Home Loans In Shreveport, Louisiana

Situated on the banks of the Red River, Shreveport is the economic and cultural center of AR-LA-TX, the confluence of northeastern Texas, southern Arkansas, and northwestern Louisiana.

Shreveport, Louisiana, is among the few places where the American dream remains alive. The city is ranked as one of the most affordable areas to live in the state, allowing residents to maintain a higher standard of living. Many people who live or relocate here can afford to purchase a home or a larger one compared to other cities with the same amount of money.

If you are interested in buying a home in Shreveport, we can help you find the right home loan to finance it. Capital Home Mortgage provides a diverse range of home loan programs to meet the needs of a wide range of homebuyers.

Home Loan Programs In Shreveport, LA

Shreveport residents can choose from three main types of home loans:

1. Government-Insured and Guaranteed Mortgages

As the name suggests, these are home loan programs backed by the federal government. They are designed to help average and low-income Americans obtain mortgage products that will allow them to become homeowners.

Because the government insures these mortgages, they are generally easier to qualify for and ideal for first-time homebuyers with low credit scores and small down payments.

The most common types are as follows:

• FHA Mortgages

The Federal Housing Administration manages this program. With its more relaxed qualifications and 3.5 percent down payment requirement for borrowers, and a credit score of at least 580, an FHA loan is often the best option for first-time homebuyers.

• USDA Loans

This program, overseen by the United States Department of Agriculture, is ideal for borrowers who want to own a home in a qualified rural area. USDA loans provide 100% financing with no money down.

• VA Home Loans

This program is handled by the United States Department of Veterans Affairs and is exclusive to active or retired veterans and their spouses. If you are eligible for a VA home loan, you may be able to get a mortgage with no money down and an attractive interest rate.

• HUD 184 Mortgages

The HUD 184 home loan program by the U.S. Department of Housing and Urban Development aims to help Native American Indians purchase their own home with as little as 1.25% down. 

2. Conventional Home Loans 

Any mortgage not backed by the government is considered a conventional loan. While government-insured loans are almost always only for purchasing primary homes, conventional home loans can be used to finance primary and secondary residences and investment properties.

You may obtain a conventional loan with a down payment of as little as 3% of the property’s purchase price with impeccable credit, but you’ll have to pay for private mortgage insurance. If you don’t want the added insurance costs, put in at least 20% down. 

Conventional loans are also more challenging to obtain than government-insured loans. You’ll need a credit score of at least 620 to qualify.

3. Jumbo Home Loans 

Jumbo loans are appropriately named because they provide significantly more significant loan amounts than conventional and government-backed loans. A Jumbo home loan is considered a non-qualified mortgage. They are commonly used to finance the acquisition of high-end real estate or homes in expensive areas such as New York, Los Angeles, and Hawaii.

Due to the enormous sums involved, the qualifications for jumbo home loans are more stringent than other types of home loans. They also require more detailed documentation of your financial records. 

Shreveport, Louisiana Mortgage Lender

Capital Home Mortgage is a full-service, direct mortgage lender serving the Shreveport, LA area. If you’re looking for an experienced and reliable mortgage lender in Northwestern Louisiana, we are the perfect team for the job!

At Capital Home Mortgage, we understand that purchasing a home is a significant decision and milestone. Our mortgage professionals work tirelessly to provide our clients with the guidance and education to become more informed homebuyers.  

Get A Quick No-Obligation Quote Today!

At Capital Home Mortgage Shreveport, we offer dedicated points of contact throughout the home loan process to help find you the right program to meet your home buying needs. You can count on us to provide a stress-free home buying experience from beginning to end.

For more information about our home loan programs, call (225) 208-7599.