Refinance — strategy, not just a rate quote.
Refinancing isn't about chasing the lowest rate. It's about structuring your mortgage to serve YOUR goals — lower payment, faster payoff, access to equity, or repositioning your portfolio. We help you make the right move, not just any move.
The Patterson Approach.
A quick look at how we think about refinancing — goals first, math second, rate third.
Not all refinances serve the same goal.
Lower Your Monthly Payment
The classic refi reason — when rates drop, payments can come down too. We model the breakeven point on closing costs so you know if it actually makes sense for you.
Pay Off Your Mortgage Faster
Switch from a 30-year to a 15- or 20-year to save significantly on long-term interest. If rates have improved since your original loan, your payment increase may be smaller than you'd expect.
Pull Cash Out for Home Improvements
Tap your home's equity to fund renovations, expansions, or major projects — often at lower rates than HELOCs or credit cards.
Cash-Out for Other Purposes
College tuition, investment opportunities, starting a business, medical bills, or family needs — often at lower rates than personal loans or credit cards. We model the long-term math first to make sure it fits your goals.
Consolidate High-Interest Debt
Roll credit card debt, personal loans, or other high-rate obligations into your mortgage at lower rates. We model the long-term math to make sure it's the right move.
Remove Mortgage Insurance
Reached enough equity? Refinancing out of FHA into Conventional can drop mortgage insurance entirely — putting that monthly cost back in your pocket.
Change Loan Type or Term
Move from ARM to fixed, from FHA to Conventional, from 30-year to 15-year. We restructure your mortgage to match your current goals.
Not sure if refinancing makes sense? Find out in about 2 minutes.
Answer a few quick questions about your goals and your current loan, and we'll tell you whether a refinance actually helps — a lower payment, cash out, dropping mortgage insurance, or paying it off faster. You'll get a straight answer, even if it's "not yet."
Takes the guesswork out — without a phone call first.
Already shopping rates? Let's review your quote honestly.
Most lenders bury the real costs in the fine print — origination fees, junk fees, lock fees, processing fees. They add up fast and they're not always disclosed clearly. If you've already received a Loan Estimate from another lender, we'll review it line by line and tell you what's real and what's marked up. No charge. No pressure. No obligation.
Refinance options across every situation.
Tap any option to see how it works. The right one depends on your goals — we'll confirm the fit on the call.
Conventional Refinance
Rate & term or cash-out.
What's the difference between rate-and-term and cash-out?
Rate-and-term swaps your current loan for a new rate, term, or both without pulling money out. Cash-out replaces it with a larger loan and gives you the difference from your equity as cash.
Can refinancing get rid of my mortgage insurance?
Often, yes. If you're in an FHA loan and have built enough equity, moving to a conventional refinance can drop mortgage insurance entirely. We'll check whether your equity supports it.
How much equity do I need to pull cash out?
Conventional cash-out generally lets you borrow up to about 80% of your home's value on a primary residence. The exact number depends on your scenario — that's part of what we model on the call.
FHA Streamline
Faster, simpler FHA-to-FHA.
Why is it called a "streamline"?
It's a reduced-documentation FHA-to-FHA refinance. In many cases there's no new appraisal and no income verification, which makes it faster than a standard refinance.
Will it actually lower what I pay?
FHA requires the refinance to give you a real benefit — typically a lower rate or payment. If the math doesn't help you, we'll tell you straight.
Does it remove my mortgage insurance?
No — staying in FHA keeps FHA mortgage insurance. To remove it entirely you'd refinance into a conventional loan once you have enough equity. We can compare both paths.
VA IRRRL
Streamlined VA refinance.
What is an IRRRL?
The VA Interest Rate Reduction Refinance Loan — a streamlined VA-to-VA refinance to lower your rate or move from an adjustable to a fixed rate. It usually needs no appraisal and no income documentation.
Can I take cash out with an IRRRL?
No — the IRRRL is rate-and-term only. If you need to tap equity, that's a VA cash-out refinance, which is a different program. We'll point you to the right one.
What does it cost?
A reduced VA funding fee applies, and closing costs can often be rolled into the loan rather than paid up front. We'll lay out the real numbers for your situation.
Cash-Out Refinance
Access your home's equity.
What can I use the cash for?
Anything — renovations, consolidating higher-interest debt, investments, education, or major expenses. We model the long-term math first to make sure it actually fits your goals.
How much can I take out?
Your ceiling is set by your loan program, not the state. Conventional and FHA cash-out generally cap at 80% of your home's value, and qualified VA borrowers can go up to 100% on a primary residence. Those limits hold across the states we serve — Texas is the exception below. (Some lenders set their own stricter limits, which we'll account for.)
I'm in Texas — are the rules different?
Yes. Under the Texas Constitution, cash-out on your homestead is capped at 80% of your home's value — no exceptions — along with added protections like a 12-day disclosure and a cap on fees. We walk you through exactly what's available for your Texas scenario on the call.
HELOC
Often a better fit than cash-out refi.
How is a HELOC different from a cash-out refinance?
A HELOC keeps your existing first mortgage in place and adds a second one you can draw from as needed. A cash-out refinance replaces your whole mortgage with a new, larger one.
When is a HELOC the smarter move?
Usually when your current first mortgage has a low rate you don't want to give up. You keep that rate and borrow against your equity separately.
Does Texas affect a HELOC?
Texas home equity rules apply here too. We'll cover what's available and how it works for your home.
Three reasons to NOT refinance — even when rates drop.
Most lenders won't tell you when refinancing is a bad idea. We will. Sometimes the math doesn't work.
You're moving soon
Closing costs are real money. If you're moving within 2–3 years, the savings from a lower rate may never make back the upfront cost. We calculate breakeven during the consultation.
You're resetting the clock
Going from 22 years left on a 30-year into a fresh 30-year is rarely the right answer — even at a lower rate. The total interest paid often goes UP, not down. We model the lifetime cost, not just the monthly payment.
The 'savings' are just rolling costs into the loan
If the closing costs get rolled into the new loan, your 'lower payment' is partly an illusion — you're financing the fees. We show you the true cost.
Want to access equity without refinancing your whole mortgage?
Sometimes the answer to "I need cash" isn't a full refinance — it's a HELOC. Keep your existing low-rate mortgage in place and add a second mortgage that lets you draw cash as needed. Often the smarter move for homeowners with sub-5% first mortgages.
Explore HELOC OptionsFor real estate investors with rental properties.
Refinancing investment properties is a different game — different programs, different cap rates, different strategy. Whether you're pulling cash out to fund the next purchase, restructuring entity-level debt, or repositioning your portfolio, we have the programs for serious investors.
Investor Refinance StrategiesHow a Patterson Home Team refinance works.
Strategy Call
We talk about WHY you're refinancing and what you want to accomplish. Not every 'why' leads to a refinance.
Math & Model
We run the breakeven analysis, the lifetime cost comparison, and the right loan structure for your goals.
Lock & Process
Right loan, right time, right rate. Smooth processing with regular updates.
Close & Continue
Same long-term relationship as a purchase. Annual reviews. Ongoing strategy.
Ready to talk through a refinance?
15 minutes. Honest math. We'll tell you whether refinancing makes sense for your situation — even if the answer is no.
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