Capital Home Mortgage San Antonio
San Antonio Renovation Home Loans
San Antonio Renovation Mortgage Lender
San Antonio Renovation Home Loans
Renovating a home often requires a considerable amount. Even if you can finance the renovation out of pocket, using your savings to finance a home renovation might be unwise, especially with the recent wave of economic uncertainties triggered by the COVID pandemic.
If you must renovate your home, consider taking a renovation home loan. You can spread the amount and pay it for several months or even years.
Capital Home Mortgage offers different home renovation loans depending on your qualifications. We have FHA 203(k) loans for those with not-so-good credit scores and history. Moreover, we have conventional renovation loans under Fannie Mae and Freddie Mac. Let’s go over these types of renovation home loans to get a clearer picture of which best suits your requirements.
FHA 203(k) Loans
You can use an FHA 203(k) loan for two purposes. You can use it to renovate an existing home or buy an old house and renovate it. This type of loan is ideal for low-income families who can’t afford a new home. They can use the money to buy an old house for a low price and use the excess funds for renovations and repairs.
Alternatively, you can use this loan to renovate your home if it’s due for repairs or modifications to accommodate more people.
Standard 203(k)
Get the standard 203(k) if you need an extensive renovation. You can use this loan for plumbing, flooring, heating and cooling, and remodeling. There is no cap for the loan amount, but the minimum ask is $5,000. Take note that the total value of the property must be within FHA limits to qualify for this loan. Luxurious and extravagant renovations are not covered in this loan program.
Limited 203(k)
A limited 203(k) loan is ideal if you only need money for minor repairs. It’s capped at $35,000 but usually easier to obtain than a standard 203(k).
Fannie Mae HomeStyle Renovation Loan
The HomeStyle Renovation Loan of Fannie Mae lets you buy a home and use the excess funds for renovations. However, it would help if you first had an approved contractor before using the extra funds. The approved contractor will submit the renovation plans to the bank for a “draw.” The bank will then ensure that work is done before paying the contractor. You can also use this home loan for a one-unit second home or investment home.
Freddie Mac CHOICERenovation Loan
The FreddieMac CHOICERenovation home loan works like HomeStyle Loan but prioritizes specific borrowers. First-time home buyers, rural home buyers, senior homeowners, and multigenerational households can get preference for CHOICERenovation loans. You can finance renovations for up to 75% of your home’s value.
Get a Renovation Home Loan in San Antonio
Talk to our mortgage experts to learn more about the different San Antonio home renovation loans we offer at Capital Home Mortgage. With direct mortgage lending, we can provide you with the best mortgage services and rates since we handle the entire loan process from pre-approval to funding.
Contact our renovation team now by calling (800) 850-4265.
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
Exceptional Service
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 Fannie Mae HomeStyle RenovatioN Loan
Fannie Mae Homestyle Reno is a program that allows a homeowner multiple renovations options… from a simple luxury addition, to small cosmetic updates to a full rehabilitations.
- 95% LTV Primary Residence
- 97% LTV 1st Time Buyer Single Family
- 85% LTV on 1 Unit Investment
- 90% LTV on Second Home
- Purchase & Refinance
- As Completed Values
- Maximum Loan Amount – $715,000
- High Balance (Varies By County)
San Antonio Freddie Mac Choice Mortgage Loans
Freddie Mac Choice Reno is a great alternative to a new home purchase. It allows for a buyer to renovate a home as part of purchase or refinance bringing it back to life. Making your dream home come true might just be updating that older home.
- 95% LTV Primary Residence
- 97% LTV 1st Time Buyer Single Family
- 85% LTV on 1 Unit Investment
- 90% LTV on Second Home
- Minimum Credit Score 620
- Luxury Renovations are Eligible
- Maximum Loan Amount – $715,000
- High Balance (Varies By County)
San Antonio FHA 203K Renovation Loans
FHA offers both a Steamline and Full Rehabilitation Loans. This is a great option for 1st time homebuyers looking to purchase a home that needs a little TLC.
- Purchase & Refinance Options
- Primary Residences Only
- Single, Multi Family & Condo’s
- As-Is Improved Renovated Value
- 203K Streamline
- Less < 35K, Cosmetic Repairs Only
- 203K Full Rehab
- Greater > 35K, No Restrictions
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
