Capital Home Mortgage

FHA home loans

FHA Mortgage Lender

FHA Home Mortgage Loans

Many people put off buying a house because  ” Let’s Face It ” getting a loan can seem very overwhelming, especially if you’re not in the best financial shape.  Are you concerned that your credit score might get in the way of your chances to get a home loan? Do you think you can’t afford the down payment? Have you gone through foreclosure or bankruptcy in the past?  Are you wondering if a FHA Insured loan is the right home loan program for you? If you’ve always wanted to own a home, but the situations mentioned above keep you from going for it, FHA loans may be the way to go.

How a FHA Loan Works

FHA Home Loan is a mortgage program insured by the US Department of Housing and Urban Development (HUD).  The FHA loans aim to boost the housing market and improve housing conditions across the country by making it easier for persons with marginal credit or lower incomes to get a home loan.  FHA lenders can offer loans with less rigorous conditions to qualified borrowers with the government’s guarantee.

Pros and Cons of a FHA Loan

It’s not difficult to get approved for an FHA loan, as long as you have a stable source of income, enough assets for the down payment and reserves, and a credit score of at least 500.  FHA loans require a mortgage FICO score of at least 580 to qualify for a 3.5% down payment. If your score is below 580 down to 500, you may still be eligible with a 10% down payment, and certain restrictions will apply.

There is no minimum or maximum income requirement to Qualify for a FHA loan.  What’s essential is stable employment and income.  A borrower must have a 2-year verifiable work history; ideally, employed in the same line of work for at least two years. Also, you must be a U.S. citizen or permanent resident with a valid social security number.

Borrowers must have sufficient assets to show where their source of funds to close the loan will come from. Besides the 3.5% down payment requirement, there are also closing costs and prepaid items to contend with. However, FHA allows gifts funds for the down payment and up to 6 percent in seller concessions for closing costs and prepaid items.  While the FHA loan has many positive aspects, it has certain drawbacks that can be huge deal breakers for some borrowers.

Property Standards

To be eligible for an FHA loan, a home must meet strict structural and safety requirements. An FHA-approved appraiser will conduct an inspection to determine whether or not the home meets FHA’s occupancy and property standards. If the home does not pass the inspection, the owners may have to renovate and make the necessary repairs first, or the borrower can look for another property.

Mortgage Insurance Premiums

The most considerable drawback of getting an FHA loan is has to pay two different kinds of Mortgage Insurance Premiums (MIP). The first type of insurance is paid upfront, while the second type is payable monthly as part of your mortgage payments.

In addition, the Mortgage Insurance Premium on FHA loans is for the life of the loan. Unlike conventional loans, the insurance payments do not stop after 20 percent of the equity has been satisfied. The only way to eliminate FHA’s Mortgage Insurance Premium is to refinance to a conventional loan or completely pay off the entire mortgage.

Apply for a FHA Loan

As with most things in life, the FHA loan has two sides. And because every situation is different, it is up to you to decide if the pros outweigh the cons for you. If you’d want a deeper understanding of the credit’s nature and standards, consult our FHA Loan Specialists to get started on your path to homeownership.  Call (800) 804-5181 to speak with our Home Loan Specialists.

Why 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

Capital Home 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

FHA Home Purchase Loans

FHA Purchase Mortgage Lender
FHA Home Loans are mortgage loans for 1st time home buyers, buyers with limited credit, buyers with less than perfect credit and buyers with higher debt to income ratios.  As the goal of FHA is to make homeownership more attainable, FHA underwriting guidelines are less strict than other mortgage loan programs.  This FHA flexibility allows for easier loan qualification making the barrier to homeownership less challenging.
  • Simple Qualifying
  • Smaller Down Payment
  • Seller Paid Closing Costs
  • Flexible Underwriting
  • Higher Debt to Income Ratios Allowed
  • Lower Credit Scores Allowed
  • Manufactured Housing OK

FHA Refinance Home Loans

FHA Refinance Mortgage Loans

FHA offers a streamline refinances that simply reduces the interest rate and lowers the payment or shortens the term of the loan.  This rate and term option can be fully documented loans, or can be reduced documentation. The other FHA option is a cash-out refinance allowing homeowners the ability to access the equity in the property.

