How to Pay Off Your Mortgage Faster

Paying Off Your Mortgage Faster Is Easier Than You Think!

The shorter the term on your mortgage, the lower your mortgage rate. Did you know that you can take advantage of today’s low rates by shortening the term of your loan? There are many options available to help you pay off your mortgage faster and save that extra money!

We have helped thousands of happy clients save money on their mortgage with a refinance and we can help you too. Check out our refinance calculator to see what a new rate and term can do for you.

Refinancing Programs that can Reduce Your Monthly Mortgage Payment

15-Year Fixed

Pay thousands less in interest by locking in today! A shorter loan term and a fixed interest rate both help you pay off your mortgage more quickly and build equity faster.

15-Year FHA

For those with less equity in their home or who are looking to close with less money, the FHA loan is the perfect choice. If you have built up equity, you may be able to refinance and get rid of a private mortgage insurance (PMI) requirement at the same time.

15-Year VA Loan

Great rates and measurable savings may be available if you are a military member or veteran seeking to refinance your home. A VA Streamline Refinance requires minimal or no closing costs and much less documentation than a regular refinance or an original home purchase.

Not sure which program is right for you? Contact one of our specialists today! Sammamish Mortgage Group can advise you on which mortgage refinancing program best meets your needs, and help you refinance quickly and without any headaches.

Want to Know How to Pay Off Your Mortgage Faster?

In addition to refinancing to shorten your term and lower your interest rate, there are more things you can do to pay off your mortgage faster!

Ask for a reamortization

Your amortization is your schedule of payments split into principal and interest from the day your loan starts to the day it ends. You can put a chunk of cash towards the principal and ask to have your loan reamortized. This can generally mean showter time to repayment if you keep the same payment amount.

Pay bi-weekly instead of monthly

If you pay half the amount of your mortgage payment every other week, at the end of the year you’ll have made a whole extra payment that can bring your total owed down. That’s because there are 26 two-week periods in a year, meaning 13 four-week periods. That last four week period is like an “extra month!”

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Working with Sammamish Mortgage

  • We put YOU first. We are committed to getting every client the very best possible deal every single time.
  • Sammamish Mortgage offers some of the most competitive rates in the Nation!
  • Fast and efficient, we close most of our loans in 30 days or less.
  • We offer a variety of loans. Sammamish Mortgage will find you the loan that is right for you!!!

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Mortgage Loans for the Pacific Northwest

Based in Bellevue, WA, Sammamish Mortgage has been in business since 1995, and we proudly serve customers in the Pacific Northwest region. Currently, we serve customers who are looking for homes in WA, ID, CO and OR. If you’re currently in the market for a home in one of these states, or you’re thinking about buying a home, we’d love to hear from you. Our team of mortgage professionals has a detailed knowledge of the real estate markets of the Pacific Northwest and is able to help customers navigate these markets. View our Mortgage Loan Programs InfoGraphic!

Reach Out to Sammamish Mortgage Today

If you’re either looking or thinking about buying a home in WA, ID, CO or OR, reach out to Sammamish Mortgage today. No matter what stage of the process you’re in, we can provide valuable information which can help you. Contact Us today to learn more, or View Rates to get a sense of what current mortgage rates look like. You can also get a Rate Quote personalized to your situation, or Apply Now to jump start the application procedure.

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Whether you’re buying a home or ready to refinance, our professionals can help.

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