Am I able to Refi?

Typically borrowers would like to refinance bringing no cash to the table. Closing costs are rolled into the new loan increasing your loan amount. Refinance a home with less than 3% equity is very difficult to accomplish without bringing money to the the table.

For example, a home is worth $200,000. The current loan balance is $190,000. After closing costs, payoffs, and escrows are all rolled into the new loan, the new loan will be made for $198,000. If the home were only worth $195,000 at the time of refinance, in this senario, $3000 would have to come out of the pocket of the borrower.

I you are thinking about refinancing, please give us a call at 281-569-2730 and let us help you determine if a refinance is right for you at this time.

If you are ready to apply, you may do so by phone or Apply online.