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206-766-8888
A Division of American Pacific Mortgage, 1850
TILA spelled T-I-L-A stands for the Truth in Lending Act, and
emphasizes our commitment to honest and ethical lending

Mortgage Refinance

Mortgage Refinance for Homes in Seattle, Bellevue and Bothell

How much money could you save monthly by refinancing your mortgage? Our Home Loan experts will help you refinance your home with a reduced interest rate.

  • We Make Refinancing Fast & Easy
  • Reduce Your Payments & Interest Rate
  • Consolidate Debt

Our experts will help you get qualified for a loan at a great rate.

      REVISED 03-26-12

Call 206-766-8888 now  for a free consultation or get a free rate quote by email. From Seattle to Tacoma, from Bellevue to Spokane, we serve all of Washington state.

Request Rate Quote Our Loan Process

A refinance refers to replacing the current home loan with a new loan that is secured on the same property but may have more favorable terms like rate and payment.. Refinancing does not eliminate current debt. It replaces the current debt obligation.

Refinance Loan Options

Let us help you select the right mortgage refinance product for your needs.

 

Loan Types Benefits Details
Fixed Rate Mortgage A mortgage in which the payment stays fixed over the life of the loan. Whether market rates change, this loan has the same payments from month to month. We have 10, 15, 20, and 30 year fixed-rate mortgages available with a no closing cost option.
Take advantage of near record low fixed mortgage rates. Learn More
Adjustable Rate Mortgage This type of mortgage loan is characterized by interest rates that adjust or fluctuate in concert with indexes. Generally an Adjustable Rate Mortgage (ARM) begins with an introductory/lower rate which then may rise or fall, but monthly payments may not exceed the ARM loan caps on annual and lifetime basis. We have 10/1, 7/1, 5/1 and 3/1 ARMs available. The first number (10 for example) is the length of the initial period, during which the interest rate is fixed. So, the interest rate on a 10/1 ARM will be fixed for the first 10 years. Learn More
HARP Mortgage (Home Affordable Refinance Program) Government program rolled out in 2009 to help customers refinance their house even if they owe more on their home than it is worth; thereby enabling quality consumers to take advantage of the record low interest rates. Must be current on mortgage in last 12 months; Current loan must have been sold to Fannie Mae or Freddie Mac prior to May 2009; Credit Score of 620 or better; Current LTV (Loan to value) at 80% or higher. Learn More
Jumbo Loans Type of mortgage loan that is above the conventional loan limits set by Fannie Mae and Freddie Mac. Used for higher priced homes and generally considered a higher risk loan for a bank. We have fixed rate and adjustable rate Jumbo loans available with a no Private Mortgage Insurance (PMI) option. Learn More
FHA Insured Loan Loans that are insured by the Federal Housing Administration and originated by approved FHA-approved lenders. These loans require a 3.5% down payment with options to finance most of the buyer closing costs. These loans are designed to assist borrowers who need help getting loan approval because of lower credit or limited down payments. An FHA loan is insured by the Federal Housing Administration. This loan program is considered when borrowers have a lower credit score or limited cash available for a down payment. Learn More
Real Estate Investor Loan Type of loan used for investment purposes as opposed to private residential. Often the property will be used for rental purposes, such as rental home, apartments or other spaces that give owners the opportunity to create profit and income over the long term. Borrow up to $650,000 per property. Income sources include rental, W2 and self-employment. Learn More
VA Loan Discounted home loans that are designed exclusively for military veterans to get a home refinance with little or no money out of pocket. Consumer may also be eligible for a IRRL (Interest Rate Reduction Loan) refinance that requires NO APPRAISAL and is easier to qualify. These loans are all guaranteed by the US Veterans Administration. If the borrower is currently serving in the military, National Guard or Reserve, or is a veteran or a surviving spouse of a veteran, borrower may be eligible for a Veterans Administration (VA) loan. Learn More
Home Improvement 203(k) Streamline Loan The FHA 203k loan program provides home buyers the opportunity to buy and fix up a property without exhausting their personal savings. Home buyers can purchase a property and include most costs to make required repairs or desired updates up to a total of $35,000. All of this with one simple thirty-year fixed rate loan. All work starts AFTER closing on the property. Finance up to an additional $35,000 into the mortgage to improve the home. Borrowers can quickly and easily tap into cash to pay for property repairs or improvements. Learn More
USDA Home Loan This Guaranteed Rural Housing Loan Program is offered through the U.S. Department of Agriculture. The program offers assistance to low-income and moderate-income rural residents whose income is equal to or less than 115% of the area median income. This program allows 100% LTV (Loan To Value) financing with a 30-year fixed-rate first mortgages in designated RHS (Rural Housing Service) areas. Home buyers are eligible for this program when other financial products are not suitable. Learn More

Why Refinance?

Reasons why a borrower would consider a mortgage refinance:

  • Better Interest Rate
  • Debt Consolidation
  • Reduce Risk
  • Free Up Cash

Details

  1. Reduced Interest Rate This could include lowering monthly payments or shortening terms (i.e. going from a 30 year loan to a 20 or 15 year loan).
  2. Debt Consolidation This typically takes the form of a consumer paying off other debts like credit cards, cars or lines of credit etc. and combining them into one bigger loan with one payment that is lower than the combined payments prior to the home refinance. Because rates on consumer debts are typically higher than home loans, the monthly savings are frequently significant.
  3. Reduce Risk An example of this would be to move from an Adjustable Rate Mortgage (ARM) Loan to a Fixed Rate Loan. Also, consumers have the option of making a lump sum payment towards the balance at the same time they refinance.
  4. Free Up Cash This type of loan is used when consumers have equity in their home which they can use for a variety of reasons. Some examples are paying off consumer debt, paying for college, down payment on another property or a personal asset like a car or boat.

Simplifying home mortgage refinance

If you’re thinking of refinancing your mortgage, speak to our experts. They offer complete and trustworthy advice on mortgage refinancing.

Whether it’s the technicalities that you don’t understand or simply need access to mortgage refinance loans, we do it at! Expert help is out there and it’s a click away. Connect with us for mortgage refinance online.

TILA Mortgage, Real Estate Loans, Bothell, WA