Capital Home Mortgage Abilene

Abilene home purchase loans

Abilene Home Purchase lender

Abilene Home Purchase Loan

Because homes typically increase in value, conventional wisdom tells us that mortgages are exemplary forms of debt. However, this does not mean that you should apply for a mortgage without doing your homework. If you’re considering buying a home in Abilene, Capital Home Mortgage can assist you in locating mortgage options that meet your requirements and price range. But first, it’s a good idea to brush up on your mortgage knowledge. Learn about the best mortgage application practices and what to look for when shopping for one.

Home Loans and Credit Scores

To qualify for a mortgage, you must have good credit. Creditors use your credit score and credit report to determine whether or not you are eligible for a loan and the interest rate they’ll charge you. Therefore, you should obtain your credit score and check your credit report for errors.  The credit score needed to qualify for a mortgage will vary based on the lender and the type of loan you’re trying to get, but a score of 620 or higher is typically required for a conventional mortgage. And while a credit score of 500 will disqualify you from most mortgages, you may be eligible for a home loan through the Federal Housing Administration’s (FHA) program for first-time homebuyers. However, you will need to make a larger down payment with a low credit score.

Mortgage Options and Loan Types

There are many different kinds of mortgages, and they can differ based on the size of the loan, the length of time it will take to pay it back (called the term), the type of interest rate, and whether or not they’re part of a particular program. If you have a stable job that pays well and good credit, you should be able to get a traditional loan with good terms. The vast majority of mortgages are conventional loans. However, if you are a first-time homebuyer or have a unique circumstance, you may be eligible for a special mortgage that is much easier to qualify for. The FHA, the U.S. Department of Agriculture, and the U.S. Department of Veteran Affairs are among the organizations that offer special mortgage programs to eligible borrowers. Find out as much as possible about these programs and how to qualify. If you find the whole process overwhelming, discuss your lifestyle and budget with your lender, so they can help you determine which mortgage option works best for you.

Budget and Down Payment

Lenders will want to ensure you’re not taking on more debt than you can handle. They assess your ability to pay by comparing your mortgage payment to your income. Before you apply for any mortgage, do the math and figure out what you can afford. Aside from your mortgage premiums, don’t forget to account for property taxes, homeowner and mortgage insurance, utilities, and association dues.  You should calculate how much down payment you can afford, as this will directly impact your monthly payments. If you have a large sum of cash on hand, a 20% down will save you from paying mortgage insurance and make you a more qualified buyer, giving you access to better mortgage terms and interest rates.  If you’re strapped for cash, you may obtain an FHA loan for as little as a 3.5% down payment, while some conventional loans are offered at 3% down for borrowers with excellent credit. On the other hand, VA and USDA loans may not require any down payment. 

Mortgage Loan Terms and Interest Rates

A few different loan terms are available, but the most common ones are 15 or 30 years. Loans with shorter terms typically have higher monthly payments but lower interest rates and total costs. Inversely, longer-term loans have lower monthly premiums but higher interest rates and total fees. Additionally, mortgages can have either a fixed or variable interest rate. Loans with fixed interest rates are safer because your monthly payments won’t fluctuate over the loan’s term. Adjustable interest rates may be initially lower, but they are much riskier because, after a fixed period, the rate can increase or decrease based on market conditions, causing your payments to increase or decrease accordingly.

Closing Your Home Loan

Once you’re given the all-clear to close on your new home, your lender will set a closing date. You’ll receive a closing disclosure form three days beforehand, which details the final costs of your mortgage, your loan term, monthly payments, and the closing costs, among other things.  At the closing, read all the documents you receive and ask any questions you may have. After you’ve signed everything, you’ll be handed the keys to your new home!

Purchase a New Home in Abilene

Whether you’re looking to purchase a home in Abilene, TX, or refinance your current mortgage, the loan specialists at Capital Home Mortgage are ready to assist you. In addition to providing excellent service to our clients, our Texas mortgage company also offers a wide variety of mortgage products at low-interest rates and low fees. We can help you evaluate your home loan options and explain the pros and cons of each one, so you can make an informed decision.  Feel free to get in touch with us at (325) 387-8387 whenever it is most convenient for you to do so.
Why Abilene 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

Abilene 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 mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Abilene Home Purchase Loans

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

Abilene fixed rate Mortgage Loans

All Fixed Rate Mortgage Loans are designed to have equal payments for the specified term. These loans offer predictability and are deemed to be less risky for borrowers. Fixed Rate Mortgage Loans are available with all mortgage products and are typically offered in 15 year and 30 year terms. However, Fixed Rate Mortgage Loans are also offer in 10 year, 20 year and 25 year terms although less common due to demand.

Abilene Adjustable Rate Mortgage Loans

Adjustable Rate Mortgage Loans known as ARM’s are  available with most mortgage products although limited with FHA, VA and USDA. ARM’s are great fit for homebuyers who plan to sell or refinance their home between 1 and 10 years and are looking for the lowest possible payment.  ARM’s offers lower rates during times where fixed rates are higher. An adjustable rate mortgage is fixed for a specific time then adjusts on a predetermined time period and a predetermined amount based on a financial index and a fixed margin.

Texas Mortgage Programs

Texas Home Purchase

Thinking of Buying a Texas 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

Texas renovation home loans

Looking to Rehab a Texas 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

Texas FHA Home Loans

Great for 1st Time Texas 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

Texas VA Home Loans

100% Financing for Texas 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

Texas Conventional Home Loans

Flexibility for Texas 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

Texas Jumbo Home Loans

Texas 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

Texas USDA Home Loans

100% Rural Texas 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

Texas Native American Home Loans

Texas 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

Texas Manufactured Home Loans

Great Alternative Texas Housing

Texas reverse mortgages

Your Texas 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

Texas Non QM Home Loans

Making Texas 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

Texas One Time Close mortgages

Build Your Texas 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

Texas Refinance Mortgage Loans

Texas 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

Texas Cash-out Home mortgages

Texas 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

Abilene Texas Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Jordan Mowrey

SR Loan Officer
NMLS 210325

Abilene Mortgage Company Reviews

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