Capital Home Mortgage College Station
College Station FHA home loans
College Station FHA Mortgage Lender
College Station FHA Loans
To help Americans acquire homes more efficiently, the U.S. government insures home loans from approved lenders through the Federal Housing Administration (FHA). These secured mortgages are FHA-insured mortgages.
FHA home loans are less strict in credit score and down payment requirements. You can only get them from FHA-approved lenders. Capital Home Mortgage is an FHA-approved mortgage lender that can help you secure an FHA loan to buy a home.
FHA Loan Requirements
Even though FHA loans are generally more liberal regarding eligibility requirements, lenders will still formally review your application.
One of the most important considerations in establishing eligibility for an FHA home loan is your credit score. Ideally, you should have a score of at least 580 and be able to raise a minimum down payment of 3.5%. A FICO score of between 500 and 579 may still qualify you for an FHA loan, provided you can afford a 10% down payment.
Aside from FICO scores, lenders will also look at your past two years of credit history, steady employment, and sources of income.
FHA Loan Programs
There are different kinds of FHA loans. Each type of loan has its purpose, and knowing them can help you make a better choice in getting your home mortgage.
203 (b) Loan
A traditional FHA loan is a go-to product if you want to purchase a new home for your family. This type of loan is available to borrowers with stable employment and income.
Are you in the market for a house in California but can’t afford a brand-new property? You can buy old homes at a lower price and renovate them. FHA 203(k) mortgages enable you to get a single loan for two purposes: buy a house and renovate it.
Also known as Home Equity Conversion Mortgage (HECM), it is reserved for seniors aged 62 and above. A reverse FHA mortgage can help provide additional cash flow by converting part of their home’s equity into cash. Reverse mortgages are a great option to enjoy the value of your home during retirement.
Energy Efficient Mortgage Program
Solar panels, insulation, and wind energy systems can help lower your monthly utility bill. By choosing the FHA Energy Efficient Mortgage Program, you can obtain financing to buy these energy-saving upgrades.
Section 184 Mortgage
The Section 184 Indian Home Loan Guarantee Program is a mortgage program specifically designed for American Indians, Alaska native families, or tribally designated housing entities. Congress established it in 1992 to facilitate homeownership and increase access to capital in Native American communities.
Section 245(a) Loan
Do you want a mortgage loan with payments proportional to your income over time? You can opt for an FHA 245(a) loan. It’s designed for borrowers who expect to see an increase throughout the loan. Monthly payments start low and gradually increase over time.
Apply For An FHA Loan In College Station
Can’t decide which FHA home loan program best suits your needs? Our mortgage experts at Capital Home Mortgage can help you understand the intricacies of mortgage loans in California.
Moreover, as direct mortgage lenders, we handle every aspect of the process, including funding the loan amount. This allows us to offer competitive interest rates and a quicker, more efficient application process.
Call us at (979) 393-0049 to speak with our loan officers about your next FHA home loan in College Station.
Why College Station HomeBuyers are Choosing Capital Home Mortgage
Close On Time
Complete Control from Application to Funding
Low Rates & Low Fees
Direct Lender with Competitive Rates and Low Fees
7 Day a Week Support Application to Final Mortgage Payment
College Station 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
College Station FHA Home Purchase Loans
- Simple Qualifying
- Smaller Down Payment
- Seller Paid Closing Costs
- Flexible Underwriting
- Higher Debt to Income Ratios Allowed
- Lower Credit Scores Allowed
- Manufactured Housing OK
College Station Refinance Home 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
College Station FHA Renovation Home 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 program 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 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