Steps in the Mortgage Process when you are Refinancing a Home (Updated for 2026)

November 10, 2015 by 19 Comments

Refinancing a home in WA

Steps in the Mortgage Process When You Are Refinancing a Home (Updated for 2026)

Refinancing your home mortgage can be a powerful financial move — whether your goal is a lower interest rate, shorter loan term, cash-out for home improvements, or debt consolidation. In today’s market, many homeowners are refinancing to lock in savings or access equity they built over years of ownership.

Here’s a clear, step-by-step guide to the refinance process, what to expect, and how to prepare for a smooth experience. [Read more…]

Filed Under: cash out refi, Closing Disclosure, Refinance, The Mortgage Process Tagged With: , , ,

Puget Sound’s Hot Real Estate Market is Good News for Refis

October 22, 2015 by Leave a Comment

mortgage-porter-sold-homeIt’s no secret the the Puget Sound region has been experiencing a very hot real estate market… so hot in fact that it may be causing some home buyers to feel a little burned from competing with multiple offers as well as renters contending with rapidly rising rents. Recently KOMO 4 News shared that that Seattle currently has the nations hottest housing market. This is not only good news for those who are wanting to sell their homes, it’s also good news for home owners who may benefit from a refinance.

[Read more…]

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What would you do with an extra $372?

March 13, 2015 by Leave a Comment

Money in pocket$372 is the average monthly savings that my clients who have closed on their refi’s so far in March. With higher appraised values, thanks to the hot real estate market driving up home prices, many clients are also eliminating mortgage insurance with their refi.

[Read more…]

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Delayed Financing: How Cash Buyers Can Access Equity After Paying Cash (Updated for 2026)

February 26, 2015 by 2 Comments

What is Delayed Financing Cash Out RefinanceEditors Note: This article on Delayed Financing has been updated for 2026.

Many homebuyers choose to pay cash to win a competitive offer or simplify the purchase process. But after closing, a common question comes up:

“Now that I own the home outright, how can I access some of that equity?”

That’s where delayed financing comes in.

Delayed financing allows buyers who purchased a home with cash to take out a mortgage shortly after closing — without waiting the typical 12-month seasoning period required for a cash-out refinance.

This strategy can be especially useful for buyers who want liquidity, flexibility, or the ability to reinvest funds after a cash purchase. [Read more…]

Filed Under: Investment Property, Refinance, Residential Purchase Tagged With: , , , ,

Lower FHA Mortgage Insurance + Low Mortgage Rates = FHA Streamline Refi’s

February 3, 2015 by 1 Comment

Money in pocketHUD recently reduced annual mortgage insurance premiums for FHA 30 year fixed rate mortgages by 50 basis points. The annual mortgage insurance premium is part of the monthly mortgage payment and 50 basis is a dramatic reduction. If you have a $400,000 loan amount, this is a monthly savings of $166.67 (400,000 x 0.50% divided by 12 months).

[Read more…]

Filed Under: FHA, Mortgage Insurance, Refinance Tagged With: , , ,

Refinancing can help meet your 2015 Financial Goals

January 6, 2015 by Leave a Comment

moneyclockmortgageporterToday’s lower mortgage rates can help home owners with their New Year resolutions. The obvious first benefit of refinancing is often the reduced mortgage payment (or reduced mortgage term). There are simple steps you can take after closing your refi that can make a significant financial impact on your life.

[Read more…]

Filed Under: Refinance

Money Saving Tips You Can Do Now for the New Year

December 4, 2014 by Leave a Comment

mortgageporterraiseThe other day, Get Rich Slowly published 14 Smart Money Moves to Make Before the End of the Year which I liked enough to share on my Facebook page and to also included here on my blog. 🙂  There are a couple “smart money moves” that are missing on this post that I would like to suggest for home owners.

[Read more…]

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How much does a bump in interest rates impact home buyers?

September 26, 2014 by Leave a Comment

Kate portrait 4I’m reading an article this morning, “When Mortgage Rates Rise”, which addresses something that I’m often asked and that I also addressed recently on post here. Essentially, the “experts” are predicting that we will mortgage rates trend higher to around the 5% range by mid to late next year. Historically, speaking, 5% is not a high rate… in fact, I’m sure I wrote a blog post about when mortgage rates dipped as low as 5% back around 2008 . Our “problem” is that we have become accustomed to fixed rates in the 3 to 4% range. Mortgage rates have been at artificially low levels for a long period. And I agree that we will see this end as the Fed continues to pull back their support of mortgage backed securities.

[Read more…]

Filed Under: Economy, Interest Rates, Refinance, Residential Purchase
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