Home Loans In Baton Rouge, Louisiana

Baton Rouge is known for its stunning river views and strategic location. Regardless of your interests, you will likely discover something to enjoy in this city known for its dynamism and diversity.

If you’ve been contemplating purchasing a home in Baton Rouge, now is the time to take action. Interest rates have increased slightly but remain near historic lows, offering some truly unique real estate opportunities.

Like most people, you’re likely to need to get a mortgage to finance your new home. But what if you’ve been denied a conventional loan multiple times because of your income or credit history? Do you still have a shot at homeownership? 

Yes, you do, with government-backed mortgage loans!

Popular Government-Guaranteed Loans

The United States government provides Americans with the assistance they need to become legitimate homeowners. While the government does not make the loans, they provide the security necessary for lenders to extend credit to qualified borrowers at more favorable terms. These mortgages are referred to as ‘government-backed’ or ‘government-insured’ loans.

Government-backed loans are often the best option for borrowers with low credit scores or those unable to make a substantial down payment. 

The three most common types of government-insured home loans are as follows:

• FHA Home Loans

The Federal Housing Administration created the FHA home loan program to simplify Americans with low credit ratings or incomes to obtain mortgage financing. Under this arrangement, borrowers with credit scores as low as 500 may qualify for a home loan if they can make a down payment of at least 10%.

On the other hand, borrowers with a credit score of at least 580 can get a home loan for as low as 3.5 percent down. However, the main issue with FHA loans is that it requires borrowers to pay for mortgage insurance until they have built sufficient equity in their home.

• USDA Loans

Individuals living in rural and suburban areas of the United States may qualify for a USDA-guaranteed home loan.

USDA guaranteed mortgages have fewer mortgage requirements and may require no down payment.

However, the income requirement for a USDA loan is the most stringent. To qualify for a USDA loan, your household income must be below 115% of the area’s median household income, meet the asset requirement, and the property must be located within the USDA eligible area map.

• VA Loans

The VA home loan is reserved for retired or active military personnel in the United States, but one with the most perks. Qualified members or spouses can quickly obtain a VA loan without regard for credit score requirements or down payment requirements.

However, despite these very generous terms, VA loans impose rigorous service requirements to qualify.

Baton Rouge, Louisiana Mortgage Lender

Capital Home Mortgage offers FHA, USDA, and VA loans to qualified home buyers looking for home loans options with more relaxed qualifications and financial requirements. 

We are a direct mortgage lender in Louisiana, which means that we handle every aspect of the loan process, from application to funding. It enables us to offer competitive interest rates, low processing fees, and flexible underwriting policies that will not cause a delay in the closing process.

Your New Home Is Just A Call Away!

Capital Home Mortgage is committed to providing exceptional customer service and a stress-free home buying experience to aspiring Baton Rouge homeowners.

Our mortgage professionals are standing by to assist you in obtaining the best home loan program for your unique circumstances. Apply for a mortgage loan today by calling (225) 208-7599 or contact us through this website.