Refinance Your Texas Mortgage
Lower Your Rate, Shorten Your Term, or Access Equity
Rate & Term Refinance
Replace your existing loan with a new one at a lower rate or different term length.
Cash-Out Refinance
Borrow against your home equity and receive the difference in cash at closing.
Streamline Options
FHA Streamline and VA IRRRL programs may reduce paperwork for eligible borrowers.
Texas Mortgage Refinance Overview
Refinancing replaces your current mortgage with a new one. Depending on market conditions and your goals, a refinance can help lower your monthly payment, reduce the total interest paid over the life of the loan, change your loan type, or allow you to access built-up equity.
Not every refinance makes financial sense for every borrower. Ken Harmon will review your current loan, equity position, remaining balance, and goals to help you understand whether a refinance is likely to be beneficial given current market rates and your individual situation.
Frequently Asked Questions
When does refinancing make financial sense?
Refinancing may make sense when current market rates are meaningfully lower than your existing rate, when you want to change loan terms, or when you want to access home equity. The benefit depends on your specific rate, remaining balance, and how long you plan to stay in the home. Individual results vary.
What is a cash-out refinance?
A cash-out refinance replaces your existing mortgage with a new loan for a higher amount, allowing you to receive the difference in cash. The funds can be used for home improvements, debt consolidation, or other purposes. Your home is the collateral and your total mortgage debt increases.
How long does refinancing take?
A standard refinance typically takes 20 to 45 days from application to closing, depending on documentation, appraisal scheduling, and underwriting timelines. Streamline refinance programs (FHA, VA) may be faster for qualified borrowers.
Will I need an appraisal to refinance?
Most conventional and FHA refinances require a new appraisal to determine current home value. Some streamline programs (FHA Streamline, VA IRRRL) may waive the appraisal requirement for qualified borrowers with documented on-time payment history.
Estimate Your New Payment
Estimated Monthly Payment
$2,206.58/mo
Principal & Interest
$1,706.58
Taxes
$400.00
Insurance
$100.00
Loan amount: $270,000 · This is an estimate only. Actual payments depend on program, lender, mortgage insurance, HOA, and underwriting. Not a commitment to lend.
Request a Refinance Review
Apply online through our secure Loan Factory portal, or call Ken directly for a personal consultation. There's no obligation for a pre-qualification review.
Applications processed securely through Loan Factory, Inc. NMLS #320841 · Ken Harmon NMLS #921561
Important Disclosures
Programs, rates, terms, and conditions are subject to change without notice and are subject to credit and underwriting approval. Not all applicants will qualify. Loan amounts, interest rates, and program availability may vary based on individual circumstances, lender guidelines, and current market conditions. This is not a commitment to lend.
Ken Harmon, NMLS #921561. Loan Factory, Inc. NMLS #320841. Licensed to originate mortgage loans in the State of Texas. Verify licensing at nmlsconsumeraccess.org.
Equal Housing Opportunity.