If you haven’t refinanced in the last 5 years, you need to read this eBook
It’s no big secret that interest rates are lower today than they have been for years.
You may have an opportunity to save many thousands of dollars by refinancing your mortgage.
Rates are constantly on the move, so you should determine as soon as possible whether a refinance makes economic sense for you. This book will help you decide whether you should proceed with a new, lower rate mortgage.
The interest rate you will pay on a mortgage has dropped significantly.
The equity in your home will be higher as a result of housing market price increases.
When you refinance your mortgage solely to reduce the rate or to improve the terms of your mortgage, you are doing a “rate and term refinance.”
This means that your goal is not to take cash out of your home’s equity. Refinancing from a 30-year loan into another 30-year loan with a rate .5% lower than your present rate would be one example of a rate and term refinancing. Switching from an adjustable rate mortgage to a fixed rate would be another. Refinancing from a 30-year loan into a 15-year loan would be another.
When you refinance to pull some significant amount of cash out of your equity, you are doing a “cash out refinance.” The rate on this type of refinance will be approximately .125% higher than for a rate and term loan.
Your loan may be considered a cash out refinance even though you may not receive any cash at closing. If you presently have a second mortgage or Home Equity Line Of Credit (HELOC) in place and you got the second loan after you bought your home, a new loan to pay off both loans will be a cash out loan even though you receive no cash at closing.
A lender looks at your property as security for the loan they will give you. They are always concerned about the Loan To Value Ratio (LTV). The LTV is the loan amount as a percentage of your home’s appraised value.
The total value of the mortgage.
What your home is appraised for.
The Loan To Value Ratio
If the appraiser says your home is worth $500,000 and you are looking for a $400,000 loan, your LTV is 80% ($400,000 is 80% of $500,000). When you begin a refinance, you want to be confident that your home’s value will support the loan you want.
The only sure way to find out the appraised value is to have your loan officer order an appraisal. This will cost around $500—and you’ll pay for the report in advance.
If you have any doubts about your property’s value, you can get a Home Valuation Report (HVR) from Sammamish Mortgage at no cost to you before paying for the full appraisal. The HVR is not a substitute for a full appraisal, but the HVR can give you some insight in advance about your home’s value.
Every real estate transaction—sale, purchase or refinance—involves certain costs.
Among these costs are title and escrow fees, appraisal, underwriting, document preparation, recording and notary. These are the non-recurring closing costs. This means that they happen only once, because of your refinance. The nonrecurring costs are the actual cost of the loan.
There is another category of closing costs: the Prorations and Prepaids. These closing costs are prorated interest, property tax installment (if one is due) and impound account funding.
Title and escrow fees, appraisal, underwriting, document preparation, recording and notary.
Prorated interest, property tax installment (if one is due) and impound account funding.
Includes both non-recurring and prorations and prepaids.
The last item will apply if you plan to pay your property taxes and homeowner’s insurance monthly, along with your mortgage payment. It is also called an “escrow account.” You’ll make an initial deposit to the account so that there will be adequate funds to pay property taxes and insurance when they fall due.
The amount to fund the new impound account depends on when you will make your first payment. It could be as much as 8 months’ property taxes. This is actually still your money; it is just deposited with the lender and earmarked for taxes and insurance.
You should also understand how mortgage interest works. When you refinance, you will typically skip one payment, and sometimes two payments. Although this may seem like a free ride, it isn’t; the lenders—the old lender you’re paying off and the new lender—will still get interest on their money for every day you have it.
When you make a mortgage payment, you are paying interest for the previous month (“interest in arrears”). If you close escrow on your new loan on September 15, for example, your first payment won’t be due until November 1.
That payment will cover interest on the new lender’s money for the month of October; but you will have had the use of their money from September 15 to the end of the month: 15 days. Your new lender will charge you interest on a daily basis (per diem) from the 15th to the end of the month.
You will also pay prorated interest on the old loan when you pay it off.
Using this same example, you would make your last payment to your old lender on September 1. That covers the interest on the “old” money for August; but you’ll have that money for 15 days in September, and they’ll charge you per diem interest from the first of the month until you pay them off—15 days.
You can add that prorated interest to your new loan to avoid having to write a check to close escrow. Even though you’re getting some cash out of the transaction indirectly (because you didn’t have to make the October payment), the lender won’t consider this to be a cash out refinance.
