Capital Home Mortgage Brownsville

Brownsville FHA home loans

Brownsville FHA Mortgage Lender

Brownsville FHA Home Loans

For many, one of the biggest hurdles to homeownership is having enough money for a substantial down payment. But if you only explore your options, you’ll realize it doesn’t have to be! With its lower credit score and more affordable down payment requirements, the FHA home loan can help turn homeownership dreams into a reality. 

What is an FHA Loan?

The FHA loan is a government-backed mortgage created and insured by the Federal Housing Administration. These loans are quite a hit with first-time homebuyers because they require lower minimum credit scores and down payments than many other types of mortgages. According to the FHA’s 2020 Annual Report, more than 83% of all FHA loans were awarded to borrowers buying their first homes.

Types of FHA Loans

The FHA has several home loan programs that cater to homebuyers’ varying needs and lifestyle requirements. If you qualify for a Brownsville FHA loan, you may choose among the following mortgage products to help you finance your new home purchase.
  • FHA 203(b) Loan – 

The FHA 203(b) loan is popular among first-time home buyers looking to purchase move-in-ready homes. This is an excellent option if you have your eyes set on or want to buy a home that doesn’t require significant renovations.
  • FHA 203(k) Loan – 

Many old homes have the potential to be a diamond in the rough with some TLC. You can use the FHA 203(k) loan to buy a fixer-upper home and finance the renovations that will make it more livable.
  • FHA Section 245(a) – 

Also called the Growing Equity Mortgage, this program is aimed at borrowers expecting their incomes to increase gradually in the next few years. The mortgage starts with lower initial monthly payments that increase over time, shortening loan durations. It’s perfect for homebuyers looking to improve their home equity rapidly. 
  • FHA EEMP – 

The FHA Energy Efficient Mortgage Program is similar to the FHA 203(k) Improvement Loan program. Still, it focuses on energy-efficient upgrades that lower your home’s energy consumption, such as new insulation or solar energy systems. The idea is that energy-efficient homes tend to spend less money on utility bills, so more of it can go towards mortgage payments. 

Brownsville FHA Loan Requirements

Despite its reputation as a first-time homebuyer loan, FHA loans are also available to eligible repeat homebuyers.  Designed to make homeownership easier for Americans, the FHA products have more lenient standards than most mortgages. However, interested borrowers must still meet minimum FHA loan requirements and basic lending guidelines to qualify.
  • Credit Score and Down Payment: 

You’ll need a credit score of at least 580 to qualify for the 3.5% down payment rate. Lower than that, you’ll need to pay 10% of the home’s purchase price upfront (sometimes more). 
  • Debt-to-Income (DTI) Ratio: 

Lenders typically require a maximum front-end DTI ratio of 31% (allocated to housing payments) and a back-end ratio (for debt payments) that’s no higher than 43% of the household’s gross monthly income.
  • Income and Employment: 

The FHA loan has no income limits, but you’ll have to provide proof of steady income and employment for the past two years.
  • Foreclosure and Bankruptcy: 

You’ll need to wait three years after losing a home to foreclosure and two years after you were released from a Chapter 7 bankruptcy before you can qualify for an FHA loan. These waiting periods are significantly shorter than that of traditional mortgages.
  • FHA Loan Limits: 

The FHA loan limit for Brownsville, Texas, is $420,680 for single-unit homes, $538,650 for two-unit homes, $651,050 for three-unit dwellings, and $809,150 for four-unit homes. 

Is An FHA Loan For You?

Regardless of your situation, you may want to consider an FHA loan when purchasing or refinancing a home. FHA loans have more lenient approval requirements, so you have higher chances of qualifying even with less-than-ideal credit. You can visit the local HUD office or contact Capital Home Mortgage if you need more information or assistance. We’ll help you determine whether the FHA loan is the best option for you and how you can use it to optimize your homebuying ability. Call (956) 307-3422 to start your FHA loan application.
Why Brownsville 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

7  Day a Week Support Application to Final Mortgage Payment

BROWNSVILLE 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

BROWNSVILLE FHA Home Purchase Loans

FHA Purchase Mortgage Lender
FHA Home Loans are mortgage loans for 1st time home buyers, buyers with limited credit, buyers with less than perfect credit and buyers with higher debt to income ratios.  As the goal of FHA is to make homeownership more attainable, FHA underwriting guidelines are less strict than other mortgage loan programs.  This FHA flexibility allows for easier loan qualification making the barrier to homeownership less challenging.
  • Simple Qualifying
  • Smaller Down Payment
  • Seller Paid Closing Costs
  • Flexible Underwriting
  • Higher Debt to Income Ratios Allowed
  • Lower Credit Scores Allowed
  • Manufactured Housing OK

Brownsville FHA Refinance Home Loans

FHA Refinance Mortgage Loans

FHA offers a streamline refinances that simply reduces the interest rate and lowers the payment or shortens the term of the loan.  This rate and term option can be fully documented loans, or can be reduced documentation. The other FHA option is a cash-out refinance allowing homeowners the ability to access the equity in the property.

FHA Standard Refinance

  • Appraisal Required
  • 97.75% Max Loan to Value
  • Closing Costs Can Be Rolled In
  • 80% Max Loan to for Cash-out
  • Cash-out Option Available
  • County Loan Limits Apply

FHA Streamline Refinance

  • FHA to FHA
  • No Income Qualification
  • No Appraisal Required
  • Closing Costs Cannot Be Rolled In
  • No Lates on Mortgage in Last Year
  • Payment Must Drop on Fixed Rates

Brownsville FHA Renovation Home Loans

FHA 203K Mortgage Loans

FHA offers both a Steamline and Full Rehabilitation Loans.  This is a great option for 1st time homebuyers looking to purchase a home that needs a little TLC.

  • Purchase & Refinance Options
  • Primary Residences Only
  • Single, Multi Family & Condo’s
  • As-Is Improved Renovated Value
  • 203K Streamline
  • Less < 35K, Cosmetic Repairs Only
  • 203K Full Rehab
  • Greater > 35K, No Restrictions
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?

What 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

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

Brownsville Mortgage Team

Conor Hayhurst

Manager
NMLS 743506

Damon Embler

Sr Loan Officer
NMLS 882260

chris erwin

Sr Loan Officer
NMLS 914064

Dale Gremillion

Manager
NMLS 210325

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