August 10th, 2017 2:55 PM by Shawn Smith NMLS#863501
The Dallas and North Texas housing market is on fire. This isn’t news to anyone who is trying to buy a home. With people constantly moving to Texas in record numbers the availability of homes has declined while prices have increased.
Home Equity In Dallas and Texas
With housing costs increased across Dallas and the surrounding areas, homeowners who have owned their home for a few years find themselves in a unique positon with equity in their homes. There are several reasons Sublime Financial is working with homeowners across Texas to refinance their current mortgages. Using the equity is one of the big reasons. Many homeowners are using the equity in their homes to do a cash-out refi. This money might be used for home improvements or to pay off other debt.
Secure A Lower Interest Rate In Dallas
One of the top reasons our customers are refinancing is to get a lower interest rate. Many homeowners have an older mortgage, which may have a higher interest rate. By letting Sublime Financial find a new and lower rate we are able to save our customers money every month!
Refinancing A Shorter Term Helps Build Equity
By refinancing your home in the Dallas market, Sublime Financial also helps you build more equity in your house even faster. For example, if you currently have a 30-year fixed rate and refinance to a 20-year fixed rate at a lower percentage, you’ll be able to save on interest paid and shorten the amount of time it takes to gain more equity.
Switch Mortgages Types in Dallas
Some homeowners in Dallas may have an ARM and want to take advantage of the current low rate we have. By switching from an ARM, which can rise, to a fixed-rate mortgage, we can lock in these low rates now and you won’t have to worry about rate increases.
Modular Homes In East Texas
Last, but certainly not least, we have discovered that many people in the East Texas area with modular homes are sitting with very high loans right now. Many are paying over 6% and don’t realize that modular homes can now also be refinanced for a lower rate. These situations depend on a few things, but are certainly worth exploring to save a customer money.
Sublime Financial is helping our customers each week from Dallas to Tyler, Texas refinance their homes for many reasons and save them money. All our consultations are free. Please reach out to us now so we can help you as well.
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