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Mortgage Refinancing Help: Financial Services
“The majority of your mortgage payment goes toward paying interest. To save an astounding amount of money over the long term, choose a mortgage loan with a lower rate and a shorter payback term. A 15-year mortgage may be just what the financial planner ordered. This type of loan carries a larger monthly payment; but if your budget can withstand the jolt, you can save big bucks over the long haul.
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Mortgage Refinancing Help
: Regional: North America: United States: Washington: Localities: T: Tacoma: Business and Economy
: Financial Services (17)
 Get your interest rate and closing costs in writing as soon as you decide on a lender to work with. Get your lender to give you a commitment in advance of all of the costs that will be involved with your loan. Find out if the refinance loan you are getting has a pre-payment penalty as well. Sometimes lenders will leave out important information like this, if they think it might scare you away from refinancing with them.
 See also:
 Sound Financial Concepts »
Independent agents providing services for financial, retirement and insurance planning.
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 Ozanich Insurance Broker »
An independent agent representing several insurance companies.
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 Harborstone Credit Union »
A Washington state chartered financial cooperative.
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 Dwyer Pemberton & Coulson, P.C. »
Accounting and consulting firm.
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 PAMEL, LLC »
Provides residential mortgage and finance services for Washington and Oregon.
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 First American Title - South Sound Division »
South Sound Division
- Providing title insurance and escrow services for residential and commercial title, settlement services and 1031 tax exchanges.
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 Jeff Baker & Associates, CPA »
Tax planning and preparation, investment review, financial and estate planning, record keeping and reports, business problem solving and computer consulting.
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 Propel Insurance »
Formerly Bratrud Middleton, providing commercial and personal insurance (for auto, home, yacht and RV) as well as surety/bonds and employee benefits.
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 Maddock and Associates »
Brokers who specialize in Washington medical insurance.
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 Stolz & Associates CPA, PS & Bayside Asset Management LLC »
A CPA firm and a registered investment adviser provide wealth management services to clients, including tax planning and preparation, personal and estate financial planning and asset management.
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 American Lake Credit Union »
A restrictive bond to VA hospital workers and military employees. Offers savings and loans details, ATM locations and contact details.
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 Sound Financial Concepts, Inc. - A Doug Holmes Company »
A Doug Holmes Company
- Personal and business insurance, retirement planning, and real estate financing.
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 Pilkey Hopping & Ekberg, Inc. »
Insurance brokers. Contains key employee profiles, description of commercial products offered, and list of companies represented.
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 Martinson, Cobean & Associates, CPAs »
Offering accounting, consulting, and planning services for businesses and individuals.
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 Columbia Bank »
A local community bank. Offers online banking, financial advice, rates, career opportunities, and a privacy policy.
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 Sound Credit Union »
Credit union with ten branches; includes branches and history.
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 Pierce Commercial Bank »
A provider of commercial services focusing on local businesses and professionals.
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 When you do a cash-out refinance you are leveraging the equity in your home in order to receive a lump sum of cash at closing. Many individuals and families use this type of loan if they want to remodel their home, or they have kids that are attending college soon. Veterans and other military personnel can now take advantage of a 100% cashout refinance thanks to the Veterans Benefits Improvement Act of 2008.
It is feasible to go for a refinance when you have built up at least 10% equity in your home (For Fannie Mae owned mortgages, the value is 5%). It is also possible for you to choose the option if your equity is less than 5%, but you may have to pay a certain amount of cash in order to make up for the difference in equity.
Short-term mortgages offer lower interest rates than long-term mortgages. You save money by the lower interest rates and shorter payment period. The trade off is a larger monthly payment, but this option can save you thousands.
If your property value reduces and you refinance up to 80% of the reappraised value, your original mortgage amount may be higher than this amount. Thus, the new loan will not be sufficient enough to help you pay down the existing one.
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