Austin Conventional Mortgage Lender
Options For Austin Home Buyers
It might surprise you that several financing choices are available if you have never bought a property. When purchasing a new home in Austin, Texas, you have various home loan options, each with advantages and disadvantages. Do a thorough analysis of your financing alternatives as a prospective home buyer. Determining early on which mortgage best suits your needs will make it simpler for you to find the ideal property because the home loan application process can be lengthy. Mortgage Loan Options In Texas For Home Buyers You must locate the best mortgage to finance the purchase before starting your search for a new property. The following are some of the preferred choices for Texas homebuyers: – Conventional Loans Mortgages that are not federally guaranteed are referred to as conventional loans. They are divided into conforming and non-conforming categories.     a) Conforming loans –Â
As the name implies, adhere to the credit, debt, and loan size guidelines the Federal Housing Finance Agency (FHFA) set forth.     b) Non-conforming loans –Â
On the other hand, do not follow FHFA guidelines. They can exceed the maximum loan size allowed for a given sector, or they might be made available to borrowers with less-than-perfect credit or those who have suffered significant financial setbacks like bankruptcy. A conventional mortgage is often the best choice for purchasers with excellent credit who can afford a sizeable down payment.– Jumbo LoansÂ
One category of non-conforming loans is jumbo loans. They are well-titled because these mortgages are utilized to pay for more expensive properties than those allowed by the FHFA. Homes cost more on average in places like Los Angeles, San Francisco, New York City, and Hawaii, where jumbo loans are popular. If you need to borrow money that exceeds the most recent conforming loan limits, a jumbo loan can be your best option. But keep in mind that the requirements for these loans are often stricter and require more thorough paperwork. Jumbo loans demand better FICO scores, larger down payments, and lower DTI ratios than most traditional loans.– Federally Insured & Guaranteed Mortgages
Although the US government does not provide money for mortgages, it offers several options for more people to own homes.      a) FHA Loans
These government-insured mortgages are designed to make homeownership accessible to those who lack the substantial down payment or excellent credit needed for most conventional loans. For borrowers with a FICO score of at least 580, FHA loans offer a maximum financing rate of 96.5 percent with a 3.5 percent down payment. Although there are some limits, those with credit scores between 500 and 579 may still be eligible for an FHA loan with a 10% down payment.     b) USDA Loans
Borrowers with low-to-moderate income may use USDA-guaranteed home loans to buy a home in a rural location. You must purchase a home in a USDA-qualified area and satisfy specific income standards to be eligible. A USDA-guaranteed home loan is available to qualified borrowers with no down payment.      c) VA Loans
FHA and USDA-Guaranteed home loans are ideal options for those who cannot obtain a conventional loan due to a poor credit score or a lack of down payment resources. Because of its excellent mortgage terms, VA loans are only available to military personnel, veterans, and spouses. The VA home loan program offers eligible servicemen and women 100% financing. If you’re looking to buy a fixer-upper, you might want to look into the FHA 203k loan or other Texas home improvement financing options.One-Step Closer To Your Dream House
Even though these choices might seem difficult initially, you don’t have to sort them out alone. Your Capital Home Mortgage loan expert would be happy to discuss the differences with you in-depth and give recommendations for solutions that make the most sense for you. You can rely on our home loan specialists to assist you in finding a mortgage that satisfies your needs in terms of money and lifestyle. Whether you are a first-time buyer or a seasoned homeowner, we have options that suit you. Are you looking to purchase a brand-new house in Austin? Prequalify right away with Capital Home Mortgage! Call us at (512) 237-7400 to get started on your path to homeownership.Why Austin HomeBuyers are Choosing Capital Home Mortgage
Close On Time
Control of the Loan from Application to Funding
Great Rates & Low Fees
Direct Lender Providing Competitive Rates and Low Fees
Exceptional Customer Service
7Â Day a Week Support 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 Conventional Purchase Loans
Conventional Purchase Loans are one of the most popular types of loans and a great choice for many home buyers. Conventional mortgages can be used to purchase any type of occupancy, while FHA, USDA, VA and Native American Loans are restricted to primary residence only. Conventional mortgages are great for borrowers that have higher credit scores and typically have easier qualifying. Â
- Freddie Mac or Fannie Mae Insured
- Primary, 2nd or Investment Homes
- Single and Multi Family
- Condo’s and Manufactured Homes
- Mortgage Insurance Options
- Lower Rates & Fleixble Terms
- Maximum Loan Amount – $715,000
- High Balance (Varies By County)
Austin Conventional Refinance Loans
Conventional Refinance Loans are used for more refinances than any other type of mortgage loan.  This is due to Conventional loans allowing for all occupancy and property types and typically don’t require any mortgage insurance due to loan to value requirements. Conventional mortgages due require higher credit scores but offer better rates. Â
- Freddie Mac or Fannie Mae Insured
- Primary, 2nd or Investment Homes
- Single and Multi Family
- Condo’s and Manufactured Homes
- Mortgage Insurance Options
- Lower Rates & Fleixble Terms
- Maximum Loan Amount – $715,000
- High Balance (Varies By County)
Austin Conventional Renovation Loans
Want a new home? Don’t want to purchase a home from a builder? Prefer the charm of an older home, or the elegance of a mature neighborhood… Or just want the perfect location close to town. Making your dream home come true might just be updating that older home.
- 95% LTV Primary Residence
- 97% LTV 1st Time Buyer Single Family
- 85% LTV on 1 Unit Investment
- 90% LTV on Second Home
- Minimum Credit Score 620
- Luxury Renovations are Eligible
- Maximum Loan Amount – $715,000
- High Balance (Varies By County)
Texas Mortgage Programs
Texas Home Purchase
Thinking of Buying a Texas Home?
Looking to Purchase a Home? We have the loan 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 FeesÂ
- 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
Manufactured Home Loans offer options to purchase an existing residence or build your dream home on your own land. Call today to speak to a Loan Officer.
- Existing Purchase or Refinance
- OTC Land/ Home Combo
- Lock Rate Before Completion
- FHA, VA, USDA, & Native Loans
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
