Capital Home Mortgage tuscaloosa
Mortgage Lender Tuscaloosa
Home Loans In Tuscaloosa
Welcome to Capital Home Mortgage Tuscaloosa. Charming is Alabama’s fifth-largest city. It is also the center of industry, commerce, healthcare, and education in West Alabama. With new attractions and spaces rising in Tuscaloosa, current and future residents can look forward to a better quality of life in the city.
If you’ve been planning on buying a home in Tuscaloosa, one of the first things to consider is how to secure the right home loan to finance the purchase.
One of the primary requirements for obtaining a mortgage loan is employment. Let’s walk you through these employment requirements and how they affect your Tuscaloosa home loan application.
Employment Requirements for a Mortgage
Employment is a considerable requirement among lenders because it demonstrates your ability to repay the loan. By looking into your employment details, they’ll get an idea of how much you earn and whether it’s enough to cover your monthly repayments, in addition to your other expenses and debt obligations. The primary consideration is the length of employment. Generally speaking, borrowers should have two (2) years of verifiable employment before they can qualify for a home loan. However, lenders tend to have their policies and requirements concerning the length of work. Under certain circumstances, some lenders may be willing to consider loan applications from borrowers who don’t meet the two-year employment requirement. These include:
High-earning Positions
Say you’ve been working less than a year in a company. Because of your outstanding performance, you’ve been promoted to manager or supervisor of a department. You might not need to have worked for at least two years before applying for a home loan.
Mixed-income Earners
Individuals who earn compensation and business income are called mixed-income earners. The two-year requirement is always required if you’re earning income from multiple sources. Submitting business tax returns and employment tax returns can be proof of income. You can combine your income to qualify for a higher loan amount.
Self-employed Individuals
If you’re an independent contractor or self-employed worker who accepts project-based or commission-based jobs, lenders will typically require two years of steady self-employment. Some lenders may make exceptions of at least one year of steady self-employment if you can provide proof of income stability.
Tuscaloosa, Alabama Mortgage Lender
Steady employment and stable income are significant factors considered in a loan application. However, mortgage requirements aren’t set in stone. At Capital Home Mortgage, Our Tuscaloosa mortgage experts can assist you with concerns about your employment history.
Capital Home Mortgage is a direct mortgage lender, meaning we control the loan process, from application to funding. We also offer on-time proper approvals, competitive interest rates, and a hassle-free application process so you can get more value from your loan.
Get A Home Loan In Tuscaloosa
Whether it’s a Conventional loan or a government-insured FHA loan, or even a Jumbo loan, Capital Home Mortgage Tuscaloosa can help you find the perfect home loan program for your needs.
Get started today by calling (205) 352-1030 for a free and no-obligation quote for your loan.
Why Tuscaloosa 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 Mortgage Payment
Tuscaloosa Alabama 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 the mortgage Securities
- Property securing the mortgage
- occupancy of the property
- Loan to value of the property
- Borrower’s credit worthiness
Tuscaloosa Mortgage Programs
Tuscaloosa Home Purchase loans
Looking to Purchase a Tuscaloosa Home?
- Primary, 2nd Home, Investment
- Low Rates & Fees, No fee Options
- FHA, VA, USDA, Native American
- Conventional, Jumbo & Renovation
- Manufactured, Construction, Reverse
Tuscaloosa Renovation Home Loans
Looking to Rehab a Tuscaloosa Home?
- Remodel, Renovate or Repairs
- FHA 203K Streamline
- FHA Full Documentation Rehab
- Fannie Mae Homestyle Reno
- Freddie Mac Home Choice Reno
Tuscaloosa FHA Home loans
Great 1st Time Tuscaloosa Homebuyers
- Smaller Down Payments
- Flexible Underwriting Guidelines
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Down Payment Gifts Allowed
Tuscaloosa va Home Loans
100% Financing for Tuscaloosa Vets
- No Mortgage Loan Limits
- Simple Qualifying
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Manual Underwriting Allowed
Tuscaloosa Conventional Home loans
Flexibility for Tuscaloosa Homebuyers
- Primary, 2nd Home, Investment Properties
- Single and Multi-Family Properties
- Variable Mortgage Insurance Options
- Low Rates & a Variety of Mortgage Terms
- Renovation Programs Available
Tuscaloosa Jumbo Home Loans
Tuscaloosa Non-Confirming Home Loans
- Primary & 2nd Homes
- Variety of Mortgage Programs
- Simple Qualifying for Veterans
- Investor Specific Guidelines
- Credit Score Minimums
Tuscaloosa USDA Home loans
100% Rural Tuscaloosa Home Loans
- Primary Residences
- No Down Payment Required
- New Manufactured Homes Allowed
- Closing Costs / Repairs Rolled In
- Geographic and Income Limits Apply
Tuscaloosa Native american Home Loans
Tuscaloosa Hud 184 Home Loans
- Primary Residence Only
- Manual Underwriting for All Loans
- No Credit Score Requirements
- Tribal Grants Allowed
- Purchase, Refinance, and Renovation
Tuscaloosa Manufactured Home loans
Great Alternative Tuscaloosa Housing
- Existing Purchase or Refinance
- New Construction
- One Time Close Land/Home Combo
- Lock at Contract
- FHA, VA, USDA, Native American
Tuscaloosa Reverse Mortgage Loans
Your Tuscaloosa Home at Work
- Primary Residence Only
- Simple Qualifying – Equity Based
- No Credit Score Requirements
- Minimum Age 62
- Purchase, Refinance, and Cash-Out
Tuscaloosa Non QM Home loans
Making Tuscaloosa Mortgages Possible
- Purchase, Refinance & Cash-out
- Primary, Secondary, Investment Properties
- Full Doc Programs
- Alt Doc Programs
- Corporations OK
Tuscaloosa One Time Close Home Loans
Build Your Tuscaloosa Dream Home
- Primary Residences Only
- One Time Close
- Lock Rate at Closing
- Traditional Final Mortgages
- No Payments During Construction
Tuscaloosa Refinance Mortgage loans
Tuscaloosa Rate & Term Refinance
- Lower Monthly Payment
- Shorten Mortgage Term
- Streamline Options Available
- Appraisal Waivers Allowed
- VA IRRRL’s
Tuscaloosa Cashout Mortgage Loans
Tuscaloosa Equity Mortgage Loans
- Debt Consolidation
- Investment Opportunities
- Home Improvement
- Dream Vacation
- Higher Education