What Happens to My Current Mortgage When I Refinance?

Your new lender pays off the existing mortgage entirely at closing. You then make payments only on the new loan with its new terms.

• What to know: Understand the timeline, seasoning requirements, and lender expectations specific to Houston investment property refinances.
• Houston context: Houston lenders typically process investment property refinances in 30–45 days. DSCR lenders may close faster due to simplified underwriting.
• Action step: Compare at least 3 loan types — conventional, DSCR, and portfolio — to find the best match for your Houston rental situation.

Bottom Line

Understanding the fundamentals of refinancing helps Houston landlords make informed decisions about optimizing their loan terms and cash flow.