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You see the ads, and you hear the pitches on radio, on television, on the Internet. You see it so often, you may have become numb to it, and ignore the idea. After all, won't it be a hassle? Perhaps you have credit ‘issues', and maybe this is why you have decided that yes, it will be a hassle, because you don't want to be turned down, or have to talk to someone about why you lost your job and missed paying some bills. Or perhaps it's something you've not even put much thought into.

If you own a home, of course you don't want to be paying on a loan with a high interest rate. You need your money for other things. You know you're going to be making payments on your home, but depending on the interest rate you got with your home loan, you want to have some money left over after doing that… so maybe refinancing your home loan might be a good idea after all…

Interest rates are as low as they are going to get for a while. As a matter of fact, at the time this article is written, interest rates are on the rise after being at an all time low. If you are paying, say, $537.00/month on your current mortgage payment @ 12% interest on your thirty year note, you can refinance now at a very common 7% interest, and make a payment of $419.00/month. On a 30 year note that's a savings of $118 dollars a month, or $42,000 dollars by the time the note is paid. If the numbers on your current payments are higher that than $537.00, and the chances of that are probably pretty good, the no will be the benefits of refinancing to a lower interest rate.

It's certainly something to think about, especially if you've considered that putting that $118.00 into a retirement account every month where it will earn interest for you, instead of the mortgage bank, .will actually PAY for a decent retirement… in the home you already own….or perhaps fund a college tuition. The money would be in your hands, and not tied to an obligation.

As for ‘having some credit issues', perhaps you didn't realize that refinancing your home loan can also, depending upon the type of loan you get, pay off credit card or other types of debts. Talk to your Texas Funding loan officer about the types of refinance loans that are available in Texas, and other states to make this happen. If you've had a bankruptcy, refinancing your home loan will help to re-establish your credit with major lenders. A rule of thumb to remember with bankruptcy, is that if was discharged more than two years ago, it will probably NOT count against your chances of refinancing.

If you have Mortgage Insurance on your current loan, a refinance could eliminate that monthly payment altogether. If you pay your taxes, your insurance, land, and mortgage payments to different lenders, refinancing your current mortgages can pay of the balance of the other lenders, leaving you with one decidedly lower monthly consolidated payment to make.

These are just a few reasons to refinance. And at Texas Funding, it's easier than you think. If you want to prequalify online, go to http://txfunding.net, and click the “prequalify" link to complete a secure, confidential form that will take less than ten minutes of your time. No embarrassing interview required. A texas Funding Loan Officer will contact you to discuss your options and help you to maximize your potentials as a homeowner, whether you own a residential, modular, or manufactured home. Or call us at 817.441-6744. We have helped thousands to buy new homes and refinance existing homes, working with ALL types of credit. Call today or apply online.