Capital Home Mortgage San Angelo
San Angelo Renovation Home Loans
San Angelo Renovation Mortgage Lender
What a new home but don’t want to purchase a home from a builder… Prefer the charm of an older home, or the elegance of a mature neighborhood… Or just want the perfect location close to town. Making your dream home come true might just be in updating that older home.
Capital home mortgage offer all types of renovation loans to make this happen. Take a look at the programs below and give us a call to discuss your options. But with a sufficient amount of savings and the determination to see it through, it’s not impossible. If you’re the ambitious kind and have chosen to renovation or rehab your house instead of buying an already built one, what you’re getting is a construction loan. To explain in full detail, we will tackle construction loans and the many complexities involved in applying for them.
Why San Angelo is Choosing Capital Home Mortgage...
Close On Time with True Approval
Control of the Loan from the Application to Funding.
Great San Angelo Rates
Direct Mortgage Lender Providing Competitive Rates and Low Fees.
San Angelo Customer Service
7 Day a Week Support from Application to Final Mortgage Payment.
San Angelo Mortgage Rates
Capital Home Mortgage San Angelo is dedicated to offering Great San Angelo Mortgage Rates.
Call now to speak with a Loan Officer or request a no obligation custom rate quote.
San Angelo FHA Renovation 203K Loan
FHA offers a rehabilitation loan that can be used either with a purchase of a new home or as part of a refinance. The FHA 203K Home loan is offered to allow homeowners to purchase less than perfect homes or to bring the current home up to date with improvements.
Purchase and Refinance
On Purchase Transactions, Max Loan Amount is lesser of:
- Adjusted As-is Value plus allowable financeable rehabilitation cost plus fees/reserves; or
- 110% of After-Improved Value
(100% for condominiums including site-condos)
On Refinance Transactions, Max Loan Amount is lesser of:
- Existing Debt plus financeable Rehabilitation
- Cost plus Prepaid and Closing Cost; or
- 97.75% multiplied by lesser of:
- As-is value plus rehabilitation cost; • 110% of After-Improved Value
- (100% for condominiums including site-condos)
- PUDs (Planned Unit Developments)
- 1 to 4 Units
- Doublewide Manufactured Home
- Condominium (in FHA Approved Projects) & Site-condo
Mixed Use Properties Allowed:
- A minimum of 51% of the entire building’s square footage must be used for residential use.
FHA 203K Full Rehab
- Full 203K – allows improvements to exceed the 35K cap on renovations. The improvements are not limited cosmetic, but can be include major structural including an addition. This can be combined with a purchase or with a fully documented refinance.
FHA 203K Full Rehab
- Streamline 203K – allows for up to 35K of improvements to be financed into the loan. This can be combined with a purchase or with a fully documented refinance. The improvements are typically cosmetic, but can be limited structural as long as the improvements are not for an addition.
San Angelo Fannie Mae Homestyle Loan
- Simple – Flexible – Affordable
- Purchase or Refinance
- Primary, Secondary, or Investment Properties
- As Completed Values
- 95% Primary LTV
- 97% 1st time Buyers LTV
- 90% Second Home LTV
- 85% Investment Property LTV
- Up to 25K Project Costs Including Fees
- Project is Single Draw
- Alternative to Escrow Holdbacks
- Appraiser to Perform Final
- Install Pool, Pool Decking, Fencing
- Material Draw Available
- Update for Kitchen and Baths,
- Install Energy Efficient Updates
- Deferred Maintenance
San Angelo Freddie Mac Choice Renovation Loan
CHOICERenovation can assist first time homebuyers who want to fix up a more affordable home, current homeowners who are looking to age in place by making needed repairs and improvements, and multi-generational families who need a more customized living space.
- Up to 97% LTV of the “as-completed” value
- 85% LTV on a 1-unit investment property; 90% on a 1-unit second home
- Credit Scores down to 620
- Owner-occupied 1–4 unit condos, PUDs, 1-unit second homes, and investment properties are all eligible
- Luxury renovations and improvements are eligible, like adding a pool or outdoor living area
As inventory becomes increasingly scarce, and home prices remain high, homebuyers are increasingly looking at older, more affordable homes that can be fixed up or customized to their liking. CHOICE Renovation give buyers this opportunity topurchas an older home and make it their own