Refinance Your Mortgage

in Austin, TX

Refinancing is a strategic financial tool that only provides value when the metrics align with your long-term goals. I provide transparent, data-driven analysis to ensure you have the clarity needed to make an informed decision without any marketing pressure.

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Check Your Refinance Options

Common Reasons to Consider Refinancing

Refinancing replaces your current mortgage with a new one. There are several reasons homeowners choose to do this:

Lower Your Monthly Payment

If interest rates have dropped since you got your mortgage, or if your credit has improved significantly, refinancing could reduce your monthly payment. This frees up cash for other goals or simply makes your budget more comfortable.

Shorten Your Loan Term

Want to pay off your home faster? Refinancing from a 30-year to a 15-year or 20-year term can save you significant interest over the life of the loan. Your monthly payment may increase, but your total cost drops.

Cash-Out Refinance

Need funds for home improvements, debt consolidation, or another major expense? A cash-out refinance lets you tap into your home's equity and convert it to usable cash.

Remove Private Mortgage Insurance (PMI)

If your home has appreciated and you now have 20% or more equity, refinancing can eliminate your PMI, lowering your monthly payment.

Switch Loan Types

Maybe you started with an FHA loan and now qualify for conventional. Or you have an adjustable-rate mortgage (ARM) and want the stability of a fixed rate. Refinancing lets you restructure to a loan type that better fits your current situation.

Consolidate Debt

A cash-out refinance can be used to pay off high-interest debt like credit cards. This isn't always the right move, but in some situations it can make financial sense. We'll look at the full picture together.

The Honest Math on Refinancing

Refinancing isn't free. There are closing costs involved, typically 2-3% of the loan amount. That means refinancing only makes sense if the savings outweigh the costs over a reasonable timeframe.

It Usually Makes Sense When:

You can lower your rate by 0.5% or more
You plan to stay in the home long enough to recoup closing costs (the "break-even point")
You need to access equity for a specific, worthwhile purpose
Removing PMI will save you meaningful money each month
You want to pay off your mortgage faster and can afford a higher payment

It Might NOT Make Sense When:

You're planning to sell in the next 1-2 years
The rate savings are marginal (less than 0.25-0.5%)
You've already paid down significant principal on a low-rate loan
You'd be "resetting the clock" on a loan you've had for many years
Cash-out funds would go toward non-essential spending

My approach: I'll run the numbers with you, including a break-even analysis, so you can make an informed decision. If refinancing doesn't make sense for you, I'll tell you.

Your Refinance Consultation: What to Expect

When you reach out, here's what we'll cover:

Your Current Loan

What's your current rate, term, loan balance, and monthly payment? When did you close on the original loan? This gives us the baseline.

Your Goals

What are you trying to accomplish? Lower payment? Pay off faster? Access cash? Your goals guide which options make sense.

Your Home's Value

We'll estimate your home's current market value to determine your equity position. This affects your options and available rates.

Break-Even Analysis

I'll calculate how long it will take for your savings to exceed your closing costs. If the break-even is 5 years and you're planning to move in 2, refinancing probably isn't the right move.

Closing Costs

You'll see a clear estimate of what the refinance will cost and how those costs can be structured:

Paid at closing
Rolled into the loan
Offset by a slightly higher rate ("no-cost" refinance)

No surprises. You'll know exactly what to expect before you commit to anything.

Schedule Your Refinance Consultation

Types of Refinance Loans

Rate-and-Term Refinance

Replace your current loan with a new one at a different rate, term, or both. You're not taking cash out, just restructuring for better terms. This is the most common type of refinance.

Cash-Out Refinance

Borrow more than your current loan balance and receive the difference as cash.
Requires sufficient equity in your home, typically at least 20% remaining after the cash-out.
Common uses include home renovations, debt consolidation, major purchases, or funding education.

FHA Streamline Refinance

For current FHA loan holders. A simplified process with reduced documentation, designed to make refinancing easier if you already have an FHA loan. Often doesn't require an appraisal.

VA Interest Rate Reduction Refinance Loan (IRRRL)

For veterans with existing VA loans. Also known as a VA Streamline, this program allows you to refinance with minimal paperwork and often no appraisal. A great option for VA borrowers looking to lower their rate quickly.

Conventional to Conventional

Refinancing your existing conventional loan into a new conventional loan with better terms. If your credit or income has improved since your original purchase, you may qualify for a better rate.