If your loan will have an impound account, you can also add the initial deposit to your new loan. You will receive a refund of your old impound account about two weeks after you pay off the old loan.
Your credit score (commonly referred to as the FICO score) influences the rate you’ll be able to get on your new loan. If you have a score of 740 or higher (generally regarded as “good” credit), you’ll get the best rate.
If your credit report shows a few late payments and other non-good information (we hate to use the term “derogatory”), the FICO score will be lower. A borrower with a 620 score will still qualify for a loan—but the rate will be about .625% higher.
If you have any concerns about your credit score, your Sammamish loan officer will advise you on the ways you can raise your score—and save money in the process.
Is it worth refinancing? There have been various “rules of thumb” over the years that have claimed, “If you can’t reduce your rate at least X percent, it’s not worth refinancing. Like many generalized “rules,” this one is not helpful—and can cost you money.
Here is the best way to look at a refinance transaction.
First, you should think of it as an investment. Although you may not make a cash investment, you will be using some of the equity in your home to pay the nonrecurring closing costs.
You should answer two questions about your refinance:
You can answer the first question by dividing the non-recurring costs by the amount you are reducing your monthly payment. If the costs amount to $3,600 and your monthly payment drops $300, you’ll reach that “break-even” point in about 12 months ($3,600 divided by $300 = 12 months).
One caution: the reduction in your monthly payment is not your actual money saved.
Your payment drops in part because of “re-amortization.” If your present loan is 4 years old, you have 26 years remaining on its term. If your new loan has a 30 year term (4 years longer than your present loan), part of the payment reduction comes from stretching out the term by four years. More about this later, but for now, this calculation will give you a quick idea of when that break-even point will occur.
The second question—how much money you actually save—is a little more complicated. You can do a very rough calculation by multiplying the monthly payment reduction by the time frame (let’s use 60 months, or 5 years), then subtract the closing costs.
If your refinance costs $3,600 and your payment drops $300 a month, your approximate net savings after 5 years would be $14,400 ($300 x 60 – $3,600 = $14,400). This rough calculation can give you an idea whether you’ll save enough to satisfy your goals.
Your loan officer can give you an accurate picture of the money you can save by refinancing.
There are ads all over the airwaves about “No Cost, No Fee!” loans.
This may seem too good to be true, but it is just another approach to a refinance.
Here’s how a “no-cost” loan really works.
First, you should be aware that almost all mortgages are sold to investors—the “secondary mortgage market.” You have no doubt heard of Fannie Mae and Freddie Mac. These two mortgage giants buy loans from banks, which make a small profit on each loan when they are sold. The investors pay more for loans with higher interest rates.
The lender gets more money for the higher rate, and passes that additional money on to the borrower in the form of a rebate. If you are getting a $400,000 loan, you could get a $4,000 rebate by selecting a rate .25% higher.
If an interest rate of 3.6% had no lender rebate, opting for a 3.85% rate could get you a $4,000 lender rebate—enough to offset your non-recurring closing costs. The difference in monthly payment between these 2 rates would be around $55.
If you plan to pay the loan off earlier than four years, a no-cost loan could save you some money.
Be aware, though, that the higher monthly payment could add up to a higher cost if you were to keep the loan over the long term. Be sure to discuss your plans in detail with your Sammamish loan officer.
Mortgages take more time today than they did just a few years ago. Some of the recent rules and regulations inject delays into the process, and all lenders are more careful today to be sure every single document in the loan package is just what it should be.
After you complete your loan application, many other people spring into action behind the scenes.
The title company will open an escrow file and begin inspecting the title of your property. An appraiser will make an appointment to view your property and take photos in preparation for your appraisal. Appraisers deliver their reports in about a week—sometimes more or less, depending on their workload.
Once the underwriter has reviewed your file, you will get a conditional loan approval. The “conditional” aspect of the approval means that there may be some other documents to provide. There may be routine questions about the appraisal, for example; or the underwriter may ask for clarification about notations on your paystub.
When the underwriter has signed off all the conditions, we will send you the Closing Disclosure (CD). This document shows all the final numbers for your loan. Once you have received the CD, you must wait three business days before you can sign loan documents.
