Capital Home Mortgage Laredo

Laredo Renovation Home Loans

Laredo Renovation Mortgage Lender

Renovation Home Loans In Laredo

Home improvement loans are vital for buyers and sellers in Texas. They provide purchasers with the option to acquire a home and alter it to their liking, allowing the seller to sell the house as-is. A home renovation loan is a lending instrument designed to finance the restoration or repair of an existing home.

Types of Home Renovation Loans

     1- FHA 203(k) Loans

FHA 203(k) loans are designed for purchasers who wish to acquire and renovate properties requiring substantial work. This FHA-backed loan considers the property’s after-improvement value and allows you to borrow the funds needed to execute the project as part of your primary mortgage.

There are two kinds of FHA 203(k) loans: Standard and Limited. 

  • Standard 203k – The Standard 203K will cover the cost of significant structural and aesthetic repairs/upgrades to your primary house. The amount for repairs and renovations must be at least $35,000.
  • Limited 203k – Typically, the Limited 203(k) loan is used to finance the purchase of a home that requires little renovations. This option does not involve structural work, such as adding extra rooms or landscaping, and the home must be usable during the remodeling period. The limit for repairs under the limited 203(k) program is $35,000.

     2 – Choice Renovation Loan

Freddie Mac’s CHOICERenovation (often spelled “Choice Renovation”) mortgage allows borrowers to purchase and renovate a home without needing two separate loans. Additionally, it permits current homeowners to refinance, incorporating refurbishment costs into the new loan amount. The CHOICERenovation loan can save you hundreds of dollars in closing costs since it combines the financing of your home loan and renovations into one mortgage.

     3 – Home Style Loan

The Fannie Mae HomeStyle Renovation loan is a government-backed mortgage that provides home renovation and repair funding. The loan might be in the form of a mortgage to purchase a home or refinance an existing mortgage with additional funds for home upgrades.

HomeStyle Renovation loan provides the funds necessary for various renovation initiatives, from repairs and energy improvements to landscaping and luxury enhancements. A HomeStyle Renovation loan can be the difference between a house and a dream home, or it can help restore an existing home to its former grandeur.

Apply for a Home Renovation Loan in Laredo

Capital Home Mortgage offers a variety of home improvement loans in Laredo; for more information, please consult with one of our mortgage specialists. Since we handle the entire loan process, from pre-approval to funding, as a direct mortgage lender, we can provide you with the best mortgage services and rates.

Why Laredo is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great Laredo Rates

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

Laredo Customer Service

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

Laredo 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

Laredo 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

Laredo 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

Laredo 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 Laredo Mortgage Programs

Laredo 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

Laredo Mortgage Company Reviews

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