Capital Home Mortgage Lubbock
Lubbock Non Qualified Mortgages
Lubbock Non Qualified Mortgage Lender
Non-Qualified Mortgage In Lubbock
A non-qualified mortgage, also known as a Non-QM, is a loan that does not meet the qualifications of a qualified mortgage and relies on non-traditional means of income verification to enable a borrower to obtain a home mortgage. These loans are designed for borrowers who have atypical income eligibility circumstances.
Qualified vs. Non-Qualified Mortgage
Non-QM loans are mortgages that do not meet the Consumer Financial Protection Bureau’s (CFPB) standards for qualifying mortgages. A qualifying mortgage meets the CFPB’s “ability to repay” requirement, which requires lenders to analyze your financial condition and set loan terms that you are likely to be able to repay.
Benefits of Non-Qualified Mortgage
A non-qualified mortgage loan, often known as a “non-QM” loan, is beneficial for several reasons. People who are self-employed, run their own enterprises, or have non-traditional occupations are subject to fewer constraints regarding the documentation of their income compared to those traditional companies employ. In addition, the application process for a non-qualified mortgage is nearly the same for a conventional loan.
Borrowers who have problems qualifying for a conventional loan due to credit worries can bridge the gap with non-QM loans. Some examples are self-employed borrowers, borrowers with non-traditional income sources, and borrowers with unconventional revenue sources. Non-QM loans have underwriting standards that enable the lender to examine your “bigger picture” financial history. This allows the lender to evaluate a borrower’s potential to repay the loan based on a somewhat different set of criteria.
Suppose you cannot qualify for a conventional mortgage but have enough income to make payments on time and regularly. In that case, you may be eligible for a non-qualifying mortgage.
People in these unusual income scenarios may find Non-QM loans a practical option.
- Prime borrowers with high debt-to-income ratios;
- Borrowers with marginal credit but have sufficient income;
- Borrowers with substantial assets;
- Real estate investors;
- Foreign National buyers
Apply for a Non-Qualified Mortgage in Lubbock
If you are concerned about the security of non-qualified mortgages (non-QMs), it is crucial to understand that they are not the same as subprime mortgages. Because we are a direct lender, Capital Home Mortgage manages the entire process, from the application to the final closing. Simply call us at (806) 589-3428 and ask to speak with one of our Mortgage Professionals about the steps you need to do to qualify for a Non-Qualified mortgage.
Why Lubbock HomeBuyers are Choosing Capital Home Mortgage
Close On Time
Complete Control from Application to Funding
Low Rates & Low Fees
Direct Lender with Competitive Rates and Low Fees
7 Day a Week Support Application to Final Mortgage Payment
Lubbock 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
Manufactured Home Loans offer options to purchase an existing residence or build your dream home on your own land. Call today to speak to a Loan Officer.
- Existing Purchase or Refinance
- OTC Land/ Home Combo
- Lock Rate Before Completion
- FHA, VA, USDA, & Native Loans
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