Refinance Mortgage Options
for Dallas, Austin, Houston, San Antonio, TX & Beyond
If years have passed since you purchased your home it is likely you have experienced many changes. Interest rates may have risen and fallen. Your income may have adjusted upward or downward. Your goals may have changed. With enough changes, your original mortgage may no longer be ideal. However, there are refinance mortgage options available to help. By refinancing your mortgage, you may be able to save money and better meet your goals.
Whether you own a home in Dallas, Houston, Canyon Lake, Timberwood Park, Hornsby Bend, Cross Mountain, McQueeney, Waring, Grey Forest, Wylie, TX, or the surrounding communities, our mortgage broker can help you determine if refinancing is right for you.
Benefits of Refinancing Your Mortgage
As an experienced mortgage broker, Stonebriar Mortgage can help walk you through the home refinance process. When you refinance your home, here are some of the advantages that you can potentially look forward to:
- You might qualify for a more competitive interest rate, saving money every month.
- You can switch to a longer or shorter loan term, or between a fixed and adjustable interest rate.
- It might be possible to renegotiate certain mortgage terms or even change from one type of mortgage to another.
Is It the Right Time to Refinance?
There are many different situations where refinancing your mortgage could be the right move. If any of the below examples are applicable to your situation, it may be beneficial to schedule a consultation to discuss all of your options with a member of the Stonebriar Mortgage team.
We’ve worked with homeowners located throughout the state of Texas including Dallas, San Antonio, Lost Creek, Hunters Creek Village, Spring Valley Village, Barton Creek, Parker, Austin, TX, and beyond.
- Are you on a fixed interest rate which is now higher than the going market rate? A refinance today could bring that interest rate down to one which is competitive today.
- Are you on an adjustable interest rate which is ballooning? If you want to put a hold on the process and give yourself more financial stability, you could adjust to a fixed interest rate by refinancing.
- Are you just barely paying your monthly bills with nothing left over for savings? If you are in a situation where your income has decreased, you can refinance to give yourself more years to pay off your loan, resulting in lower monthly payment requirements.
- Do you want to pay off your mortgage early? One way to potentially get around prepayment penalties is to reduce your loan term through refinance. In some situations, this may be less expensive than paying the penalties.
- Do you want to stop paying for PMI? If your current type of loan is one which requires PMI payments but you might now qualify for a different type of loan which does not, a refinance can save you quite a bit of money every month.
- Has your borrower profile improved? If you have had improvements to your income, DTI ratio or credit score, refinancing now could give you access to a more competitive mortgage overall.
- Do you want to consolidate your loans? Refinancing may be your ticket to streamlining your monthly payments and reducing your overall interest.