Capital Home Mortgage San Antonio
San Antonio Cashout Mortgage Refinance
San Antonio Cashout refinance Mortgage Lender
San Antonio Cash-Out Refinance Loans
You’ve probably heard of rate & term refinancing, where the borrower refinances the rate and term of their existing loan. Cash-Out Refinance loans follow a similar structure but with two distinct outcomes.
The first would be paying the outstanding balance of the previous mortgage, while the second would be getting excess cash.
Capital Home Mortgage offers cash-out refinancing to interested borrowers in San Antonio. Speak to our mortgage officers in San Antonio to get more details about cash-out refinancing. In the meantime, let’s discuss the salient features of this loan program.
What is a San Antonio Cash-out Refinancing?
A Texas 50(a)(6) loan (home equity/cash-out refinance) is a loan issued and secured by a lien allowed by the rules of Article XVI, Section 50(a)(6) of the Texas Constitution, which permits a borrower to take equity out of a homestead property under specific conditions. This is commonly referred to as a “Texas Cash-Out.”
This financing allows you to refinance your current mortgage while tapping into your property’s equity. This equity is paid to you in cash at closing.
Texas has no restrictions on how you can use your cash-out equity. You may use the funds to pay off existing credit card bills, consolidate loans, pay for medical bills, or go on a family vacation.
San Antonio Cash-out Refinancing Rules
Texas is a state known for strict home equity laws. The following are Texas state-specific cash-out rules:
- – Maximum 80% LTV = the new loan amount must not exceed 80% of the property’s appraised value;
- – 2% Limited Closing Cost = all the fees a lender can charge must not exceed 2% of the loan amount. It only applies to the lender’s fees, such as origination, processing, and underwriting. However, third-party fees are not included, such as appraisal fees, title insurance, etc.;
- – All Existing Liens Must Be Paid Off = any liens associated with the subject property must be paid at closing. If you have a first and second mortgage or mechanic’s lien, they will be paid at closing before the title company disburses the funds;
- – Waiting Period = You can only avail of the Texas cash-out after having your property for at least six months. You cannot get another cash-out until at least twelve months have passed since your last cash-out refi.
At a minimum, all Texas cash-out loans require a credit score of 620 and a debt-to-income (DTI) back-end ratio of no more than 43%.
Apply for Cash-out Refinancing in San Antonio
Get better terms or access the equity of your property with a cash-out refinance today. Talk to our Mortgage Originators to learn more about the Texas section (a)(6) home equity refinancing program and whether it is the right solution for you. Get in touch now by calling (210) 634-1225.
Why San Antonio 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
7 Day a Week Support Application to Final Mortgage Payment
San Antonio 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
San Antonio Conventional Cashout Refinance Loans
- Primary, 2nd & Investment
- Single & Multi Family
- Loan to Value Restrictions
- County Loan Limits Apply
San Antonio Jumbo Cashout Refinance Loans
- Up to 3 Million
- Primary and 2nd Home
- Max Loan to Value Limits Apply
- Investor Approval
San Antonio Reverse Cashout Refinance Loans
- Primary Residence
- Equity Based Qualifying
- Credit Scores N/A
- Minimum Age 62
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.
- Debt Consolidation
- Investment Opportunities
- Home Improvement
- Vacation or Education