Mortgage Refinansing Help

Mortgage Refinancing Help: Texas

“There are literally thousands of mortgage companies all over the country. It is important that you choose a reputable one. Most reputable companies will be part of the Better Business Bureau or other community watchdog group. Good companies will also have websites that rank well on search engines such as Yahoo and Google. ”

Mortgage Refinancing Help : Business: Financial Services: Mortgages: Regional: United States : Texas (49)

Changing the term of your mortgage can help in several ways. First, if you were to refinance your current mortgage from 30 years to 15 years, you will accelerate the rate at which you pay towards principle each month meaning your house will be paid off quicker. Also, you will save an unbelievable amount of money in terms of interest because you would likely be taking 10 to 15 years off the life of your loan. Second, you can also refinance a 15 year mortgage to a 30 year mortgage. It seems like it might not make sense to do this, but if you have an immediate need to free up monthly cash-flow and you don't want to take out a home equity loan, this can work out to your benefit. When you take a 15 year loan and refinance it to 30 years you will have the same balance only the payments can be hundreds of dollars less than the 15 year loan. The only draw back to this is you will pay more in interest over the live of the loan.

See also:

John Shellington - Milestone Mortgage Corporation »
Milestone Mortgage Corporation - Offers home financing programs to the Houston/Galveston area.

Michael Inkman, Prime Lending »
Loan officer providing loans for purchase and refinancing in the North Dallas area.

Adam Mortgage »
Katy, TX based broker; includes loan officer information, programs, and payment calculator.

Financiers Mortgage Group »
Provides residential mortgage financing for Richardson and the state of Texas.

Texas Capital Mortgage »
Houston based company providing several types of mortgage options. Site offers resources, loan tools and information about all the loan types available.

Amerinet Mortgage »
A full service mortgage company dedicated to helping families in and around the Dallas/Ft. Worth area.

Guardian National Mortgage »
Provides residential mortgage financing throughout Texas.

First Southwest Mortgage »
Mortgages for purchases and refinancing of existing loans. Main offices in Austin, Texas.

Colonial National Mortgage »
Providing residential mortgage services with branches across Texas.

American Property Financial »
A San Antonio based mortgage brokerage providing single family, mobile home and construction loans.

Vision Mortgage Company, Ltd. »
Lending packages include traditional, non-traditional, construction, and commercial.

Millennium Mortgage Services Corporation »
Provides residential mortgage financing with branch offices located in Carrollton, Texas.

Legacy Reverse Mortgage »
A Dallas based lender providing reverse mortgage loans to Texas residents age 62 and older. Site has useful tools and information about the mortgage process.

John Parker - Supreme Lending »
Supreme Lending - Specializing in VA loans throughout Texas.

Megamerica Mortgage Group, Inc. »
Providing mortgage loan products and services for Texas, Mississippi and Oklahoma.

Davis-Penn Mortgage Co. »
Provides specialty loans for commercial and investment property for all of Texas with main offices located in Houston.

RealHome Financial Services »
Providing mortgage loans and online application.

RMC Vanguard Mortgage Corp. »
Provides residential mortgage financing with main offices located in Houston, Texas.

Advantage Residential Mortgage »
Providing residential mortgages for all of Texas. Site contains mortgage information and tools; based in Irving.

Mortgage Associates of Texas »
Providing mortgage and finance services with main offices located in Houston, Texas.

Select Mortgage Inc. »
Providing residential and commercial mortgage loans with offices in Austin and San Antonio.

Wallstreet Banker »
Specializing in fixed-rate only loans. Site offer frequently asked questions, a credentials page, testimonials and online applications; based in Houston.

LC Mortgage Corporation »
Reverse mortgage specialist for homeowners 62 or older; based in Houston Texas.

City Mortgage »
Provides residential mortgage financing for Houston and all of Texas.

Optima Mortgage Corp. »
Provides residential mortgages with main offices in Houston, Texas.

Griffin Financial Mortgage »
Specializing in reverse mortgages with main offices located in Fort Worth, Texas.

Paramount Mortgage »
Personalized lending solutions including conventional, FHA, VA, and Jumbo loan programs. Offices in Denton and Fort Worth.

Summit Lending Group »
Providing mortgage information and all types of residential mortgages with offices in Dallas and Tyler.

SMI Residential, Inc. »
Dallas based company providing residential loans. Site offers staff profiles, loan resources and general mortgage information.

Houston Capital Mortgage »
Provides residential mortgage financing with corporate offices locating in Houston, Texas.

Continental American Mortgage »
Providing residential mortgage financing services across the state.

America's Mortgage Company »
Provides residential and commercial mortgage services for all of Texas. Main offices located in Houston.

American Mortgage »
Providing residential mortgages throughout Texas. Site offers various tools and resources for borrowers. Main offices located in Houston, TX.

Mission Mortgage of Texas, Inc. »
Mortgage banker provides residential mortgage services in Central Texas.

Ascot Mortgage Services, LLC »
Providing residential mortgage financing in Texas with corporate headquarters located in Dallas.

The Money Center, Inc. »
Provides residential and commercial mortgages with main offices located in The Woodlands, Texas.

Neider Mortgage Company »
Mortgage lender offers mortgage financing in Houston, Texas.

First Houston Mortgage, LTD »
Specializing in mortgages for the Conroe area. Site has FAQs, resources and an online application.

Allied Mortgage Capital Corporation »
Provides residential mortgage financing throughout Texas. Corporate offices located in Houston.

Southern Lending Corporation »
Based in Houston, offering a wide variety of residential mortgage services. Site contains resources, tools, online applications and company information.

Gold Financial Services »
Provides residential mortgage financing in the state of Texas.

Lenders Residential Mortgage »
Provides residential mortgage financing with branch offices in Dallas, Texas.

Dominion Mortgage Corporation »
Mortgage broker offers loan prequalification and access to a network of lending resources providing non-traditional lending options.

Home Source Mortgage »
Serving all of Texas, site offers information about mortgage options as well as videos discussing real estate and mortgage topics. Based in Georgetown.

TransNet Mortgage Corporation »
Information on qualifying for loans, credit scoring, calculators, online loan application and credit repair; Based in Duncanville.

Morris Mortgage Co. »
Provides residential mortgage financing with main offices located in Lubbock, Texas.

Home Loans Houston »
Home loans for the greater Texas area including refinances, FHA, VA, conventional, fixed, and first time buyer.

Calvert Mortgage Corporation »
Provides residential mortgage financing for Houston and the state of Texas.

Cornerstone Mortgage Company »
Provides residential mortgage financing throughout the state of Texas.

Weigh the costs carefully of how long you will be staying in your home vs. how much of a savings you will be getting in a refinance. Make sure you include closing costs in your decision.

Refinancing a mortgage means the owners are paying off their existing mortgage and replacing that mortgage with a new loan. Generally, the costs associated with mortgage refinancing are rolled into the loan, meaning they are added to the existing balance, increasing the loan amount.

If there is a big difference between the initial interest rate and the APR listed in the ad, it may mean that there are high fees associated with the loan.

It's better to follow the 2% Rule which suggests that you can enjoy the benefits of a home refinance if your mortgage refinance rate is 2% lower than that on your current loan. The interest savings will help you recoup the costs you've paid for the new loan provided you stay in the property for a certain period of time (break-even period). However, there are no-cost as well as low-cost refinance loans wherein the costs are included into the loan. But you can expect comparatively higher rates on such loans. Moreover, these loans are limited when the market is in a credit crunch.