Capital Home Mortgage AustinEl Paso

El Paso Renovation Home Loans

El Paso Renovation Mortgage Lender

El Paso Home Renovation Loans

Home renovation loans are the best approach for homeowners to finance their complete renovation projects. The after-renovation value is the primary consideration for home renovation financing. Renovation loans determine how much a homeowner can borrow by using the home’s expected value following renovations. This allows homeowners to receive a credit for the increase in their home’s value.

Types of Home Renovation Loans

  • FHA 203(k)

The 203(k) loan from the Federal Housing Administration enables buyers of fixer-upper homes to roll in the cost of home improvements with the added benefit of less stringent eligibility standards than other loan programs for renovations.

A 203k loan is a terrific choice whether you want to buy a fixer-upper and use additional funds from the loan to boost its worth or you want to refinance your house so that you can repair it. A type of FHA home renovation loan known as Section 203k contains money to pay for renovation costs in addition to the home’s purchase price. This gives you the option to borrow money based on the projected worth of your house, enabling you to recoup the cost of repairs and improvements from your initial investment.

  • Fannie Mae Homestyle

For consumers who want to finance renovation costs at a low-interest rate, the Fannie Mae HomeStyle loan is a traditional mortgage alternative. To preserve property and live comfortably, homeowners will increasingly need to renovate as the average age of a single-family home approaches 40 years.

  • Freddie Mac Choice Renovation

The Freddie Mac CHOICERenovation mortgage allows homeowners the choice to buy and renovate homes without the requirement for two different loans. Refinancing also makes it possible for current homeowners to include the cost of renovations in the new loan amount.

Because you finance your house loan and repairs with a single mortgage, the CHOICERenovation loan can save you thousands of dollars in unnecessary closing costs. It does away with the hassle and cost of closing on two loans. Instead, it enables borrowers to purchase a house and finance any necessary modifications with only one mortgage loan.

Apply for a Home Renovation Loan with Capital Home Mortgage

Capital Home Mortgage is a direct lender and servicer. We offer a complete line of home renovation loans for El Paso residents. Our highly experienced mortgage team will work with you to provide the best loan program that fits your needs and budget.

Call us at (915) 283-3949 to start your home renovation projects.

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 Renovation 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

El Paso FHA Renovation 203K Loan

Renovation 203K Home Lender
  • Purchase & Refinance
  • Primary, 2nd and Investment
  • As-Completed Values
  • Homestyle Standard
  • HomeStyle Limited > 25K
  • Homestyle Manufactured
  • Homestyle Pools
  • Homestyle Standard
    • 95% Primary LTV 
    • 97% 1st time Buyers LTV
    • 90% Second Home LTV
    • 85% Investment Property LTV

El Paso Fannie Mae Homestyle Loan

  • Purchase & Refinance
  • Primary, 2nd and Investment
  • As-Completed Values
  • Homestyle Standard
  • HomeStyle Limited > 25K
  • Homestyle Manufactured
  • Homestyle Pools
  • Homestyle Standard
    • 95% Primary LTV 
    • 97% 1st time Buyers LTV
    • 90% Second Home LTV
    • 85% Investment Property LTV
Renovation Fannie Mae Homestyle Lender
  • Purchase & Refinance
  • Primary, 2nd and Investment
  • As-Completed Values
  • Homestyle Standard
  • HomeStyle Limited > 25K
  • Homestyle Manufactured
  • Homestyle Pools
  • Homestyle Standard
    • 95% Primary LTV 
    • 97% 1st time Buyers LTV
    • 90% Second Home LTV
    • 85% Investment Property LTV

El Paso Freddie Mac Choice Renovation Loan

  • Up to 97% LTV of “As-Completed”
  • Owner-occupied 1–4 unit Primary 
  • Owner-occupied 1–4 unit Condos 
  • 85% LTV on a 1-unit Investment 
  • 90% on a 1-unit Second Home
  • Credit Scores Down to 620
  • Luxury Renovations are Eligible
Renovation Freddie Mac Choice Home Lender
  • Up to 97% LTV of “As-Completed”
  • Owner-occupied 1–4 unit Primary 
  • Owner-occupied 1–4 unit Condos 
  • 85% LTV on a 1-unit Investment 
  • 90% on a 1-unit Second Home
  • Credit Scores Down to 620
  • Luxury Renovations are Eligible
Not Sure? Take a Look at Other El Paso Mortgage Programs

El Paso 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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