Refinancing is about to be more affordable than ever starting July 1st, 2025 because Title insurance

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Издатель Apr 2, 2025

Refinancing is about to be more affordable than ever starting July 1st, 2025 because Title insurance premiums are dropping by 10%! This change, mandated by the Texas Department of Insurance, is designed to lower closing costs, meaning homeowners who refinance will save big on title fees. With interest rates expected to drop to 6% this year, many homeowners who’ve been waiting for the right time to refinance could finally see the numbers work in their favor. Lower rates + reduced closing costs = major monthly savings. For anyone who bought a home in the last few years when rates were sky-high, this is a huge opportunity to lower your mortgage payment. Even if you refinanced recently, it might be worth checking if these changes make it possible to save even more. When refinancing, you need to have a recent mortgage statement and paystubs available. You should also do a soft credit pull to evaluate the numbers before doing a hard credit pull. The biggest concern to look out for is your breakeven point. You need to make sure you understand the cost of refinance compared to the monthly savings. As long as your breakeven point is within 2-4 years, its probably worth considering. If you’ve been holding off on refinancing because of high costs, this shift could be your green light. Let’s run the numbers and see if a refi makes sense for you. DM me to see if this makes sense for you! - #texasloanofficer #texashousingmarket #dfwhousingmarket #crosscountrymortgageloanofficer #crosscountrymortgage #texasrealtors #refinance #titlepremiums #titleinsurance #closingcosts