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Houston Home Refinance

I'm interested in refinancing my home. I have a loan of 310k against a property valued at 395k. Currently my credit is 760, my husband makes a great annual income (90k). I'm just doing some research on my husband's behalf right now, but what lenders have some options in the Houston, TX area? by kara.t_580_379 from Houston, Texas. Dec 2nd 2011 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

Contact a local mortgage broker, not a bank, and apply with them... they have access to multiple lenders and can find the right loan product to fit your particular scenario.. WilliamAcres.com

Dec 2nd 2011
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Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,406 contributions

The best course of action is to meet with a local Mortgage Banker/Broker instead of one of the big banks. You will find that at the bank, you will most likely be working with an order taker. Working with a Mortgage Banker/Broker means you are working with an individual who has been trained, tested and licensed. A licensed Mortgage Originator will be able to help you identify the most appropriate loan program based on your needs and short/long term plans AND show you the advanages and disadvantages of each so you make the best possible decision. You can check out the qualifications of any Mortgage Originator at www.nmlsconsumeraccess.org.

Dec 2nd 2011
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

Hi Kara, I agree with Burt. You should definitely speak with a mortgage broker instead of a bank. A broker has many more options available for you instead of going to a bank and only having their programs as an option. If you would like to discuss further feel free to contact us. Michelle & Benny 201-962-3555 TeamAmbassador@BestMortgageOption.com

Dec 2nd 2011
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Brian Allen (ballen)
#43 ranked lender in Maryland - 193 contributions

Kara, great first step we all pride ourselves in providing clear information with the internet you do not have to stay local there are no advanatges with offices in TX I can originate and provide you great service and rates, give me a try 25 years of exceptional mortgage service I can be reached at ballen@accessnational.com

Dec 2nd 2011
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Blake Kleckner (BlakeK)
#391 ranked lender in California - 261 contributions

I don't know which lenders in the Houston area to refer you to, but you and your husband are in a very strong position if your home, in fact, has a value of $395K. Of course, that can only be determined by an appraisal.Using your numbers, your home's loan-to-value ratio [LTV ($310K divided by $395K)] is 78.5%. As long as you can refinance so that this ratio is equal to, or less than, 80%; no mortgage insurance will be required. This would require a refinance at very low, or no, cost.If you lived in California, I could do it for you without any problem through many of our 39 quality lenders. But, alas, you do not.My suggestion is for you to find a broker who has a variety of lenders to choose from, so you can get the most beneficial loan for your particular needs. I strongly advise you not to work directly with a bank. If you do, you may get the bank's best loan program, interest rate, and lowest costs, but I can assure you that the loan you get will not by the best one for you.A bank is limited to its loan programs--perhaps 20 to 40 of them. Our brokerage has access to over 1,000 loan programs. 1,000 versus 40, which do you think will provide you with the best loan?I imagine that there are mortgage brokerages in the Houston area representing 20 or more lenders. Seek them out and you should be able to find the most advantageous loan for your family.

Dec 2nd 2011
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