You’ll sign your loan package with a notary, who will acknowledge your signature. Then, if you are refinancing your residence (rather than an investment property), you’ll have to wait three business days more (“rescission period”) before the loan can close escrow.
If you sign loan documents on Thursday, for example, the rescission runs from Friday to Monday at midnight (Saturdays count, Sundays and Holidays don’t) and the loan would fund on Tuesday.
If you are still wondering whether a refinance will help you, it’s time to call Sammamish Mortgage. You should have a recent statement from your current mortgage showing your current balance, interest rate and monthly payment not including taxes and insurance. If you have any concerns about the value of your home, ask for a Home Value Report.
Do you have questions about home loans or refinancing? Are you ready to apply for a mortgage to buy a home? If so, Sammamish Mortgage can help. We are a local mortgage company from Bellevue, Washington, serving the entire Colorado state, including Boulder, and its many amazing neighborhoods like Whittier, Mapleton Hill, Foothills, and Longmont. We offer many mortgage programs to buyers all over the Pacific Northwest and have been doing so since 1992. Contact us today with any questions you have about mortgages.
Updated at 2021-06-22
Definitions and key terms
Types of Information We Collect
Information collected directly from you:
Information Automatically Collected
Manage Your Information
You can make the following choices regarding your Personal Information:
Note that, as required by law, in order to process your request, we will require you to prove your identity. Depending on your request, we will require, at minimum, you to provide your name, phone number, and email address.
Sharing of Information
When you use certain of our Services, we may use your location data to provide you with location-based offers through Google Local Services. Some features within our Services may only function upon confirmation of your location, and therefore such features will not be available if you choose not to provide your location data. Depending on the platform you use to access our Services you may be able to control whether location data is collected from with the controls on your device.
Social media plug-ins of social networks such as Facebook, Twitter, and LinkedIn (among others) may be integrated on the Services. Where the Services contain a plug-in to a social network, these are clearly marked (e.g. with a Facebook button). If you chose to click on one of these buttons or links, your browser connects directly to the servers of the relevant social network. The social network directly transmits the content of the plugin to your browser. If you are registered on the relevant social network and logged into your respective account the social network receives the information that the web page was used by you. If you interact with a social network plug-in (e.g. you press the Facebook "Like" –feature, the Twitter "Tweet this" feature or equivalent) or drop a comment on the appropriate web page, the corresponding information is directly transmitted to the relevant social network from your browser. If you are not registered with the social network or you are logged out before you visit the Services, there is the possibility that at least your IP address will be submitted to and stored by the social network. If you interact with us through a social media platform, plug-in etc. then you may be permitting us to have on-going access to some limited information from your social network profile (such as name, email address, photo, gender, location, the people/sites you follow etc.).
Other Disclosures With Your Consent
Other Disclosures Without Your Consent
We may disclose information to comply with relevant laws, including in response to subpoenas, warrants, or court orders. We may also share your information to establish or exercise our rights, to defend against a legal claim, to investigate, prevent, or take action relating to possible illegal activities, suspected fraud, safety of person or property, or a violation of our policies.
Sale of Business
Links to Other Websites
This website may contain third-party advertisements and links to third-party sites. Sammamish Mortgage does not make any representation as to the accuracy or suitability of any of the information contained in those advertisements or sites and does not accept any responsibility or liability for the conduct or content of those advertisements and sites and the offerings made by the third parties. Advertising keeps Sammamish Mortgage and many of the websites and services you use free of charge. We work hard to make sure that ads are safe, unobtrusive, and as relevant as possible. Third-party advertisements and links to other sites where goods or services are advertised are not endorsements or recommendations by Sammamish Mortgage of the thirdparty sites, goods or services. Sammamish Mortgage takes no responsibility for the content of any of the ads, promises made, or the quality/reliability of the products or services offered in all advertisements.
Cookies for Advertising
These cookies collect information over time about your online activity on the website and other online services to make online advertisements more relevant and effective to you. This is known as interest-based advertising. They also perform functions like preventing the same ad from continuously reappearing and ensuring that ads are properly displayed for advertisers. Without cookies, it’s really hard for an advertiser to reach its audience, or to know how many ads were shown and how many clicks they received.
