Seattle Home Loan: Purchase A Home

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.

Fixed-Rate Mortgage

With an Adjustable Rate Mortgage (ARM), your monthly payment can be unpredictable and will eventually adjust – possibly to your detriment. By switching to a fixed rate mortgage, your loan rate and payment amount will stay stable throughout the life of the loan. These loans can be set for 15 or 30 years and offer greater security. Depending on your circumstances, a fixed-rate loan may be a good option for you.

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)

Adjustable-Rate Mortgage

This type of mortgage is also known as an ARM. Although and ARM is susceptible to fluctuations in interest rates, for many clients an ARM can be the smarter choice.

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

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

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.

Loan size will help determine the type of loan you’ll need. If you know how much you want to borrow, click the appropriate button below to learn more.

Less than $667,000 Conforming Home LoanMore than $667,000 Jumbo Home Loan

If you’re not sure how much you want to borrow, request a quote by clicking the button below or contact us today, and we’ll help you figure out the loan that fits your needs.

Why should I work with Jim?

Choosing an experienced mortgage professionalfor 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.

Often, buyers and homeowners can find more competitive rates and mortgage professionals with more experience by doing a little homework.

In our opinion, you owe it to yourself to call two or three alternatives to see if there is a more competitive rate available or if there is a professional you feel more comfortable with.

We all have our own individual tastes and preferences, and it’s just natural a person may ‘click’ with one person over another. A good rule of thumb: after doing a little homework, just go with your gut and listen to that little voice within.

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. Click the button below to get a no-obligation, mortgage rate quote today!

Get a No-Obligation Quote Now

Or, call us anytime at 206-799-9966 to discuss your options. Last-minute and weekend pre-approvals are no problem!

What other home loans do you offer?

Other Home Loans

For more information about the products we can help you with, choose a loan option below:

Traditional Loan

Traditional home mortgages for loans less than $506,000

Jumbo Loans

Jumbo mortgages for loans more than $417,000 (jumbo conforming loans) and for loans more than $667,000 (jumbo loans)

Refinance 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

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