Capital Home Mortgage Texas

Texas Mortgage Refinance

What is the Purpose of Your Texas Mortgage Refinance?

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

Texas Rate & Term Refinance

Refinancing a mortgage can be a great decision, especially if you’re struggling to pay your monthly mortgage payments because it’s too expensive. Capital Home Mortgage can help you get better mortgage terms in Texas. Our loan experts will work with you to find the best mortgage deal based on your current mortgage agreement. Contact us now to learn more about our refinancing program.

What is Rate & Term Refinancing?

Refinancing is one way of making monthly amortizations easier. If you think your current mortgage terms are too expensive or disadvantageous with the current economic conditions, you can leverage refinancing to obtain better terms. Refinancing works by getting a new mortgage to pay off the existing one You’ll then continue paying the new one.

A type of refinancing you might be interested in is a rate & term refinance. In this refinancing type, you can obtain better interest rates and mortgage terms but can’t borrow more than the outstanding amount. If you have financial hurdles, you can refinance to a longer term. Moreover, you can also refinance to speed up payments.

Reasons to Get a Rate & Term Refinance

One of the primary reasons why some people refinance is because they want to pay lower interest. Decreasing interest expense is a two-pronged concept. First, you can reduce interest expenses by reducing the mortgage term. Second, you can pay less interest if current interest rates are low. Let’s discuss how these work.

Interest compounds over time. If your mortgage term is 30 years, interest will exponentially grow 30 times because of the compounding effect. It means that interest earns interest. By decreasing the mortgage term to 15 years, interest will only compound for 15 years. Hence, you’re paying lesser interest with a shorter term. But take note that a shorter term means a higher monthly amortization.

You can also reduce interest if current interest rates are lower today. If your rate is lower, the term won’t matter because you’ll still pay lower interest. Contact our Texas refinancing experts to know more about our competitive interest rates at Capital Home Mortgage.

Requirements of a Rate & Term Refi

You’ll need at least a 620 credit score to qualify, but a lower credit score may be required for government-backed products like FHA, USDA, or VA loans

It would help if you also had at least 20% equity in your home and enough cash to cover closing costs.

Note that these are only general requirements, so be prepared to meet more eligibility requirements that our loan officers may ask of you. It helps to have all your supporting documentation ready, so there are no unnecessary back and forths when the application process begins. 

Get Better Mortgage Terms with a Rate & Term Refinance

Capital Home Mortgage helps clients get the best loan products for their needs. We work with you directly to ensure a smooth mortgage process from start to finish. Moreover, we are direct mortgage lenders, so that we can provide loans with flexible underwriting, competitive interest rates, and low fees. 

Call us at (800) 960-4565 and get started with the application. We look forward to working with you to obtain your Texas rate and term refinance.

Why Texas is Choosing Capital Home Mortgage
Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great Texas Rates

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

Texas Customer Service

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

Texas 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

Texas FHA 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
FHA Home Refinance Lender

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

Texas VA 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
Mortgage VA IRRRL Refinance Lender

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

Texas USDA 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
Mortgage USDA Refinance Lender

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

Texas Conventional Refinance Loan

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
Mortgage Conventional Refinance Lender
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

Texas Jumbo 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
Mortgage Jumbo Refinance Lender

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

Texas Reverse Mortgage Refinance

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
Mortgage Reverse Refinance Lender

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

Texas 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
Mortgage Native American Refinance Lender

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 Texas Mortgage Programs

Texas Mortgage Team

Conor Hayhurst

Manager
NMLS 743506

Damon Embler

Sr Loan Officer
NMLS 882260

chris erwin

Sr Loan Officer
NMLS 914064

Dale Gremillion

Manager
NMLS 210325

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