Capital Home Mortgage College Station

College Station Cashout Mortgage Refinance

College Station Cashout refinance Mortgage Lender

College Station Cash-Out Refinance

Here at Capital Home Mortgage, we pride ourselves on providing a comprehensive lineup of mortgage products, including the Cash-Out Refinance program, which lets you convert your home’s equity into cash. Essentially, you get a new mortgage to repay an existing one and take home the excess money. 

To illustrate, let’s assume your home’s market value is $250,000. Suppose you have an outstanding loan balance of $100,000 from a previous mortgage. In that case, you can choose the cash-out refinancing option to pay off the outstanding balance and receive the $150,000 excess cash, which you can spend on home improvements, debt consolidation, investments, or other financial obligations. 

However, one thing to keep in mind is that with a mortgage refinance; you’ll repay a larger loan with different terms. As such, it’s essential to carefully weigh the pros and cons before committing to the program. 

Here’s what it entails.

  • Credit Score Requirements

The minimum credit score requirement for refinancing is 580. It would be best if you had a score of 620 or above to get excess cash from the new mortgage. A refinancing agreement often involves extending payment terms or reducing interest rates. You can loan a higher amount to receive extra money with cash-out refinancing.

  • Debt-to-Income Ratio

Your current DTI ratio must be less than 50% to qualify for cash-out refinancing. For first-time loans, the ideal DTI range is 36% to 43%. However, if you want to increase your chances of getting approved, try to pay off some debts to reach the healthy DTI range. Even if your DTI is below 50% but higher than 43%, lenders will still raise an eyebrow at your financial position.

  • Home Equity Requirement

To qualify for cash-out refinancing, having sizable home equity is crucial. Your home equity is the difference between the outstanding loan balance and the property’s fair market value. For example, you took a $200,000 loan for a property worth $300,000. Assuming you still owe $75,000, your home equity is $225,000.

The home equity will be the basis of the cash-out refinancing. Fluctuations in interest rates and underwriting may affect the loan-to-value. Let’s say that the lender approved up to 94% of your home equity. The maximum loan amount will be $211,500.

Cash-Out Refinance vs. Home Equity Loan

Cash-out refinance takes a new mortgage to pay off an existing one. You get a second mortgage with the home equity as collateral in a home equity loan. To illustrate, let’s assume that the applicant has an outstanding mortgage of $100,000 and home equity of $150,000. In cash-out refinance, the applicant can get a loan based on the home equity and pay off the $100,000.

The applicant will get a second loan with the $150,000 equity loan as collateral in a home equity loan. In the case of a home equity loan, the applicant will have two debts, whereas in cash-out refinancing, there is only one debt.

Apply for Cash-Out Refinance in College Station Today

At Capital Home Mortgage, we offer a streamlined cash-out refinance process, competitive interest rates, and low processing fees. As a direct mortgage lender, we can provide flexible underwriting and quicker approvals since we handle every aspect of the loan process, including funding. 

Let our mortgage specialists help you get the financing you need from your home’s equity today. Get a free quote by calling (979) 393-0049. We look forward to providing your cash-out refinancing in College Station. 

Why College Station 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

College Station 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

College Station Conventional Cashout Refinance Loans

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

College Station 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

College Station Reverse Cashout Refinance Loans

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

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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
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  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

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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
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  • 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

College Station 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

College Station Mortgage Company Reviews

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