Home Refinance
A Better Loan for You
You may love your home. It is in Texas, after all. If you do not love the loan on it, we can help you look at something better.
Talk with one of our 7 licensed loan officers in Montgomery. (936) 447-5626Meet the team
When should I refinance?
Homeowners refinance for lots of reasons: a lower rate, removing mortgage insurance, a shorter term, cash to consolidate bills or improve the home, or taking someone off the loan. Some do it for a mix of these.
Our promise is in our name. We work to make everything about refinancing your mortgage crystal clear, so you know what changes, what it costs and what you get before you commit. To learn how a refinance might help you, call the office or start your application online.
Tips for a Crystal Clear home refinance
Wondering whether you should refinance? Here are a few things to think about.
You may be able to take cash out.
Texas allows a homeowner to borrow up to 80% of a primary residence's appraised value on a cash-out loan. Cash-out loans on investment property and second homes are available too. People use the cash to pay off higher-interest bills, build a reserve or improve the home.
You may lower your monthly payment.
If today's rates sit below the rate on your loan, a refinance may lower what you pay each month. Life happens, too: if you are on a shorter term and need breathing room, a longer term may help.
You could shorten your loan term.
Moving to a shorter term usually means a higher payment, but it can cut the total interest you pay over the life of the loan. It is not for everyone, and we will show you both sides.
You can change the type of mortgage you have.
A loan that was right when you bought may not be the best fit today. Some homeowners move from an FHA loan with mortgage insurance to a conventional loan once they have enough equity.
You may qualify for a better rate.
Rates may have dropped since you bought or last refinanced, or your credit may have improved. Either can change the options available to you, so it pays to ask.
Thinking about borrowing against your equity without replacing your first mortgage? Compare a home equity line of credit.
Refinance questions
How do I know if refinancing makes sense for me?
It depends on your goal, how long you plan to stay in the home and what the new loan costs. A loan officer can put your current loan next to the options available today so you can compare them side by side.
Can I take cash out of my home in Texas?
Often, yes. Texas limits a cash-out loan on your homestead to 80% of the home's appraised value and has other rules about how and how often these loans close. Cash-out loans on investment property and second homes are also available. We explain which rules apply to your home before you decide.
Can refinancing remove my mortgage insurance?
It may. Some homeowners with an FHA loan refinance into a conventional loan once they have enough equity, which may remove mortgage insurance. Whether it works for you depends on your home's value, your balance and your credit.
Can I take someone off the loan when I refinance?
A refinance is one common way to remove a person from the loan, for example after a divorce. The borrower who stays on has to qualify for the new loan on their own.
What should I do before I refinance?
Gather your current loan statement, recent pay stubs and bank statements, and check your credit. Our checklist walks through the rest.
What is the Refinance Reservation?
You tell us the rate you are watching for, and a loan officer calls you if it becomes available. It is not a rate lock and not a commitment to lend.
Made the refinance process so easy and fast!!!! Pleasure to deal with!!!
Let's look at your loan
Start your application online, or call the office and talk it through with a loan officer first.
Rather write? Send us a note and we will get back to you.