Capital Home Mortgage El Paso

El Paso USDA Home Loans

El Paso USDA Mortgage Lender

USDA Home Loans In El Paso

What is a USDA Home Loan?

A USDA house loan is a mortgage with no down payment for qualifying rural borrowers. The United States Department of Agriculture issues USDA loans through the USDA loan program, often known as the USDA Rural Development Housing Loan Program.

Two USDA Home Loans are available in Texas: (a) Direct and (b) Guaranteed.

  • Direct Loans – 

These mortgages are for applicants from low and very-low-income households. The maximum household income under this program varies by region. 

Also known as the Section 502 Direct Loan Program, it helps low and very-low-income applicants get good, safe, and sanitary housing in qualifying rural areas by increasing their ability to repay loans. Payment assistance is a sort of subsidy that temporarily cuts the mortgage payment. The amount of assistance is determined by the adjusted household income.

  • Guaranteed Loans –

Like an FHA loan and a VA-backed loan, the USDA insures a mortgage provided by a participating local lender, enabling you to get low-interest rates on mortgages without a down payment. However, no money down will require a mortgage insurance premium similar to an FHA loan. 

100% financing is available to eligible applicants for purchasing, construction, rehabilitation, improvement, or relocation of a home in an approved rural area. The program gives a 90% loan note guarantee to approved lenders to reduce the risk of granting 100% loans to qualifying rural homebuyers — meaning there is no down payment required!

Eligibility Requirements for USDA Loans

USDA home loans are the most stringent and challenging to get and qualify for due to their 100% financing nature. There’s an income limit to qualify for a USDA home loan, both Direct and Guaranteed.

  • Credit – Applicants with a credit score of 640 and above will get streamlined processing. However, borrowers with scores below 640 must meet more stringent underwriting standards. Those without a credit score or limited credit history may qualify by providing “nontraditional” credit references, such as rental and utility payment records.
  • Income – You can find the income threshold to qualify for a Direct loan here, whereas the income eligibility requirements for a Guaranteed loan can be found on this page.

Various things are evaluated when establishing an applicant’s eligibility for Single Family Direct Home Loans. Applicants seeking a direct loan must have an adjusted income at or below the statutory low-income limit for the area where they intend to purchase a home and demonstrate a willingness and capacity to repay debt.

Candidates must:

  • Not have access to secure, sanitary housing;
  • Not being able to secure a loan from other sources on terms and conditions that can be expected to be satisfied;
  • Must use the residence as your primary residence;
  • Possess the legal authority to incur debt;
  • Meet citizenship or noncitizen eligibility requirements;
  • Not be banned or excluded from federal program participation.

Properties financed with direct loan money must meet the following requirements:

  • Typically be less than 2,000 square feet;
  • Not have a market value that exceeds the area’s maximum borrowing limit;
  • Not be intended for profit-generating operations;
  • When the title to the property is transferred or the borrower no longer resides in residence, the borrower must refund all or a portion of the payment subsidies received throughout the life of the loan.

Apply for a USDA Loan in El Paso

Capital Home Mortgage is a direct lender and servicer in Texas. Our USDA Home Loan Specialists can assist you in your home loan needs. Call us at (915) 283-3949 to see if you qualify for a USDA home loan in El Paso.

Why El Paso 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

El Paso 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

El Paso USDA Mortgage 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.

  • Guaranteed by US Depart of Agriculture
  • Rural Properties Only
  • 100% Financing
  • No Restrictions on Seller Concessions
  • Low Monthly Mortgage Insurance
  • Acreage Up to 30% of Total Value
  • FHA/USDA Certified Appraisers only
  • Guarantee Fee May be Rolled In
  • New Manufactured Home Only
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

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

El Paso Texas 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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