Refinance Your Seattle Home

Now is a great time to refinance! Whether you want to switch from an Adjustable Rate Mortgage (ARM) to a fixed-rate mortgage, want to take advantage of exceptionally low interest rates, wish to cash out some of your home’s equity to payoff debt or complete that remodel, we can help.

Your Options for a Refinance in Seattle

At Seattle Mortgage Planners, you’ll work with a single, experienced professional throughout the process who will clearly explain your options and take you through the entire refinancing transaction. We will work together to choose the refinancing option that is best for you.

Fixed-Rate Loan

If you have an Adjustable Rate Mortgage (ARM), your monthly payment can be unpredictable and will eventually adjust. With a fixed rate mortgage, you can count on the rate and your payment to remain stable throughout the life of the loan. Traditionally these loans can be set for 15 or 30 years. They offer greater security, and may or may not be the best option based on your circumstances.

Adjustable-Rate Mortgage Options for a Refinance in Seattle

This type of mortgage is also known as an ARM. While many clients feel more comfortable with a fixed rate mortgage, an ARM can oftentimes be the smarter choice for a consumer. Many ARMS do not adjust for 7 or 10 years and typically offer a lower rate or payment than a fixed rate loan, allowing a consumer to own property for a lower cost. Most ARMS have annual rate caps which should be understood prior to deciding on whether an ARM is the right choice.

When to choose a 30-Year Fixed-Rate for a Refinance in Seattle

• You want predictable, consistent monthly payments
• You want a loan with easier qualification requirements
• You’re planning to remain in the home LONG TERM
• You want the maximum tax advantage (a professional tax adviser should be consulted for exact benefits)

When to choose a 15-Year Fixed-Rate for a Refinance in Seattle

• You want lower rates and a shorter loan duration
• You can afford a higher payment
• You’re focused on building equity and less concerned about monthly payments and cash flow

Interest-Only Loans

This type of loan is most popular with homeowners who have irregular salaries and homes that are appreciating in value and who want the lowest possible payment. Qualified borrowers can make interest-only payments with the choice to make higher payments in order to reduce the principal. This loan is best for the more disciplined borrower who can make the choice each month what is the highest and best use of their capital.

Jumbo Loans- our specialty

Jumbo Loans typically come in larger amounts and have higher credit and down-payment requirements. Seattle Mortgage Planners specializes in this type of loan.

Many lenders have increased rates on jumbo loans in reaction to the economic downturn. Unlike the major banks that are typically limited to just their product set and just their rates, the Seattle Mortgage Planners Team can choose from dozens of different lenders and place you with the lender that best meets your needs— at rates often significantly below the national average. Potentially, we can obtain a loan that will save you thousands of dollars each year. We look forward to working with you and exceeding your expectations throughout the process!

Feel free to Contact Us online or Call 206-799-9966 for more on how to Refinance in Seattle