Refinance Your Mortgage in Texas

Are you paying more in interest than you need to right now on your Texas home loan?

If rates have dropped or your borrower profile has improved, there is a chance you could be paying less in the near future. This might be the time to refinance your mortgage.

Benefits of Refinancing in Dallas

There are many different reasons to consider refinancing. Depending on your financial situation, you could look forward to one or more of the following advantageous outcomes:

  • You might be able to pay less each month in interest, saving money now and over the lifetime of your home loan.
  • If you are paying for mortgage insurance now, you might be able to stop after refinancing.
  • You might be able to get more time to pay off your mortgage (or less, if that is what you want).
  • You can switch the format of your interest rate (from fixed to adjustable, or adjustable to fixed).
  • You may be able to renegotiate for more competitive terms all around.

Is it the Right Time to Refinance in Texas?

It is the right time to refinance your mortgage if the benefits will outweigh the costs.

There are fees involved in processing a refinance which together add up to the closing costs. Anywhere from 1-5% of the total amount of the mortgage is typical.

A refinance may be the right move in any of the following scenarios:

When you have the chance to reduce your interest rate, and the amount you will save will more than offset the closing costs for the refinance.

When you are having a hard time managing your monthly payments, and want to extend the term of your loan.

When you plan to move in the near future, and currently have a fixed rate loan. The amount of money you could save by switching to an adjustable rate mortgage with a low introductory rate could be worth it.

When you have an adjustable rate mortgage with increasing interest, and you want to lock in a low, fixed rate.

When you have reason to believe you will qualify for a more competitive mortgage now than you did in the past.

When you have debts to consolidate.

Do You Qualify for a Texas Refinance?

When you apply to refinance your mortgage, your credit score, DTI ratio, and income will all be assessed, just as they were when you applied for your original home loan.

For certain types of mortgages, there is a minimum waiting period before you are able to refinance. That amount of time will need to have elapsed in order to apply successfully to refinance your home loan.

See What Our Clients Are Saying About Us!

tina trinh
tina trinh
02:38 08 Sep 22
Overall experience was awesome, team was amazing!!!!
Justin Gifford
Justin Gifford
22:38 21 Oct 21
Martha and Lane with New Frontier Financial were absolutely incredible! They bent over backwards to help me buy my first home and it was exactly what I needed. They took the time to explain each process, every question, and really showed me the ropes. At every obstacle they were a quick phone call away or in my corner to help!You won’t find a better team of people to help you through the home buying process!
Lauren Watson
Lauren Watson
00:32 24 Jul 21
They helped me with my loan earlier this year & it was the easiest process! They’re professionalism is outstanding. If you’re thinking about using this company, you should!
Justin Sandstedt
Justin Sandstedt
18:38 23 Jul 21
Martha was very helpful to me! Furthermore, she’s very easy to talk to and is very knowledgeable within her field of work. Totally recommend using this company to anyone!
vickie collier
vickie collier
17:42 20 May 21
Martha has done a tremendous job handling our refinance! She is a go getter and diligently works to accomplish the final product! I highly recommend her!
Michelle Brooks
Michelle Brooks
15:11 13 May 21
I recommend this company to anyone. They were able to navigate me through the purchase of my home & refinance. Both processes ran very smoothly. The staff is friendly and responds to phone calls and text very quick & kept me informed step by step.

Refinance Your Mortgage and Start Saving Now

To find out if you qualify to refinance your home today, please give us a call at (469) 886-8300. We can help you decide if this is the right time for a refinance, and connect you with a product that will save you money, enhance flexibility, and help you meet your financial goals.