Texas law allows you to refinance 100% of your present mortgage or if you wish to receive cash from the equity in your home, you may refinance up to 80% of the current appraised value.
Refinancing is one of the ways to possibly save a lot of money. What you’re doing is replacing your current mortgage with one with better terms for you! Refinancing can allow you to have a lower rate and therefore having lower monthly payments.
We offer mortgage refinancing for San Antonio and throughout Texas including:
Refinance loans can be used to lower your current interest rate or help with many personal financial situations such as home improvements, reducing monthly payments, college tuition and more.
There are two options when it comes to refinancing your home.
Rate Term Refinance
Cash Out Refinance
A no cash-out refinance is also known as a 'rate and term refinance'. It is the refinancing of an existing mortgage for an amount equal to or less than the existing outstanding loan balance plus an additional loan settlement cost. It is done primarily to lower the interest rate charge on the loan and/or to change the term of the mortgage.
Cash-out refinances in San Antonio are a popular way for borrowers to access the equity in their homes to pay down consumer debt or make additional purchases. Borrowers need to make a risk-based assessment of whether extracting equity from a home is economical. Borrowers also need to be aware that refinancing a mortgage has costs, including the fact that the lender may charge a higher interest rate on a cash-out refinance than a rate-and-term refinance.
Many times we are able to roll your closing cost into the new loan! Generally costs between 3% and 6% of the loans principal.
When trying to figure what all the closing cost are going to be, it is best to obtain a Good Faith Estimate (GFE) from your Mortgage Broker. That way you can see a breakdown of all the fees that are being charged.
We are located in San Antonio, Texas and are Licensed Mortgage Broker and a VA Approved lender and have been specializing in VA Loans throughout Texas since 2002.
We can help you accomplish your home purchase or home refinance with expert service, fast closing and very low fees.
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We are located in San Antonio, Texas and are Licensed Mortgage Broker and a VA Approved lender and proudly boasts an A+ rating from the Better Business Bureau.