Blocking and Disabling Cookies and Similar Technologies
Wherever you’re located you may also set your browser to block cookies and similar technologies, but this action may block our essential cookies and prevent our Websites from functioning properly, and you may not be able to fully utilize all of its features and services. You should also be aware that you may also lose some saved information (e.g. saved login details, site preferences) if you block cookies on your browser. Different browsers make different controls available to you. Disabling a cookie or category of cookie does not delete the cookie from your browser, you will need to do this yourself from within your browser, you should visit your browser’s help menu for more information.
We do not address anyone under the age of 13. We do not knowingly collect personally identifiable information from anyone under the age of 13. If you are a parent or guardian and you are aware that your child has provided us with personal Information, please contact us. If we become aware that we have collected personal Information from anyone under the age of 13 without verification of parental consent, we take steps to remove that information from our servers.
The California Consumer Privacy Act (CCPA) requires us to disclose categories of Personal Information we collect and how we use it, the categories of sources from whom we collect Personal Information, and the third parties with whom we share it, which we have explained above. We are also required to communicate information about rights California residents have under California law. You may exercise the following rights:
If you make a request, we have one month to respond to you. If you would like to exercise any of these rights, please contact us. For more information about these rights, please contact us. Request to Not Sell for California Residents You may submit a request to us to not sell your Personal Information, which will be effective for 12 months [add url to specific website called “Do Not Sell My Personal Information” that allows consumers to opt out of the sale of personal information
California Information Sharing Disclosure
California Civil Code Sections 1798.115(c), 1798.130(a)(5)(c), 1798.130(c), and 1798.140 indicate that organizations should disclose whether the following categories of personal information are collected, transferred for “valuable consideration,” or transferred for an organization’s “business purpose” (as those terms are defined under California law). The table below indicates the categories of personal information we collect and transfer in a variety of contexts. Please note that because this list is comprehensive, it may refer to types of information that we collect and share about people other than yourself, for instance for those people that utilize our Rates and Money website.
|Category of Personal Information||Is information collected by us?||Is information transferred for valuable consideration?||Is information trasferred for business purposes?|
|Audio, electronic, visual, thermal, olfactory, or similar information||☐||☐||☐|
|Bank account number||☑||☐||☑|
|Commercial information (e.g., products or services purchased, or other purchasing or consuming histories or tendencies)||☐||☐||☐|
|Credit card number||☑||☐||☑|
|Debit card number||☑||☐||☑|
|Driver's License Number/ State ID||☑||☐||☑|
|Electronic network activity (e.g., browsing history)||☑||☐||☑|
|Health insurance information||☐||☐||☐|
|Identifiers (e.g., name or alias)||☑||☑||☑|
|Insurance Policy Number||☐||☐||☐|
|Online identifier (e.g., IP address)||☑||☐||☑|
|Other financial information||☑||☑||☑|
|Social Security Number||☑||☐||☑|
Don’t hesitate to contact us if you have any questions.
By clicking “Submit” (or whatever the action button says) I am agreeing to receive phone calls, SMS (text messages) and emails from
Sammamish Mortgage SMS Terms & Conditions
For all SMS Communications Reply HELP for help, Reply STOP to cancel. Message & Data Rates May Apply.
Compatible carriers include: AT&T, T-Mobile®, Verizon Wireless, Sprint, Boost, U.S. Cellular.
Alerts sent via SMS may not be delivered if the mobile phone is not in range of a transmission site, or if sufficient network capacity is not available at a particular time. Even within a coverage area, factors beyond the control of the wireless carrier may interfere with message delivery, including the customer's equipment, terrain, proximity to buildings, foliage, and weather. The wireless carrier does not guarantee that alerts will be delivered and will not be liable for delayed or undelivered messages.
To discontinue receiving SMS messages from
About These Terms
This Agreement is a contract between you and Sammamish Mortgage (referred herein as “Sammamish Mortgage”, “us”, “we” or “our”) and the services accessible from the Websites (which are collectively referred to in the Agreement as the “Services”). Sammamish Mortgage includes the Services provided on our Rates and Money website discussed below.
If you do not agree to this Agreement, please do not use the Services. In the Agreement, “you” refers both to you as an individual and to the entity you represent. If you violate any of this Agreement, we reserve the right to cancel your account or block access to your account without notice.
