Capital Home Mortgage Waco

Waco home purchase loans

Waco Home Purchase lender

Waco Home Purchase Loans

Purchasing a new home is always exciting, whether you’re buying your primary residence, 2nd home, or investment property. But before you can start house hunting, you must determine how you will pay for the property first. Like most Americans, you’ll probably need a home loan to finance the purchase.

Are you a first-time homebuyer? You may be pleasantly surprised to discover numerous home loan options. The mortgage specialists at Capital Home Mortgage will be happy to educate you about the mortgage process and help you find a home loan product that makes sense for you.

Your Home Loan Options in Waco, TX

Find out which mortgage option works for your financial needs and goals. Here are some of the most popular home loans among Texas homebuyers:

1. Conventional Loans – 

These are mortgages that the government does not guarantee. Instead, private lenders such as banks and credit unions fund them entirely. Conventional mortgages are among the most versatile options, as the loan proceeds can be used to purchase your primary or secondary residence. 

Conventional loan qualification guidelines frequently require borrowers to have high credit scores (620 or higher), low debt-to-income ratios, and a down payment of at least 20% to avoid paying private mortgage insurance. 

2. Jumbo Loans – 

Jumbo home loans are conventional loans that fall outside the FHFA limits. They are mainly used to purchase expansive or luxury homes well beyond the area’s conforming loan limits. But because jumbo loans require more money and are not guaranteed by government-sponsored entities, they are riskier for lenders.

To mitigate the risk, jumbo loans are often offered with much more stringent qualifications – good income, high credit score, and a DTI lower than 36% of your monthly income.

 3. Government-Insured Loans –

Government-sponsored entities guarantee mortgages. These loans usually have more relaxed qualification requirements than conventional ones, designed to make homeownership accessible to a broader range of first-time buyers. 

The following are the most well-known government-insured mortgages:

     – FHA Loans – The Federal Housing Administration insures FHA home loans. They offer home loans at a 3.5% down payment for borrowers with a credit score of 580 or higher. If your credit score is lower (500-579), you’ll need to increase your down payment to 10%.

     – VA Home Loans – VA loans are exclusive for active duty or retired members of the United States Armed Forces or a qualified family member of one. VA loans do not require a downpayment, are not subject to PMI and are guaranteed by the US Department of Veterans Affairs.

     – USDA Guaranteed Loan – USDA home loans, backed by the United States Department of Agriculture, assist low- to moderate-income homebuyers purchase homes in designated rural and suburban areas.

Home Loan for Fixer-Upper Homes

Consider an FHA 203(k) loan if you want to buy a fixer-upper. A 203(k) loan allows you to take out one loan to cover both the purchase of the home and the necessary improvements.

Apply For a Home Purchase Loan in Waco

Now that we have the basics covered, it’s time to do a little research and evaluate which options suit you best.

If you’re looking to purchase a home in Waco, a wise next step is to meet with a professional loan expert from Capital Home Mortgage to discuss your finances and home-buying goals. We’ll work with you every step and help you find a home loan perfect for your needs.

Why Waco 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

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 mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Waco Home Purchase Loans

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

Waco Fixed rate Mortgage Loans

All Fixed Rate Mortgage Loans are designed to have equal payments for the specified term. These loans offer predictability and are deemed to be less risky for borrowers. Fixed Rate Mortgage Loans are available with all mortgage products and are typically offered in 15 year and 30 year terms. However, Fixed Rate Mortgage Loans are also offer in 10 year, 20 year and 25 year terms although less common due to demand.

Waco Adjustable Rate Mortgage Loans

Adjustable Rate Mortgage Loans known as ARM’s are  available with most mortgage products although limited with FHA, VA and USDA. ARM’s are great fit for homebuyers who plan to sell or refinance their home between 1 and 10 years and are looking for the lowest possible payment.  ARM’s offers lower rates during times where fixed rates are higher. An adjustable rate mortgage is fixed for a specific time then adjusts on a predetermined time period and a predetermined amount based on a financial index and a fixed margin.

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

Waco Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Jordan Mowrey

SR Loan Officer
NMLS 210325

Waco Mortgage Company Reviews

Accessibility Toolbar