HOMEOWNERSHIP.WA.GOV - Assistance from the State of Washington


Refinancing is a common step for many homeowners.

Depending on your situation, refinancing may lower your interest rate.

You may be able to secure a lower interest rate because of changes in the market conditions or because your credit score has improved. If you are thinking about refinancing, don't just look at your loan payments - look at the life of your loan as well. For example, refinancing with another 30-year mortgage may lower your monthly payment but it also means another 30 years of payments.

Making Home Affordable

Making Home AffordableThrough President Obama's Making Home Affordable program, Washington families whose loans are held by Fannie Mae or Freddie Mac may be eligible to refinance into a more affordable mortgage. Making Home Affordable Program

Traditional Refinancing

If you simply want to lower you monthly payment and your home value is steady or has increased, you may want to refinance your mortgage. You’ll go through an application, approval and closing process, similar to when you got your original mortgage. Your mortgage company will work with you through every step, and will help determine the best mortgage option for your specific needs.


  • Making Home Affordable
    The Making Home Affordable Program is part of the Obama Administration's broad strategy to help homeowners avoid foreclosure. The program offers loan modifications and refinancing options to eligible homeowners.
  • Refinancing Calculator
    A free refinancing calculator from bankrate.com to help you determine if you will save by refinancing.
  • A Consumer’s Guide to Refinancing
    A guide to mortgage refinancing from the Federal Reserve.