Sammamish Mortgage grants you a revocable, non-exclusive, non-transferable, limited license to download, install and use its website (https://www.sammamishmortgage.com/ and https://www.ratesandmoney.com/ (the “Websites”) strictly in accordance with the terms of this Agreement.
You agree not to, and you will not permit others to:
- License, sell, rent, lease, assign, distribute, transmit, host, outsource, disclose or otherwise commercially exploit the website or make the platform available to any third party.
- Modify, make derivative works of, disassemble, decrypt, reverse compile or reverse engineer any part of the website.
- Remove, alter or obscure any proprietary notice (including any notice of copyright or trademark) of Sammamish Mortgage or its affiliates, partners, suppliers or the licensors of the website.
Any feedback, comments, ideas, improvements or suggestions (collectively, “Suggestions”) provided by you to Sammamish Mortgage with respect to the website shall remain the sole and exclusive property of Sammamish Mortgage.
Sammamish Mortgage shall be free to use, copy, modify, publish, or redistribute the Suggestions for any purpose and in any way without any credit or any compensation to you.
Links to Other Websites
This Agreement applies only to the Services. The Services may contain links to other websites not operated or controlled by Sammamish Mortgage. We are not responsible for the content, accuracy or opinions expressed in such websites, and such websites are not investigated, monitored or checked for accuracy or completeness by us. Please remember that when you use a link to go from the Services to another website, this Agreement is no longer in effect. Your browsing and interaction on any other website, including those that have a link on our platform, is subject to that website’s own rules and policies. Such third parties may use their own cookies or other methods to collect information about you.
Changes To the Agreement
You acknowledge and agree that Sammamish Mortgage may stop (permanently or temporarily) providing the Services (or any features within the Services) to you or to users generally at our sole discretion, without prior notice to you.
If we decide to change this Agreement, we will post those changes on this page, and update the Agreement modification date.
Modifications to Our Websites
Sammamish Mortgage reserves the right to modify, suspend or discontinue, temporarily or permanently, the Websites or any Services to which it connects, with or without notice and without liability to you.
Updates to Our Websites
Sammamish Mortgage may from time to time provide enhancements or improvements to the features/ functionality of the website, which may include patches, bug fixes, updates, upgrades and other modifications (“Updates”).
Updates may modify or delete certain features and/or functionalities of the Websites. You agree that Sammamish Mortgage has no obligation to (i) provide any Updates, or (ii) continue to provide or enable any particular features and/or functionalities of the Websites to you.
You further agree that all Updates will be (i) deemed to constitute an integral part of the Websites, and (ii) subject to the terms and conditions of this Agreement.
Term and Termination
This Agreement shall remain in effect until terminated by you or Sammamish Mortgage.
Sammamish Mortgage may, in its sole discretion, at any time and for any or no reason, suspend or terminate this Agreement with or without prior notice.
This Agreement will terminate immediately, without prior notice from Sammamish Mortgage, in the event that you fail to comply with any provision of this Agreement. You may stop using the Services at any time. You do not need to specifically inform us when you stop using the Services. You acknowledge and agree that if we disable access to your account, you may be prevented from accessing the Services, your account details or any files or other materials which is contained in your account.
Upon termination of this Agreement, you shall cease all use of the Websites and delete all copies of the Websites from your computer.Termination of this Agreement will not limit any of Sammamish Mortgage’s rights or remedies at law or in equity in case of breach by you (during the term of this Agreement) of any of your obligations under the present Agreement.
Copyright Infringement Notice
If you are a copyright owner or such owner’s agent and believe any material on our website constitutes an infringement on your copyright, please contact us setting forth the following information: (a) a physical or electronic signature of the copyright owner or a person authorized to act on his behalf; (b) identification of the material that is claimed to be infringing; (c) your contact information, including your address, telephone number, and an email; (d) a statement by you that you have a good faith belief that use of the material is not authorized by the copyright owners; and (e) the a statement that the information in the notification is accurate, and, under penalty of perjury you are authorized to act on behalf of the owner.
