Capital Home Mortgage Pueblo

Pueblo home purchase loans

Home Purchase lender Pueblo

Home Purchase Loans In Pueblo

Home prices in Pueblo, Colorado, have dropped 7.0% yearly in the current housing market. Pueblo homes are on the market for an average of 35 days. 

Purchase Loan Options in Pueblo

Pueblo, Colorado, home buyers have plenty of home loan programs to choose from. The most prevalent among them are the following:

  • Conventional Home Loans

A conventional home loan in Pueblo, Colorado, refers to a mortgage that lacks federal government insurance or guarantee. Private lenders typically provide these loans, generally seen as having more rigorous qualifying requirements than government-backed loans. Conventional loans have a variety of advantages, such as the potential for reduced interest rates for individuals who satisfy the eligibility criteria. Conventional loans can either be conforming or non-conforming.

A conventional conforming loan is a mortgage that follows strict rules and is therefore eligible for purchase by Fannie Mae or Freddie Mac. Loan size limits and borrower criteria are frequently included in these rules. On the other hand, a non-conforming loan falls short of these standards and is therefore ineligible for purchase by these government-sponsored enterprises. As a result, non-conforming loans may have higher interest rates and go through a different underwriting process.

The flexibility of a down payment of 3 – 5% of the home’s value is frequently one of the primary advantages of a conventional-conforming home loan. Borrowers must, however, have a credit score of at least 620 to qualify for such a loan. Other important factors, such as debt-to-income (DTI) ratios, may also be evaluated, with some lenders preferring a DTI of less than 45%.

The 2023 conforming loan limits in Pueblo, Colorado, are $726,200 for a single-unit home, $929,850 for a duplex, $1,123,900 for a triplex, and $1,396,800 for a quadplex.

  • FHA Home Loans

An FHA home loan in Pueblo, Colorado, is a mortgage insured by the Federal Housing Administration under the jurisdiction of the United States Department of Housing and Urban Development (HUD). This insurance allows lenders to give more liberal terms to borrowers, such as lower down payments and less stringent credit score criteria. This makes FHA loans appealing to first-time homebuyers or those with less-than-perfect credit.

Conventional loans, on the other hand, are not insured by the federal government. They frequently have more rigid eligibility requirements, such as higher credit scores and bigger down payments. Conventional loans typically require a credit score of at least 620. Conventional loans may sometimes offer cheaper interest rates to applicants with excellent credit, although FHA loans usually have uniform rates regardless of creditworthiness.

FHA loan eligibility requirements typically include a lower minimum credit score of 580. FHA loans usually require a minimal down payment of 3.5 percent, whereas conventional loans require 5 percent, but highly qualified borrowers may qualify for a 3 percent down payment. Additionally, conventional loans require the applicant to have a debt-to-income ratio (DTI) below 45%, and some may require private mortgage insurance (PMI) if the down payment is less than 20%.

The 2023 FHA loan limits for Pueblo, Colorado, are $472,030 for a one-unit home, $604,400 for a duplex, $730,525 for a triplex, and $907,900 for a quadplex.

  • VA Home Loans

A VA home loan is a mortgage loan guaranteed by the United States Department of Veterans Affairs (VA). This program is only available to American veterans, military members presently serving in the United States military, reservists, and certain surviving spouses. Compared to conventional loans, the VA loan allows qualified individuals to acquire a home without a down payment. Furthermore, VA loans have lower interest rates and less stringent credit standards. To be eligible for a VA loan, you must have served at least 90 days consecutively during wartime or 181 days during peacetime. In addition, you must receive a Certificate of Eligibility (COE) based on your service history and current duty status.

A conventional loan, on the other hand, is not backed by the government. Anyone who meets the lender’s financial criteria can obtain a conventional loan. A minimum credit score of 620 and a down payment of at least 3% are usually required for these loans. Private mortgage insurance (PMI) is required if you put less than 20% down on a conventional mortgage. 

The primary distinction between VA and conventional loans is their eligibility requirements and features. VA loans are restricted to owner-occupied properties only, do not require a down payment or private mortgage insurance, and typically have reduced interest rates. However, a one-time VA funding fee is required. Conventional loans can be used for primary residences, second homes, and investment properties but require a down payment and private mortgage insurance (PMI) if the down payment is less than 20%. While the VA does not designate a minimum credit score for VA loans, many lenders require a score of 620 or higher. Typically, conventional loans require a minimum credit score of 620.

  • USDA Home Loans

In Pueblo, Colorado, a USDA home loan is a mortgage assistance program meant to help low- to very-low-income applicants get good, safe, and sanitary homes in qualifying rural areas. The United States Department of Agriculture (USDA) administers this program, providing direct and guaranteed loan options. The primary purpose is to provide payment support to people who are financially disadvantaged and want to buy a home in rural areas.

