Capital Home Mortgage Brownsville

Brownsville Renovation Home Loans

Brownsville Renovation Mortgage Lender

Brownsville Home Renovation Loans

Renovation loans are primarily used for restoring homes in dire need of repair, helping revitalize neighborhoods, and allowing buyers to purchase homes in more expensive areas at a lower cost.  

Homes requiring work are rarely listed at full value, allowing more room for negotiations. If you put in the time and patience, you can turn a fixer-upper into the home you’ve always wanted.

What is a Home Renovation Loan?

A home renovation loan is a loan that includes funds for renovating, remodeling, and repairing a home. It’s often a mortgage with extra money for home improvements.

You don’t necessarily have to live in the home already; some home renovation loans can be used to buy a fixer-upper and make upgrades immediately without needing to apply for separate financing.

What Are My Home Renovation Loan Options?

Renovation loans can significantly help homeowners or buyers who want to be more involved in building equity in their homes through home improvements.

These renovation home loan programs will allow you to get more bang for your buck when purchasing a home:

     1. Fannie Mae HomeStyle Renovation loan

Borrowers can use the Fannie Mae HomeStyle Renovation loan to either buy a home that needs repairs or refinance their current mortgage to get money for improvements.

The best thing about the HomeStyle loan is that it’s one loan with one monthly payment that can serve two purposes. You don’t have to take out a loan for the mortgage and another for the repairs. HomeStyle reduces your overall closing costs.

     2. FHA 203(k) loan

The FHA 203(k) loan is the government-backed version of the Fannie Mae HomeStyle Renovation loan. It enables the borrower to finance the purchase of a home and the renovations, all within a single mortgage loan. You can choose between two types of FHA 203(k) loans: the Limited 203(k), which is capped at $35,000, and the Standard 203(k), which is intended for large-scale construction or renovation projects.

The FHA 203(k) can be utilized to fund various home projects, as long as they are not luxury improvements like building a swimming pool or adding a backyard jacuzzi. Moreover, the loan is only for primary homes, not vacation or investment properties.

     3. Home Equity Line of Credit (HELOC) 

The home equity line of credit (HELOC) is a revolving credit line that can be drawn on as needed. HELOCs are similar to credit cards, allowing you to withdraw money anytime. You are also free to pay the balance gradually over time.

     4. Cash-Out Refinance

The cash-out mortgage is one of the most popular ways to fund home improvements. This type of home renovation loan allows you to refinance your home for more money than you currently owe on it and then draw the extra cash to pay for your home improvements. 

One of the most attractive features of a cash-out refinance loan is that it features a fixed interest rate, which can potentially reduce your interest rate or your monthly payments. Aside from conventional refinance loans offered by banks and lenders, the FHA and VA also have cash-out refinance loan programs. 

     5. Freddie Mac Choice Renovation Loan

Freddie Mac Choice Renovation loans allow borrowers to finance the purchase or refinancing of a home and make improvements to the property using a single loan.

This mortgage product allows you to borrow against the future value of your home, which, in comparison to a traditional home equity loan or line of credit, gives you a greater amount of borrowing power.

Which Home Renovation Loan is Right For You?

With so many different ways to finance a home renovation, the question now is: which one should you choose? As unsatisfying as this answer may be, the truth is that “it depends.” The most appropriate loan for your circumstances will depend on many factors, including your credit score, home equity, and the type of project you want to pursue.

When you work with a reputable and experienced mortgage originator like Capital Home Mortgage, we can point you in the right direction. If you need more information about our Brownsville Renovation Home Loans, don’t hesitate to call and speak to one of our Renovation Mortgage Team at (800) 850-4255.

Why Brownsville 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

Brownsville 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

Brownsville 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)

Brownsville 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)

Brownsville 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?

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

Brownsville 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

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