Capital Home Mortgage Texas

Texas Non Qualified Mortgages

Texas Non Qualified Mortgage Lender

Texas Non-Qualified Mortgage

It’s no secret that buying a home in Texas can be expensive. What’s more, qualifying for a traditional mortgage loan can be difficult for many Americans. Fortunately, with a non-qualified mortgage or Non-QM, you can purchase a home without going through the traditional lending process.

What Is a Non-Qualified Mortgage?

In a nutshell, a non-qualified mortgage is a type of home loan that doesn’t conform to the guidelines set forth by the Consumer Financial Protection Bureau (CFPB), which is why it is called a “non-conforming loan.” Lenders who offer Non-QMs are not held to the same standards as those who provide qualified mortgages (QMs). Non-qualified mortgages are sometimes referred to as “portfolio loans” since they’re usually kept on the lender’s books instead of sold on the secondary market. Because of this, the guidelines for Non-QMs may be more flexible than those for QMs.

Non-Qualified Mortgage Eligibility and Requirements

While Non-QMs have more relaxed requirements than QMs, there are still some guidelines you’ll need to meet to qualify.
  • FICO Score

The minimum credit score required in a Non-QM is a little higher than what’s required for FHA loans, which may only need 500. For Non-QMs, you must have a FICO credit score of at least 620 or higher.
  • Debt-to-Income Ratio (DTI)

If you have a high DTI ratio, it might be best to find a Non-QM, as other types of loans require a lower DTI ratio, ranging from 36% to 43% only.
  • Employment History

For a Non-QM, you’ll need to have a steady employment history. This loan requires proof that you have been steadily employed.
  • Down Payment

You can get this mortgage with a 10% to 20% purchase price down payment, which is higher than what’s required for government-backed loans like FHA and VA.
  • Proof of Income

Lenders will require documents and information such as tax returns, W-2s, and 1099 to show your income to qualify for a QM. Meanwhile, Non-QMs typically won’t need these documents. Instead, the lender may ask for bank statements and other additional documents to verify your income.

Non-QM Benefits

Several benefits come with getting a Non-QM. One of the main advantages is that you can still qualify even if you don’t have a perfect credit score. While it is preferred to score at least 620, borrowers with a lower score may still qualify. Another perk of a Non-QM is that you’re not required to complete as much documentation and paperwork as you would with a QM. This can be helpful if you’re self-employed or have other sources of income that don’t fit into the traditional mold. Lastly, Non-QMs offer flexible terms. If you’re looking for a loan with a more extended repayment period, then Non-QMs could be an excellent option. 

Get a Non-Qualified Mortgage in Texas With Capital Home Mortgage

Applying for a non-qualified mortgage in Texas can be a great way to get the home you want without jumping through all the hoops that come with qualifying for a traditional mortgage. At Capital Home Mortgage, we’re proud to offer some of the best non-qualified mortgages available in the state. We’re dedicated to making the process as easy and stress-free as possible for our clients. If you’re curious to learn more about our non-qualified mortgages or applying for one, contact us now at 800-960-4565.
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TExas 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

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

Texas Mortgage Company Reviews

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