 1-3 years to reap the cost benefit with the savings generated by a lower interest rate or a shorter term. So, if you are not planning to stay in the home for more than a few years, the cost of refinancing may negate any of the potential savings. Always be cognizant of any way to mitigate debt, build equity, increase savings and pay off the mortgage. Taking cash out of your equity when you refinance doesn’t help you achieve any of those goals.

Are you considering refinancing your mortgage? We are your Seattle refinance experts! Give us a call!

Hire the Right Team…How can we Assist you?

(206) 219-3088

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