Capital Home Mortgage Amarillo
Amarillo Cashout Home Loans
Cashout refinance Mortgage Lender AMARILLO Texas
Amarillo Cash-Out Refinance Mortgage
Like most homeowners, you might put so much energy and time into your house. From keeping up with the mortgage to making improvements, your home is probably one of your most significant financial investments. If the time comes when you need money for something else — college tuition, a medical emergency, or just some extra cash, a cash-out refinance can give you the power to access the equity in your home.
Capital Home Mortgage is a direct lender, meaning you can expect to work with an experienced loan officer who processes and underwrites your loan right here in Amarillo. We can respond to your inquiries and help determine if a cash-out refinance is right for you.
What Is an Amarillo Cash-Out Refinance?
A Texas cash-out refinance in Amarillo, also known as Texas Section 50(a)(6) of the Texas Constitution, is when you replace your current mortgage with a new one and take out cash at closing. This refinancing results in a new mortgage loan with a higher principal balance than your previous loan.
You can also lower your interest rates and monthly payments with a cash-out refinance. In this case, you would not receive any cash, but the monthly savings could be substantial.
Meanwhile, you can use the cash you will receive from your Amarillo cash-out refinance for anything. Some common uses include home improvements, debt consolidation, investments, or leisure like having a vacation. The cash you can take out depends on your home’s value and the equity you have built.
Amarillo Cash-Out Refinance Rules
To qualify for a cash-out refinance in Amarillo, you’ll need to meet specific requirements set by the lender. Lenders may have different needs, but most lenders, including Capital Home Mortgage, adhere to general standards.
First, you will need to have equity built up in your home. Equity is the portion of your home you own outright—it is the gap between the value of your house and the balance of your mortgage.
For example, if your home is worth $200,000 and you owe $160,000, you have $40,000 in equity. At Amarillo, we require at least 20% equity to qualify for a cash-out refinance.
You must also have a good credit score. Generally speaking, a credit score of 620 or more is good. If your credit score is below this, you may still be able to qualify for a cash-out refinance, but you may have to pay a higher interest rate.
Finally, your debt-to-income ratio must be 45% or less to qualify, meaning your monthly debts—including your mortgage payment, credit card payments, car payments, etc.—should be less than 43% of your monthly income. On top of that, you will need a steady income so we know you can make your monthly payments.
Get an Amarillo Cash-Out Refinance with Capital Home Mortgage
Are you thinking of getting an Amarillo cash-out refi? With Capital Home Mortgage, you’ve got experts on your side with the knowledge and experience to help you get the financing you need without the hassles. Start your cash-out refinance application by calling (806) 589-3428.
Why Amarillo HomeBuyers are Choosing Capital Home Mortgage
Close On Time
Control of the Loan from Application to Funding
Great Rates & Low Fees
Direct Lender Providing Competitive Rates and Low Fees
Exceptional Customer Service
7 Day a Week Support Application to Final Mortgage Payment
Amarillo 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
Amarillo Conventional Cashout Refinance Loans
- Primary, 2nd & Investment
- Single & Multi Family
- Loan to Value Restrictions
- County Loan Limits Apply
Amarillo Jumbo Cashout Refinance Loans
- Up to 3 Million
- Primary and 2nd Home
- Max Loan to Value Limits Apply
- Investor Approval
Amarillo Reverse Cashout Refinance Loans
- Primary Residence
- Equity Based Qualifying
- Credit Scores N/A
- Minimum Age 62
Texas Mortgage Programs
Texas Home Purchase
Thinking of Buying a Texas Home?
Looking to Purchase a Home? We have the loan 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
Manufactured Home Loans offer options to purchase an existing residence or build your dream home on your own land. Call today to speak to a Loan Officer.
- Existing Purchase or Refinance
- OTC Land/ Home Combo
- Lock Rate Before Completion
- FHA, VA, USDA, & Native Loans
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