Capital Home Mortgage Midland

Midland Jumbo Home Loans

Midland Jumbo Mortgage Lender

Midland Jumbo Home Loans

You’ll quickly discover that you’ll need a jumbo loan to get the financing you require if you live in an area with few options for affordable housing or are looking to buy a higher-end home.

Getting a mortgage loan is already hard enough. What more if you need a jumbo loan? Still, it’s not impossible. Let’s break down a jumbo loan, the criteria banks and other lending institutions look for, and how you can secure one.

How Does a Jumbo Loan Work? 

Do jumbo loans function similarly to conventional loans? Yes, but only to a certain extent. Jumbo loans exceed conventional conforming loan limits, which means they cannot be purchased or guaranteed by Fannie Mae and Freddie Mac, leaving the lender vulnerable to losses if the borrower defaults. Because of their high-risk level, jumbo loans typically have stricter financial and qualification requirements than all other mortgage loan options.

Take the following factors into account before you apply for a jumbo loan

  • Property types

As long as you satisfy the terms set by your lender, you can use a jumbo loan to finance any real estate transaction, whether a primary residence, a vacation home, or an investment property.

  • Down payment

You’ll typically need a higher down payment for a jumbo loan. Lenders usually require a 20% down payment, but some lenders may allow a lower down payment depending on the type of property you want to purchase, your loan amount, and your credit score. 

  • Credit score

Your three-digit FICO credit score, which ranges from 300 to 850, is a measure of how well you handle debt repayment. You usually need a credit score of at least 620 to get a conventional loan. However, if you want a jumbo mortgage, your lender will probably want a credit score of at least 700.

  • Debt-to-income ratio (DTI)

The DTI measures how much your monthly take-home pay goes toward paying off debt. You can figure out your own DTI by dividing your monthly gross income by any minimum payments you have to make. You’ll want to keep your DTI below 43% to increase your chances of qualifying for a jumbo loan.

Benefits of Jumbo Loans

You may wonder, “Why should I get a jumbo loan?” One of the main advantages may already be clear to you: jumbo loans allow you to borrow more money than the standards set by Fannie Mae and Freddie Mac. So, if you want to buy a home that costs more than the maximum amount a conventional loan can cover in your area, you have an option.

Some additional benefits of jumbo loans are as follows: 

  • Possibility of getting better interest rates
  • Borrow the entire amount from a single loan, as opposed to splitting it into two separate loans
  • It provides more flexibility than conventional loans

Also, jumbo loans can be a more comprehensive financial tool because they allow you to select the mortgage that best suits your needs. If you want to invest in real estate, jumbo loans can play a significant role in your investment strategy.

Need a Hand With Midland Jumbo Loans?

Since jumbo mortgages are harder to qualify for, you should improve your credit score and save a more significant down payment or cash reserve before applying. But even if you are eligible, take a good look at your finances first and consider how the mortgage will affect your future. You would not want to make a 30-year commitment you can’t afford. 

Whatever mortgage option you decide to go for, the loan experts at Capital Home Mortgage are here to simplify and speed up the mortgage process for you. You can rely on them to give you honest, trustworthy advice on mortgage-related matters.

We’ve built a solid reputation for making homeownership possible for countless Texas residents and are keen on using our expertise to help you, too.

Contact us online or call (phone number) to speak to one of our mortgage experts at (432) 218-4828.

Why Midland 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

Midland 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

Midland Jumbo Home 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 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

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

Texas Mortgage Team

Dale Gremillion

Manager / Sr Loan Officer
NMLS 210325

Conor Hayhurst

Manager / Sr Loan Officer
NMLS 743506

Brad Rund

Director Native American Lending
Director Manufactured Housing

Midland Mortgage Company Reviews

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