Capital Home Mortgage Waco

Waco Jumbo Home Loans

Waco Jumbo Mortgage Lender

Waco Jumbo Home Loans

Due to the rapidly increasing home prices in recent years, many homebuyers found themselves ineligible for a conventional loan because the loan amount they need exceeds the Waco, TX loan limits. Like them, you may also need a jumbo loan to finance your home purchase, even if the home you wish to purchase is far from jumbo. 

What is a Jumbo Loan?

Jumbo loans are mortgages that cost more than the maximum allowable amount for conforming loans in the area. The Federal Housing Finance Agency (FHFA) has set a maximum conforming loan amount of $647,200 for 2022. This applies to the vast majority of counties across the country. If you want to buy a home that costs more than this, you will need a jumbo loan.

Jumbo loans are deemed riskier for lenders because they cannot be guaranteed by Fannie Mae and Freddie Mac, leaving the lender unprotected against default losses. That is why lenders impose exacting qualification criteria for jumbo loans to mitigate the risk. You’ll need near-perfect credit, above-average income, and a low debt-to-income ratio to qualify for one. 

Advantages of Getting a Jumbo Loan

Borrowers who qualify for a jumbo loan enjoy the following benefits:

  • Higher loan amounts

The most significant advantage of jumbo loans is the access to a much more substantial loan amount, which can be the deciding factor in acquiring a high-quality residence. 

  • Competitive interest rates

If you meet the high standards and pass the stringent qualification process for jumbo loans, you’ll have access to loan products with some of the lowest interest rates in the market.

  • Loan flexibility

Jumbo loans don’t have to follow FHFA guidelines, which means lenders can give borrowers more freedom to choose what terms work best for them. With a jumbo loan, you can get a fixed-rate mortgage for 15–30 years or an adjustable-rate mortgage with fixed terms of 3–10 years. Other personalized options are also available.

Disadvantages of Jumbo Loans

Every loan has pros and cons, and jumbo loans are no different. Here are some downsides to jumbo loans that you need to be aware of: 

  • Property vetting 

With a jumbo loan, you will have to check out the property to ensure it meets your lender’s jumbo loan requirements. This can be tricky and – quite frankly – stressful because lenders tend to have different rules and requirements.

  • Higher credit score needed 

People with credit scores of 680 or lower will have trouble getting a jumbo loan. If you want a jumbo loan, you’ll have to work on improving your credit score or put in a larger down payment.

  • Above average income

Lenders are very cautious in granting jumbo loans. They want proof of a consistent annual income and personal finances to ensure payment.

  • Cash reserve requirement 

Borrowers may be required to provide (lock up) an additional twelve months of cash reserves at the closing to receive their loan. This protects the lender if the borrower experiences financial difficulties and defaults on the loan.

Your Jumbo Dreams Within Reach

If you live in an expensive area or found your dream home, but it’s a little too expensive for Freddie Mac or Fannie Mae, your only option may be a jumbo loan. 

Capital Home Mortgage offers jumbo loans with great interest rates, and we’ll be more than happy to provide you with the jumbo financing you need to buy your dream home or investment property!

What are you waiting for? Call (254) 213-7343 to qualify for a jumbo loan today!

Why Waco 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

Texas 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

Waco Jumbo Home 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 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

Waco Texas Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

TExas Mortgage Company Reviews

Texas Cities

Houston Home Loans

San Antonio Home Loans

Dallas Home Loans

Austin Home Loans

Fort Worth Home Loans

El Paso Home Loans

Corpus Christi Home Loans

Laredo Home Loans

Lubbock Home Loans

Amarillo Home Loans

Brownsville Home Loans

Killeen Home Loans

Midland Home Loans

Waco Home Loans

Odessa Home Loans

Abilene Home Loans

College Station Home Loans

Beaumont Home Loans

Wichita Falls Home Loans

San Angelo Home Loans

San Marcos Home Loans

Galveston Home Loans

Tyler Home Loans

Mcallen Home Loans

Stephenville Home Loans

Texarkana Home Loans

Round Rock Home Loans

Accessibility Toolbar