Capital Home Mortgage Midland

Midland Non Qualified Mortgages

Midland Non Qualified Mortgage Lender

Midland Non-Qualified Mortgage

You might need help getting approved for a conventional mortgage loan if you have irregular income or are self-employed. To qualify for a traditional loan, most lenders require regular paychecks or proof of steady income, which is difficult to provide if you don’t have a traditional job.

For those who don’t bring in ordinary income and find conventional loans too tricky to obtain, Capital Home Mortgage can help you acquire the residential or investment property you desire with a non-qualified mortgage.

What is a Non-Qualified Mortgage?

A non-qualified mortgage (non-QM) is a type of mortgage intended to assist homebuyers who cannot satisfy the stringent requirements of a qualifying mortgage. You may need to look into non-qualified mortgages if you are self-employed or lack some of the required documentation for a conventional loan.

Considering the requirements for conventional, qualifying mortgages is the best way to make sense of non-qualifying mortgages. 

You must fulfill the following criteria to be eligible for a conventional mortgage:

  • Income: 

You must be able to demonstrate your income through pay stubs, W-2s, and tax returns.

  • Debt-to-income ratio: 

You must have a debt-to-income ratio (DTI) of no more than 43%. This portion of your monthly income is allocated to paying down debt.

  • No high-risk features: 

Interest-only loans, negative amortization, and balloon payments are all examples of potentially risky loan terms.

  • Loan term: 

The loan repayment term must be at most 30 years.

If you don’t or can’t meet all the criteria above, you may want to speak with a  Capital Home Mortgage loan officer and look into non-qualified mortgages.

Who Benefits from Non-Qualified Mortgage Loans?

If you cannot obtain a qualifying mortgage despite having sufficient income to make your mortgage payments on time and in full each month, a non-QM may be a good option.

Until you meet standard mortgage requirements and can refinance to a traditional loan, a non-qualified mortgage may offer a temporary lending solution.

The following types of borrowers could benefit from a non-QM loan:

  • Retirees
  • Self-employed individuals
  • Real estate investors
  • Business owners
  • Foreign nationals
  • Investors
  • Those who have high assets but low income
  • Those with a high debt-to-income ratio
  • Those with less-than-perfect credit

The existence of non-QMs demonstrates that a wide variety of potential homebuyers can access mortgage financing. Even if you have a low income or a high debt-to-income ratio, it is possible to get a mortgage.

Are Non-Qualified Mortgages Safe?

Knowing that non-QMs are not the same as subprime mortgages will ease your concerns about their safety. There is a misperception that non-QM loans are bad loans because of the housing meltdown during the Great Recession. Today’s non-QMs, however, have their own set of requirements, just like qualified mortgages. 

Apart from the loan documents, the lending process is similar. The “Ability to Repay Rule” applies to both types of loans. Lenders are vulnerable to legal action if they don’t take reasonable steps to verify a borrower’s ability to repay a loan. A nonQM mortgage is on par with any other type of loan.

Buy Your Dream Home Today!

Capital Home Mortgage provides homebuyers in Midland and countrywide with creative ways to finance their homes. 

If you don’t think you’d get approved for a conventional mortgage but still want to buy a home or refinance your current one, we can help. Our non-qualified mortgage products will help you achieve your real estate investment goals or purchase a house you can call your own. We’ll even take care of every loan process step for you.

Contact our professional loan officers at (432) 218-4828 for inquiries and more information about our mortgage loan offers and requirements.

Why Midland 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

Midland 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
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

Midland Texas Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Midland Mortgage Company Reviews

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