Buying a home is one of the most important financial decisions you’ll make during your lifetime. Earnest money is at stake, and there is a firm, contracted closing date on the purchase and sale agreement. It is critical that you partner with a trusted Seattle mortgage planner who can guide you through the process.
At Seattle Mortgage Planners, we monitor files on a daily basis to ensure purchases close on time.
What kind of home loan do you need?
There are several different kinds of mortgages that you can consider for your home loan.
When to choose a 15-year fixed-rate mortgage:
- You want lower rates and a fewer years on your loan
- You can afford a higher mortgage payment
- You’re interested in building equity and less concerned about monthly payments and cash flow
When to choose a 30-year fixed-rate mortgage:
- You want or need a loan with easier qualification requirements
- You want consistent monthly payments
- You are planning to keep the home LONG TERM
- You want the maximum tax advantage (please consult a professional tax adviser for exact benefits)
ARMs typically offer a lower rate or payment than a fixed rate loan, making property ownership at a lower cost possible. Many ARMs won’t adjust for 7 or 10 years and most have annual rate caps which should be understood prior to choosing this option.
Jumbo Loans - Our Specialty
Unlike major banks that are limited to their own product set and rates, the Seattle Mortgage Planners team can choose from dozens of different lenders to find a lender that meets your needs — at rates often significantly below the national average.
Why should I work with Jim?
Choosing an experienced mortgage professional for your home purchase is absolutely critical. Don’t assume that your local bank or credit union has the mortgage experience to get you the most competitive rates available.
With a little homework, first-time home buyers and homeowners can find more competitive rates available and/or professionals you feel more comfortable with. In our professional opinion, find two or three alternatives before you decide!
Here are a few things that set us apart as your preferred Seattle home loan broker:
On-Time Closings and Experience
While handling your home purchase loan, we’ll be communicating with underwriters, processors, escrow agents, real estate agents, insurance agents, title companies, and most importantly, with you. There are tons of moving parts, but our experience allows us to set clear expectations from the beginning and to close purchases successfully and on-time, with minimal stress to our clients and their agents.
Excellent Customer Service
While rates can be fairly consistent from one lender to the next, there are vast differences in the knowledge and service levels of those you may work with. The key is to align yourself with someone who is an expert, pays attention to your needs, and most importantly, communicates with you throughout the process clearly and with no surprises.
Multiple Lenders Available to Get You a Competitive Rate
It’s also critical that you choose a professional who can shop the market for a great rate to meet your specific needs. Typically, banks and credit unions have only their products and their rates available.
Whether you are a first-time home buyer, buying-up, downsizing, building a home, purchasing an investment property or a vacation home, we have the experience to help make your dreams become reality. We look forward to working with you!
What other home loans do you offer?
For more information about the products we can help you with, choose a loan option below:
Traditional home mortgages for loans less than $506,000
Jumbo mortgages for loans more than $417,000 (jumbo conforming loans) and for loans more than $667,000 (jumbo loans)
Take advantage of a refinance loan to lower your interest rate or cash out equity
Home Equity Line of Credit (HELOC)
One of the smartest moves you can make is to have a no cost/low cost home equity line of credit (HELOC) set up for you, even if you don’t think you’ll need it.
If you have equity in your home, you have wealth on paper but are unable to tap it in an emergency. Once you have a HELOC in place, you have access to a pre-set amount if needed for any reason. Need to consolidate debt? Want to put holiday expenses on the line of credit instead of high interest credit cards? Have an emergency and need access to cash? Your payment is based only on what you have borrowed and the interest is typically deductible (check with your tax advisor).
It’s also a smart way to eliminate the need for a ‘bridge-loan’ if you are planning on buying another home. Simply write a check out of your line of credit!
We offer many products with varied rates, costs, and benefits. We look forward to customizing the right program for you.
Have more questions? Contact us or call 206-799-9966