Rate/Term Refinance
Lower your interest rate, shorten your loan term, or both. The goal is to reduce your monthly payment or total interest paid. Best for homeowners who bought or last refinanced when rates were higher. I calculate your break-even point — the month when savings exceed closing costs — before you decide.
Cash-Out Refinance (Texas 50(a)(6))
Access your home equity in cash for renovations, debt consolidation, or any purpose. Texas law caps cash-out refis at 80% LTV — stricter than most states. On a Grapevine home appraised at $460,000, you could access up to $368,000 minus your current loan balance.
FHA Streamline Refinance
If you already have an FHA loan, the streamline program lets you refinance with no appraisal and minimal documentation — as long as the new loan demonstrably benefits you. No income verification in many cases. I check your FHA loan for streamline eligibility at no cost.
VA IRRRL (Interest Rate Reduction Refinance Loan)
Veterans and active-duty homeowners with an existing VA loan can streamline into a lower rate with no appraisal and no income verification in most cases. The new rate must be lower than your current VA rate (except ARM to fixed). I process VA IRRRLs regularly for Grapevine area veterans.
