Capital Home Mortgage Florida

Florida refinance Home Loans

Refinance Mortgage Lender Florida

Rate and Term Refinance Loans In Florida

What is a Rate and Term Refinance?

A rate and term refinance is a type of refinancing that enables you to replace unfavorable terms on your current loan with more favorable terms. In a rate and term refinance, you exchange your old mortgage for a new one with, ideally, a lower interest rate and a new mortgage term. This type of refinance modifies the interest rate or term of an existing mortgage without advancing new funds.

Rate & Term Refi vs. Cash-Out Refi

A rate and term refinance differ from a cash-out refinance, which puts money in your pocket at the end of the loan. The goal of a rate and term refinance is to improve your financial situation by lowering your interest rate, modifying the length of your loan, or both. You may need to meet specific credit score and debt-to-income ratio requirements to qualify for a rate and term refinance.

Advantages of a Rate and Term Refinance

Rate and term refinance offer various advantages. They include:

  • Lowering your interest rate:

If current interest rates are lower than when you took out your initial loan, you can achieve a lower rate through refinancing, saving you money over the life of the loan.

  • Lowering your mortgage payment:

By lowering your mortgage payment, refinancing can help you make more room in your monthly budget.

  • Equity builder:

You are increasing your equity and paying down your mortgage faster. Some homeowners refinance into a shorter loan term, such as going from a 30-year mortgage to a 15-year mortgage, to speed up their payoff timetable. This can help you create equity and get out of debt more quickly.

  • Saving money:

You are saving money on interest payments. You can save money on total interest paid throughout the life of the loan by refinancing to a lower interest rate.

  • Suited for financial goals:

More in line with your financial objectives. Rate-and-term refinancing enables you to modify the rate and/or term of your current mortgage to one more aligned with your financial goals.

These advantages can help you improve your overall financial situation and give you more flexibility in managing your mortgage and other financial obligations.

Qualification Requirements of a Rate and Term Refinance

The requirements for a rate and term refinance vary by loan type. Some of the common requirements are as follows:

  • Credit Score:

A minimum credit score of 620 is typically required for most types of loans.

  • Home Equity:

Most lenders prefer that you have 20% equity in your home, but a higher loan-to-value is also acceptable.

  • Debt-to-Income Ratio:

For rate and term refinances, lenders frequently set maximum debt-to-income ratio limits. The actual ratio will differ depending on the lender and loan type.

  • Loan Term:

Most loans require a term of at most 30 years.

  • Appraisal:

Lenders may require a property appraisal to determine the value of your home, which helps them calculate how much they are willing to lend.

These requirements ensure that borrowers can afford the new loan and that the refinance benefits both the borrower and the lender. Remember that particular eligibility criteria may differ based on the lender and the type of loan you want.

Apply for a Rate & Term Refinance with Capital Home Mortgage

Refinance your loan with Capital Home Mortgage today. Our Florida mortgage professionals will help you through the refinancing procedure. We handle all applications and fund all approved mortgages with competitive interest rates and minimal processing fees because we are direct lenders.

Capital Home Mortgage offers qualified customers in Florida competitive rates for rate and term refinancing. Call our Home Loan Experts at (239) 310-5599 to discuss your rate and term refinance. 

Why Florida 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 Mortgage Payment

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

Florida VA refinance Home Loans

VA Refinance Mortgage Lender

Proudly Serving Active Duty, Retired and Disabled Veterans to Save Money.  Call today to speak to a VA loan officer.

VA Standard Refinance

  • VA IRRRL Rate & Term
  • Streamline Option
  • No Appraisal Required
  • No Income Verification

VA Streamline Refinance

  • Cash-Out or Loan Conversion
  • Full Documentation
  • Appraisal Required
  • Income Verification Required

Florida FHA Refinance home Loans

FHA Refinance Mortgage Loans

FHA offers a streamline refinances that simply reduces the interest rate and lowers the payment or shortens the term of the loan.  This rate and term option can be fully documented loans, or can be reduced documentation. The other FHA option is a cash-out refinance allowing homeowners the ability to access the equity in the property.

