Mortgage Refinansing Help

Mortgage Refinancing Help: Washington

“It's better to follow the 2% Rule which suggests that you can enjoy the benefits of a home refinance if your mortgage refinance rate is 2% lower than that on your current loan. The interest savings will help you recoup the costs you've paid for the new loan provided you stay in the property for a certain period of time (break-even period). However, there are no-cost as well as low-cost refinance loans wherein the costs are included into the loan. But you can expect comparatively higher rates on such loans. Moreover, these loans are limited when the market is in a credit crunch. ”

Mortgage Refinancing Help: Business: Financial Services: Mortgages: Regional: United States: Washington (40)

When refinancing, don't take the first offer that comes around. Instead you should actively compare both interest rates and lenders.

Mortgage Refinancing Help: Washington (2010)

See also:

Prime One Mortgage »
Mortgage programs for all credit backgrounds specializing in purchase transactions, construction loans and jumbo loan programs.

St. Julien Home Loans »
Residential home mortgage lending in Olympia, Tumwater, Washington State.

Washington Association of Mortgage Brokers »
Offers broker listings, press releases and membership information.

Bell Financial »
Provides residential mortgage financing programs for Washington and California.

Triumphant Mortgage, Inc. »
Provides residential mortgage financing for Marysville and the state of Washington.

Northern Pacific Mortgage »
Offers home loans and re-financing of current loans in northwest Washington.

Pierce Mortgage, LLC »
Provides residential mortgage and finance services for Washington and Oregon.

Soundview Mortgage »
Mortgage broker specializes in all types of real estate financing in the state of Washington.

Willamette Mortgage Services »
A full-service mortgage brokerage providing home financing in Oregon and Washington.

1st Hand Mortgage, Inc. »
Provides residential and commercial mortgage financing for all of Washington.

Davison Financial Corporation »
Provides residential mortgage financing for Milton and all of Washington.

Loan Services, Inc. »
Provides mortgages to credit unions and their members in the Pacific Northwest.

Best Mortgage »
Offers real estate financing in Seattle, Washington.

Milestone Home Mortgage »
Provides residential mortgage financing for Tumwater and all of Washington.

Mortgage Master Service Corp »
Provides residential mortgage financing for Kent and the state of Washington.

Normandy Mortgage »
Provides residential mortgage financing for Seattle and all of Washington.

AmeriChoice Home Loans »
Provides on-line application and mortgage calculation tools as well as market and rate updates.

Lakeside Mortgage »
Provides residential mortgage financing for Sumner and the state of Washington.

WeGetYouApproved.com »
Providing residential mortgages and finance services for Vancouver and all of Washington.

Merit Mortgage »
Provides residential mortgage financing for Yakima and all of Washington.

Coastal Pacific »
Residential mortgage lender serving the state of Washington.

Sammamish Mortgage »
Specializing in residential mortgage financing throughout Sammamish, the east side, Seattle, and all of Washington.

First Mark Mortgage Company, Inc. »
Mortgage Broker with the authority to approve and fund your mortgage directly.

East Bay Mortgage, Inc. »
Regional mortgage company focusing on using mortgages as a key strategy to aid in overall financial planning. Located in Gig Harbor, Washington.

Advantage Mortgage »
Provides residential mortgage financing for King County and the state of Washington.

Mountain View Mortgage »
Provides residential mortgage financing for Kirkland and all of Washington.

U.S. National Mortgage Company »
Provides residential mortgage financing in the state of Washington.

First Option Mortgage Company »
Provides residential mortgage financing for Lakewood and all of Washington.

CLS Mortgage services »
Independent mortgage company offers a full line of mortgage programs in the Inland Northwest.

Absolute Financial Services »
Provides low mortgage rates and mortgage programs for home buyers, including first-time home buyers.

Seattle Mortgage Company »
Providing residential mortgage financing in the Pacific Northwest.

Magnolia Mortgage Co. »
Specializes in arranging mortgages for residential real estate.

Community First Mortgage »
Mortgage broker offers mortgage refinancing services to the Washington market.

Platinum Lending Ltd. »
Offering mortgage products and services to Seattle, Spokane, Kansas and the Northern Idaho areas.

Your Equity Services »
Provides residential mortgage financing for Issaquah and all of Washington.

Professional Mortgage »
Mortgage brokerage offers mortgage financing to the Washington market.

Haley Financial Services »
Provides residential mortgage financing for western Washington.

Pacwest Services »
Washington lender offers full-service mortgage services.

Madrona Mortgage, Inc. »
Provides residential mortgage financing for Lacey and all of Washington.

PLN Mortgage Services »
Provides residential mortgages for Seattle, the Eastside, and the Puget Sound region in Washington.

When refinancing a mortgage, as many as 30% of homeowner's cash out part or all of their home's equity. By investing in home improvements or paying off credit cards, this can be a smart. But, if you are borrowing more than 80% of your home's value, you will be hit with private mortgage insurance, costing you hundreds a year.

Carefully review the estimated closing costs. If you decide to lock in the rate, the lender will send you a "good faith estimate" of your closing costs within three days. Go over the numbers carefully, and compare them to the ones that appear on the final settlement statement (the HUD-1) from your previous mortgage.

Lenders like pristine credit reports. If you have a bunch of open credit card accounts that you never use (and who doesn't?), consider closing them. It will boost your credit score and make you a much more attractive borrower to a lender. Then, a month after you've closed your accounts, go over your credit report with a fine-tooth comb. It should read that the accounts were closed at your request. (You don't want lenders to think someone cut you off and that you're a bad credit risk.)

Weigh the costs carefully of how long you will be staying in your home vs. how much of a savings you will be getting in a refinance. Make sure you include closing costs in your decision.