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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.

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Why Consider a Refinance?

  • 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.

  • 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.

  • Cash-Out Refinance
    Tap into your home equity to fund renovations, pay off high-interest debt, invest, or cover large expenses.

  • 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

  • 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

    • Looking to pay off their loan sooner

    • Who’ve improved their credit and want better loan terms

  • 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

    • Requires a solid credit profile, good equity, and manageable debt-to-income ratio

  • 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)

    • Great for ongoing or unpredictable expenses like renovations

    • Interest-only options available

Are You Eligible to Refinance?

Eligibility will depend on factors like:

 

  • Current home value and equity position

  • Credit score and payment history

  • Debt-to-income ratio

  • 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.

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See What Your Options Are

Even if you're just curious about what's possible, it never hurts to ask. The McDaniel Mortgage Group is here to explore your refinance potential, explain your options clearly, and help you make the best financial decision for your future.

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