Capital Home Mortgage Killeen

Killeen Renovation Home Loans

Killeen Renovation Mortgage Lender

Killeen Renovation Home Loans

Consider a renovation loan from Capital Home Mortgage Killeen to give your house the makeover it deserves. 

With this financing, you can remodel or revitalize your property and make cosmetic changes like painting and installing new carpets, get rid of old fixtures by replacing them with modern ones (like plumbing), or completely transform one room into something brand-new!

If you’re considering taking out a Killeen renovation loan, here’s everything you need to know.

Types of Renovation Home Loans

There are three main types of loans that can be used for home renovations in Killeen:

  • FHA 203(k) Loans

The FHA 203(k) loan is the most popular home renovated loan. This federally-insured loan is the best option for buyers with low credit scores and poor histories.

Capital Home Mortgage generally requires a credit score of at least 500, whereas other lenders may have a higher minimum. To qualify for this loan, you also need to find a property that needs repair or modernization, serving its purpose of financing the purchase price and cost of renovations.

The minimum down payment for this mortgage is 3.5% if you have a 580 or higher credit score. On the other hand, with a credit score between 500 and 579, you need to put down 10%.

Here are the two types of FHA 203(k) loans:

      • Standard 203(k)

The Standard 203(k) Loan is an excellent option for those looking to make extensive repairs and renovations to their home. These projects comprise but are not restricted to, the following:

        1. Structural changes and room additions;
        2. Major landscaping;
        3. The installation of a swimming pool;
        4. New roofs, gutters, and downspouts.

There is no cap on the maximum loan amount. However, ensure maintaining an FHA-approved property with repairs and renovations exceeding $35,000.

      • Limited 203(k)

The Limited 203(k) Loan is best for minor repairs and renovations, which is ideal when you’re on a budget. These projects have a maximum of $35,000 in total costs. They can include the following:

        1. Kitchen remodeling (cabinets, appliances)
        2. Bathroom remodeling
        3. Replacement of windows, doors, and siding
        4. Roofing repair or replacement
        5. Basement finishing and remodeling
        6. Deck repair or replacement
        7. Appliance replacement and installation
        8. Painting
  • CHOICERenovation Loan

If you’re looking for a way to renovate your home without breaking the bank, a CHOICERenovation Loan may be what you need. This loan offers flexibility and can finance purchase and renovation costs with one convenient loan!

Refinancing is also possible with this loan, provided your renovations don’t exceed 75% of the post-renovation values.

  • HomeStyle Loan

The Fannie Mae HomeStyle Loan program provides affordable financing options for homeowners who want to make moderate home changes or repairs. The loan can be used on renovations of primary residences, one-unit second homes, or single-unit investment dwellings. If you’re looking to purchase a manufactured home because they have different criteria they must meet before approval by the bank.

In addition, the Fannie Mae HomeStyle Loan is designed for those who want to do a high-end renovation.

Finance Your Killeen Home Renovation With Capital Home Mortgage

It’s never too late to make your home more appealing. With our Killeen renovation home loans, you can renovate without spending thousands on new construction or upgrading your home.

At Capital Home Mortgage, we offer a wide variety of renovation home loan products to meet your needs, as well as a streamlined process and flexible underwriting. As a direct lender, we make all these decisions in the application, so there are no unnecessary holdups. 

Contact our Renovation Mortgage Team at (800) 850-4255 to get started.

Why Killeen HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Payment

Killeen Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Killeen Fannie Mae HomeStyle RenovatioN Loan

Fannie Mae Homestyle Reno is a program that allows a homeowner multiple renovations options… from a simple luxury addition, to small cosmetic updates to a full rehabilitations.

  • 95% LTV Primary Residence
  • 97% LTV 1st Time Buyer Single Family
  • 85% LTV on 1 Unit Investment
  • 90% LTV on Second Home
  • Purchase & Refinance
  • As Completed Values
  • Maximum Loan Amount – $766,550
  • High Balance (Varies By County)

Killeen Freddie Mac Choice Mortgage Loans

Freddie Mac Choice Reno is a great alternative to a new home purchase.  It allows for a buyer to renovate a home as part of purchase or refinance bringing it back to life. Making your dream home come true might just be updating that older home.

  • 95% LTV Primary Residence
  • 97% LTV 1st Time Buyer Single Family
  • 85% LTV on 1 Unit Investment
  • 90% LTV on Second Home
  • Minimum Credit Score 620
  • Luxury Renovations are Eligible
  • Maximum Loan Amount – $766,550
  • High Balance (Varies By County)

Killeen FHA 203K Renovation Loans

FHA 203K is a great option for makes cosmetic changes to an older home.  It allows a FHA buyer to update out of date cosmetics of a home as part of purchase or refinance.  Make that old home new with a Streamline 203K renovation.

  • Purchase & Refinance Options
  • Primary Residences Only
  • Single, Multi Family & Condo’s
  • As-Is Improved Renovated Value
  • 203K Streamline
  • Less < 35K, Cosmetic Repairs Only
  • 203K Full Rehab
  • Greater > 35K, No Restrictions
Texas Mortgage Programs

Texas Home Purchase

Thinking of Buying a Texas Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Texas renovation home loans

Looking to Rehab a Texas Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan?  Purchase the Perfect Home and make it your own. Call today.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

Texas FHA Home Loans

Great for 1st Time Texas Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

Texas VA Home Loans

100% Financing for Texas Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

Texas Conventional Home Loans

Flexibility for Texas Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Texas Jumbo Home Loans

Texas Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Texas USDA Home Loans

100% Rural Texas Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

Texas Native American Home Loans

Texas HUD 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Texas Manufactured Home Loans

Great Alternative Texas Housing

Texas reverse mortgages

Your Texas Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • primary residence only
  • simple qualifying – equity based
  • credit scores not applicable
  • Minimum age 62

Texas Non QM Home Loans

Making Texas Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

Texas One Time Close mortgages

Build Your Texas Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.

  • Primary Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage

Texas Refinance Mortgage Loans

Texas Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Texas Cash-out Home mortgages

Texas Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.

  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Vacation or Education

Killeen renovation Mortgage Team

Killeen Mortgage Company Reviews

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