Texas Cash Out Refinance

When it comes to structuring your mortgage, you must make sure you are dealing with someone who is knowledgeable in the business.  Most consumers think they know how their loan needs to be structured, but in most cases, it can be the exact opposite until someone points it out to you.  It’s not your fault, you just don’t structure mortgage loans every day.

I’ve been in the mortgage business over 10 years now and I’ve seen a lot.  Believe it or not, I’ve seen the good ole 40-year mortgage.  You talk about a bad loan.  Do you really want to pay for the home twice?   40 years is definitely a long time to pay for your home.  In some cases for people that know they were moving in the next few years, that may have been a good deal.  Then in my opinion that was only a good deal if you had a ton of equity in the property so you could afford the extra years being added.

The hottest loan on the market these days is a 15-year mortgage.  Rates are so low at the moment that people who thought they could not afford it, actually can.  In some cases, people are actually refinancing to a 15-year loan and making a cheaper payment.  I know it sounds unreasonable, but it has happened in a few instances.

[thrive_link color=”green” link=”http://mikepricemortgageservices-2-shinosv6.itclix.com” target=”_self” size=”big” align=”full”]Get Approved For Your Cash Out Loan Today[/thrive_link]

A Texas Cash Out Refinance Can Help You Tremendously

When people think of a cash out refinance, typically they are looking to do home improvements.  Putting in a pool or some repairs are the main reason.  There are several reasons you should look at doing a cash out refinance if you have the equity in your property.  First of all, I’d like for you to think about all the equity that you’ve poured into your home over the years.  It’s about time it paid you back right.  Sometimes we as humans tend to get in a little over our heads with consumer debt.  Credit Cards, Installment Loans, Student Loans, Personal Loans and all kinds of other debt can be paid with your home equity loan.

What most people can’t see until you really point it out to them is regardless of who you owe, it all comes out of the same pot at the end of the month.  Basically what that means is, it really does not matter if you owe a little here and a little there, you still owe it.  A Texas Cash Out Refinance can help you consolidate all that debt into one simple payment.  In some cases for people that have the equity in their property, you can roll in enough consumer debt and only have your mortgage left to pay.

In some Extreme Cases, a Texas Cash Out Refinance you can even LOWER YOUR TERM and still lower your monthly output.  Please see an example of this in the video below.

[responsive_video type=’youtube’ hide_related=’1′ hide_logo=’1′ hide_controls=’0′ hide_title=’1′ hide_fullscreen=’0′ autoplay=’0′]https://www.youtube.com/watch?v=zK2w6N429Vo[/responsive_video]

[thrive_link color=”green” link=”http://mikepricemortgageservices-2-shinosv6.itclix.com” target=”_self” size=”big” align=”full”]Get Approved For Your Cash Out Loan Today[/thrive_link]

Cash Out Refinance and Qualifications

It’s really not very hard to qualify for a cash out loan in Texas.  The state has set some loan limits for this type of transaction, but it’s probably in our best interest and has saved the state from the housing crisis as much as it could.  If you are looking to do a cash out refinance in Texas, your loan will be capped at 80% of your home’s value.  This helps you keep some equity in the property and protects people from themselves.  Just as the above example shows you there are more ways to save money with a mortgage refinance than most people realize.  For your own specific scenario, please call me direct so I can tailor a loan specific to your needs and liking.  Click Cash Out Refinance to get your online quote.