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Randy Gelhaus (PrimeLending) Mortgage and Lending

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Randy Gelhaus
location_on Bremerton, WA — PrimeLending
Get to Know Randy Gelhaus
Visit our Website at: www.RandyGelhaus.comFor all your Seattle area Mortgage needsContact Randy Gelhaus at (360)373-9100 x225
Customers first

Borrowers who are happy with the mortgage loan we helped them get are more important to us than anything else. Our goal is to make the loan process as simple and worry-free as possible. We pride ourselves in offering the highest level of customer service, and appreciate the opportunity to earn your business. Whether you want to refinance for a lower mortgage rate, get a new home mortgage, home equity loan or second mortgage, our purpose is to satisfy your needs. By putting you first, we assure you a pleasurable transaction.

Get fast answers

At our website you can find tools available to answer virtually any mortgage question. Trying to decide if now is a good time to refinance? Check out our Refinance Mortgage Calculator. Wondering if a new home equity loan or second mortgage can lower your monthly payments? Use our Debt Consolidation Mortgage Calculator! Confused by all the loan programs from which to choose? Our Loan Program page will help you find the right type of loan for you. Also, we'll be happy to prepare a personalized mortgage quote for the home mortgage program of your choice.

About Us

Customers First:

We pride ourselves on providing superior customer service and creating satisfied customers. We work hard to satisfy the mortgage needs and exceed the expectations of our customers.

Lower Mortgage Costs Through Cutting-edge Mortgage Origination Technology

Our customers save money and close their loans quickly because we employ the most advanced mortgage technology available. In a rush? We welcome you to try our mortgage calculators! The Internet, advanced mortgage processing software, and automated mortgage underwriting systems are coordinated to speed the mortgage process and deliver the best rate and terms.

Highest Quality Mortgage Services

From mortgage processing and underwriting, to loan closing and funding, our expert mortgage staff will efficiently expedite your entire transaction. We'll keep you informed every step of the way. We're committed to building rewarding, long-term customer relationships. With that in mind, you'll receive the highest quality mortgage services.

Meeting Every Challenge

We rapidly respond to new opportunities made available in today's dynamic mortgage markets. As a result, the requirements of our mortgage customers are consistently met through mortgage underwriting flexibility and delivery of unique mortgage programs. We often identify niche mortgage programs that are essential to satisfying individual mortgage customer needs.

FHA

 

FHA's Title II, Section 203(b) mortgage insurance program is the most commonly used. The program allows a borrower to purchase a new or existing one- to four-family home in an urban or rural area. The program has been essential in helping low- and moderate-income families become homeowners for two reasons. First, the program lowers some of the costs associated with obtaining a mortgage. Second, because lenders are insured against default, they can take greater risks by lending in situations which fall outside of conventional standard underwriting guidelines. FHA charges mortgage insurance premiums for these loans. The premiums are used to pay lenders in the event of the borrower's default on the mortgage. The borrower pays an up-front mortgage insurance premium (MIP) and an annual premium. The up-front premium can be financed into the loan. The Mutual Mortgage Insurance Fund is sustained entirely by borrower premiums. Currently, the up-front MIP is 2.25 percent of the base loan amount, or 1.75 percent for a qualified first-time homebuyer. The monthly premium is 1/12 of 1/2 percent of the outstanding principal loan balance. Unlike Private Mortgage Insurance (PMI), which can be cancelled, FHA mortgage insurance lasts for the life of the loan. MIP is also generally more expensive than PMI. Any Unused MIP is refunded when the loan is paid off.

VA

The U.S. Department of Veterans Affairs guarantees loans made by institutional lenders to eligible veterans. The guarantee helps protect the lender in the event of the borrower's default. The VA charges a funding fee for each loan, which varies with the amount of the down payment and the status of the borrower (reservist/active duty/veteran). The funding fee may be included in the loan amount.

