Take advantage of low rates
Refinance your existing mortgage with the bank that doesn't sell your loans to Wall Street or Fannie Mae.

Ready to lower your payment or tap into your home equity?

Benefits of working with WaFd Bank
We keep your loan and don't sell it to Wall Street or Fannie Mae.
Our experts are standing by to help you with every step.
We are not paid on commission, so your needs come first.

Your neighborhood loan officer can help you get started

Save Up to $600 on Closing Costs With a Checking Account From WaFd Bank*

The Refinance Roadmap

Apply to reduce your monthly payments or get cash out from your lender.

Get initial approval of credit, income and assets, and determine home value to support your loan application.


Your lender will submit your final documentation to the underwriter for final approval. The underwriter follows the 3 C’s:

  • Credit History
  • Cash Flow / Income
  • Cash & Liquid Assets
  • Type of Property & Occupancy
  • Loan to Value

Complete the final approval steps from your mortgage lender.

Frequently Asked Questions

When should you refinance?
Conventional wisdom said that you should consider refinancing if you can drop your interest rate by about 20%. But be sure to look at what you owe before you refinance and compare it to your loan balance after refinancing. If you’re adding thousands to your mortgage balance, you may be negating any savings you would realize from a lower interest rate.
When will I begin to save money from a refinance?
To calculate when your finance will actually begin to save you money, take the total cost of your refinance and divide it by your monthly savings after you refinance. This will tell you how many months it will take to pay off the refinance. You will need to live in the property longer than the number of months it takes to payoff to actually realize any savings.
Can I invest my refinancing savings?

Mortgage refinancing can save you tens of thousands of dollars. If you're not strapped for cash, be sure to have a plan in place for the money you save from refinancing.

  • Will you invest in your child's education?
  • Do you plan to prepay your mortgage so you can pay off your loan early?
  • Are you going to add your monthly savings into a 401(K) or another retirement savings account?

Be sure to run some financial calculations to see just how much you can save, and have a plan in place for your savings to get the most out of your mortgage refinance.

* To qualify for the maximum $600 discount, before closing documents are prepared you must (1) have or open the WaFd checking account, (2) register for EZ-Pay from the new checking account, and (3) sign up for direct deposit of at least one form of a monthly recurring source of income.