Home Loans In Sacramento, California 

Welcome to Capital Home Mortgage Sacramento. Sacramento is California’s capital and the sixth-largest city in the state. Its real estate market has performed well, even with the fluctuations caused by the pandemic. 

As a fast-growing major city, more and more people are relocating from the super-expensive Bay Area to find reasonably priced homes in Sacramento. It means homeownership here is expected to rise shortly. 

If you’re looking to purchase a home in Sacramento, Capital Home Mortgage can help you obtain the necessary funding to seal the deal. We are a direct mortgage lender offering a wide selection of home loan programs for Sacramento residents. As long as you meet the eligibility requirements, you can expect a streamlined mortgage loan process from application to funding. 

Things You Can Do To Improve Your Home Loan Eligibility In Sacramento 

• Enhance Your Credit Score

Having an excellent credit score is a surefire way to boost your chances of getting approved for a home loan. To achieve that, you’ll need to be responsible for your credit. This means making your monthly repayments on time, paying the amounts due in full, and maintaining a credit utilization ratio below 30%, among others. 

Aim for a credit score over 670 as this is the threshold set by most credit bureaus. That being said, some loans may have a lower credit score requirement, so it’s worth exploring those as well. For instance, the minimum FICO credit score for FHA home loans has been set at 580. 

• Opt For A Joint Home Loan

If you have multiple members in your family who are earning steady incomes, consider applying for a joint home loan with them. For instance, you could file a joint application with your spouse or parent. It considerably improves your home loan eligibility because it means stronger security for the loan. 

Additionally, co-borrowing divides the repayment burden. If your co-borrower has a good credit score, you may be able to obtain the loan at more favorable terms. 

• Clear Your Debt Obligations

When evaluating your Sacramento home loan application, lenders will consider your other debt obligations. They do so by checking your Debt-to-Income ratio. This ratio is expressed as a percentage and measures how your income is channeled towards debt repayments. Good DTI back-end ratio should not exceed 45%. 

• Save Up For A Higher Down Payment

Most home loans are not designed to finance 100% of the loan amount. You’ll need to pay a down payment, and the lender will finance the remaining amount. The higher your down payment, the lower the loan amount will be, which is a good thing because it effectively lowers how much you’ll need to repay. 

• Choose The Right Lender

If you are new to credit, you might be better off working with a mortgage lending company than with a bank. These companies have in-house models that allow for flexible underwriting, competitive interest rates, and lower fees. 

Sacramento, California Mortgage Lender 

Are you looking to obtain a home loan in Sacramento? Capital Home Mortgage is here for you. 

Whether you’re a first-time borrower exploring FHA loans, a seasoned investor considering a Conventional loan, a borrower in good credit standing looking to obtain a Jumbo loan, Capital Home Mortgage has the home loan program for your needs. 

If you are a veteran in need of a VA home loan, we can help you secure the financing you need to achieve your dreams of becoming a homeowner in Sacramento. 

Get Your Home Loan In Sacramento, CA

Buying a home in Sacramento doesn’t have to be a nerve-wracking ordeal. Let our mortgage experts work with you today to help ensure an enjoyable home buying experience. Give us a call at (323) 767-8899 to get started.