When you refinance the mortgage on your house, you’re basically trading in your current mortgage and payment for a new one (often with a new principal balance and different interest rate). Your lender then uses the newer mortgage to pay off the old one, leaving you with one loan/monthly payment. 

 There are a few reasons people refinance their house. You can use a cash-out refinance to make use of your home’s equity (this cash can be used for home improvements, paying off debts, or just simply putting money into your rainy-day account). There are instances where you can refinance your home and lower the rate/monthly payment. Call/Text (512)766-4339 for a free home mortgage analysis!

 It depends on the reason your credit is imperfect, there are some instances where this is possible. We have numerous options to help you here at West Capital Lending, Inc so reach out if you have any questions.

Unlike traditional banks and retail lenders that can take 45-60 days to close, we can close most of our loans within 21 days! There are other options like a HELOC which can close even quicker.