Direct Home Loans and Guaranteed Loans are the two primary categories of USDA home loans. The USDA provides Direct Home Loans directly to the borrowers. This loan type is intended to help applicants unable to obtain a loan at a reasonable rate from other lenders. The Guaranteed Loan Program, on the other hand, involves private lenders but comes with a USDA guarantee. Although this program has no specific credit score requirements, applicants must exhibit a willingness and capacity to handle debt. It provides loan guarantees to individuals who meet specific financial standards.

These loan types have different eligibility restrictions. Applicants for Direct Home Loans must be very low to low income and unable to acquire financing from other lenders. While there are no rigorous credit score requirements for Guaranteed Loans, the applicant must demonstrate a capacity to manage debt. Property requirements and income constraints are also important considerations for deciding eligibility. Furthermore, to be approved for either loan type, one must live in an appropriate rural area.

  • Jumbo Home Loans

A jumbo home loan is a type of mortgage that exceeds the Federal Housing Finance Agency’s (FHFA) conventional conforming loan limits. This loan enables you to realize your goal of purchasing a high-value property in Pueblo, Colorado. Unlike conventional loans, Jumbo loans allow you to borrow a substantial amount all at once, making them ideal for high-end or luxury real estate properties.

Key characteristics of a jumbo loan include larger loan limits, flexibility regarding the types of properties that can be financed, and the ability to have co-borrowers on the loan. You can use a jumbo home loan for various property categories, including primary residences, investment properties, and vacation homes. This is one of the most significant benefits of obtaining a jumbo mortgage. These loans typically come with flexible repayment terms that can be adapted to your financial circumstances.

There are a few essential criteria that lenders consider when determining eligibility. Typically, borrowers should have excellent credit, with a FICO score of 740 or higher. In addition, a considerable down payment of 15 to 20% is frequently required, and lenders may also need at least six months’ worth of cash reserves and a low debt-to-income ratio of less than 43%. 

Apply for a Pueblo Home Purchase Loan

Capital Home Mortgage is a direct lender and servicer of mortgages in Pueblo, Colorado, offering consumers various mortgage options. Capital Home Mortgage can identify the financing option that best fits your requirements and budget, regardless of whether you were born in Colorado or are a newcomer. If you need a mortgage to purchase, refinance, or consolidate your loans, we are here to help.

Call (303) 226-1177 to speak with a Pueblo Home Loan Specialist.

Why Pueblo 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

Pueblo 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

Pueblo Home Purchase Loans

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

Pueblo fixed rate Mortgage Loans

All Fixed Rate Mortgage Loans are designed to have equal payments for the specified term. These loans offer predictability and are deemed to be less risky for borrowers. Fixed Rate Mortgage Loans are available with all mortgage products and are typically offered in 15 year and 30 year terms. However, Fixed Rate Mortgage Loans are also offer in 10 year, 20 year and 25 year terms although less common due to demand.

Pueblo Adjustable Rate Mortgage Loans

Adjustable Rate Mortgage Loans known as ARM’s are  available with most mortgage products although limited with FHA, VA and USDA. ARM’s are great fit for homebuyers who plan to sell or refinance their home between 1 and 10 years and are looking for the lowest possible payment.  ARM’s offers lower rates during times where fixed rates are higher. An adjustable rate mortgage is fixed for a specific time then adjusts on a predetermined time period and a predetermined amount based on a financial index and a fixed margin.

Pueblo Mortgage Programs

Pueblo Home Purchase

Thinking of Buying a Pueblo 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

Pueblo renovation home loans

Looking to Rehab a Pueblo 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

Pueblo FHA Home Loans

Great for 1st Time Pueblo 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

Pueblo VA Home Loans

100% Financing for Pueblo 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

Pueblo Conventional Home Loans

Flexibility for Pueblo 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

Pueblo Jumbo Home Loans

Pueblo 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

Pueblo USDA Home Loans

100% Rural Pueblo 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

Pueblo Native American Loans

Pueblo 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

Pueblo Manufactured Home Loans

Great Alternative Pueblo Housing

Pueblo reverse mortgages

Your Pueblo 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

Pueblo Non QM Home Loans

Making Pueblo 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

Pueblo One Time Close mortgages

Build Your Pueblo 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

Pueblo Refinance Mortgage Loans

Pueblo 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

Pueblo Cash-out Home mortgages

Pueblo 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

Pueblo Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Jordan Mowrey

SR Loan Officer
NMLS 210325

Pueblo Mortgage Company Reviews

Colorado Cities

Denver Home Loans

Colorado Springs Home Loans

Aurora Home Loans

Fort Collins Home Loans

Pueblo Home Loans

Boulder Home Loans

Accessibility Toolbar