Capital Home Mortgage Maine

Portland, Maine Home Loans

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Portland Mortgage Lender

Home Loans In Portland, Maine

Portland, Maine, is the most desirable destination for homeowners and prospective buyers seeking to relocate from densely populated metropolitan regions. However, as one of the hottest real estate markets in the country, it can be very tough for buyers to secure a home in the area. 

With Portland area housing prices predicted to rise faster than any other region in the United States next year, you’d be wise to begin your search if you’re considering relocating and purchasing a property in Portland! Most importantly, ensure that your finances are to maximize your chances of being approved for a mortgage.

How To Qualify For A Mortgage In Portland

The majority of people who buy a home do so with the assistance of a mortgage. Home loans enable you to afford a property without immediately paying a significant lump sum of cash.

Since mortgages require substantial money on the lender’s part, expect lending institutions to scrutinize the state of your finances before approving or rejecting your application. Though you don’t necessarily need a near-perfect financial situation to be granted a home loan, lenders typically increase the interest rate or require a higher down payment for high-risk borrowers.

The following are the primary factors considered by Portland lenders when evaluating a mortgage application:

  • Your Income & Employment

Having a stable job is a huge plus when applying for a home loan. Upon mortgage application, your lender will require you to submit proof of employment and income, which they will use to determine your capacity to make mortgage payments.

Your income has the most significant impact on the amount of your home loan. During the underwriting, loan underwriters will reconcile your income capacity with the loan amount to ensure that your earnings will be sufficient to cover your mortgage obligations for the term of your loan. 

  • Your Current Debts

Existing debts may or may not harm your mortgage application, but having outstanding financial obligations and high credit utilization will make lenders wary of extending you a loan. 

Lenders will examine your debt-to-income ratio to evaluate whether you fall within the healthy range. The ideal DTI ratio is 43% or lower of your gross income, but some lenders may accept higher DTIs with compensating requirements.

  • Your Assets & Reserves

Lenders may require borrowers to have particular reserve funds before granting them a home loan. It may include bank deposits and savings, retirement accounts, real estate, and investments.

Lenders are more confident extending a loan to those with high asset reserves. This is an added assurance that the borrower will be able to satisfy their obligations in the event of default.

  • Your Financial Records

Although many people with negative financial records have obtained a home loan, we recommend fixing your finances first before applying for a mortgage.

History of credit card misuse, defaults, bankruptcies, and foreclosures will hurt your chances of getting a home loan. If you do qualify, you may end up with a mortgage with less favorable terms.

Portland, Maine Mortgage Lender

Mortgage applications can be a lengthy and tedious process, and your success depends on various criteria. However, at Capital Home Mortgage Portland, we do things a little differently.

Capital Home Mortgage is a direct mortgage lender, which means we have complete control over the entire loans process. This enables us to accept a high volume of home loan requests while offering our clients flexible underwriting and competitive rates. We can provide faster processing times and on-time approvals for Portland home loans.

Your New Home Is Within Reach!

Capital House Mortgage can help you secure the financing you need for your dream home in Portland, Maine.

What are you waiting for? Contact us at (207) 910-6282 to speak with one of our knowledgeable loan officers and receive a no-obligation quote!

 

Why Portland is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great Portland Rates / Low Fees

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

Portland Customer Service

7  Day a Week Support from Application to Final Mortgage Payment. 

Portland Mortgage Rates

Capital Home Mortgage Portland is dedicated to offering Great Portland Mortgage Rates.

Call now to speak with a Loan Officer or request a no-obligation custom rate quote.

Portland Maine Mortgage Loans

Portland Home Purchase

Buying a Portland Home?

  • Primary, 2nd Home, Investment
  • Low Rates & Low Fees
  • Conventional, FHA, VA, USDA
  • Jumbo, Renovation, Manufactured

Portland Renovation Home Loans

Portland Rehab Loans

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or Full
  • Fannie Mae Homestyle Reno
  • Freddie Mac Home Choice Reno

Portland FHA Home Loans

1st Time Portland Homebuyers

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores – Down to 500

Portland VA Home Loans

100% Loans for Portland Veterans

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Credit Scores Down to 500
  • Manual Underwriting Allowed

Portland Conventional Home Loans

Flexibility for Portland Buyers

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Portland Jumbo Home Loans

Great Portland Rates

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Portland USDA Home Loans

Rural Portland Properties

  • Rural Properties Only
  • Primary Residence Only
  • New Manufactured Homes Allowed
  • Closing Costs Can Be Rolled In

Portland Native American Loans

Portland HUD 184 Loans

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Portland Manufactured Home Loans

Portland Mobile Home Loans

  • Existing Purchase or Refinance
  • One Time Close Combo Land & Home
  • Lock Rate Before Completion
  • FHA, VA, USDA, & Native Loans

Portland Reverse Mortgages

Your Portland Home at Work!

  • Primary Residence Only
  • Simple Qualifying – Equity Based
  • Credit Scores Not Applicable
  • Minimum Age 62

Portland Cash-Out Refinance

Portland Equity Refinance

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Debt Consolidation
  • Streamline Options Available

Portland Mortgage Refinance

Portland Rate & Term Refinance

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

Portland Maine Mortgage Team

Conor Hayhurst

Managing Director
NMLS 743506

Damon Embler

Loan Officer
NMLS 882260

Kelly Cameron

Loan Officer
NMLS 178093

Lynette Surman

Loan Officer
NMLS 2097265

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