Loan Program
Refinance and Cash-Out Refinance
Refinancing is not only a falling rate move.
Overview
What this program is for.
A rate and term refinance is about the payment and the total interest you will pay. A cash-out refinance is about turning equity into capital for renovation, debt payoff or the next purchase. They deserve separate analysis, and both get run before either is recommended.
Texas has its own rules on cash-out refinancing of a homestead, so the structure matters here more than in most states. Model a new payment in the calculator, send it over, and it gets priced against what is actually available today.
Highlights
Refinance & Cash-Out at a glance.
Rate and term
Lower the monthly payment or shorten the term.
Cash-out
Access built up equity for renovation, debt payoff or another goal.
Break-even math
See how long it takes for the refinance to pay for itself.
An honest no
If the numbers do not work yet, you will be told that.
How It Runs
The same four steps, every file.
01. Pre-Approval
A real pre-approval tells you your range, makes your offer credible to a listing agent, and sets the file up to move fast.
02. Loan Application
A defined document list, given to you once and up front, not drip fed as a series of surprise requests.
03. Underwriting
Your file is reviewed and conditions are cleared as they come in. You are told where it stands rather than left guessing.
04. Closing
Documents are drawn and sent to the title company, and you sign. Closing on time is the commitment.
Also Consider
Related programs.
First-Time Buyers
A real pre-approval, and someone who explains every decision before you have to make it.
Learn more →Conventional Loans
The standard on most Texas purchases, and often the cheapest once you have equity or strong credit.
Learn more →FHA Loans
Lower down payment and more forgiving credit guidelines, backed by the federal government.
Learn more →
