Home Loans In College Station, Texas

College Station is a city in Brazos County, 83 miles northwest of Houston. College Station and Bryan make up the Bryan-College Station metropolitan area, the 13th-largest metro area in Texas. 

The College Station housing market is competitive. The average price of a home is $251,000, with many homes getting multiple offers. The average homes sell for about 1% below the list price and go pending in around nine days.

Welcome to Capital Home Mortgage – College Station. Owning a home has long been associated with the American Dream. Unsurprisingly, most people strive to make this dream a reality.

Still, there’s no denying that while buying a home is an excellent investment, it is a huge decision that can have an enormous impact on your financial future. That said, it makes sense to learn as much as possible about the process and what it entails.

Where Do I Begin When Purchasing My First Home?

Prequalifying for a home loan before you begin house hunting is an excellent idea. Before starting your search, pre-qualification enables you to determine which properties are within your price range. 

To prequalify, you must provide your loan officer with certain financial information. After analyzing your data, your loan officer will give you an estimate of the mortgage amount you should be able to afford.

How Do I Know How Much I Can Afford?

Monthly mortgage payments typically include the principal, interest, real estate taxes, and homeowner’s insurance. It may also have HOA dues and private mortgage insurance (PMI) if you put less than 20% upfront.

However, how much you can afford will mostly rely on interest rates at the time of purchase and the amount of money you have available for a down payment.

Ideally, your monthly housing payments should be approximately 36% of your overall monthly income before taxes. Moreover, your overall debt (your existing debts plus mortgage payments) should be at most 45% of your household income before taxes.

Including additional expenses such as utilities, maintenance, and credit card bills is also recommended when developing a realistic figure of what you can afford.

Are There Any Advantages to Buying A Property For The First Time?

Beyond property ownership, there are other advantages of purchasing a home for first-time homebuyers. 

First-time homebuyers may be entitled to low-down-payment programs or other forms of assistance. They may also be qualified to participate in certain state and municipal governments Mortgage Credit Certificate Programs, allowing up to a $2,000 annual federal income tax credit.

What Factors Should I Consider Before Purchasing A Home?

There are a few things you should do before buying a home. It’s critical to evaluate your credit history, determine how much debt you have, and obtain all pertinent documentation for the mortgage application. Additionally, you must begin saving money for the down payment and closing costs as early as possible.

We also advise researching before meeting with a realtor or viewing any homes. This enables you to familiarize yourself with surrounding school districts, transportation routes, and other local resources and ensure that you are searching for a home in a location that fulfills all of your requirements.

Am I Receiving A Good Deal on My Mortgage?

Lenders provide a range of home financing choices and will work with you to determine the best option. While loan rates vary little between companies, loan terms, prepayment alternatives, and processing costs can vary from one lender to another. These differences in the loan structure and fees can result in significant savings.

Some mortgages are available, ranging from 15 to 30 years. Your monthly payment will vary according to the term. The shorter period, the less you pay for the property, but expect higher monthly payments. Your loan officer can assist you in determining your best terms and options.

College Station, TX Mortgage Lender

Capital Home Mortgage is a full-service mortgage company. We specialize in home purchase loans and refinancing in Texas and across the country. Whether you are interested in a conventional home loan or a government-backed mortgage such as the FHA or VA loan, we can help you realize your dream of homeownership.

Your Mortgage Made Easier

We know that acquiring a house is the most significant financial decision most people will make in their lifetime, which is why Capital Home Mortgage is committed to providing dedicated contact points throughout the financing process. This allows our clients a seamless home loan experience with minimal delays and on-time closing. After all, purchasing a home should be an exciting milestone, not stressful.

Contact Capital Home Mortgage today at 979-393-0049 to explore your mortgage loan alternatives and determine which lending program best fits your financial situation.

Thank you again for your interest in our services, and we look forward to providing you next College Station Mortgage Loan.