Capital Home Mortgage Killeen

Killeen refinance Home Loans

Killeen Refinance Mortgage Lender

Killeen Rate and Term Refinance

Your current mortgage terms might be unfavorable due to high-interest rates and mortgage insurance. But that doesn’t mean you should stick with those arrangements for the rest of the mortgage’s term.

In mortgages, there’s a practice called refinancing. Under a refinancing agreement, you’re getting a new mortgage to replace an existing mortgage. Many borrowers refinance their mortgages after paying for several years to take advantage of more favorable times.

At Capital Home Mortgage, we offer rate and term refinance. It’s the most basic refinancing agreement recommended for borrowers looking to lower their interest rate, shorten their loan term, or reduce their monthly payments. Contact our Killeen loan officers to get started with the application.

What is a Rate & Term Refi?

Rate and term refinance is a refinancing agreement that allows borrowers to change the terms of the current mortgage to a favorable term. Under this agreement, you pay off the existing loan with a new one. If the outstanding balance is $300,000, you’ll refinance it by getting a new loan for $300,000. If you’re considering borrowing more than the principal, you should apply for cash-out refinancing. We also offer that product here at Capital Home Mortgage.

Rate and Term Refinance Basics

Rate and term refinancing won’t allow you to borrow money greater than the existing loan’s principal balance. However, you can negotiate the terms of the new mortgage. Most borrowers refinance because they want to lower the loan’s interest rate. Borrowers often get high-interest rates on the first mortgage because of low credit scores or down payment. But as they pay their mortgage on time, borrowers’ credit scores will increase.

Some borrowers refinance because they want to extend the payment term. A longer payment term reduces monthly mortgage payments. You might not mind a longer payment term if you prefer lighter monthly amortizations. Refinancing can help restructure your payment schedules.

Requirements of Rate and Term Refinance

Requirements differ depending on the product you choose. Rate and term refinancing exists in mortgage products like FHA, VA, and conventional loans. If you decide on VA refinancing, you only need a credit score of at least 580 to qualify. Higher down payment may be required if your credit score is 500. For VA borrowers, the VA refinancing program is made through the Interest Rate Reduction Refinance Loan or IRRRL.

Before you apply for refinancing, you must first secure if you have at least 20% equity in your home. Some lenders may impose higher home equity percentages, but 20% is a minimum benchmark.

Refinance Your Loan with Capital Home Mortgage

Apply for refinancing to get better mortgage terms and lower interest in Killeen. Capital Home Mortgage’s direct mortgage lending program lets us give you the best mortgage deals since we handle your application directly until it gets approved. Be part of the many clients that enjoyed our service today.

Call us now at (254) 213-7343 to learn more about rate and term refinancing in Killeen.

Why Killeen HomeBuyers are Choosing Capital Home Mortgage

Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates and Low Fees

Exceptional Service

7 Day a Week Support Application to Final Mortgage Payment

Killeen 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

Killeen VA refinance Home Loans

Proudly Serving Active Duty, Retired and Disabled Veterans to Save Money. Call today to speak to a VA loan officer.

VA Standard Refinance

VA IRRRL Rate & Term
Streamline Option
No Appraisal Required
No Income Verification

VA Streamline Refinance

Cash-Out or Loan Conversion
Full Documentation
Appraisal Required
Income Verification Required

Killeen FHA Refinance home Loans

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.

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

Killeen Conventional Refinance Loans

Conventional Refinance Loans are used for more refinances than any other type of mortgage loan. This is due to Conventional loans allowing for all occupancy and property types and typically don’t require any mortgage insurance due to loan to value requirements. Conventional mortgages due require higher credit scores but offer better rates.

Freddie Mac or Fannie Mae Insured
Primary, 2nd or Investment Homes
Single and Multi Family
Condo’s and Manufactured Homes

Mortgage Insurance Options
Lower Rates & Fleixble Terms
Maximum Loan Amount – $715,000
High Balance (Varies By County)

Killeen Native American Refinance Loans

HUD 184 Refinance Home Loans can streamline rate & term, equity cash-out, or Rehabilitation of current residence.

Cash-Out or Renovation

Appraisal Required
97.75% Max LTV for Rehab
85% Max LTV for Cash-out
County Loan Limits Apply

Streamline Refinance

HUD 184 to HUD 184
No Income Qualification
No Appraisal Required
No Mortgage Lates in Last Year

Killeen USDA Refinance home Loans

USDA Loans Can only be USDA to USDA, meaning you must have a current USDA loan to refinance the loan either as a rate and term or cash-out or renovation.

USDA Non Streamlined

Appraisal / Income Documents
Max LTV Equal to Appraisal
Closing Costs Can Be Rolled In
County Loan Limits Apply

USDA Streamline Refinance

No Appraisal / Income Docs Required
Closing Costs Can Be Rolled In
No Lates on Mortgage in Last Year
Payment Must Drop on Fixed Rates

Killeen Reverse Mortgage Refinance

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
62 Years or Older
Required Hud Counseling

Homeowners Insurance Required
Must Continue to Pay Taxes
Meet Required Equity Values

Texas Mortgage Programs

Texas Home Purchase

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
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.