You agree to indemnify and hold Sammamish Mortgage and its parents, subsidiaries, affiliates, officers, employees, agents, partners and licensors (if any) harmless from any claim or demand, including reasonable attorneys’ fees, due to or arising out of your: (a) use of the website; (b) violation of this Agreement or any law or regulation; or (c) violation of any right of a third party. You agree to indemnify Sammamish Mortgage in full for all claims, expenses, and damages related to or caused in whole or in part by your failure to notify Sammamish Mortgage if you change your telephone number, including, but not limited to, all claims, expenses, and damages related to or arising under the Telephone Consumer Protection Act. We reserve the right to assume the exclusive defense and control of any matter subject to indemnification by you and at your expense and, in such a case, you agree to cooperate with our defense of such claim. Further, you shall not settle any claim without the prior written approval of Sammamish Mortgage.
The website is provided to you “AS IS” and “AS AVAILABLE” and with all faults and defects without warranty of any kind. To the maximum extent permitted under applicable law, Sammamish Mortgage, on its own behalf and on behalf of its affiliates and its and their respective licensors and service providers, expressly disclaims all warranties, whether express, implied, statutory or otherwise, with respect to the website, including all implied warranties of merchantability, fitness for a particular purpose, title and non-infringement, and warranties that may arise out of course of dealing, course of performance, usage or trade practice. Without limitation to the foregoing, Sammamish Mortgage provides no warranty or undertaking, and makes no representation of any kind that the website will meet your requirements, achieve any intended results, be compatible or work with any other software, systems or services, operate without interruption, meet any performance or reliability standards or be error free or that any errors or defects can or will be corrected.
Without limiting the foregoing, Sammamish Mortgage does not make any representation or warranty of any kind, express or implied: (i) as to the operation or availability of the Websites, or the information, content, and materials or products included thereon; (ii) that the Websites will be uninterrupted or error-free; (iii) as to the accuracy, reliability, or currency of any information or content provided through the Websites; or (iv) that the Websites, their servers, the content, or e-mails sent from or on behalf of Sammamish Mortgage are free of viruses, scripts, trojan horses, worms, malware, timebombs or other harmful components.
Some jurisdictions do not allow the exclusion of or limitations on implied warranties or the limitations on the applicable statutory rights of a consumer, so some or all of the above exclusions and limitations may not apply to you.
Limitation of Liability
To the maximum extent permitted by applicable law, in no event shall Sammamish Mortgage be liable for any special, incidental, indirect, or consequential damages whatsoever (including, but not limited to, damages for loss of profits, for loss of data or other information, for business interruption, for personal injury, for loss of privacy arising out of or in any way related to the use of or inability to use the Websites, third-party software and/or third-party hardware used with the website, or otherwise in connection with any provision of this Agreement), even if Sammamish Mortgage has been advised of the possibility of such damages and even if the remedy fails of its essential purpose.
Some states/jurisdictions do not allow the exclusion or limitation of incidental or consequential damages, so the above limitation or exclusion may not apply to you.
If any provision of this Agreement is held to be unenforceable or invalid, such provision will be changed and interpreted to accomplish the objectives of such provision to the greatest extent possible under applicable law and the remaining provisions will continue in full force and effect.
Except as provided herein, the failure to exercise a right or to require performance of an obligation under this Agreement shall not affect a party’s ability to exercise such right or require such performance at any time thereafter nor shall be the waiver of a breach constitute waiver of any subsequent breach.
No failure to exercise, and no delay in exercising, on the part of either party, any right or any power under this Agreement shall operate as a waiver of that right or power. Nor shall any single or partial exercise of any right or power under this Agreement preclude further exercise of that or any other right granted herein. In the event of a conflict between this Agreement and any applicable purchase or other terms, the terms of this Agreement shall govern.
The Agreement constitutes the entire agreement between you and Sammamish Mortgage regarding your use of the Websites and supersedes all prior and contemporaneous written or oral agreements between you and Sammamish Mortgage.
You may be subject to additional terms and conditions that apply when you use or purchase other Sammamish Mortgage’s services, which Sammamish Mortgage will provide to you at the time of such use or purchase.
Updates to this Agreement
We may change our Services and policies, and we may need to make changes to these Terms so that they accurately reflect our Services and policies. Unless otherwise required by law, we will notify you (for example, through our Services) before we make changes to this Agreementand give you an opportunity to review them before they go into effect. If a revision is material we will provide at least 30 days’ notice prior to any new terms taking effect. What constitutes a material change will be determined at our sole discretion. Then, if you continue to use the Services, you will be bound by the updated Agreement. If you do not want to agree to these or any updated Agreement, you can delete your account.
