Capital Home Mortgage Killeen

Killeen Reverse Mortgage Loans

Killeen Reverse Mortgage Lender

Killeen Reverse Mortgage

While a home is an excellent investment, you can capitalize on its value by selling it. If only one piece of real estate is in your possession, you should go in that direction. Using a reverse mortgage, you can generate income from your home. 

A reverse mortgage lets you borrow against your home’s equity in exchange for a stream of payments. The lender will pay you, not the other way. Reverse mortgages are excellent sources of funds for senior citizens.

Reverse mortgages are only for homeowners 62 years and above. So if you’re still below that age, we recommend checking out other mortgage products at Capital Home Mortgage. Reach out to our loan specialists to learn alternative mortgage products for your needs.

Types of Killeen Reverse Mortgage

There are different types of reverse mortgage products in the market today. Each product has pros and cons, but it can be a perfect fit if it matches your need for a reverse mortgage. Let’s discuss each in greater detail.

HECM Reverse Mortgage

A Home Equity Conversion Mortgage (HECM) is today’s most popular reverse mortgage plan. It is backed by the government, making it more accessible to Americans with less-than-perfect credit histories. Most of the reverse mortgages in the market today are HECM. Under HECM, borrowers are free to use the funds for whatever purpose. The Killeen reverse mortgage loan requirements for HECM are as follows:

  1. Be at least 62 years old.
  2. Have enough home equity
  3. Undergo a counseling program of a HUD-certified counselor
  4. Occupy the property mortgaged

The counseling program is essential for HECM. Counseling helps borrowers understand the financial obligations of a reverse mortgage. At Capital Home Mortgage, we have HUD-certified counselors ready to orient you as part of the requirements.

Proprietary Reverse Mortgage

A proprietary reverse mortgage is similar to HECM but not government-backed. It’s more affordable than HECM. The latter is better if your home value exceeds FHA limits. This reverse mortgage is also called a jumbo reverse mortgage. We recommend getting this mortgage if you wish to borrow more significant amounts or if the property mortgaged is expensive. Expect stricter requirements than HECM.

Single-Purpose Reverse Mortgage

The last type of reverse mortgage product is the single-purpose reverse mortgage. From the name itself, this reverse mortgage program has limited uses only. The lender also dictates the use of the fund. Lenders often provide a list of allowed usages. The best use is for real property taxes and home maintenance payments.

Get a Reverse Mortgage in Killeen

Capital Home Mortgage offers reverse mortgages in Killeen. Our direct mortgage lending process helps us provide a smooth and painless application process. Call us at (254) 213-7343 to get started with your application or to get more information.

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 REverse Home Loans

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.

  • Purchase & Refinance
  • Primary Only
  • 62 Years or Older
  • Required Hud Counseling
  • Homeowners Insurance Required
  • Must Continue to Pay Taxes
  • Meet Required Equity Values
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 Texas Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

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