Seafirst Financial Services

Seattle & Wenatchee, WA

Make your move a little smoother

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There’s not many things more exciting than purchasing a new home.  But we’re not going to lie, it can also be stressful. From finding the perfect home, getting a loan, and then (cringe!) the actual move itself; finally crossing that finish line and falling into bed in your new home can feel like running a marathon.

With spring on it’s way and summer not far behind, we’re heading into some of the busiest times for home sales and purchases. We make it our goal to take the stress our of your financing, but there’s not a lot we can do to help when it comes to the dreaded task of moving.

If you think a move might be in your future,  here’s some tips to (hopefully) take away a bit of the stress and let you enjoy the excitement.

9 tips to make your move a little less stressful

5 Home Buying Myths Busted

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There are a lot of myths about buying a home that are easy to bust. Here are a few of the big ones:

1) I need a 20% down payment. This goes back to the days when lenders had far fewer options. Now, you can get a mortgage for as little as 1% down and still have a low monthly payment.

2) I have to dig up a lot of paperwork. A lot goes into qualifying you for a mortgage, but these days much of the verification process — like collecting pay stubs, bank statements and tax information — can be done automatically by your mortgage broker and lender.

3) It will take a lot of time. A good mortgage broker can take your application and give you a pre-approval letter in minutes. Many even let you do it yourself online.

4) My bank is the best place to get a mortgage. Banks don’t offer many mortgage choices. An independent mortgage broker in your local community can help you find the best options and the lowest rates.

5) I need to be “settled down” first. Even with a low down payment, monthly mortgage payments are often lower than rent prices. Plus when you buy a home, you’re paying yourself, not your landlord.

There are a lot of myths and misconceptions out there that could be keeping you from your dream home. If you have any concerns that have been holding you back, please just call us and ask!  There is no question too big, too small, or too silly. We’ve heard it all before!  And that one simple question may just put you on the path to home ownership!

Email Myles or give him a call today!

First time home buyer government programs in Seattle WA
First Time Home Buyer Government Programs in Wenatchee WA

Refinancing and Home Equity: What every homeowner should know

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Melissa heads up our Wenatchee office, and was recently asked to sit down for an interview with Nick McLean of Nick McLean Real Estate. They discussed a lot of valuable information for homeowners including refinancing, and and the different benefits and options you have when it comes to the equity in your current home. Check out what she had to say!

Looking for something specific? Here’s what topics (and when!) they covered:

  • 2:00 How Seafirst Financial Services can help you use the equity in your home to achieve different financial goals.
  • 5:00 Different ways to use the equity in your home.
  • 9:00 Refinancing versus getting a line of credit: The benefits of refinancing.
  • 12:00 Melissa explains why you shouldn’t forget about private mortgage insurance.
  • 15:00 Even more ways to use the equity in your home: help pay for college, new construction properties, and more.
  • 19:00 Melissa talks about adjusting the terms of your loan.
  • 21:00 What are the costs of refinancing?

As always, Myles is always happy to answer any questions you may have.  Give him a call at 206-315-9203.  Or stop in and visit Melissa at our Wenatchee branch! She would love to chat!

Let us do the work of your resolution

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It’s that time again! The time when we set our biggest goals and hopes for the New Year!

But be honest: how long do you make a real effort at your resolutions before giving up, or just simply forgetting?

Yep. Us too.

But what if we told you you could keep your resolution this year, with little effort on your part? That we’ll do all the hard work for your resolution, and you could sit back and reap the benefits?

If your resolution this year is to save more of your hard earned money, we may be able to do just that.

We’ve been looking through our files, and have found that we have a lot of clients who could save money with a refinance. How you ask?

  1. Interest rates have dropped since many loans have closed, and we have a lot of people who may qualify for a lower interest rate. You could be one of them!
  2. Home values in our state have been skyrocketing. Depending on the current value of your home, the loan-to-value ratio may have changed in your favor. That can result in lower interest rates, and/or no longer being required to pay mortgage insurance.

This can potentially reduce the amount of interest you pay over the life of your loan, and lower your monthly payment!

Voila!  A little more money back in your bank account.

We’re going to start reaching out to those that we believe could benefit, but if you don’t want to wait, give Myles a call now to find out!

One more thing.

What you do with that extra money is completely up to you, but keeping with the theme of New Years resolutions, we would like to make a couple suggestions that will benefit you in the long run.

  1. Set up an automatic transfer to your savings account, for the difference in your monthly payment. That way you won’t just spend away your newfound money! Twelve months from now, we bet you’ll be so happy you did!
  2. Keep making the same total mortgage payment as before, but apply those extra savings to principal. You’ll pay off your loan faster, and further reduce the amount of interest that you pay.

Happy New Year from all of us at Seafirst!

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