The website and its entire contents, features and functionality (including but not limited to all information, software, text, displays, images, video and audio, and the design, selection and arrangement thereof), are owned by Sammamish Mortgage, its licensors or other providers of such material and are protected by United States and international copyright, trademark, patent, trade secret and other intellectual property or proprietary rights laws. The material may not be copied, modified, reproduced, downloaded or distributed in any way, in whole or in part, without the express prior written permission of Sammamish Mortgage, unless and except as is expressly provided in this Agreement. Any unauthorized use of the material is prohibited.
Applicable Law and Venue.
THIS AGREEMENT IS GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF WASHINGTON. NO CONFLICT OF LAWS OR PROVISIONS OF ANY JURISDICTION WILL APPLY TO THESE TERMS AND CONDITIONS. YOU AGREE THAT ANY ACTION AT LAW OR IN EQUITY ARISING OUT OF OR RELATING TO THESE TERMS AND CONDITIONS WILL BE FILED ONLY IN A STATE OR FEDERAL COURTS OF KING COUNTY, WA, AND YOU HEREBY IRREVOCABLY AND UNCONDITIONALLY CONSENT AND SUBMIT TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS OVER ANY SUIT, ACTION, OR PROCEEDING ARISING OUT OF THESE TERMS AND CONDITIONS. ALL DISPUTES MUST BE ADJUDICATED IN THE ENGLISH LANGUAGE.
Agreement to Arbitrate
This section applies to any dispute EXCEPT IT DOESN’T INCLUDE A DISPUTE RELATING TO CLAIMS FOR INJUNCTIVE OR EQUITABLE RELIEF REGARDING THE ENFORCEMENT OR VALIDITY OF YOUR OR Sammamish Mortgage’s INTELLECTUAL PROPERTY RIGHTS. The term “dispute” means any dispute, action, or other controversy between you and Sammamish Mortgage concerning the Services or this agreement, whether in contract, warranty, tort, statute, regulation, ordinance, or any other legal or equitable basis. “Dispute” will be given the broadest possible meaning allowable under law.
Notice of Dispute
In the event of a dispute, you or Sammamish Mortgage must give the other a Notice of Dispute, which is a written statement that sets forth the name, address, and contact information of the party giving it, the facts giving rise to the dispute, and the relief requested. You must send any Notice of Dispute via email to: [email protected] Sammamish Mortgage will send any Notice of Dispute to you by mail to your address if we have it, or otherwise to your email address. You and Sammamish Mortgage will attempt to resolve any dispute through informal negotiation within sixty (60) days from the date the Notice of Dispute is sent. After sixty (60) days, you or Sammamish Mortgage may commence arbitration.
If you and Sammamish Mortgage don’t resolve any dispute by informal negotiation, any other effort to resolve the dispute will be conducted exclusively by binding arbitration as described in this section. You are giving up the right to litigate (or participate in as a party or class member) all disputes in court before a judge or jury. The dispute shall be settled by binding arbitration in accordance with the commercial arbitration rules of the American Arbitration Association. Either party may seek any interim or preliminary injunctive relief from any court of competent jurisdiction, as necessary to protect the party’s rights or property pending the completion of arbitration.
Any award of the arbitrator or a majority of the arbitrators will be final and binding, and judgment on such award may be entered in any court having jurisdiction. This arbitration provision will be enforced and interpreted exclusively in accordance with applicable federal laws of the United States, including the Federal Arbitration Act. Any costs, attorneys’ fees or taxes involved in confirming or enforcing the award will be fully assessed against and paid by the party resisting confirmation or enforcement of said award.
This Agreement to Arbitrate will survive the termination of your relationship with us.
You and we agree that each of us may bring a Dispute against the other only on our own behalf, and not on behalf of a government official or other person or entity, or a class of persons or entities. You and we agree, if we are a party to the proceeding, not to participate in a class action, a class-wide arbitration, a claim brought in a private attorney general or representative capacity, or a consolidated claim involving another person’s use of the site or our services. You and we agree not to combine a claim that is subject to arbitration under this Agreement with a claim that is not eligible for arbitration under this Agreement. You and we agree to waive the right to a trial by jury for all disputes.