Learn More About VA Loans

How Refinancing Works: Step by Step

Step 1: Initial Consultation

We'll spend 15-30 minutes discussing your current loan, your goals, and whether refinancing makes sense. If it does, I'll outline your options and next steps. If it doesn't, I'll tell you that too.

Step 2: Application and Documentation

You'll complete an application and provide documentation: income verification, assets, and your current mortgage statement. I'll order an appraisal if needed.

Step 3: Underwriting

Your loan goes through underwriting review. I'll keep you updated on progress and let you know if anything additional is needed.

Step 4: Closing

Once approved, you'll sign closing documents. Depending on the refinance type, there may be a 3-day right of rescission period before the new loan funds.

Timeline: Most refinances take 30-45 days from application to closing. Streamlined options like FHA Streamline and

VA IRRRL can often close faster.

Start Your Refinance

How Refinancing Works: Step by Step

Step 1: Initial Consultation

We'll spend 15-30 minutes discussing your current loan, your goals, and whether refinancing makes sense. If it does, I'll outline your options and next steps. If it doesn't, I'll tell you that too.

Step 2: Application and Documentation

You'll complete an application and provide documentation: income verification, assets, and your current mortgage statement. I'll order an appraisal if needed.

Step 3: Underwriting

Your loan goes through underwriting review. I'll keep you updated on progress and let you know if anything additional is needed.

Step 4: Closing

Once approved, you'll sign closing documents. Depending on the refinance type, there may be a 3-day right of rescission period before the new loan funds.

Timeline: Most refinances take 30-45 days from application to closing. Streamlined options like FHA Streamline and

VA IRRRL can often close faster.

Start Your Refinance

Refinance Questions I Hear Often

How much equity do I need to refinance?

For a standard rate-and-term refinance, most programs require at least 5-10% equity. For cash-out, you'll typically need at least 20% equity remaining after the cash-out. Not sure where you stand? Reach out and we'll estimate your equity together.

Will I need an appraisal?

Usually, yes. The appraisal confirms your home's current market value. Some streamline programs, like FHA Streamline and VA IRRRL, may waive the appraisal requirement.

Can I refinance with the same lender?

You can, but you don't have to. Your current lender doesn't always offer the best deal. It's worth comparing options, and I'm happy to show you what I can offer.

What about closing costs?

Refinance closing costs are similar to purchase closing costs, typically 2-3% of the loan amount. These can be paid at closing, rolled into the loan, or offset with a slightly higher rate. We'll discuss which approach makes the most sense for you.

Is there a waiting period to refinance?

Some programs have seasoning requirements, typically 6-12 months after your original loan. We'll discuss what applies to your situation.

How do I know if refinancing is worth it?

That's exactly what our consultation is for. I'll run the numbers, show you the break-even point, and give you my honest assessment. If it doesn't make sense, I'll tell you.

Not Sure If Refinancing Is Right for You?

"I don't know if I'll save enough to make it worth it."

That's what the break-even analysis is for. I'll show you exactly how much you'll save and how long it takes to recoup closing costs. Then you can decide.

"I don't want to reset my loan and start over."

I understand. If you've been paying down your mortgage for years, starting a new 30year term can feel like going backwards. We can explore shorter terms or run the numbers on whether staying put makes more sense.

"I'm not sure my home has appreciated enough."

The Austin area has seen strong appreciation in recent years, but every situation is different. Let's talk and I'll help you estimate your current equity.

"I had credit issues when I got my original loan. Is it worth checking again?"

If your credit has improved significantly, you may qualify for much better terms now. It's worth a conversation to find out.

"I've heard refinancing is a hassle."

It can be if you work with a disorganized lender. My goal is to make it as smooth as possible: clear communication, no surprises, and a streamlined process.

Whatever is holding you back, let's talk about it. A quick conversation can give you clarity.

What Clients Say

Don't Just Take My Word For It

When applying for a home loan it's a time consuming and stressful ordeal - but having "Supreme Lending" and "Loan Officer - Gary Caples" on your side really can make the process a much easier and less stressful business transaction.

Carl and April Kearney

Gary Caples, My Mortgage Consultant was very patient and tireless in his mission to get my loan underway. Always there to answer a question and kept me informed about the process and the timelines.

Jeremy Johnson

“After moving to Austin from Los Angles, we were job hunting and planning to get married. During a very stressful time in our lives, Gary’s expertise, hard work and patience with us made our home buying experience very smooth and positive.”

Andy Molloy

Ready to Get Started?

The first step is simple: a conversation. We'll talk about your goals, We'll answer your questions, and we'll figure out the best path forward. No obligation. No pressure. Just honest guidance.