Refinance your existing mortgage with the bank that doesn't sell your loans to Wall Street or Fannie Mae.
Refinance Made Simple
Want to lower your monthly mortgage payment, pay off your mortgage faster or pull cash out for that remodeling project? Apply to refinance online, where you can securely upload your documents and receive status updates in our secure portal. Our experienced loan officers guide you through every step of the process. If you’re already a WaFd home loan client, be sure to ask us about minimal or zero closing costs refinance and modification options. Remember, we will be here to help you long after you close your loan with WaFd Bank.
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.
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.
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.
Want more help? Come See Us
If you've done all your research but aren't sure whether refinancing makes sense, just stop by. We’re nearby, and we’ll sit down with you and answer any questions you may have.
* 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.