home refinance

A Better Loan for You

Loans > Home Refinance

When Should I Refinance?

There are several reasons why a homeowner might look to refinance.  Some of these reasons include lowering of the current loan rate, removing PMI, shortening the term, getting cash back to consolidate bills or make home improvements, removing someone from the deed/note, etc. Some homeowners even opt for a combination of these reasons to refinance.  To learn more about how a refinance might benefit you, please call our office today.  Our loan officers are standing by and ready to assist! You can also begin your application below.

Sure, you may love your home. It is in the wonderful, great State of Texas, after all.

But maybe you don’t love your home loan from another lender. We can fix that. And here at Crystal Clear Mortgage, our promise is in our name. We work to make everything about refinancing your mortgage crystal clear for you.

Tips for a Crystal Clear Home Refinance

Wondering if you should refinance your home? Here are some things to think about.

1. You can take cash out.
  • The state of Texas allows a homeowner to access up to 80% of their primary residence appraised property value for cash out home loans.  Investment property and secondary home cash out loans are also available.  Taking cash out can be beneficial for a number of reasons, including consolidating high interest bills, creating a reserve account, home improvement, etc. Taking cash out of your home is the cheapest way to access your money!
2. You can get a lower home payment.
  • If current mortgage rates are lower than your current mortgage rate, we can refinance you and save you money each month.  Maybe even shorten your term and save you money.  We also understand that life can happen, and maybe you are on a 15 year term and need the lower payment of a 30 year option.  We can help with that , too.
3. You could shorten your loan term.
  • Refinancing from a long term mortgage to a shorter term can save you thousands of dollars of interest payments over the life of the loan.  The higher payment might not be for everyone, but the savings are incredible.  Call us today to explore this option!
4. You can change the type of mortgage you have.
  • Maybe you are on an FHA loan that carries high PMI and you want to switch to a conventional loan with no PMI?  Sometimes a loan product that was right for you at the time you purchased your home, may not be the best product for your situation today.  Call our experts today to discuss your options.
5. You can get a better rate.
  • Maybe rates have dropped since you purchased or last refinanced? Perhaps your credit situation has improved allowing for better rates to be offered to you from when you purchased.  If you think you can benefit from a lower rate, it pays to call!
6. Don’t skip the inspection.
  • No matter the home’s age, always get a home inspector to inspect the property.