Capital Home Mortgage Odessa

Odessa Non Qualified Mortgages

Odessa Non Qualified Mortgage Lender

Odessa Non-Qualified Mortgage

Most mortgage lenders have a similar list of requirements for borrowers. Your application will likely be denied if your income or credit history does not satisfy the stringent requirements for conventional mortgage products. 

But just because you don’t qualify for a conventional loan doesn’t mean you can’t own a home. Capital Home Mortgage makes homeownership possible for Odessa borrowers from diverse financial backgrounds with our non-qualified mortgage products. Contact us today to learn more!

Understanding Non-Qualified Mortgages

To put it simply, a non-qualified mortgage is a home loan that does not adhere to the standards set by conforming mortgages. Also known as “non-conforming loans,” this financing option has much more lenient standards for qualification in terms of debt-to-income ratios, credit scores, and maximum loan amounts. You can get a mortgage even if your credit isn’t perfect because you don’t have to come up with a 20% down payment, as is necessary with conventional loans.

Qualified vs. Non-Qualified Mortgages

The main difference between a qualified mortgage and a non-qualified mortgage is how strictly it follows (or does not follow) the rules for home loan interest rates and fees set by the Dodd-Frank Act and the Consumer Financial Protection Bureau (CFPB).

In a QM loan, lenders follow stringent credit and income verification guidelines to verify the borrower’s ability to repay the loans to protect both parties from overborrowing. Non-QM loans, however, use creative approaches to verifying income.  

Who Can Benefit From Non-Qm Loans?

If you’ve found the house of your dreams but been turned down for a mortgage because you don’t meet qualified mortgage standards, a non-qualified loan may be the solution. A non-qualified mortgage can serve as temporary financing until you can meet the requirements for a conventional loan and refinance. 

If you fit into one of these categories of borrowers, a non-qualified mortgage might be right for you:

– Borrowers with less-than-stellar credit

– Borrowers with a high DTI ratio

– Self-employed borrowers

– Small business owners

– Independent contractors

– Foreign nationals

– Retirees

– Real estate investors 

You may find obtaining a loan from a conventional financial institution challenging if you are in any of the above categories. If you don’t get paid regularly, you may need to provide numerous financial documents to lenders before they decide whether to give you a loan. To make matters worse, having a high credit score and a lengthy credit history may not save an application from being denied outright if the applicant is self-employed.

Apply For a Non-Qualified Mortgage In Odessa

Capital Home Mortgage’s non-qualified mortgage products make the home loan process a breeze. Since there is less documentation for you to complete, we can move swiftly through the loan application and close the mortgage sooner! 

Just in case you’re not sold on a non-qualified mortgage,  our loan officers can help you explore alternative mortgage options and find the right one for you.

Contact us for more information about home loan products by calling (432) 218-4828.

Why Odessa 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

Odessa 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

Odessa 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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