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Mortgage Refinancing Help
: Regional: North America: United States: Texas: Localities: S: San Antonio: Business and Economy: Financial Services
: Banks (9)
 If you plan on moving out of your existing home within the next few years, it may not be beneficial for you to refinance. Make sure you let your mortgage specialist know your future plans.
 Eisenhower National Bank »
Founded at Ft. Sam Houston, specializing in military banking in the US, Europe, and Asia. Information on products and locations.
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 Jefferson State Bank »
Offers Internet banking, telephone access to online and offline accounts, and other financial services.
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 Southwest Research Center Federal Credit Union »
Provides financial services to SWRI and SFBR employees and their family members.
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 Air Force Federal Credit Union »
Formerly Lackland FCU. Membership available to military personnel, as well as some civilians. Information on account types, rates, locations, and employment.
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 Broadway National Bank »
Includes contact and bank information, locations, and online banking.
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 Randolph-Brooks Federal Credit Union »
Federally chartered credit union providing financial services to a membership that includes military, civil service and select employee groups.
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 Frost National Bank »
Information on personal and business banking services, online account management, and branch and ATM locations.
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 San Antonio Federal Credit Union »
Serving employees and residents in San Antonio communities.
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 Clear Lake National Bank »
Offers information on financial and banking services.
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 If you want to make sure the interest rate your lender offers you is the rate you get when you close the loan, ask about a mortgage lock-in (also called a rate lock or rate commitment). Any lock-in promise should be in writing. Make sure your lender explains any costs or obligations before you sign.
Be Prepared. You'll probably be asked for more information and documentation after you submit your application, but before your loan is approved be prepared to document your income and assets. Answer any questions and fax documentation to your loan representative as soon as possible.
Refinancing may not be that useful if you have already used up 90% or more of your home value in taking out a mortgage or any home equity loan. You won't be able to get the best rates available in the market as when you refinance a 90% LTV loan, you will probably require a loan of that value or higher. This will be quite closer to being a 100% financing option and hence mortgage refinance rates will be comparatively higher. Moreover, 100% loans are hardly available in times of mortgage market crisis.
For both new buyers and refinancers, it's important to understand what a no-cost mortgage loan or a no-cost refinance loan really means. "No cost" does not mean that closing costs (also known as settlement costs) have been erased. It means that the closing costs will be factored into the interest rate associated with the loan. Of course, this also means that, all other things being equal, the interest rate associated with a no-cost mortgage will always be higher than one where the borrower pays the closing costs up front.
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