Capital Home Mortgage Fort Worth

Fort Worth Jumbo Home Loans

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Fort Worth Jumbo Mortgage Lender

Jumbo Loans In Fort Worth

What Is A Jumbo Mortgage?

Jumbo loans are mortgages used to fund the purchase of properties higher than the conforming loan limit. Across all states, jumbo loan borrowing requirements are much more stringent than traditional mortgages.

The conforming loan ceiling for all counties in Texas for 2022 is $647,200. Any mortgage loan that exceeds that amount is classified as a jumbo loan.

How Do You Qualify For A Jumbo Loan?

Jumbo loans are not the same as conventional mortgages. These loans have stricter restrictions, and you’ll need to meet specific requirements for property type, down payment, credit score, and debt-to-income ratio.

  • Credit

The credit score for a jumbo mortgage will vary depending on the lender and loan parameters. The minimum credit score requirement for a jumbo loan is a 680 score. Most lenders require a FICO score of 700 and above to qualify for a jumbo loan, depending on the property type and what you want to do in your mortgage transaction.

  • Income

The maximum back-end debt-to-income (DTI) ratio on jumbo loans is 43%. Your debt-to-income ratio (DTI) compares the amount of money you earn to what you owe. To determine your DTI ratio, divide your total monthly debt obligations by your pretax income.

A low DTI ratio is crucial for obtaining a jumbo loan since it demonstrates to lenders that you have the sufficient cash flow to fulfill your mortgage payments. You may qualify for a jumbo loan with a higher DTI ratio if you have a larger down payment or a higher credit score.

  • Assets

Jumbo loans typically require a 10 – 20% down payment for single-family homes. Lenders ask for a 20% down payment on jumbo loans for single-family homes. Second homes and multi-family properties may require a larger down payment. The loan amount and credit score are based on these factors.

Besides the down payment, jumbo loan borrowers must have 6 – 12 months of reserves. Depending upon their circumstances, lenders may require 12 – 24 months in reserve for borrowers with low FICO scores.

Apply for a Jumbo Loan with Capital Home Mortgage

Contact the specialists at Capital Home Mortgage at (817) 779-7133 if you’re considering purchasing a high-priced house in Fort Worth. Our jumbo loan experts can review the process with you and help you determine if a jumbo loan is the best option for you.

Why Fort Worth is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great Fort Worth Rates

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

Fort Worth Customer Service

7  Day a Week Support from Application to Final Mortgage Payment. 

Fort Worth Jumbo 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

Quick Facts for Fort Worth Jumbo Home Loans

  • Up to 3 Million Loan Amounts
  • Up to 90% Loan to Value
  • Traditional and Non QM Programs
  • Subject to Investor Requirements
Jumbo Home Lender Benefits
  • Up to 3 Million Loan Amounts
  • Up to 90% Loan to Value
  • Traditional and Non QM Programs
  • Subject to Investor Requirements
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Fort Worth Mortgage Team

Conor Hayhurst

Managing Director
NMLS 743506

Damon Embler

Sr Loan Officer
NMLS 882260

Chris Erwin

Loan Officer
NMLS 914064

Dale Gremillion

NMLS 210325

Fort Worth Mortgage Company Reviews

What is a Fort Worth Jumbo Mortgage Loan?

Jumbo home loans, also called a non-conforming home loans, are home loan that exceeds the county lending limits of the GSE’s Fannie Mae and Freddie Mac.  Jumbo loans are backed by private investors and have different underwriting requirements from traditional Conventional and government home loans.   These guidelines are typically more restrictive, but do make it possible for larger home purchases to be financed. 

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