Capital Home Mortgage El Paso

El Paso Mortgage Refinance

What is the Purpose of your El Paso Mortgage Refinance

El Paso Rate & Term Refinance

A rate and term refinance is a form of refinancing that allows you to exchange unfavorable conditions on your current loan with more favorable terms. When you refinance, you obtain a new loan, pay off your previous mortgage, and then begin making payments on your new loan.

Homeowners refinance for several reasons. They may want to lower their current interest rate to a better and lower rate. Some may reduce the term of their original loan. Others might refinance to a more extended period to lower monthly payments. A rate and term refinance is simply changing the initial term of your original loan to fit your current lifestyle.

Requirements of a Rate and Term Refinance

The requirements to refinance your current loan to a better term depend on your loan type. Credit score requirement varies from one loan product to the next. Income and debt-to-income ratio eligibility requirements follow the same rule depending on what kind of loan you are getting.

Rate & Term Refi vs. Cash-Out Refi

Rate-and-term refinances and cash-out refinances are available to borrowers with different needs. If you are dissatisfied with your monthly payment or interest rate, a rate and term refinance or no cash-out refinance could be the best option. Do you wish to consolidate debt or pay for a significant expense? If so, then a cash-out refi suits your needs.

With a rate-and-term refinance, you can replace your current mortgage with a new one. You can modify your mortgage’s term or interest rate with a rate and term refinance. Refinancing your rate and term can help you spend less over the life of your loan, reduce your monthly payments, or pay off your loan faster. Cash-out refinances differ from rate-and-term refinances because the latter permits you to withdraw cash from your home equity in exchange for a more important principle. You must meet your lender’s income, debt, and credit score standards before you qualify for a refinance.

Apply for a Rate and Term Refi with Capital Home Mortgage

With Capital Home Mortgage, you can refinance your loan right now. Our Mortgage Specialists in El Paso will guide you through the refinancing process. We fund all accepted mortgages with attractive interest rates and low processing costs because we are direct lenders and handle all applications.

Call (915) 283-3949 and start your rate and term refinance application.

Reduce the Payment? Shorten the Term? Equity Cash-out?
No Matter the Goal... Capital Home Mortgage has the Fort Worth Loan Program.

Why El Paso is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great El Paso Rates

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

El Paso Customer Service

7  Day a Week Support from Application to Final Mortgage Payment. 

El Paso Mortgage Rates

Capital Home Mortgage El Paso is dedicated to offering Great El Paso Mortgage Rates.

Call now to speak with a Loan Officer or request a no obligation custom rate quote.

El Paso FHA Home Refinance Loan

FHA offers a streamline refinances that simply reduces the interest rate and lowers the payment or shortens the term of the loan.  This rate and term option can be fully documented loans, or can be reduced documentation. The other FHA option is a cash-out refinance allowing homeowners the ability to access the equity in the property. (Not Allowed in Texas)

FHA Standard Refinance

  • Appraisal Required
  • 97.75% Max Loan to Value
  • Closing Costs Can Be Rolled In
  • 80% Max Loan to for Cash-out
  • Cash-out Option Available
  • County Loan Limits Apply

FHA Streamline Refinance

  • FHA to FHA
  • No Income Qualification
  • No Appraisal Required
  • Closing Costs Cannot Be Rolled In
  • No Lates on Mortgage in Last Year
  • Payment Must Drop on Fixed Rates

El Paso VA Home Refinance Loan

VA Home Mortgages offers two types of refinances. The first is an Interest Rate Reduction Loan known as an IRRRL, which is a VA loan to VA loan.  The second is full documentation as rate and term or cash-out. The IRRRL is the most popular refinance as it requires no income verification, no appraisal, requires that the mortgage payments have been paid on time for the past 7 months and that there is a tangible benefit for the veteran.  Second is a full documentation loan requiring income verification and an appraisal.  This can be either a rate and term conversion from another type of mortgage program or a cash-out of equity. (Texas Excluded)

VA Home Refinance

    • Appraisal Required
    • Closing Costs Can Be Rolled In
    • 90% Max Loan for Rate and Term
    • Cash-out Option Available
    • Primary Residence Only

VA Streamline Refinance

  • VA to VA
  • No Appraisal Needed
  • No Income Documentation Needed
  • Reduced Funding Fee – Financed
  • Primary and Investment Properties

El Paso USDA Home Refinance Loan

USDA Home Mortgages offer only USDA to USDA refinancing. All USDA program guidelines still apply including the geographical and income restrictions.

  • Rural Properties Only
  • Primary Residence Only
  • New Manufactured Homes Allowed
  • Closing Costs & Repairs Can Be Rolled In

El Paso Conventional Home Refinance

Conventional Home Mortgages offers refinancing with higher loan limits and offers more options but require full documentation for income assets and usually an appraisal unless a property inspection wavier is granted.
    • Primary, Secondary & Investment Properties
    • Single Family, Duplex, Tri and 4-Plex
    • Rate and Term
    • Cash-Out Equity
    • Loan to Value Restrictions Apply
    • County Loan Limits Apply

El Paso Jumbo Home Refinance Loan

Jumbo Home Mortgage refinancing requires the same higher credit standards and equity that purchase transactions require. 

  • Up to 3 Million Loan Amounts
  • Up to 90% Loan to Value (Credit Restrictions Apply)
  • Base Loan Amounts Varies by State and County
  • Subject to Investor Requirements

El Paso Reverse Mortgage Refinance Loan

Covert a Traditional Mortgage into an Equity Line… Stop Monthly Mortgage Payments.

  • Primary Residence Only
  • Simple Qualifying – Equity Based
  • Credit Scores Not Applicable
  • Minimum Age 62

El Paso Native American Refinance Loan

Native American Home Loans have 3 types of refinances available, Full Documentation, Streamline and Rehabilitation. 

Native American Renovation Refinance

  • Appraisal Required
  • 97.75% Max Loan to Value
  • Closing Costs Can Be Rolled In
  • 85% Max Loan to for Cash-out
  • Cash-out Option Available
  • County Loan Limits Apply

Native American Standard Refinance

  • HUD 184 to HUD 184
  • No Income Qualification
  • No Appraisal Required
  • Closing Costs Cannot Be Rolled In
  • No Lates on Mortgage in Last Year
  • Payment Must Drop on Fixed Rates
Not Sure? Take a Look at Other El Paso Mortgage Programs

El Paso Texas Mortgage Team

Conor Hayhurst

Managing Director
NMLS 743506

Damon Embler

Loan Officer
NMLS 882260

Kelly Cameron

Loan Officer
NMLS 178093

Dale Gremillion

Managing Director
NMLS 210325

El Paso Mortgage Company Reviews

© 2022 Sun West Mortgage Company, Inc. All Rights Reserved Please Click Here or refer to to see where Sun West Mortgage Company, Inc. (NMLS ID 3277) is a licensed lender and servicer. We are not accepting applications from Georgia or Massachusetts residents or purchasing mortgages secured by Georgia properties at this time. Please Click Here to view Texas Complaint Notice and Servicing Disclosure. Our products and services have no affiliation with or endorsement from any government agency or body. Being High Risk Loans, Non-Conforming Jumbo & Non-QM loans may include higher interest rates, closing costs, Interest-Only periods or Pre-payment penalties. Although Sun West Mortgage Company is approved to conduct business in the state of New York, this website has not yet been approved by the State of New York Department of Financial Services. For properties located in the State of New York, this website can not be used to upload an application, please visit to upload an application.

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