Capital Home Mortgage Abilene

Abilene Cashout Mortgage Refinance

Cashout refinance Mortgage Lender Abilene Texas

Abilene Cash-Out Mortgage Refinance  

Refinancing your mortgage is something to consider a few years later, whether to avail of better mortgage terms or cash out some of the equity in your home.

But first, you need to understand what refinancing is and how the process works to determine if it is for you.

What is Refinancing? 

To refinance is to get a new mortgage replacing the old one. This gives you the freedom to modify key aspects of the loan, including the interest rate, the term of the loan, and the amount borrowed. Most homeowners refinance when they have substantial home equity when the property’s value exceeds the amount owed to the mortgage company.

A rate-and-term refinance only allows you to change your mortgage loan’s interest rate and length. With a cash-out refinance, you can withdraw a portion of your home’s equity in a lump sum and use the funds for whatever purpose.

The refinancing process is very similar to that of a mortgage. You must gather the necessary paperwork and submit it to your chosen lender for consideration.

What Are The Pros & Cons of a Cash-Out Refinance?

Whether for home improvements, debt repayment, or business purposes, a cash-out refinance can be an excellent way to keep the cash flow going. And while a cash-out refi comes with plenty of benefits, it also has several drawbacks. Here are the pros and cons of a cash-out refi.

Pros of Cash-Out Refinancing:

  • Access part of the equity in cash: The most significant advantage of a cash-out refinance is having access to a substantial amount of money, which can be used to make home improvements or pay down debt.
  • Consistent monthly payments: Cash-out refinances are typically offered with a 30-year fixed rate, which means you’ll pay the same amount for the life of the loan. Most home equity loans carry variable rather than fixed interest rates.
  • Increase the value of your home: If you use your cash-out refi for home renovation, the improvements could boost your property’s value and further build your equity.
  • Better than other forms of debt: Most consumers find mortgage debt as the cheapest form of available debt. Compared to credit cards, personal loans, and other forms of debt, mortgages have lower interest rates and more favorable terms.

Cons of Cash-Out Refinancing:

  • Increase in total debt: A cash-out refinance will add to your existing debt. Despite how close you may have been to pay off your original mortgage, any additional cash you obtain will only serve to increase your current debt load. 
  • Higher closing costs: When you refinance your mortgage, you will have to pay closing costs just like you did when you got your first mortgage. Credit checks, home appraisals, and other closing costs can add up to 2% to 4% of the loan amount, so be prepared.
  • Requires plenty of equity: If you recently purchased your home with a low-down payment loan, you may not be eligible for a cash-out refinance because lenders typically require homeowners to keep at least 20% equity in their homes after refinancing.
  • Potential tax implication: A cash-out refinance raises your mortgage debt, which may result in higher tax payments. It’s a good idea to consult with your accountant before applying.

Should you refinance?

If your home has gained considerable equity and you need the money for something that will improve your finances and your ability to repay the loan, a cash-out refinance could be a good option. Most homeowners put their loan money toward:

  • Home Improvements
  • Education Expenses
  • Business Ventures
  • Debt Consolidation

The financial benefits of a cash-out refinance loan are not without the potential for loss. Putting your home up for refinancing is a big decision that should not be made without first doing the necessary research or consulting an expert. 

Capital Home Mortgage is a direct Texas mortgage lender that offers attractive interest rates and terms on cash-out refinance loans. You can count on our experienced and knowledgeable loan officers to give you the advice and information you need to feel better about your loan decision. 

Contact us at (325) 387-8387 to learn more about our home loan and mortgage refinancing offers.

Why Abilene 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

Abilene 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

Abilene Conventional Cashout Refinance Loans

Conventional Cashout Refinance Lender
  • Primary, 2nd & Investment
  • Single & Multi Family
  • Loan to Value Restrictions
  • County Loan Limits Apply

Abilene Jumbo Cashout Refinance Loans

Cash-Out Jumbo Mortgage Refinance Lender
  • Up to 3 Million 
  • Primary and 2nd Home
  • Max Loan to Value Limits Apply
  • Investor Approval

Abilene Reverse Cashout Refinance Loans

Cash-Out Reverse Mortgage Refinance Lender
  • Primary Residence
  • Equity Based Qualifying
  • Credit Scores N/A
  • Minimum Age 62
ABilene Mortgage Programs

Abilene Home Purchase

Thinking of Buying an Abilene 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

Abilene renovation home loans

Looking to Rehab an Abilene 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

Abilene FHA Home Loans

Great for 1st Time Abilene 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

Abilene VA Home Loans

100% Financing for Abilene 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

Abilene Conventional Home Loans

Flexibility for Abilene 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

Abilene Jumbo Home Loans

Abilene 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

Abilene USDA Home Loans

100% Rural Abilene 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

Abilene Native American Home Loans

Abilene 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

Abilene Manufactured Home Loans

Great Alternative Abilene Housing

Abilene reverse mortgages

Your Abilene 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

Abilene Non QM Home Loans

Making Abilene 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

Abilene One Time Close mortgages

Build Your Abilene 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

Abilene Refinance Mortgage Loans

Abilene 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

Abilene Cash-out Home mortgages

Abilene 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

Abilene TExas Mortgage Team

Dale Gremillion

Manager / Sr Loan Officer
NMLS 210325

Conor Hayhurst

Manager / Sr Loan Officer
NMLS 743506

Brad Rund

Director Native American Lending
Director Manufactured Housing

Abilene Mortgage Company Reviews

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