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Refinancing your mortgage has become easier and our team works not only to get you the best terms for your mortgage but also ensures a smooth and fast closing. Refinance your mortgage to get lower payments, shorter term or to cash out your equity. We will cover a few good reasons on why you should consider refinancing your mortgage:

Lower your Interest Rate - If you paying a high rate of interest, this is your chance to lower your interest rate and reduce your monthly payments. Refinancing will help you reduce the extra interest you are paying and will increase your monthly savings. You can choose for from a wide range of Fixed Rate or Adjustable Rate options.

Pay off Mortgage sooner - Reducing your loan term will allow you to build equity faster and you can pay off your mortgage sooner to own a free and clear property. You can save thousands of dollars on the interest you don't have to pay on a shorter loan term.

Remove Mortgage Insurance - If you have purchased your home with a Low down payment option, chances are you're paying private mortgage insurance (PMI).  Our expert staff can analyse if refinancing will help you eliminate the PMI by determining if you've paid down your loan balance to 80% or less or if you have seen an increase in your home value to have a loan-to-value (LTV) of 80% or less.

Convert an Adjustable rate to a Fixed rate - Adjustable rate mortgage (ARM) loans are a great way to ease into your mortgage payments, especially if you are a first time buyer or if you need lower payments initially. Eventually, if you decide you will stay in your home longer, you may want to consider refinancing your mortgage into a long term fixed rate loan. Doing so will give you peace of mind, knowing that your rate and payment will not change for a set period of time.

Cash out your Equity - Use the cash from your home to pay off higher interest, non-tax-deductible credit cards, student loans, or medical bills. By consolidating your debts, you can enjoy the benefit of having only one payment each month, and in most cases your overall monthly outflow decreases.​ ​The cash out option can also allow you to complete any home repairs or improvements or use the cash for down payment on a new vacation home or investment property or you can use it to pay for your kids college education.

Thank you so much for your help in refinancing my mortgage loans.  You were wonderful in being patient with me and going into detail to explain anything I had any questions about.  I will be sure and recommend you for future friends. 


- Desiree Young, TX

Requirements & Qualification

  • Credit History - Typically we can go as low as 530 on the credit scores to qualify you for a mortgage however there is more to the credit history than just the scores. The underwriters review an overall credit history on the basis of your scores, how you have been managing your accounts i.e. your payment pattern, any derogatory's like unpaid collections, charge off accounts, bankruptcy, foreclosures, etc. Your credit history review done by our team will allow us to select an appropriate loan program for you, we offer a wide range of loan programs that includes Conventional, FHA, VA & USDA. 


  • Down Payment - Typically on a refinance transaction there will be no down payment required, the equity of your property will be used to determine the maximum allowable loan amount depending on the loan program. The maximum allowable loan amount would also depend on your overall credit profile.


  • Income - The minimum income required depends on your fixed obligations like auto loans, unsecured loans, credit card payments, student loans, etc. The underwriters review your gross monthly income vs your fixed obligations as disclosed by you on the application and reviewed on your credit report. Typically the term used is "Debt to Income Ratio" and each loan program has its own threshold or tolerance for the Debt to Income ratio e.g. on a Conventional loan, the maximum DTI allowed is 45%-50%.


  • Property Type - The property types we can help finance include a Single Family Residence, Duplex (2 Units), Multi-Family Residence (3-4 Units), Condominium & Manufactured Homes permanently attached to the land. These are the basic property types as allowed on the programs and each loan program includes specific guidelines regarding the property condition, location, etc therefore a further review of the property appraisal report is required by the underwriter. 


To know more about these requirements based on the specific programs, click on the respective loan program tab as mentioned below:

LOAN ​PROCESS

REFINANCE YOUR MORTGAGE

This section will give you a good Idea of the mortgage process and the time frame involved.  The knowledge will help you feel more comfortable as you understand and go through the steps.

CLIENT ​RESPONSES

Seguro Financial Services has the copyright for Seguro Loans and seguroloans.com including all information on this website. The product and information advertised on this website does not constitute to be a loan approval or a loan guarantee. The loan approval is subject to a thorough review of your profile and documents by the underwriting team.

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