Your estimated new payment next to your current one
Total closing costs
Your break-even point: how long it takes for monthly savings to cover the costs
How total interest changes over the life of the loan
Texas home equity rules
Cash-out refinances and home equity lines on a Texas homestead follow special rules in the Texas Constitution. We'll explain how they apply to you before you decide. See how the 80% rule works.
Refinance options
Rate-and-term refinance
Replace your current mortgage to change your interest rate, your loan term, or both, without taking cash out.
Lower your rate or monthly payment, or switch from an adjustable rate to a fixed rate
Shorten your term to pay off your home sooner
Conventional loans can go as high as 97% of the home's value on a qualifying primary home
Available for primary homes, second homes, and investment properties
FHA streamline refinance
Already have an FHA loan? A streamline refinance can lower your rate with less paperwork than a standard refinance.
For homeowners whose current mortgage is an FHA loan
It has to leave you better off, through a lower rate, a shorter term, or both. FHA calls this a net tangible benefit.
Usually no new appraisal, and no cash out
Your current FHA loan needs at least six payments made and at least 210 days since it closed
Texas cash-out refinance
Replace your mortgage with a larger loan and receive the difference in cash, for renovations, paying off higher-interest debt, or other goals.
On the Texas home you live in, it's a Texas home equity loan: all loans on the home combined can't exceed 80% of its value
Texas adds protections, including a 12-day waiting period before closing and a 3-day right to cancel afterward
Second homes and investment properties can go as high as 75% of the value with a conventional loan
Lower your monthly payment for the first year or two after you refinance. Your note rate doesn't change; the lender funds an account that covers part of each payment during the buydown.
2-1 buydown: you pay as if your rate were 2 percentage points lower in year 1 and 1 point lower in year 2
1-0 buydown: you pay as if your rate were 1 point lower in year 1
Lender-paid, on conventional rate-and-term refinances, fixed or adjustable, for primary and second homes
You qualify at the full note rate, and the buydown's cost is built into your loan's pricing. We'll show you the trade-off before you decide.
DSCR refinance for rental properties
Refinance or take cash out of a rental property using its rental income to qualify, instead of your personal income. More about DSCR loans.
DSCR is the property's gross rent divided by its monthly payment: principal, interest, taxes, and insurance
No personal income documents needed to qualify, and you can close in the name of your LLC
Credit scores from 640 and loans up to 80% of the property's value, depending on the program
Many DSCR loans have a prepayment penalty for the first 1 to 3 years. We'll show you the options.
Availability, loan-to-value limits, and credit requirements depend on the lender, your property, and your credit, and can change.
Let's look at your numbers together.
Call (817) 259-1972, schedule a consultation, or start your secure application when you're ready. Talking with us is free, and there's no credit check to get started.
