Capital Home Mortgage Amarillo

Amarillo Renovation Home Loans

Amarillo Renovation Mortgage Lender

Amarillo Home Renovation Loans

Home renovations can be expensive, especially with significant improvements and upgrades. Some renovations require substantial structural changes, which entails high costs. Even if the upgrades are not too costly, some families and homeowners may not necessarily have enough cash to cover minor renovations.

Regardless of the renovation, you can finance it through a home renovation loan.

Capital Home Mortgage offers renovation loans for Amarillo homeowners. Our experts will explain how this mortgage works and if it’s the most appropriate product for your needs. Contact us now or read further to learn more about our home renovation loans in Amarillo.

Types of Home Renovation Loans

We offer three types of renovation loans at Capital Home Mortgage. Each product has its unique characteristics and features. You should pay closer attention to these features to know if they match your renovation needs.

  • Fannie Mae HomeStyle Renovation Loan

The HomeStyle loan from Fannie Mae is a flexible home renovation loan that lets you buy and renovate an old home. If your financial condition can’t afford a new home, renovating an old house is a good alternative. Fannie Mae only allows approved contractors to do the renovation. Find a Fannie Mae contractor before applying for this loan.

  • Freddie Mac CHOICERenovation Loan

CHOICERenovation loans are similar to HomeStyle loans. However, from the name itself, Freddie Mac chooses and prioritizes certain applicants from the name itself. Borrowers who get preference in a CHOICERenovation loan are first-time home buyers, rural home buyers, senior homeowners, and multigenerational households. If you fit in the four prioritized applicants, contact our Amarillo loan officers to get started with this loan. Freddie Mac can finance up to 75% of your home’s value.

  • FHA 203(k) Loans

The FHA is known for its accessible and affordable loan options for borrowers with low credit scores and bad credit history. FHA also offers a renovation loan aside from its standard 203(b) home loan. FHA 203(k) home renovation loans can access financing for minor and major home renovations. Let’s discuss these two in detail.

    • Standard 203(k)

Standard 203(k) is used for properties that need major remodeling or structural repairs. This type of renovation loan has no maximum amount, so that it can accommodate expensive renovations. However, its minimum loan amount is $5,000. Before choosing standard 203(k), your property must be within FHA limits.

    • Limited 203(k)

The Limited 203(k) is commonly used for new roofing, new appliances, or cosmetic repairs such as painting. This program provides financing for new and existing homes that can be remodeled, repaired, or updated for $35,000 or less. You better get a standard 203(k) if your renovation costs more than $35,000.

Get Your Home Renovation Loan in Amarillo

Are you renovating your home? Get a renovation loan in Amarillo today. Capital Home Mortgage is committed to providing clients with a convenient and painless application process. Call (800) 850-4255 to get started. 

Why Amarillo 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

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 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)

Amarillo 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)

Amarillo FHA 203K Renovation Loans

FHA offers both a Steamline and Full Rehabilitation Loans.  This is a great option for 1st time homebuyers looking to purchase a home that needs a little TLC.

  • 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

Amarillo Texas Renovation Mortgage Team

ron ireland

branch manager
NMLS 328363

Doug Harris

Loan Officer
NMLS 2152628

Matt Williams

Sr Loan Officer
NMLS 1945867

chris erwin

Client Relationship Manager
NMLS 914064

Amarillo Mortgage Company Reviews

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