Capital Home Mortgage Lubbock

Lubbock USDA Home Loans

Home Purchase
Save Today
Have Questions?

Lubbock USDA Mortgage Lender

USDA Loans In Lubbock & Surrounding Areas

Homebuyers in rural areas can qualify for a USDA mortgage with no down payment required. The United States Department of Agriculture administers a loan program known as the USDA Rural Development Guaranteed Housing Loan Program, through which it grants USDA loans. Another name for this program is the USDA Loan Program.

How Does The USDA Loan Program Work?

There are two types of USDA Home Loan Programs, Direct and Guaranteed.

  • USDA Direct Home Loan

These mortgages are issued by the USDA and are intended for borrowers with low or extremely low incomes. Different regions have separate minimum required income requirements.

This program is known as Section 502 Direct Loan Program. It helps low- and very-low-income applicants get adequate, safe, sanitary housing in qualifying regions. Payment assistance is a subsidy that temporarily lowers mortgage payments.  The amount of assistance is determined by the adjusted household income.

           – USDA Direct Eligibility Requirements

Several criteria are considered when deciding who gets approved for a Single Family Direct Home Loan. Direct loan applicants must meet some minimal requirements to be eligible, the most basic of which is having an adjusted income at or below the statutory low-income level for the area where they seek to buy a house.

All applicants must meet the following requirements to be eligible for a USDA Direct Home Loan:

  1. Not being able to secure a loan from other sources on terms and conditions that can be expected to be satisfied;
  2. Have no access to housing that is adequate, safe, and sanitary;
  3. Must not be excluded from or prohibited from federally funded programs;
  4. Must be a US Citizen or a qualified resident alien;
  5. Be able to take on a loan obligation legally;
  6. Must occupy the property as a primary residence;
  7. Must not be an income-generating property;
  8. Property must be no more than 2000 square feet;

As the name “Direct” implies, eligible home buyers that meet all the requirements must apply directly to the USDA regional office in their respective areas.

  • USDA Guaranteed Home Loan

USDA Section 502 Guaranteed Loans are only available at a fixed rate of 30 years.

The program reduces the risk of offering 100% loans to eligible rural homebuyers by providing approved lenders with a 90% loan note guarantee. This allows approved lenders to extend 100% loans to eligible rural homebuyers with no money down required.

Prospective home buyers must meet the following requirements to be eligible for the USDA Guaranteed Home Loan Program:

  • Their household income must not exceed 115% of the area median income (AMI);
  • Must occupy the property as a primary residence;
  • Must be a US Citizen or a qualified resident alien.

Apply for USDA Guaranteed Home Loan

Capital Home Mortgage is a USDA-approved lender in Texas that manages the loan application process. Contact one of our USDA home loan consultants at (806) 589-3428 or apply online to initiate your USDA-guaranteed home loan.

Why Lubbock is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great Lubbock Rates

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

Lubbock Customer Service

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

Lubbock USDA 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

Benefits of a Lubbock USDA Loan

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.

  • Guaranteed by US Depart of Agriculture
  • Rural Properties Only
  • 100% Financing
  • No Restrictions on Seller Concessions
  • Low Monthly Mortgage Insurance
  • Acreage Up to 30% of Total Value
  • FHA/USDA Certified Appraisers only
  • Guarantee Fee May be Rolled In
  • New Manufactured Home Only
Home Purchase
Save Today
Have Questions?
USDA Home Home Lender

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.

  • Guaranteed by US Depart of Agriculture
  • Rural Properties Only
  • 100% Financing
  • No Restrictions on Seller Concessions
  • Low Monthly Mortgage Insurance
  • Acreage Up to 30% of Total Value
  • FHA/USDA Certified Appraisers only
  • Guarantee Fee May be Rolled In
  • New Manufactured Home Only

Not Sure? Take a Look at Other Lubbock Mortgage Programs

Lubbock Mortgage Team

Conor Hayhurst

Managing Director
NMLS 743506

Damon Embler

Sr Loan Officer
NMLS 882260

Chris Erwin

Loan Officer
NMLS 914064

Dale Gremillion

Manager
NMLS 210325

Lubbock Mortgage Company Reviews

Texas Cities

Houston Home Loans

San Antonio Home Loans

Dallas Home Loans

Austin Home Loans

Fort Worth Home Loans

El Paso Home Loans

Corpus Christi Home Loans

Laredo Home Loans

Lubbock Home Loans

Amarillo Home Loans

Brownsville Home Loans

Killeen Home Loans

Midland Home Loans

Waco Home Loans

Odessa Home Loans

Abilene Home Loans

College Station Home Loans

Beaumont Home Loans

Wichita Falls Home Loans

San Angelo Home Loans

San Marcos Home Loans

Galveston Home Loans

Tyler Home Loans

McAllen Home Loans

Stephenville Home Loans

Texarkana Home Loans

Round Rock Home Loans