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Home Loans In Austin, Texas

Are you looking to buy a home in Austin? With prices ticking down and rates still low, now would be a good time to start shopping for a new house. 

Homeownership has many life-enhancing benefits – building equity, annual income tax deductions, and – of course – having a home of your own. But since it’s such a huge investment that can significantly impact your financial future, you need to think the decision through and weigh all your mortgage options carefully – especially if it’s your first time purchasing a home. 

Tips For First-Time Homebuyers In Austin 

Buying your first home is such an exciting time in your life. However, the sheer number of choices you will face can be disorienting.

With complete information available on the internet about buying a property, you could easily spend an entire day researching and still think, “Where do I even begin?”

Real properties are always a worthwhile investment, but you must ensure that purchasing a new home does not jeopardize your future financial goals.

These tips will help you start your homeownership journey on the right foot:

  • Know What You Can Afford

Before you become emotionally attached to a lovely home, examine your budget first and then decide the maximum amount you can afford to pay for a property. Ensure that your monthly housing costs (including HOA dues, taxes, and insurance) do not exceed 36% of your monthly gross earnings.

To determine the best fit for your budget, you can use our mortgage calculator to experiment with different mortgage amounts, interest rates, and down payments.

  • Secure The Down Payment

If purchasing the property in cash is impossible, save for a down payment of at least 10%–20% or more. A 20% down payment eliminates the need to pay private mortgage insurance (PMI), which protects the mortgage company if you default on your payments and face foreclosure. PMI typically costs 1% of the whole loan amount, and you will be charged that 1% annually, resulting in a significant increase to your monthly mortgage payment.

If you’re in dire need of purchasing a home but don’t have enough money saved up for the upfront costs, you may want to check if you qualify for a down payment assistance program or government-backed loans like the VA loan or FHA loan.

FHA loans require a 3.5% down payment, whereas a conventional loan requires a 5% down. VA and USDA loans are the only home loan programs that don’t need a down payment.

  • Save For The Closing Costs

You’ll also need to pay closing costs and down payment. Closing expenses typically range between 3 and 4 percent of the purchase price of your home. Your lender will provide you with a specific amount to know how much to bring on closing day. 

The closing costs cover fees that are critical to the home-buying process, including the following: 

  1. Origination Fee
  2. Appraisal Report Fee
  3. Credit Report
  4. Attorney Fees
  5. Document Preparation Fee
  6. Property Survey
  7. Transfer and Recording Fees
  • Get Pre-Approved For A Home Loan

Once you’ve saved enough money to cover closing costs and a new home’s down payment, you can start getting quotes and talking to mortgage lenders.

We recommend prequalifying for a loan and obtaining a preapproval letter before beginning your house search. A preapproval letter demonstrates to sellers that you are a serious buyer, which is an excellent strategy for first-time homebuyers in a competitive market.

To get pre-approved, you will need to furnish the required financial documents (income documentation, tax returns, etc.) for verification by your lender and submit your loan for preliminary underwriting.

Austin, TX Mortgage Lender

Austin mortgage lenders are bountiful and offer a wide range of home loan programs. Capital Home Mortgage is a full-service mortgage lender offering a competitive rate with meager fees. We are a full-service mortgage lender offering products from FHA loans, VA loans, USDA home loans, Conventional-conforming loans, Jumbo loans, and Non-Qualified mortgage loans.

We strive hard to provide excellent service and a straightforward approach to ensure a seamless home-buying experience. Whether you are a first-time home buyer looking for your dream home to raise a family or a seasoned buyer, we have a home loan program that fits your needs and budget.

Ready To Get Started?

If you’re considering purchasing a home in Austin, TX, or refinancing your current mortgage, we’re ready to go to work for you!

Capital Home Mortgage is a full-service Texas mortgage company that offers a comprehensive array of home loan programs, competitive Texas mortgage rates, and low fees – all while providing superior customer service.

We can assist you in evaluating your loan options and selecting the most suitable one. Get in touch with one of our loan officers today at 512-237-7400.

Why Austin is Choosing Capital Home Mortgage...
Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great Austin Rates

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

Austin Customer Service

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

Austin 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

Austin Mortgage Loans

Austin Home Purchase

Buying an Austin Home?

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

Austin Renovation Home Loans

Austin Rehab Loans

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

Austin FHA Home Loans

1st Time Austin Homebuyers

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

Austin VA Home Loans

100% Loans for Austin Veterans

  • Simply Qualifying
  • No Down Payments 
  • Lower Credit Scores Allowed
  • Manual Underwriting Allowed

Austin Conventional Home Loans

Flexibility for Austin Buyers

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

Austin Jumbo Home Loans

Great Austin Rates

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

Austin USDA Home Loans

Austin Rural Properties

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

Austin Native American Loans

Austin HUD 184 Loans

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

Austin Manufactured Home Loans

Austin Mobile Homes

  • Purchase or Refinance
  • New Home Purchase
  • OTC Combo Land & Home
  • FHA, VA, USDA, & HUD 184

Austin Reverse Mortgages

Your Austin Home at Work!

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

Austin Mortgage Refinance

Austin Cash-Out or Rate and Term

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Austin Non Qualified Mortgage

Making Austin Mortgages Possible

  • Purchase, Refi & Cash-out
  • Primary, 2nd & Investment
  • Full Doc & Alt Doc Programs
  • Corporations OK

Austin Mortgage Team

Conor Hayhurst

NMLS 743506

Damon Embler

Sr Loan Officer
NMLS 882260

chris erwin

Sr Loan Officer
NMLS 914064

Dale Gremillion

NMLS 210325

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