FHA Standard Refinance

  • Appraisal Required
  • 97.75% Max Loan to Value
  • Closing Costs Can Be Rolled In
  • 80% Max Loan to for Cash-out
  • Cash-out Option Available
  • County Loan Limits Apply

FHA Streamline Refinance

  • FHA to FHA
  • No Income Qualification
  • No Appraisal Required
  • Closing Costs Cannot Be Rolled In
  • No Lates on Mortgage in Last Year
  • Payment Must Drop on Fixed Rates

Florida Conventional Refinance Loans

Conventional Refinance Mortgage Lender

Conventional Refinance Loans are used for more refinances than any other type of mortgage loan. This is due to Conventional loans allowing for all occupancy and property types and typically don’t require any mortgage insurance due to loan to value requirements. Conventional mortgages due require higher credit scores but offer better rates.  

  • Freddie Mac or Fannie Mae Insured
  • Primary, 2nd or Investment Homes
  • Single and Multi Family
  • Condo’s and Manufactured Homes
  • Mortgage Insurance Options
  • Lower Rates & Flexible Terms
  • Maximum Loan Amount – $766,550
  • High Balance (Varies By County)

Florida Native American Refinance Loans

Native American Refinance Mortgage Lender

HUD 184 Refinance Home Loans can streamline rate & term, equity cash-out, or Rehabilitation of current residence.

Cash-Out or Renovation

  • Appraisal Required
  • 97.75% Max LTV for Rehab
  • 85% Max LTV for Cash-out
  • County Loan Limits Apply

Streamline Refinance

  • HUD 184 to HUD 184
  • No Income Qualification
  • No Appraisal Required
  • No Mortgage Lates in Last Year

Florida USDA Refinance home Loans

USDA Refinance Mortgage Lender

USDA Loans Can only be USDA to USDA, meaning you must have a current USDA loan to refinance the loan either as a rate and term or cash-out or renovation.

USDA Non Streamlined

  • Appraisal / Income Documents 
  • Max LTV Equal to Appraisal
  • Closing Costs Can Be Rolled In
  • County Loan Limits Apply

USDA Streamline Refinance

  • No Appraisal / Income Docs Required
  • Closing Costs Can Be Rolled In
  • No Lates on Mortgage in Last Year
  • Payment Must Drop on Fixed Rates

Florida Reverse Mortgage Refinance

Reverse Refinance Mortgage Lender

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
  • 62 Years or Older
  • Required Hud Counseling
  • Homeowners Insurance Required
  • Must Continue to Pay Taxes
  • Meet Required Equity Values
Florida Mortgage Programs

Florida Home Purchase

Thinking of Buying a Florida 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

Florida renovation home loans

Looking to Rehab a Florida 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

Florida FHA Home Loans

Great for 1st Time Florida 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

Florida VA Home Loans

100% Financing for Florida 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

Florida Conventional Home Loans

Flexibility for Florida 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

Florida Jumbo Home Loans

Florida 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

Florida USDA Home Loans

100% Rural Florida 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

Florida Native American Home Loans

Florida 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

Florida Manufactured Home Loans

Great Alternative Florida Housing

Florida reverse mortgages

Your Florida 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

Florida Non QM Home Loans

Making Florida 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

Florida One Time Close Home Loans

Build Your Florida 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

Florida Refinance Mortgage Loans

Florida 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

Florida Cash-out Home mortgages

Florida 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

Florida Mortgage Team

Conor Hayhurst

Manager / Sr Loan Officer
NMLS 743506

Damon Embler

Sr Loan Officer
NMLS 882260

kelvin Thompson

Loan Officer
NMLS 2050042

Dale Gremillion

Manager / Sr Loan Officer
NMLS 210325

Florida Mortgage Company Reviews

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