Rate Term Refinance

The process of paying off one loan with the proceeds from a new loan, using the same property as security. Cash received by the borrower at closing may not exceed $2,000. In Texas you are never allowed to receive cash at closing on a rate term refinance of your primary home.

In other states they do have a limited cash out up to $2K on a rate term but not in Texas.

Advantages

  • Shorten Term of Mortgage: Refinancing an existing loan for another to a 10, 15 or 20 Year Fixed.
  • Lower Interest Rate: Refinancing is a good idea if you can reduce your interest rate to save interest payments over the life of the loan.
  • Fixed Interest Rate: Converting an adjustable-rate mortgage to a fixed rate can eliminate future interest rate jumps.
Contact Mortgage Lenders Today!
Licensed In all States
Just fill out the quick form below and we’ll take it from there. Or call us during regular business hours. (Monday through Friday, 8:30AM-5:30PM)

Contact Us

  • This field is for validation purposes and should be left unchanged.
NOT A GUARANTEE, OFFER OR AGREEMENT. EVERETT FINANCIAL, INC. D/B/A SUPREME LENDING NMLS ID #2129 (www.nmlsconsumeraccess.org) 14801 Quorum Dr., #300, Dallas, TX 75254. 877-350-5225. © 2017. Information, rates, & programs are subject to change without prior notice. Subject to credit & property approval. Not affiliated with any government agency. Intended for Texas Consumers Only. Texas- SML Mortgage Banker Registration Residential Mortgage Loan Originator.