Capital Home Mortgage Houston

Houston Renovation Home Loans

Houston Renovation Mortgage Lender

Houston Home Renovation Loan

Need a loan to fix up your home? A home renovation loan is a type of loan product specifically intended to finance the repair or renovation of an existing property. 

At Capital Home Mortgage Houston, we offer a variety of home renovation loans in Houston, including  FHA 203(k) loans, Freddie Mac CHOICERenovation Loans, and Fannie Mae HomeStyle Loans.

Here’s what you need to know about obtaining a Houston home renovation loan.

FHA 203(k) Loans

The FHA 203(k) loan program encourages low- to moderate-income families to buy and renovate old homes. In Texas, you can apply for an FHA 203(k) and purchase a home at a lower price. You can also use this loan for home improvements, remodeling for particular purposes, or adding more rooms. 

There are two types of FHA 203(k) loans:

  • Standard 203(k)

The standard 203(k) loan is for extensive renovation work. It involves significant repairs and changes in the structure of the house. There is no cap for the maximum loan amount, but the property value must be within FHA limits, with repairs and renovations that exceed $35,000. 

You can use the loan proceeds for plumbing and flooring repairs, installation of heat and air-conditioning systems, and renovation projects for seniors and disabled persons. However, luxurious renovations are not included in the allowed renovation projects.

  • Limited 203(k)

Homebuyers and homeowners can finance the cost of both the purchase (or refinancing) of a home and its renovation with a single mortgage, or they can fund the renovation of their current home using Section 203(k) insurance.

If your home doesn’t require much renovation, you can choose the limited 203(k) loan for minimal repairs. Getting a limited 203(k) is more accessible, but the loan cap is only up to $35,000, and the renovation cost must be at least $5,000.

We recommend talking to your contractor first to determine the scope of the renovation work. Our experts at Capital Home Mortgage will then help you assess if it’s qualified for a limited 203(k) or the standard 203(k).

CHOICERenovation Loan

The Freddie Mac CHOICERenovation loan is a counterpart of an FHA 203(k) for Freddie Mac borrowers. First-time homebuyers can get a CHOICERenovation loan to buy a home and pay for its improvements. It’s a consolidated mortgage loan since the proceeds can be used to pay the seller with the excess amount for repairs.

HomeStyle Loan

The Fannie Mae HomeStyle Loan program can cover renovation costs of primary residences, one-unit second homes, and single-unit investment dwellings. However, renovations for manufactured homes are only up to 50% of the “as-completed” appraised value of the property. 

Down payment for this loan program can be as low as 3%, but it can reach up to 25% for a three- or four-unit principal residence.

Apply For A Renovation Loan In Houston

Our mortgage experts will help you explore the right loan for your needs. Capital Home Mortgage is a direct lender, meaning we make all the decisions in the application process. This allows us to offer a streamlined process, flexible underwriting, and competitive interest rates. 

Talk to our mortgage experts today about your home renovation loan in Houston. Call (800) 850-4255 to get started.

Why Houston 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

Houston 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

Houston 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)

Houston 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)

Houston 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

Houston 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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