Capital Home Mortgage Odessa

Odessa refinance Home Loans

Odessa Refinance Mortgage Lender

Odessa Rate & Term Refinance

Do you wish to benefit from rate changes that have taken place since you first obtained a loan? Are you having issues with your mortgage payments each month? Do you want to switch to a shorter term to reduce interest costs and pay off your mortgage sooner?

With favorable interest rates and numerous new financing options available to homeowners, a rate-and-term refi can be a fantastic tool for anyone looking to lock in monthly savings or pay off their home more quickly.

3 Reasons To Refinance Your Mortgage

Existing homeowners can obtain better loan terms through a rate-and-term refinance. By refinancing your mortgage, you can essentially replace your current loan with a new mortgage arrangement that offers better financial terms and rates.

Here are the top reasons to refinance your mortgage:

     – Lower interest rate

One of the main reasons to refinance your mortgage is to get a lower interest rate. With a lower interest rate, you can save hundreds or even thousands of dollars over the life of the loan, which can improve your monthly cash flow. 

     – Change the loan terms

Changing the term of your mortgage loan to 15 or 20 years can help you pay it off quicker and get out of debt faster. The savings over time can be substantial when you factor in a lower interest rate, but also keep in mind that you will have to budget for higher monthly payments.

     – Switch to a different type of loan

When the fixed-rate introductory period of an adjustable-rate mortgage (ARM) expires, the interest rates are low. Changing to a fixed-rate mortgage provides security and protection against future interest rate increases. 

How Much Does Refinancing Cost?

Although refinancing is expensive, it may be worthwhile under certain conditions. You will have to pay various fees to close the loan, such as the origination cost, home appraisal cost, and the loan’s recording fees. Expect to pay between 2% and 5% of the total loan amount in fees. 

It is, however, possible to reduce your overall refinancing costs by:

           – Boosting your credit. Before refinancing your mortgage, you should focus on enhancing your credit score and debt-to-income ratio to obtain the best rate possible.

           – Negotiating fees. You are in a strong position to negotiate if you have solid credit and a steady income. Use this to your advantage by requesting the lender to waive any applicable fees, such as the origination fee.

           – Working with the same title insurance company. You can save significantly on title fees if you work with the same title insurance company you used when purchasing your home. 

           – Not paying for mortgage points. Mortgage points are fees paid to the lender to lower your interest rate and monthly payment. However, if you have good credit, you may be able to qualify for a low-interest rate without having to pay mortgage points.

           – Comparison shopping for third-party fees. Consider the most affordable options for third-party services, such as title search, home inspection, and survey.

           – Requesting to waive the appraisal fee. Lenders might forego ordering a new appraisal if the property has been recently appraised and market conditions have not changed significantly.

Is Refinancing Worth the Cost?

But how do you determine if it’s beneficial to refinance your mortgage? The answer will vary based on the specifics of your situation, but it all comes down to what you hope to achieve by refinancing your mortgage.

     – Interest Rate Savings

Are you thinking of refinancing your loan to save money throughout the loan’s lifetime? Calculating how much you’ll save after factoring in fees and costs would be best. Refinancing may cost you more money than you’ll save if you plan on selling your home sooner than the five-year payback period.

     – Lower Monthly Payment

You should consider the benefits and drawbacks of refinancing if you’re hoping to lower your monthly mortgage payment. It may not be the best choice if the money you would save each month goes toward closing costs.

Apply For a Rate & Term Refinance

If, after giving it some thought, you still think that refinancing is the right move, Capital Home Mortgage can help you get started. As a direct mortgage lender in Odessa, Texas, we can offer you the most attractive loan terms and interest rates.

What are you waiting for? Get prequalified with us today!

Why Odessa HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

Odessa 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 mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Odessa VA refinance Home Loans

VA Refinance Mortgage Lender

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

VA Streamline Refinance

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

VA Standard Refinance

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

Odessa FHA Refinance home Loans

FHA Refinance Mortgage 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

Odessa Conventional Refinance Loans

Conventional Refinance Mortgage Lender

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 & Flexible Terms
  • Maximum Loan Amount – $766,550
  • High Balance (Varies By County)

Odessa Native American Refinance Loans

Native American Refinance Mortgage Lender

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

Odessa USDA Refinance home Loans

USDA Refinance Mortgage Lender

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

Odessa Reverse Mortgage Refinance

Reverse Refinance Mortgage Lender

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

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

Odessa Texas Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Odessa Mortgage Company Reviews

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