Refinancing Your Mortgage
Make Your Mortgage Work Smarter for You.
Refinancing gives homeowners a powerful way to lower monthly payments, pay off a mortgage faster, access home equity, or simply adjust to life’s changing needs. Whether you’re looking to save money or fund a new project, The McDaniel Mortgage Group is here to guide you through your refinancing options.
We offer refinance solutions across multiple loan programs — including Conventional, FHA, VA, and USDA loans — for homeowners in Texas and across the ten states we serve.
Why Consider a Refinance?
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Lower Your Interest Rate
Take advantage of current market rates to reduce your monthly payment and the total interest paid over the life of your loan.
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Shorten Your Loan Term
Switching from a 30-year to a 15- or 20-year mortgage helps you pay off your home faster — and save significantly in long-term interest.
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Cash-Out Refinance
Tap into your home equity to fund renovations, pay off high-interest debt, invest, or cover large expenses.
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Switch Loan Types
Move from an adjustable-rate mortgage (ARM) to a fixed-rate loan for more stability — or refinance out of FHA to eliminate mortgage insurance.
Types of Refinance Loans We Offer
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Rate-and-Term Refinance
This option allows you to refinance your mortgage for a better interest rate and/or term — without increasing your loan amount or receiving cash at closing. Ideal for homeowners:-
With an ARM who want to lock in a fixed rate
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Looking to pay off their loan sooner
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Who’ve improved their credit and want better loan terms
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Cash-Out Refinance
Replace your current mortgage with one that includes additional funds, drawn from your home’s equity.-
Use funds for home improvements, debt consolidation, investments, and more
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Requires a solid credit profile, good equity, and manageable debt-to-income ratio
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HELOC (Home Equity Line of Credit)
A revolving credit line secured by your home’s equity.-
Access up to 80% of your home’s value (75% for investment properties)
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Great for ongoing or unpredictable expenses like renovations
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Interest-only options available
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Are You Eligible to Refinance?
Eligibility will depend on factors like:
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Current home value and equity position
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Credit score and payment history
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Debt-to-income ratio
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Existing loan type and interest rate
We’ll help you run the numbers to see whether refinancing is the right move for you — and which option delivers the most benefit.
