Lower your Texas mortgage rate — without touching your equity.

It makes sense when: (1) current rates are at least 0.5–0.75% lower than your existing rate, (2) you plan to stay in the home long enough to recoup closing costs (typically 2–4 years), (3) you want to switch from an ARM to a fixed rate, or (4) you want to shorten your term from 30 to 15 years to save on total interest.

Closing costs typically range from 1.5–3% of the loan amount ($4,500–$9,000 on a $300K loan). Costs include appraisal ($400–$600), title insurance, origination fee, and recording fees. We offer no-closing-cost options where fees are rolled into the rate.

STX Lending averages 14–21 days from application to closing. Standard industry timeline is 30–45 days. Our in-house processing and underwriting speed the process significantly.

Most refinances require an appraisal ($400–$600). Exceptions: FHA Streamline and VA IRRRL refinances often waive the appraisal requirement. Some conventional refinances qualify for appraisal waivers through automated underwriting.

Yes. FHA refinances allow as little as 3.5% equity. Conventional refinances typically need 5%+ equity (3% for some programs). You may be required to pay PMI if equity is under 20%, but refinancing from FHA to conventional can still save money by removing MIP.

Rate & term changes your interest rate and/or loan term without taking equity out. Cash-out refinance lets you borrow more than you owe and receive the difference as cash. Rate & term typically has lower rates and fees because you're not increasing your loan balance.