Sammamish Mortgage may, from time to time, include contests, promotions, sweepstakes, or other activities (“Promotions”) that require you to submit material or information concerning yourself. Please note that all Promotions may be governed by separate rules that may contain certain eligibility requirements, such as restrictions as to age and geographic location. You are responsible to read all Promotions rules to determine whether or not you are eligible to participate. If you enter any Promotion, you agree to abide by and to comply with all Promotions Rules.
Additional terms and conditions may apply to purchases of goods or services on or through the Services, which terms and conditions are made a part of this Agreement by this reference.
We, through the Services, may provide a venue through which you can obtain information and you can find third-party service providers, such as financial institutions (“Third-Party Providers”). We do not endorse or recommend the products or services of any Third-Party Provider and are not an agent or advisor to you or any Third-Party Provider. We do not validate or investigate the licensing, certification or other requirements and qualifications of Third-Party Providers. It is your responsibility to investigate Third-Party Providers. You acknowledge and agree that Third-Party Providers are solely responsible for any services that they may provide to you and that we are not liable for any losses, costs, damages or claims in connection with, arising from, or related to, your use of a Third-Party Provider’s products or services. You acknowledge and agree that you rely on your own judgment and your advisors in selecting any products or services offered by Third-Party Providers.
No Guarantee Relating to the Services Provided by Third-Party Providers.
We do not make any warranties or representations regarding the quotes, fees, terms, rates, coverage or services offered or made available by Third-Party Providers. We do not guarantee that quotes, fees, terms, rates, coverage or services offered by Third-Party Providers are the best available.
You hereby release us of any and all losses, costs, damages or claims in connection with, arising from or related to your use of a Third-Party Provider’s products or services, including any fees charged by a Third-Party Provider.
Requests for Quotes
We may share your information with third parties when you use the Rates and Money website to request a rate, quote, service, approval, or information from those third parties (a “Request”).
IF YOU SUBMIT A REQUEST, THIRD-PARTY PROVIDERS MAY CONTACT YOU DIRECTLY WITH QUOTES VIA MAIL, TELEPHONE, TEXT MESSAGE, FAX, EMAIL, AND OTHER MEANS OF COMMUNICATION. YOU MAY RECEIVE TELEMARKETING CALLS AS A CONSEQUENCE OF SUBMITTING A REQUEST THROUGH OUR SERVICES, EVEN IF YOU ARE ON THE NATIONAL DO NOT CALL REGISTRY OR ANY OTHER DO NOT CALL REGISTRY.
By submitting a Request, you are expressly consenting to the third party conducting any research necessary to provide you with information about your Request. Third parties may need to share your information to conduct such research to provide information that may assist in determining eligibility for credit card offers.
If you do not want third parties to conduct necessary research to provide you with a quote for your Request, then you should not submit a Request.
Sammamish Mortgage is not responsible for any content, code or any other imprecision.
Sammamish Mortgage does not provide warranties or guarantees.
Sammamish Mortgage is a distributor and not a publisher of the content supplied by third parties; as such, Sammamish Mortgage exercises no editorial control over such content and makes no warranty or representation as to the accuracy, reliability or currency of any information, content, service or merchandise provided through or accessible via the Sammamish Mortgage Service. Without limiting the foregoing, Sammamish Mortgage specifically disclaims all warranties and representations in any content transmitted on or in connection with the Sammamish Mortgage Services or on sites that may appear as links on the Sammamish Mortgage Service, or in the products provided as a part of, or otherwise in connection with, the Sammamish Mortgage Services, including without limitation any warranties of merchantability, fitness for a particular purpose or non-infringement of third party rights. No oral advice or written information given by Sammamish Mortgage or any of its affiliates, employees, officers, directors, agents, or the like will create a warranty. Price and availability information is subject to change without notice. Without limiting the foregoing, Sammamish Mortgage does not warrant that the Sammamish Mortgage Services will be uninterrupted, uncorrupted, timely, or error-free.
Don’t hesitate to contact us if you have any questions.
Email: [email protected]
Phone Number: (425) 401-8787
This Link: https://www.sammamishmortgage.com/
This Address: 3055 112th Ave NE Suite 203 Bellevue, WA 98004