Capital Home Mortgage Lubbock

Lubbock USDA Home Loans

Lubbock USDA Mortgage Lender

USDA Loans In Lubbock & Surrounding Areas

Homebuyers in rural areas can qualify for a USDA mortgage with no down payment required. The United States Department of Agriculture administers a loan program known as the USDA Rural Development Guaranteed Housing Loan Program, through which it grants USDA loans. Another name for this program is the USDA Loan Program.

How Does The USDA Loan Program Work?

There are two types of USDA Home Loan Programs, Direct and Guaranteed.

  • USDA Direct Home Loan

These mortgages are issued by the USDA and are intended for borrowers with low or extremely low incomes. Different regions have separate minimum required income requirements.

This program is known as Section 502 Direct Loan Program. It helps low- and very-low-income applicants get adequate, safe, sanitary housing in qualifying regions. Payment assistance is a subsidy that temporarily lowers mortgage payments.  The amount of assistance is determined by the adjusted household income.

           – USDA Direct Eligibility Requirements

Several criteria are considered when deciding who gets approved for a Single Family Direct Home Loan. Direct loan applicants must meet some minimal requirements to be eligible, the most basic of which is having an adjusted income at or below the statutory low-income level for the area where they seek to buy a house.

All applicants must meet the following requirements to be eligible for a USDA Direct Home Loan:

  1. Not being able to secure a loan from other sources on terms and conditions that can be expected to be satisfied;
  2. Have no access to housing that is adequate, safe, and sanitary;
  3. Must not be excluded from or prohibited from federally funded programs;
  4. Must be a US Citizen or a qualified resident alien;
  5. Be able to take on a loan obligation legally;
  6. Must occupy the property as a primary residence;
  7. Must not be an income-generating property;
  8. Property must be no more than 2000 square feet;

As the name “Direct” implies, eligible home buyers that meet all the requirements must apply directly to the USDA regional office in their respective areas.

  • USDA Guaranteed Home Loan

USDA Section 502 Guaranteed Loans are only available at a fixed rate of 30 years.

The program reduces the risk of offering 100% loans to eligible rural homebuyers by providing approved lenders with a 90% loan note guarantee. This allows approved lenders to extend 100% loans to eligible rural homebuyers with no money down required.

Prospective home buyers must meet the following requirements to be eligible for the USDA Guaranteed Home Loan Program:

  • Their household income must not exceed 115% of the area median income (AMI);
  • Must occupy the property as a primary residence;
  • Must be a US Citizen or a qualified resident alien.

Apply for USDA Guaranteed Home Loan

Capital Home Mortgage is a USDA-approved lender in Texas that manages the loan application process. Contact one of our USDA home loan consultants at (806) 589-3428 or apply online to initiate your USDA-guaranteed home loan.

Why Lubbock 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

Lubbock 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

Lubbock 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

Lubbock Texas Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Lubbock Mortgage Company Reviews

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