Home Purchase Loans In Laredo

Are you interested in purchasing a home in Laredo? Capital Home Mortgage Laredo can help extend you a mortgage for your home loan needs. As a direct mortgage lender, we provide a variety of mortgage packages to residents of Laredo.

Each type of mortgage loan has its rewards and peculiarities. Our mortgage experts at Capital Home Mortgage Laredo are pleased to assist you in any way they can, but let’s conduct a fast walkthrough to get you started.

Types of Home Loans

– Conventional-Conforming

Any mortgage loan not federally insured or guaranteed is referred to as a conventional loan (such as under the Federal Housing Administration, Department of Veterans Affairs, or Department of Agriculture loan programs). Conforming or non-conforming loans are both considered conventional loans.

• Conforming – Loan amounts for conforming loans are limited by government regulations. In addition, the organizations that back conforming loans, Fannie Mae or Freddie Mac, set additional criteria. All loans that follow the guidelines set the government-sponsored enterprises are called “conforming loans.”

• Non-Conforming – A nonconforming mortgage does not adhere to the rules of government-sponsored enterprises (GSEs), such as Freddie Mac and Fannie Mae, and cannot thus be sold to them. The GSE rules include, among other things, a maximum loan amount, appropriate properties, down payment requirements, and credit requirements.

– FHA

A government-backed mortgage that the Federal Housing Administration insures is known as an FHA loan. The FHA  insures the loan against future default by the borrower, eliminating the lender’s loss. In doing so, lenders can aggressively offer FHA-insured loans with lenient eligibility requirements.

– VA

A VA loan is a government-backed mortgage that supports the purchase, refinancing, and home improvements of eligible Veterans, service members, surviving spouses, and other individuals. Instead of the Department of Veterans Affairs, private lenders such as banks and mortgage firms offer VA loans. All VA home loans come with a no-money-down requirement.

– USDA

A USDA home loan is a mortgage with no down payment for qualifying rural borrowers. The United States Department of Agriculture issues USDA loans through the USDA loan program, often known as the USDA Rural Development Guaranteed Housing Loan Program. Direct and Guaranteed are the two types of USDA home loans available.

– Jumbo

A jumbo loan, also called a jumbo mortgage, is financing that exceeds the Federal Housing Finance Agency’s lending limits (FHFA). Unlike regular mortgages, jumbo loans cannot be acquired, insured, or securitized by Fannie Mae or Freddie Mac. Designed to fund luxury buildings and homes in highly competitive local real estate markets, jumbo mortgages have specific underwriting criteria and tax consequences.

Apply for a Home Purchase Loan in Laredo

Now is the time to enlist Capital Home Mortgage’s assistance in ensuring a simple home purchase for you. For more information regarding your Laredo home purchase financing, contact one of our Loan Officers at (956) 307-3422.