Killeen Non Qualified Mortgage Lender
Killeen Non-Qualified Mortgage
With government policies influencing mortgages, not all Americans can fit into the basic requirements imposed in most lending institutions. The complexity involved in the application process may render some applicants ineligible or rejected. If all other options have been exhausted, get a non-QM loan.
At Capital Home Mortgage, we help our clients get the best mortgage loan for their needs. Before we jump into non-QM loans, our loan officers will try to find alternative products that might match your current financial situation. If we think you’re not fit for qualified loan programs, we’ll consider non-QM loans to help.
What is a Non-QM?
A non-qualified mortgage is a loan that doesn’t conform to the standard requirements of a qualified loan. The Feds set minimum borrower requirements to regulate mortgage agreements in the US, and lending institutions increase minimum requirements to reduce lending risk. But since some borrowers don’t meet standard requirements, lending institutions like Capital Home Mortgage offer alternative mortgage programs to make financing more accessible to Americans.
Qualification Requirements of Non-QM Loans
Requirements for a non-QM loan are the same as standard requirements. All Non-QM loans are subject to investor guidelines. In qualified mortgages, lenders are bound to follow Federal requirements, but Non-Qualified Mortgages may use alternative documentation methods.
Employment and Sources of Income
Some borrowers are still recovering from financial downfall, and a non-QM loan may help improve their credit score.
Credit History and Score
There is no fixed credit score for Non-QM loans. Even if we follow the standard 580, most investors will require a higher credit score to qualify for Non-QM loans. Your credit score will dictate your application and interest rates. A lower score is risky, and lenders would reject it or put in a high-interest rate.
Debt-to-income Ratio
Your debt-to-income ratio must be below 40% to increase your chances of approval. We don’t have a fixed DTI ratio cut-off, but we weigh in on the different factors of your application. To make your application more appealing, we recommend paying off short-term debts to reduce the DTI or delaying your application until you settle a previous loan.
Apply for a Non-QM in Killeen
Capital Home Mortgage offers Killeen non-QM loans to help some borrowers access financing. Our direct mortgage lending process enables us to process your application and help you find the best mortgage product. Call our professional loan officers in Killeen at (254) 213-7343 for more information.
Why KIlleen HomeBuyers are Choosing Capital Home Mortgage
Close On Time
Complete Control from Application to Funding
Low Rates & Low Fees
Direct Lender with Competitive Rates & Low Fees
Exceptional Service
7 Day a Week Support Application to Final Mortgage Payment
Killeen 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
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
The One Time Close Manufactured Home Loan offer options to purchase your dream home on your own land. Call today to speak to a Loan Officer.
- Purchase the Home and Land Together
- Include the Utilities and Home Setup
- Lock Rate at Contract
- Variety of Loan Programs to Choose From.
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