Capital Home Mortgage San Antonio

San Antonio Mortgage Refinance

What is the Purpose of your San Antonio Mortgage Refinance
Reduce the Payment? Shorten the Term? Equity Cash-out?
No Matter the Goal... Capital Home Mortgage has the Texas Loan Program.

San Antonio Rate & Term Refinance

Mortgage refinancing simply means replacing your existing mortgage with a new one with better terms. There are many reasons to refinance a loan. You may want to lower the interest rate of your current loan, decrease the length of your mortgage, lower your monthly payment, or a combination of them.

For FHA-insured loan holders, the primary reason is to eliminate the mortgage insurance premium (MIP). Many borrowers who took FHA loans mainly refinance into a conventional loan after getting enough home equity.

What is Rate & Term Refinance?

A rate & term refinancing agreement is a refinancing product that replaces your existing loan with another loan. This new loan has a better interest rate and monthly amortization. This mortgage is called “no cash-out refinancing” because borrowers won’t get cash from the mortgage. The aim is to cut the borrower slack by agreeing on favorable terms. 

Rate and Term Refinance Basics

Refinancing is done to restructure debt. You can refinance to obtain better loan terms and change interest rates. For example, you can refinance to switch from an adjustable-rate mortgage to a fixed-rate mortgage if the mortgage rates are expected to rise soon.

A typical scenario of rate & term refinancing occurs to borrowers who took conventional conforming loans with less than a 20% down payment. Under the terms of the loans, if your down payment is less than 20%, you must carry private mortgage insurance (PMI) on top of the principal and interest payment. Once borrowers have obtained enough equity, they can refinance the loan and eliminate the mortgage insurance. This is typically true for current FHA loan homeowners. They must refinance to a conventional conforming loan to eliminate all FHA loans’ Mortgage Insurance Premium (MIP) that all FHA loans carry.

Other borrowers also refinance due to financial difficulties and setbacks. In this case, borrowers refinance to extend the loan term to get lower monthly amortizations. Borrowers recently discharged from Chapter 13 Bankruptcy may refinance but are subject to the strict requirements of the lender.

Requirements for Rate & Term Refinance

There are different kinds of refinancing products offered today. You choose conventional refinancing, which can be more affordable if you have a good payment history and a decent credit score. 

A score of 620 is necessary for conventional refinancing. For FHA refinancing, the credit score requirement is 580. For VA loan borrowers, it’s 620, but you can get an interest rate reduction refinance loan or IRRRL with a required credit score of at least 580. 

Apply for a Rate & Term Refinancing Today

Refinance your loan today with Capital Home Mortgage. Our mortgage experts in San Antonio will walk you through the refinancing process. Because we are direct lenders, we handle all applications and fund all approved mortgages with competitive interest rates and minimal processing fees.

Capital Home Mortgage offers rate & term refinancing to qualified borrowers in the San Antonio area. Call us at (210) 634-1225 to speak with our expert loan officers about your rate & term refinance mortgage in San Antonio.

Why San Antonio is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great San Antonio Rates

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

San Antonio Customer Service

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

San Antonio Mortgage Rates

Capital Home Mortgage San Antonio is dedicated to offering Great San Antonio Mortgage Rates.

Call now to speak with a Loan Officer or request a no obligation custom rate quote.

San Antonio FHA Home 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

San Antonio VA Home 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

San Antonio USDA Home 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

San Antonio Conventional Home Refinance

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

San Antonio Jumbo Home 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

San Antonio Reverse Mortgage Refinance Loan

Covert a Traditional Mortgage into an Equity Line… Stop Monthly Mortgage Payments.

  • Primary Residence Only
  • Simple Qualifying – Equity Based
  • Credit Scores Not Applicable
  • Minimum Age 62

San Antonio Native American Refinance Loan

Native American Home Mortgages 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 San Antonio Mortgage Programs

San Antonio Texas Mortgage Team

Conor Hayhurst

Managing Director
NMLS 743506

Kelly Cameron

Loan Officer
NMLS 178093

Kelvin Thompson

Loan Officer
NMLS 2050042

Jonathon Cummins

Loan Officer
NMLS 270657

San Antonio Mortgage Company Reviews