Capital Home Mortgage New Mexico

New Mexico VA Home Loans

New Mexico VA Mortgage Lender

VA Home Loans In New Mexico

A VA loan allows qualified active-duty service members, veterans, and eligible surviving spouses to finance the purchase of a home without a down payment, mortgage insurance, and more lenient credit requirements. VA loans are zero-down mortgages provided by private lenders and partially guaranteed by the Veterans Affairs (VA) Department.

What is a VA Home Loan?

A VA home loan is a mortgage option backed by the U.S. Department of Veterans Affairs designed to help U.S. veterans, active-duty service members, and widowed military spouses buy, build, repair, or refinance a house. There are different types of VA home loan programs, including VA direct loans and VA-backed loans. VA direct loans are funded and provided by the Department of Veteran Affairs, while VA-backed loans are issued by private lenders such as banks or mortgage companies.

The VA offers a home loan guarantee and other housing-related programs to assist eligible servicemembers, veterans, and surviving spouses in becoming homeowners. To qualify for a VA home loan, you must be a veteran, active-duty service member, reserve or National Guard member, or a surviving spouse. Borrowers must still satisfy the required credit and income criteria for the desired loan amount.

A VA loan entitlement is the maximum loan amount the Veterans Administration will pay your lender if you default on your mortgage loan. This reduces the lender’s risk and enables them to offer favorable terms, such as no or low down payment requirements.

Benefits of a VA Home Loan

VA home loans offer several advantages compared to other loan programs. Some of the most notable benefits include:

  • No down payment required:

One of the most significant benefits of VA loans is that qualified veterans can buy a home with no down payment, allowing them to purchase homes without saving for years for a lump-sum payment.

  • No mortgage insurance required:

Unlike FHA loans, requiring an upfront fee and recurring mortgage insurance fees, VA loans do not require mortgage insurance, which could save borrowers thousands of dollars over the life of the loan.

  • 100% financing:

Financing is available for up to 100% of the purchase price. Borrowers can finance up to 100% of their home’s purchase price with a VA loan, making it easier to buy a home without saving for a significant down payment.

Qualification Requirements of a VA Loan

To qualify for a VA home loan, borrowers must meet several eligibility requirements.

  • Eligibility status:

Borrowers must be active-duty military personnel, veterans, or qualifying beneficiaries such as spouses. Active-duty service requirements vary based on the length of service. You must meet at least one of the following requirements:

  • Minimum of 90 days of continuous active duty during wartime. 
  • A minimum of 181 days of continuous active duty during peacetime.
  • Six years of service in the National Guard or Reserves.
  • Your servicemember spouse was killed in the line of duty.
  • You are the surviving spouse of a service-connected disabled veteran.
  • Certificate of Eligibility (COE):

To be qualified for a VA-guaranteed home loan, borrowers must get a valid COE. They can obtain a COE by completing a completed VA Form 26-1880, Request For A Certificate of Eligibility For Home Loan Benefits, accompanied by proof of military service.

  • Credit, debt, and income:

Lenders will evaluate potential buyers’ credit, debt, and income to determine their eligibility for a VA loan and the interest rates they will offer.

  • Primary residence:

The VA loan must be used to purchase a property for the borrower’s own personal occupancy.

The property must meet the MPRs of the VA, which assure that it is safe, structurally sound, and sanitary. These rules are in place to ensure that the property appeals to the majority of buyers and applies to residential dwellings (up to four units).

  • Intention to occupy:

Borrowers must occupy, or intend to occupy, the home within a reasonable time after closing, often within 60 days.

Apply for a VA Home Loan in Florida

A VA loan benefits the families of active-duty service troops and veterans. Its financing parameters are more liberal and favorable in general than those of competing home loan programs.

Are you eligible for a VA loan? Apply for VA home loan today. Capital Home Mortgage is a direct lender and mortgage servicer. Please call us at (505) 448-8884.

Why New Mexico 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

New Mexico 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

New Mexico VA Purchase Loans

VA Purchase Mortgage Lender

Proudly Serving Active Duty, Retired and Disabled Veterans obtain homeownership.  Call today to speak to a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed
  • No Monthly Mortgage Insurance
  • Seller concessions to 4%
  • higher debt to income Allowed
  • Manufactured homes permitted

New Mexico VA Refinance

VA Refinance Mortgage Lender

Proudly Serving Active Duty, Retired and Disabled Veterans to Save Money.  Call today to speak to a VA loan officer.

  • VA IRRRL Rate & Term
  • Streamline Option
  • No Appraisal Required
  • No Income Verification
  • Cash-Out or Loan Conversion
  • Full Documentation
  • Appraisal Required
  • Income Verification Required

New Mexico VA Eligibility

  • Active Duty – 90 days Wartime / 180 Days Peacetime
  • Honorable Discharged – 22 Months of Completed Service
  • National Guard / Reserves – 6 Years Completed Service
  • Spouse of a Service Member who Died in the line of Duty or Service related Disability
New Mexico Mortgage Programs

New Mexico Home Purchase

Thinking of Buying a New Mexico 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

New Mexico renovation home loans

Looking to Rehab a New Mexico 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

New Mexico FHA Home Loans

Great for 1st Time New Mexico 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

New Mexico VA Home Loans

100% Financing for New Mexico 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

New Mexico Conventional Home Loans

Flexibility for New Mexico 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

New Mexico Jumbo Home Loans

New Mexico 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

New Mexico USDA Home Loans

100% Rural New Mexico 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

New Mexico Native American Home Loans

New Mexico 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

New Mexico Manufactured Home Loans

Great Alternative New Mexico Housing

New Mexico reverse mortgages

Your New Mexico 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

New Mexico Non QM Home Loans

Making New Mexico 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

New Mexico One Time Close Home Loans

Build Your New Mexico 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

New Mexico Refinance Mortgage Loans

New Mexico 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

New Mexico Cash-out Home mortgages

New Mexico 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

New Mexico Mortgage Team

Dale Gremillion

Manager / Sr Loan Officer
NMLS 210325

Conor Hayhurst

Manager / Sr Loan Officer
NMLS 743506

Brad Rund

Director Native American Lending
Director Manufactured Housing

Kathy Rubin

Sr Loan Officer
NMLS 204449

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