Capital Home Mortgage Dallas

Dallas USDA Home Loans

Dallas USDA Mortgage Lender

Dallas USDA Home Loans

USDA home loans are a great way to enter the housing market if you want to live in smaller cities or rural areas. They come with lower down payment requirements and are backed by the government through the U.S Department of Agriculture (USDA). 

If you’re ready to buy a home in any rural county across Dallas, Capital Home Mortgage can help you secure a USDA home loan. We’re direct mortgage lenders with several decades of combined industry experience when it comes to different types of home loans in Dallas and the surrounding areas. Speak with our loan officers today about your Dallas USDA home loan. 

Recognizing that the USDA offers two distinct types of loans is essential. The direct loan, where the USDA underwrites and provides the funding, and the guaranteed loan, which protects lenders against loss in the case of a foreclosure, are designated for buyers with meager incomes. Simply put, the USDA insures a percentage of the loan, usually related to the down payment. This guarantee enables a 100 percent mortgage loan, making homeownership more accessible in rural America.

Requirements of USDA Guaranteed Home Loan

You can get a USDA loan if you’ve got the credit, but be aware that these loans come with stricter requirements than other types of financing due to their 100% loan nature. You’ll need a higher credit score, at least 640, to qualify. Additionally, USDA loans have stringent requirements for income and area median incomes or AMI levels, which you can find challenging if you live outside these boundaries.

To qualify for a USDA loan, you must be a U.S. citizen or permanent resident, non-citizen national, or qualified alien who agrees to make the property you intend to purchase your primary residence. You must also have a household income that does not exceed 115% of the Area Median Income (AMI) and have a steady employment history.

A borrower should not only meet the above-mentioned essential requirements but must also be able to provide documentation proving their inability to get a conventional loan without mortgage insurance. Additionally, being suspended or debarred from joining federal programs results in disqualification from a USDA loan.

While it’s possible to purchase a property in any area, the United States Department of Agriculture requires borrowers to buy one from its designated areas for rural homes. These properties must exceptionally be single-family dwelling units that meet the requirements of the U.S. Housing and Development standards.

Limitations of a USDA Loan

The USDA loan is an excellent option if you want to buy a property and have decent credit. However, there are some limitations of the USDA Guaranteed Home Loan.

First, these mortgage offers only come at a 30-year fixed rate, which may be too long for some homebuyers and complicated compared to other loans available today that offer lower rates. Second, you can finance 100% of the property’s appraised value. The appraised value must justify the purchase price.

Moreover, there are limitations as to the use of your loan proceeds. You’ll need more than just good credit because the proceeds from your new home may only be used towards the following:

  • purchase of essential household equipment and new or existing house as a permanent residence
  • refinancing
  • repairs for existing dwelling
  • site preparation costs for construction

Get a USDA Home Loan in Dallas

Are you looking for a great mortgage option and wishing to live in a rural area or small city? The USDA loan is perfect for you! Let us work with you to secure the home financing for your needs. 

For more information about our Dallas home loans, please don’t hesitate to call us at (214) 372-0015.

Why Dallas 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

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

Dallas 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

Dallas USDA Mortgage 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.

  • Guaranteed by US Depart of Agriculture
  • Rural Properties Only
  • 100% Financing
  • No Restrictions on Seller Concessions
  • Low Monthly Mortgage Insurance
  • Acreage Up to 30% of Total Value
  • FHA/USDA Certified Appraisers only
  • Guarantee Fee May be Rolled In
  • New Manufactured Home Only
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

Dallas Texas Mortgage Team

Dale Gremillion

Manager / Sr Loan Officer
NMLS 210325

Conor Hayhurst

Manager / Sr Loan Officer
NMLS 743506

Brad Rund

Director Native American Lending
Director Manufactured Housing

Dallas Mortgage Company Reviews

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