Capital Home Mortgage Odessa

Odessa Jumbo Home Loans

Odessa Jumbo Mortgage Lender

Odessa Jumbo Home Loans

Identifying the type of mortgage that best meets your needs is one of the most crucial aspects of house hunting. Sometimes, you may need a jumbo loan to purchase the home of your dreams in Odessa or one of Texas’s costlier regions.

Capital Home Mortgage is a full-service mortgage lender that provides a variety of Odessa, Texas home loans, including jumbo loans. Contact us for details regarding our mortgage products.

What are Jumbo Loans?

The Federal Housing Finance Agency determines conforming limits annually, outlining the maximum loan amount government-sponsored enterprises (Fannie Mae and Freddie Mac) are willing to purchase on the secondary market. When the loan amount exceeds Fannie Mae and Freddie Mac’s limit, the loan is referred to as a jumbo mortgage. Any mortgage that exceeds these limits is a jumbo loan, also known as a non-conforming loan

These limits may vary by region and are subject to annual adjustments based on the national median home price. The conforming loan limit for all Texas counties in 2022 is $647,200. However, note that this is not a limit on the home purchase price but the loan amount.

Will I Qualify for a Jumbo Loan?

The qualification process for a jumbo loan is typically more stringent than that for a conforming loan. It would help if you had a consistent income, sizable savings, and a low debt load to get approved for a jumbo loan. Credit score and debt-to-income ratio requirements may also vary slightly between lenders. 

As with any home loan, lenders look closely at your income and assets to ensure you can afford the monthly mortgage payments. Also, ensure you can handle the additional costs, such as taxes, maintenance, and upkeep. There is also the matter of insurance. Since jumbo loans are often used to buy more expensive homes, ensure you have enough insurance in case of a significant disaster or total loss.

What are the Benefits of a Jumbo Loan?

A jumbo loan also has jumbo advantages for qualified borrowers, which include:

  • Access to more considerable funds for purchasing higher-priced homes or even luxury properties.
  • You can pick the best plan for your financial situation at both fixed and variable rates.
  • Funds can be used for purchasing a second home or investment property.
  • Non-occupying co-borrowers are allowed. A family member or friend doesn’t have to live in the same house as you to co-sign the loan.
  • All or part of the interest you pay is tax deductible. Consult a tax specialist for specifics.

Is a Jumbo Loan For Me?

If you want to finance more than $647,200 and have a high credit score, low debt-to-income (DTI) ratio, and a substantial down payment, a jumbo loan may be a good option. 

Contrary to popular belief, jumbo loans are not always reserved for high-end properties. If you plan on buying a home in a high-cost area, where properties priced below the conforming loan limits are scarce, a jumbo loan may be your best option.

Are You Ready to Take the First Step toward Your Dream Home?

One of the main selling points of jumbo mortgages is that they make it possible for borrowers to finance the purchase of properties that would otherwise be out of reach.

If you are considering a high-priced property in Odessa, contact Capital Home Mortgage now at (432) 218-4828! Our home loan experts can talk to you about the process and help you decide if a jumbo loan is the best choice for you.

No matter how big your home ownership dreams are, we are always ready to help you reach them. Call us today!

Why Odessa HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Control of the Loan from Application to Funding

Great Rates & Low Fees

Direct Lender Providing Competitive Rates and Low Fees

Exceptional Customer Service

7  Day a Week Support Application to Final Mortgage Payment

Odessa 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

Odessa 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 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

Odessa Mortgage Team

Conor Hayhurst

Manager
NMLS 743506

Damon Embler

Sr Loan Officer
NMLS 882260

chris erwin

Sr Loan Officer
NMLS 914064

Dale Gremillion

Manager
NMLS 210325

Odessa Mortgage Company Reviews

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