Capital Home Mortgage Waco
Waco FHA home loans
Waco FHA Mortgage Lender
FHA Loans In Waco
The Federal Housing Administration has insured affordable and eligibility-flexible mortgages across the country for decades. Mortgages guaranteed by the FHA have been the go-to option for first-time and repeat homebuyers when conventional loans are unavailable. It’s possible to qualify and get approved for an FHA-backed mortgage even if you were denied a conventional loan.
Top Reasons To Get an FHA Loan in Waco, TX
FHA loans are notoriously simple to qualify for and have incredibly competitive interest rates. They’re not perfect, but they are often a first-time homebuyer’s best shot at homeownership. Let’s find out why.
Low Credit and Income Qualifications
The Federal Housing Administration guarantees FHA loans, which is why lenders can offer FHA loan products with less demanding requirements than most mortgages. You may qualify for an FHA loan with a credit score as low as 500.
Low Down Payment Requirement
The FHA loan lets you buy a home with little down payment. While the amount of down payment required can vary, borrowers with a credit score of at least 580 are eligible for the 3.5% down payment rate. If you have a lower credit score, somewhere in the 500-579 range, you’ll have to make a down payment of at least 10%.
Wide Range of Mortgage Products
The FHA offers numerous loan types to accommodate borrowers in virtually any circumstance. The Federal Housing Administration has insured many home loans, from standard, single-family home loans to 203k loans, for purchasing and renovating fixer-upper homes. No matter your budget or the type of home you wish to finance, there’s bound to be an FHA loan to satisfy your needs and requirements.
Plenty of Assistance and Grant Programs
FHA loans also allow down payments and closing cost assistance grants to reduce the out-of-pocket expense of a new mortgage. These grants are typically made available to first-time homebuyers and cover a portion of the home’s purchase price. Sometimes, these grants are non-repayable; you will never have to pay them back.
Visit your local city Housing office to find down payment assistance programs available in your area.
Easy to Refinance with FHA Streamline
If you already have an FHA mortgage, you may be able to save time and money with the FHA Streamline Refinance program. Use it to lower your monthly payment by refinancing to a lower rate or extending the term of your loan. No credit check or appraisal is needed.
It Can Be Used to Purchase Fixer-Upper Homes
The FHA 203(k) loan allows you to purchase or refinance a home that needs repairs, then combine the real estate renovation costs into one mortgage. With a cash-out refinance, you refinance your mortgage for more than you owe and get the difference in cash, which you can use to fund your renovation, among other things.
Is an FHA Loan Right For You?
Whether you’re a first-time homebuyer with a small down payment, a senior looking to draw income for your home, or newlyweds looking to purchase and renovate a charming fixer-upper, there’s an FHA loan for you!
FHA loans are designed to accommodate as many different homebuyers as possible. Regardless of your circumstances, if you are interested in purchasing or refinancing a home in Waco, the home loan experts at Capital Home Mortgage can help you determine if the FHA loan is a good fit.
Call us at (254) 213-7343 for inquiries and information about our FHA home loan products.
Why Waco 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
Waco 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
Waco FHA Home Purchase Loans
- Simple Qualifying
- Smaller Down Payment
- Seller Paid Closing Costs
- Flexible Underwriting
- Higher Debt to Income Ratios Allowed
- Lower Credit Scores Allowed
- Manufactured Housing OK
Waco FHA Refinance Home Loans
FHA offers a streamline refinances that simply reduces the interest rate and lowers the payment or shortens the term of the loan. This rate and term option can be fully documented loans, or can be reduced documentation. The other FHA option is a cash-out refinance allowing homeowners the ability to access the equity in the property.
FHA Standard Refinance
- Appraisal Required
- 97.75% Max Loan to Value
- Closing Costs Can Be Rolled In
- 80% Max Loan to for Cash-out
- Cash-out Option Available
- County Loan Limits Apply
FHA Streamline Refinance
- FHA to FHA
- No Income Qualification
- No Appraisal Required
- Closing Costs Cannot Be Rolled In
- No Lates on Mortgage in Last Year
- Payment Must Drop on Fixed Rates
Waco FHA Renovation Home Loans
FHA offers both a Steamline and Full Rehabilitation Loans. This is a great option for 1st time homebuyers looking to purchase a home that needs a little TLC.
- Purchase & Refinance Options
- Primary Residences Only
- Single, Multi Family & Condo’s
- As-Is Improved Renovated Value
- 203K Streamline
- Less < 35K, Cosmetic Repairs Only
- 203K Full Rehab
- Greater > 35K, No Restrictions
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