Have you considered refinancing your existing mortgage? The following are reasons to consider a refinance:
1) Lower your monthly payment.
2) Decrease your mortgage term to pay off your home much sooner. In many cases, your new payment may not be much more, if any, than your current payment.
3) Eliminate PMI (Private Mortgage Insurance) from your payment to lower your monthly obligation.
4) Receive cash back. Texas allows you to obtain a new mortgage up to 80% of your appraised value. This will pay off your current mortgage and allow you to receive cash or pay off debt.