Capital Home Mortgage El Paso
El Paso Home Purchase Loans
El Paso Home Purchase Mortgage Lender
Home Purchase Loans In El Paso
Finding the best mortgage is essential in buying your first home, and there are many things to consider. Even though seemingly endless financing alternatives are available to first-time homebuyers, taking the time to learn the fundamentals of real estate financing can help you save a lot of time and money.
You might benefit financially if you understand the local market where the property is situated. You may ensure that you receive the mortgage that meets your demands. First-time homeowners need to know some crucial information. Capital Home Mortgage is here to assist you in every step.
Home Loans In El Paso
The most likely candidates for conventional mortgages are homebuyers with established credit histories in good standing and financially stable. To be eligible for a conventional-conforming loan, a borrower must have a minimum credit score of 620. The debt-to-income ratio of a conventional loan must be no more than 45% and have a minimum of 5% down payment.
In El Paso, Texas, FHA loans offer a fantastic opportunity to purchase a home. The Federal Housing Administration (FHA) was established to give the typical American a chance to own a home. The low down payment option offered by FHA loans is one of the most popular. For consumers with credit scores of 580, FHA loans let you buy houses with 3.5% down.
A VA loan is a mortgage loan guaranteed by the Department of Veterans Affairs (VA). VA loans are originated by lenders who meet the requirements set by the Department of Veterans Affairs. It was created to provide long-term finance to qualified American veterans or their surviving spouses.
To encourage home ownership in rural areas, the United States Department of Agriculture sponsors a USDA loan program open to qualified homebuyers. USDA Loans, referred to as “RD Loans,” offer 100% financing possibilities on qualifying rural properties.
With a USDA loan, buyers can get better-than-average home mortgage rates while funding 100% of the cost of the home. Rates for USDA home loans are lower than those for other low-downpayment loans.
– Non-Qualified Mortgage
Non-Qualified Mortgage (Non-QM) loans are typically for borrowers with unique circumstances and those who don’t fit the typical “qualified-mortgage box.” Often these loans are for borrowers with non-traditional circumstances like fluctuating income, self-employed independent business owners, contractors, entrepreneurs, artists, etc.
Apply for a Home Purchase Loan in El Paso
Providing a comprehensive range of mortgage products, Capital Home Mortgage is a full-service home mortgage company that offers FHA, VA, Conventional, USDA, Jumbo, Native American Home Loans, and Reverse Mortgages, among others.
Our objective is to offer our clients exceptional mortgage rates, affordable costs, and a stress-free experience. This can be done by Capital Home Mortgage, which manages the entire mortgage procedure from application to funding. Quick, sensible approvals and on-time closings are made possible by our in-house loan processing and underwriting.
Call us at (915) 283-3949 to speak with our Home Loan Specialists.
Why El Paso is Choosing Capital Home Mortgage...
Close On Time with True Approval
Control of the Loan from the Application to Funding.
Great El Paso Rates / Low Fees
Direct Mortgage Lender Providing Competitive Rates and Low Fees.
El Paso Customer Service
7 Day a Week Support from Application to Final Mortgage Payment.
El Paso Mortgage Rates
Capital Home Mortgage El Paso is dedicated to offering Great El Paso Mortgage Rates.
Call now to speak with a Loan Officer or request a no obligation custom rate quote.
El Paso Fixed Rate Mortgage Loans
All Fixed Rate Mortgage Loans are designed to have equal payments for the specified term. These loans offer predictability and are deemed to be less risky for borrowers. Fixed Rate Mortgage Loans are available with all mortgage products and are typically offered in 15 year and 30 year terms. However, Fixed Rate Mortgage Loans are also offer in 10 year, 20 year and 25 year terms although less common due to demand.
El Paso Adjustable Rate Mortgage Loans
Adjustable Rate Mortgage Loans known as ARM s are also available with all mortgage products although are limited with FHA Home Mortgages, VA Home Mortgages and USDA Home Mortgages. ARM’s are great fit for home buyers who plan to sell or refinance their home between 1 and 10 years and are looking for the lowest possible payment. ARM’s are also a product the offers a lower rate during times where fixed rates are demanding higher rates. An adjustable rate mortgage begins as fixed rate for a specific period of time then adjusts the rate on a predetermined time period and a predetermined amount based on financial index and a fixed margin.