FHA Standard Refinance

  • Appraisal Required
  • 97.75% Max Loan to Value
  • Closing Costs Can Be Rolled In
  • 80% Max Loan to for Cash-out
  • Cash-out Option Available
  • County Loan Limits Apply

FHA Streamline Refinance

  • FHA to FHA
  • No Income Qualification
  • No Appraisal Required
  • Closing Costs Cannot Be Rolled In
  • No Lates on Mortgage in Last Year
  • Payment Must Drop on Fixed Rates

FHA Renovation Home Loans

FHA 203K Mortgage Loans

FHA offers both a Steamline and Full Rehabilitation Loans.  This is a great option for 1st time homebuyers looking to purchase a home that needs a little TLC.

  • Purchase & Refinance Options
  • Primary Residences Only
  • Single, Multi Family & Condo’s
  • As-Is Improved Renovated Value
  • 203K Streamline
  • Less < 35K, Cosmetic Repairs Only
  • 203K Full Rehab
  • Greater > 35K, No Restrictions
Home Mortgage Programs

Home Purchase loans

Looking to Purchase a 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, 2nd Home, Investment
  • Low Rates & Fees, No fee Options
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo & Renovation
  • Manufactured, Construction, Reverse

Renovation Home Loans

Looking to Rehab a Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not a renovation loan? Purchase the Perfect Home and make it your own.
  • Remodel, Renovate or Repairs
  • FHA 203K Streamline 
  • FHA Full Documentation Rehab
  • Fannie Mae Homestyle Reno
  • Freddie Mac Home Choice Reno

FHA Home loans

Great 1st Time 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 Payments
  • Flexible Underwriting Guidelines
  • Higher Debt to Income Allowed
  • Lower Credit Scores – Down to 500
  • Down Payment Gifts Allowed

va Home Loans

100% Financing for Vets

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.
  • No Mortgage Loan Limits
  • Simple Qualifying
  • Higher Debt to Income Allowed
  • Lower Credit Scores – Down to 500
  • Manual Underwriting Allowed

Conventional Home loans

Flexibility for 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 Properties
  • Single and Multi-Family Properties
  • Variable Mortgage Insurance Options
  • Low Rates & a Variety of Mortgage Terms
  • Renovation Programs Available

Jumbo Home Loans

Non-Conforming Home Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits. Call today.
  • Primary & 2nd Homes
  • Variety of Mortgage Programs
  • Simple Qualifying for Veterans
  • Investor Specific Guidelines
  • Credit Score Minimums

USDA Home loans

100% Rural 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.
  • Primary Residences
  • No Down Payment Required
  • New Manufactured Homes Allowed
  • Closing Costs / Repairs Rolled In
  • Geographic and Income Limits Apply

Native american Home Loans

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
  • Purchase, Refinance, and Renovation

Manufactured Home loans

Great Alternative Housing

Manufactured Home Loans offer options to purchase an existing residence or build your dream home on your own land. Call today to speak to a Loan Officer.
  • Existing Purchase or Refinance
  • New Construction
  • One Time Close Land/Home Combo
  • Lock at Contract
  • FHA, VA, USDA, Native American

Reverse Mortgage Loans

Your 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
  • No Credit Score Requirements
  • Minimum Age 62
  • Purchase, Refinance, and Cash-Out

Non QM Home loans

Making Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.
  • Purchase, Refinance & Cash-out
  • Primary, Secondary, Investment Properties
  • Full Doc Programs
  • Alt Doc Programs
  • Corporations OK

One Time Close Home Loans

Build Your 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 Residences Only
  • One Time Close
  • Lock Rate at Closing
  • Traditional Final Mortgages
  • No Payments During Construction

Refinance Mortgage loans

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.
  • Lower Monthly Payment
  • Shorten Mortgage Term
  • Streamline Options Available
  • Appraisal Waivers Allowed
  • VA IRRRL’s

Cashout Mortgage Loans

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
  • Dream Vacation
  • Higher Education

Capital Home Mortgage Company Reviews

State Specific Mortgage Information
AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC

Accessibility Toolbar