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Mortgage Refinance in El Paso

Refinancing your mortgage can save you thousands of dollars by replacing your existing loan. Our experienced loan officers will help you find a new mortgage that better suits you. Mortgage refinancing involves taking out a new loan to pay off your original loan, enabling you to pay off your loan at a faster and less stressful pace. Rocky Mountain Mortgage is here to provide homeowners with mortgage refinance services allowing them to take advantage of lower interest rates, cash out a portion of their equity, and reduce monthly payments with an extended repayment term. Rocky Mountain Mortgage Company can provide you with the equity and repayment plan that best benefits you.

How to Qualify for Mortgage Refinancing 

Mortgage refinancing options are strictly reserved for qualified borrowers. To qualify for home equity refinancing loans, one must be able to meet the following:

  • Maintain decent credit

    The fewer problems in your credit history the more trustworthy you appear, problems are not always detrimental. Some home loan programs will allow you to borrow a home loan within one or two years of bankruptcy, but it is key to make your credit look as responsible as possible.

  • Sufficient income

    It is important to consider how much should be borrowed for a new loan based on your income. If you are unclear if your income will be sufficient, then a loan officer can help verify if your debt-to-income ratio is adequate.

  • Sufficient equity

    In most cases, you can ask for a mortgage refinance that estimates up to an 80% loan-to-value ratio, although it may be possible to go up higher. This can make it harder to qualify for a mortgage refinance and you may have to pay mortgage insurance payments.

We Offer Different Types of Mortgage Refinanced Loans

From lowering your monthly payments to building your home’s equity, there are a variety of refinance loan programs that you can choose from here at Rocky Mountain Mortgage Company which include the following:

  • Rate-and-Term Refinance Loans

    This refinance program is the most popular for homeowners because it is used to pay off the original mortgage, which is then replaced with a new loan.

  • Fixed-Rate Refinance Mortgage Loans

    This refinance program sets a monthly payment during the time of a loan. The monthly principal and interest payments are typically higher than a long-term loan but it also protects the borrower from increases in interest rates.

Contact the Rocky Mountain Mortgage Company

Rocky Mountain Mortgage Company can guarantee that refinancing your loan will help you balance out your finances and help you repay your mortgage loan at a more efficient rate. Contact Rocky Mountain Mortgage Company to learn more about how to sign up for mortgage refinance.

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We have helped more than 20,000 El Paso families realize their dream of HOMEOWNERSHIP.

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We have helped more than 20,000 El Paso families realize their dream of HOME OWNERSHIP.

Get a FREE Consultation

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Texas Mortgage Banker Consumer Disclosure: PURSUANT TO THE REQUIREMENTS OF SECTION 157.007 OF THE MORTGAGE BANKER REGISTRATION AND RESIDENTIAL MORTGAGE LOAN ORIGINATOR ACT, CHAPTER 157, TEXAS FINANCE CODE, YOU ARE HEREBY NOTIFIED OF THE FOLLOWING: CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE, SIGN AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE DOWNLOADED AND PRINTED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEB SITE AT WWW.SML.TEXAS.GOV.

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