Capital Home Mortgage Austin

Austin FHA home loans

Austin FHA Mortgage Lender

FHA Loans In Austin

Welcome to Capital Home Mortgage Austin. Are you wondering about Austin FHA Home Loans and if an FHA loan is right for you? We can help you understand the advantages of an Austin FHA Home Mortgage and if it is the right loan for you. Capital Home Mortgage is a direct Austin FHA mortgage lenderoffering great mortgage rates with low fees. 

What Is An FHA Loan?

A government-backed mortgage that the Federal Housing Administration insures is known as an FHA loan. FHA home loans are particularly well-liked by first-time homeowners since they have lower minimum credit score requirements and down payments than conventional loans. More than 83 percent of all FHA loan originations were for borrowers buying their first houses, according to the FHA’s 2020 Annual Report.

Although the government insures these loans, third-party mortgage lenders originate and underwrite them.

How Does An FHA Loan Work?

The U.S. Department of Housing and Urban Development is in charge of the Federal Housing Administration (FHA). The Federal Housing Administration insures the loans that FHA-approved lenders originate. All around the United States and its territories, FHA insures mortgages for single-family houses, multifamily buildings, residential care facilities, and hospitals.

Lenders are safeguarded from losses through FHA mortgage insurance. The FHA will pay a claim to the lender for the outstanding principal amount if a property owner defaults on their mortgage. Lenders can provide more mortgages to homebuyers because they are taking on less risk.

Loans must meet specific requirements to be eligible for FHA insurance.

FHA Loan Terms

Fixed interest rate FHA loans have periods of 15 and 30 years. Flexible underwriting requirements set by the agency are intended to help enable borrowers who might not be eligible for private mortgages an opportunity to buy a home.

Mortgage insurance premiums (MIP) are required for FHA loans, and they serve as protection against loss for the lender in the event of a default by the borrower. When borrowers make less than a 20% down payment, mortgage insurance is usually a requirement. The borrower must pay two mortgage insurance premiums on every FHA loan:

  • Upfront: When the borrower applies for the loan, they must pay the upfront mortgage insurance premium, which is 1.75 percent of the total amount. The amount of the financed loan may include the premium.
  • Monthly: Annual mortgage insurance premium: 0.45 percent to 1.05 percent, depending on the loan term (15 vs. 30 years), the amount of the loan, and the original loan-to-value ratio, or LTV. By dividing the premium by 12 as a monthly payment.

FHA Eligibility Requirements

Borrowers must adhere to the following lending requirements to be eligible for an FHA loan:

  • Have a FICO score of 500 to 579 with 10% down or a FICO score of 580 or higher with 3.5% down.
  • A verifiable two-year work and residence history.
  • As demonstrated by bank statements, federal tax returns, and pay stubs, have a reliable source of income.
  • Use the property as your principal residence.
  • Ensure the property is assessed by an FHA-approved appraiser and complies with HUD requirements.
  • Have a front-end debt ratio (monthly mortgage payments) of no more than 36% of gross monthly income.
  • Have a back-end debt ratio (mortgage plus all monthly debt payments) of no more than 45% of gross monthly income (lenders could allow a ratio up to 50 percent, with compensating factors).
  • Following bankruptcy or three years after a foreclosure, wait for one to two years before applying for a loan (lenders might make exceptions on these waiting periods for borrowers with extenuating circumstances).

Apply For An FHA Loan With Capital Home Mortgage

Capital Home Mortgage offers a full range of options for every mortgage need as a direct mortgage lender and servicer. Our FHA loan professionals at Capital Home Mortgage will work with you to find the most acceptable lending package to suit your goals and budget. 

Call (512) 237-7400 to get started on your path to homeownership, or Apply Online to get pre-approved for an FHA home loan in Austin.

Why Austin 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 Payment

Austin 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

Austin FHA Home Purchase Loans

FHA Purchase Mortgage Lender
  • Simple Qualifying
  • Smaller Down Payment
  • Seller Paid Closing Costs
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores Allowed
  • Manufactured Housing OK

Austin FHA Refinance Home Loans

FHA Refinance Mortgage Loans

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

Austin FHA Renovation Home Loans

FHA 203K Mortgage Loans

FHA 203K is a great option for makes cosmetic changes to an older home.  It allows a FHA buyer to update out of date cosmetics of a home as part of purchase or refinance.  Make that old home new with a Streamline 203K renovation.

  • 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
Austin Mortgage Programs

Austin Home Purchase

Thinking of Buying an Austin 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

Austin renovation home loans

Looking to Rehab an Austin 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

Austin FHA Home Loans

Great for 1st Time Austin 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

Austin VA Home Loans

100% Financing for Austin 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

Austin Conventional Home Loans

Flexibility for Austin 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

Austin Jumbo Home Loans

Austin 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

Austin USDA Home Loans

100% Rural Austin 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

Austin Native American Home Loans

Austin 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

Austin Manufactured Home Loans

Great Alternative Austin Housing

Austin reverse mortgages

Your Austin 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

Austin Non QM Home Loans

Making Austin 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

Austin One Time Close Home Loans

Build Your Austin 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

Austin Refinance Mortgage Loans

Austin 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

Austin Cash-out Home mortgages

Austin 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

Austin Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

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