Home Loans In Amarillo, Texas

Welcome to Capital Home Mortgage Amarillo. First, we want to thank you for the opportunity to earn your mortgage business.  We understand that purchasing a home is the biggest decision in most people’s lives and why Capital Home Mortgage provides dedicated points of contact throughout the entire loan process. This ensures a stress-free, smooth experience, finishing with an on-time closing.

Have you been itching to move recently? Whether you’ve outgrown your current space or are simply looking for a change of scenery, now is an excellent time to buy a home in Amarillo, TX.

With interest rates remaining at near-record lows and the pandemic drawing to a close, many people are in the market for homes and investment properties.

Step By Step Guide to Buying A Home

Purchasing a home is complicated and involves numerous moving parts. This guide — combined with the expertise of your real estate agent and mortgage lender — can assist you in navigating the process smoothly.  

By conducting due diligence in advance, you’ll have higher confidence in your decision and look forward to receiving those coveted house keys on closing day.

Here’s a step-by-step guide to the homebuying process:

1. Understand Why You Want to Buy A House.

Purchasing a home is a significant investment, so you must ask yourself repeatedly why you’re doing it and if your reasons are justifiable.  

If you’re unsure why you’re buying a house, don’t. You might end up regretting your decision sooner or later.

2. Know Your Credit Score.

Checking your credit score will assist you in determining your financing options. Moreover, lenders use your credit score (among other things) to set the value of your loan and assess your ability to repay your mortgage. 

The better your credit history, the more likely you will be approved for financing with favorable terms and rates.

3. Set A Budget.

Establishing a realistic budget for your new home will give you a better idea of what you can afford and the total cost of ownership.

Bear in mind that the purchase price is not the only consideration. All other expenses like closing costs, mortgage insurance, and repair/maintenance costs are taken into account.

4. Save For The Down Payment.

To avoid paying private mortgage insurance, you must prepare a down payment of at least 20% of the home’s purchase price. 

Certain lenders offer mortgages without PMI that require lower down payments, but buyers should anticipate paying a higher interest rate.

5. Shop For Mortgages/Lenders.

Preapproval for a mortgage is beneficial when making an offer on the house, as it gives you a clearer sense of how much you can afford.

To increase your chances of obtaining a low-interest rate, shop around and get quotes from at least three lenders.

6. Work With A Real Estate Agent.

A knowledgeable real estate agent can save you time and money by assisting you in finding your dream home and negotiating with the seller on your behalf.

7. Make An Offer.

Once you’ve found the right property, your real estate agent will assist you in preparing the offer package. You may also include a personal letter to the seller to differentiate your offer and make it stand out.

8. Secure Your Financing.

The financing process can take between 21 and 30 days to complete, but delays can occur when buyers fail to respond to disclosures fast enough or cannot submit all required documents on time.

9. Close On Your Home.

Once all contingencies have been satisfied, and the closing agent has given the “clear to close,” it’s time to finalize the sale.

Once payment is made, and all necessary paperwork is signed, the home is officially yours, and you will receive your house keys. 

Congratulations! You may now begin settling into your new residence!

Amarillo, TX Mortgage Lender

Capital Home Mortgage is a full-service mortgage company offering a broad range of mortgage products, including FHA, VA, Conventional, USDA, Jumbo, and HUD 184 Native American home loans.

As a direct mortgage lender in Amarillo, TX, we manage the loan process from beginning to end. This means that we are in charge of every decision from application to funding. 

Capital Home Mortgage is dedicated to excellence in every aspect of our business. We provide our clients with lower costs and interest rates while still delivering an exceptional level of service tailored to our client’s individual needs and requirements.

We Make Home Loans Easy

You can trust our mortgage professionals to provide you with reliable, candid advice on all matters about mortgages and to simplify and expedite the entire process.

We’ve built a solid reputation for helping homeowners in Texas and are keen to put our expertise to work for you.