The funding fee for veterans is 2 percent for purchase or construction loans with down payments of less than 5 percent, refinancing loans and home improvement/repair loans.
The funding fee for veterans is 1.5 percent for purchase or construction loans with down payments of at least 5 percent but less than 10 percent

Certifications
Purchasing

Owning your own home provides several benefits. In addition to the satisfaction of being a homeowner, you can build equity, enjoy tax deductions, say "good bye" to your landlord and take control of your living environment.

Whether you are a first-time home buyer, renter, or are purchasing a new or second home, we have an assortment of tools and loan programs to meet your individual financing needs. Use our easy-to-navigate site, or contact us by phone today.

We can help you realize your homeownership dreams by offering you all the best advantages:

- Low Rates - Easy Online Application - All Types of Mortgage Programs- Guidance and Advice From an Experienced Loan Professional

Determine how much you can borrow and buy with our pre-qualification calculator.

You can beat the competition and negotiate more effectively when you're pre-approved. Apply online now to be pre-approved.

See how your equity and security can grow as a homeowner. Compare the benefits of owning vs. the cost of renting with our Rent vs. Buy Calculator.

Refinance

Find out if now is the right time to refinance! You may be able to lower your monthly payments or reduce the time it takes to pay off your loan. You may also be able to save even more if you use your refinance proceeds to pay off credit card or other installment debt, since mortgage interest is usually 100% tax-deductible, and interest on consumer debt is not.. Here are some important reasons to consider refinancing:

- Get a lower mortgage rate and reduce interest costs.- Convert an adjustable rate mortgage to a secure, fixed-rate mortgage.- Consolidate your first and second mortgages into a mortgage with a lower rate.- Get cash for family wants and needs.
The advantages we offer you for your refinancing needs include:

- Low rates - Easy online application - All types of mortgage programs- Guidance and advice from an experienced loan professional

Ready to refinance your current mortgage? Apply online to be pre-approved for the loan you want.

Find out if now is the right time for you to refinance your current mortgage to lower your monthly payments, pay of your mortgage faster, take cash out, or combine your first and second mortgage.


Home Equity Loans

 

A Home Equity Line of Credit (HELOC)

A Home Equity Line of Credit is like a credit card. You can borrow money up to your credit limit, and you only get charged interest on the portion that you borrow. You can pay down the balance, then reuse the credit. Most have a draw term, usually 5 to 10 years, where you can draw money out, then the loan is paid back over a 10 to 15 year period. You may also elect to refinance the Equity Line and get another 5 to 10 years to use the line of credit.

You choose what you want to do with your home equity line of credit:

Remodel your home Take a vacation Consolidate bills Buy a car, boat or RV Finance tuition or other expense Use it as an emergency fund

There are many features of HELOC loan programs. Ask your Loan Officer to help you decide which is best for you.

Great Rates: rates can be below the prime rate on some programs. No Loan Fees: No appraisal fee or closing costs. Convenient Closings: Some programs allow doc signing in your home. Credit lines or maximum loan limits vary with each program. Pricing varies with the LTV. Accessing the cash in your credit line can be done by writing a check, charging on a credit card or making a withdrawal at a financial center. Many of these programs have an early termination fee. Some programs may offer a fixed rate loan option feature, where you can lock in a fixed rate on all or a portion of your outstanding balance. Pricing is based on your Credit Score. These cutoff limits are fairly strict, so if your score is just below the next higher range, you may want to discuss how to improve your score with your loan officer.

A HELOC is usually 100% tax-deductible*, and a smart way to consolidate debt, pay for home improvements, new automobiles, student loans or even vacations or weddings.

 

Home Equity Fixed Rate Loan

You may prefer a home equity fixed rate loan compared to a HELOC. Home equity fixed rate loans offer a wide variety of amortization periods (length of time to pay it back), more choices for people with less-than-perfect credit, fixed rates so your rate can never go up and the interest paid may also be tax-deductible*!

 

* It is recommended that Customers consult their tax advisor. Not all loan fees or interest payments are tax deductible.

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I live where you live and I work where you work. As a home owner in Bremerton, I can relate to all your Bremerton, Seattle - Tacoma area Real Estate financing needs. Call or email me today!