Refinance Your Mortgage in Houston

Consider refinancing when interest rates drop 0.5-1% below your current rate, when your credit has improved significantly, when you want to access home equity, or when you want to switch from an ARM to a fixed-rate mortgage. We can help you run the numbers to see if refinancing makes sense for your situation.

Rate-and-term refinancing replaces your existing loan with a new one (lower rate or different term) without taking cash out. Cash-out refinancing lets you borrow more than you owe and receive the difference in cash—ideal for home improvements, debt consolidation, or investments. Cash-out refinances typically have slightly higher rates.

Standard refinances take 21-30 days from application to closing. Streamlined refinances (FHA Streamline, VA IRRRL) can close in as little as 15-21 days since they require less documentation and often no appraisal. Cash-out refinances may take 30-45 days due to additional underwriting requirements.

It depends on the loan type. FHA Streamline and VA IRRRL refinances don't require appraisals. Conventional and cash-out refinances typically do require an appraisal to verify your home's current value. Some lenders offer appraisal waivers for low loan-to-value conventional refinances with strong credit.

Refinance closing costs typically range from 2-5% of the loan amount ($4,000-$10,000 on a $200K loan). Yes, you can roll closing costs into your new loan amount if you have sufficient equity. Alternatively, you can choose a slightly higher interest rate in exchange for lender credits that cover closing costs (no out-of-pocket option).