Capital Home Mortgage Austin

Austin Renovation Home Loans

Austin Renovation Mortgage Lender

Renovation Home Loans In Austin

Many new homes are being built around the country, and most sell quickly. Knowing homebuyers can still buy a fixer-upper is reassuring, given how “hot” the property market has recently been.

Home buyers and sellers might benefit from home improvement financing in Austin, Texas. They give homebuyers the option and freedom to buy a house, then make changes to it to suit their preferences. They also let the seller sell the home as-is, sparing them the trouble of performing pointless improvements and repairs before selling.

Types of Home Renovation Loan Programs

  • FHA 203k Home Loans

The FHA 203(k) home loan program enables customers considering buying a fixer-upper that needs numerous repairs and intensive rehabilitation work to combine the cost of the house and these projects into one mortgage. There are two types of 203k loans, (a) standard and (b) limited.

             – Standard 203(k) Loan

You must choose this loan if your home modifications necessitate engineering or architectural drawings and inspections. Additionally, the repairs’ estimated amount should be greater than $35,000. This home loan program essentially pays for the complete demolition and rebuilding of your home. You must keep the original house’s foundation as the requirement for this type of loan.

             – Limited 203(k) Loan

The streamlined or limited 203(k) loan is intended to finance renovations worth no more than $35,000. It’s also crucial to remember that only modifications not requiring engineering or architectural drawings are covered under this mortgage. This loan pays for minor repairs, roof and gutter replacement, interior or exterior painting, and patio installation.

  • FannieMae Homestyle

A government-backed mortgage called the Fannie Mae HomeStyle Renovation loan offers minor home renovation and maintenance. The loan may take the form of a mortgage to acquire a property or refinance an existing mortgage with additional funds for improvements.

The amount of a Fannie Mae HomeStyle loan is limited to 75% of the property’s appraised value “as-completed,” rather than the property’s current pre-renovation value. It is only offered through Fannie Mae-approved lenders. This benefits homeowners who don’t have much home equity to draw upon for loans.

Borrowers may use this loan to purchase an investment property, second house, or principal residence. It has fixed or adjustable interest rates and 15- or 30-year periods. The cash payment for renovations is retained in escrow and must be utilized only for the renovation.

Additionally, any renovation must permanently be affixed to the property and increase its worth. The lender must keep track of the job, have all the supporting documentation, and finish the improvements within a year of receiving the mortgage.

  • FreddieMac ChoiceRenovation

With the help of CHOICERenovation, lenders can offer Freddie Mac loans where borrowers use the loan proceeds to pay for improvements. It fills a void for lenders looking for a credible, traditional product to support renovation finance and give borrowers affordable options.

Borrowers can purchase fixer-uppers through CHOICERenovation, or current homeowners can rehabilitate their properties. This is especially helpful for properties damaged by natural catastrophes and the aging housing market.

Up to a maximum LTV of 95%, borrowers may utilize the mortgage funds to pay for renovations and enhancements. Additionally, the CHOICERenovation program permits specially accredited seller-servicers to provide mortgages before the renovation modifications are finished.

Apply for a Home Renovation Loan in Austin

Capital Home Mortgage will assist you with your Austin home renovation loan application. From conventional and government-backed loans to the rehabilitation mentioned above, we originate many mortgage choices.

As a direct mortgage lender in Texas, we have complete control over the entire process, from application to closing. We’re committed to giving our clients a more straightforward and enjoyable experience with home loans!

For more details on our Austin Renovation Home Loans, contact one of our renovation mortgage specialists at (800) 960-4565.

Why Austin 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

Austin 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

Austin 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 – $715,000
  • High Balance (Varies By County)

Austin 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 – $715,000
  • High Balance (Varies By County)

Austin 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 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?

What 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

Austin 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

Sr Loan Officer
NMLS 914064

Austin Mortgage Company Reviews

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