June 22, 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.

Keith is Fantastic! He was a great help in getting our first home financed at such a good rate not to mention he stayed in contact to make sure we knew everything was on track and how the loan process works. Below summarizes some of the key attributes that make Keith so highly recommended. -Skilled & Professional. Ability to break down complex issues simply and explain them to laypeople. - I had a pre-existing pre-approval prior to being introduced to Keith and that he beat the rate of my bank by .25% - Excellent lines of communication with prompt return calls and available via text, email and phone even on weekends - Flexible schedule to accommodate my wife and my commitments - Ability to facilitate VA loans - Clear communication and no time pressure. Keith sat down with my wife and I and he took the time to explain everything in as great of detail as we wanted. Clear non-technical jargon for my wife whom is a nurse and detailed strategy and explanation for me, an accountant. - Excellent coordination between the lender, me, VA, etc. - Great website at http://themortgagereel… to give you weekly trends regarding how they are analyzing the market in regards to interest rates and housing trends. - Felt like I was dealing with a friend that sincerely cared about my deal and what was best for my family. Kept me up to date during the entire closing process, I never worried for a moment knowing that Keith and his team were on the job. -Discussed and provided support for repayment strategies to maximize my payments and facilitate paying my home off early. - Young, energetic and hungry to work for YOU.
Brian C.

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

Browse our blog posts in the Seattle Refinance category: