Home Purchase Loans In Fort Worth

Obtaining finance for your Fort Worth home won’t be difficult if you know how to apply and qualify. Getting a mortgage can seem overwhelming only if you are not prepared and do your preliminary research.

It’s critical to be financially secure before applying for a mortgage because lenders use your income, assets, and credit score to determine whether you qualify for a mortgage.

You must put money aside for your down payment, closing costs, and prepaid items before you apply for a mortgage. Additionally, you must have some reserves. Reserve is what is left in your bank account, retirement account, etc., after exhausting your funds to purchase the home. 

A well-prepared home buyer will have all the necessary documents the lender will need for financing the loan. The basic documentation required for a home loan are (a) driver’s license, (b) social security card, (c) recent paycheck stubs, (d) recent bank statements, (e) retirement account statements, and (f) previous two years’ W-2. It is highly recommended that borrowers know where they stand credit-wise before applying for a mortgage. The higher your credit score, the more favorable terms you will get on the loan.

First-Time Homebuyer Benefits

A first-time homebuyer is defined in the mortgage industry as any person who has not owned or had interest ownership of any property in the last three years. There are several benefits of being a first-time homebuyer. Grants, down payment assistance, and tax credits are a few to mention.

A significant benefit of buying your first home is the first-time home buyer credit, besides finally finding and living in your dream house. This tax credit is a component of a government initiative that enables you to obtain reimbursements for closing costs and other expenditures.

How To Apply For A Fort Worth Home Loan & Get Pre-Approved

Getting pre-approved with several lenders before you formally apply for a mortgage will enable you to assess your financial situation, compare mortgage rates, and persuade sellers to work with you.

Even though getting pre-approved might not seem like a huge deal, a pre-approval letter can significantly help when you speak with sellers about their properties because it demonstrates that you are a serious, qualified buyer.

Pre-approval does not, however, guarantee that you will receive the loan. Several things must be satisfied, such as a clean appraisal report, survey, etc.

Get Pre-qualified and Pre-Approved With Capital Home Mortgage

Speak with one of our home loan specialists at (817) 779-7133 to get started on your path to homeownership. Capital Home Mortgage wants to ensure every client has a beautiful mortgage experience with minimal hassles and low fees. 

Capital Home Mortgage is a full-service Home Mortgage Company offering a full line of mortgage products, including FHA Home Loans, VA Home Loans, Conventional Home Loans, USDA Home Loans, Jumbo Home Loans, HUD Native American Home Loans and Reverse Mortgages.  Thank you again for your interest in Capital Home Mortgage, your full-service mortgage company. We look forward to providing your home financing.