Are you thinking of buying a home?
If so, the first step is to apply for a home loan.
Home loans help people purchase homes they wouldn’t otherwise be able to afford.
But understanding mortgage options and navigating the application process can seem overwhelming – especially if it’s your first time applying for a loan.
As a mortgage lender in Corpus Christi, we’ll take you through the basics of the home loan process step-by-step, from knowing what you can afford to signing on the dotted line without any surprises. So let’s get started!
Get a Free Mortgage Quote
Did you know that getting pre-approved for a mortgage can help make the process much more manageable?
With pre-approval, you know exactly what your budget looks like and have the peace of mind that comes with knowing all loan details are taken care of, leaving you to focus on finding the perfect house for you and your family.
Remember that it’s important to ask as many questions as you need to so that you can understand everything.
So why wait? Get your pre-approval today and start house hunting with confidence!
About the City of Corpus Christi, TX
Corpus Christi, TX is a city on the southern tip of Texas and is the largest city in the Corpus Christi metropolitan area. The city was founded in 1519 and is a part of Nueces County. The city’s name is derived from the Spanish word “corpus christi” meaning “body of Christ”. Corpus Christi is known as the “Mother of the Deep Sea Fishermen” because of its thriving fishing industry.
Corpus Christi is one of the most important ports on the Gulf Coast and is one of the busiest ports in the United States. The Port of Corpus Christi is the second largest port in Texas and handles over 8 million tons of cargo each year. The port is an important hub for the oil and gas industry. Many large companies including Shell Oil, Chevron, and ConocoPhillips have oil rigs and platforms off the coast of Corpus Christi.
Buying a Home in Corpus Christi, TX
Are you considering buying a home in Corpus Christi, TX?
Look no further!
The sunny city on the Gulf of Mexico offers blue-sky days and sparkling coastal views that will make your dreams come true. With plenty of single-family homes and condos to choose from, you’ll find a place that fits your lifestyle and budget.
There are a number of questions you may want answered, including:
- Is Corpus Christi a cheap place to live?
- Is Corpus Christi a nice area?
- What region is Corpus Christi in?
- What is the best way to get the lowest mortgage rate in Corpus Christi, TX?
Owning a home is one of life’s great achievements. It brings a sense of pride and stability, as well as a place to call your own.
Homeowners also get financial benefits – when you own instead of rent, you can deduct mortgage interest from your taxes, build equity in the property, and potentially earn money from renting it out should you decide to move. Plus, owning gives you more freedom; if something needs to be repaired or remodeled, you can do it on your own time and tailor the work to your taste.
The city also offers excellent schools, ample entertainment options, and a plethora of job opportunities. Start living the coastal life you’ve always dreamed of—buy a home in Corpus Christi today!
Whether you’re buying now or in the future, our mortgage experts can provide you with the guidance you need to help you reach your dream!
What Are Mortgage Lenders in Corpus Christi, TX Looking For?
- Existing Debt
- Credit History
- Job History
- History of Payment
What Documents Do I Need To Get A Mortgage in Corpus Christi, TX?
The documents required to get a mortgage will vary depending on your lender and the type of loan you are applying for. Generally, the documents you will need include:
- Identification (ID) such as a driver’s license or passport;
- Proof of income and employment such as recent pay stubs or tax returns;
- Bank statements to show assets and other financial obligations;
- Credit report and score;
- Property appraisal if purchasing a home;
- Homeowners insurance policy if applicable;
- Depending on the lender and the loan type, additional documents may be required.
How to Get a Mortgage in Corpus Christi, TX?
There are various things you may do to improve your chances of getting a mortgage approval:
- Improve your credit score: A good credit score can make it easier to obtain approved for a mortgage as well as a lower interest rate and costs. Paying your bills on time, keeping your credit card balances low, and avoiding applying for new credit can all help you boost your credit score.
- Save for a down payment: A greater down payment can help you get accepted for a mortgage and get a better interest rate and costs. Save at least 20% of the home’s purchasing price for a down payment.
- Provide all required documentation: When applying for a mortgage, make sure you have all of the essential papers, such as evidence of income, assets, and credit score. This will assist ensure that the application process runs smoothly and that you supply the lender with all of the information they require to make a decision.
Types of Loans Available in Corpus Christi, TX
Choosing the right loan when you buy a home can be difficult, and this is why we’re here to help you fully understand the difference of each type before choosing one.
Overall, the right home loan for your needs will depend on your individual circumstances and financial goals. By carefully considering your budget, financial goals, the type of loan, interest rate and fees, and the lender, you can find a loan that meets your needs and fits your budget.
A FHA loan is a government-backed mortgage loan that is based on the Housing and Urban Development Act. It is possible to qualify for an FHA loan even if you have debt or a low credit score. You might even be eligible to receive an FHA loan if you have a bankruptcy or other financial issues on your record.
Learn more about FHA loans in Corpus Christi, TX.
The VA loan program allows qualified veterans, service members, and surviving spouses to qualify for a low-cost mortgage, even with imperfect credit, when buying or refinancing a home.
Learn more about VA loans in Corpus Christi, TX.
A USDA home loan, also known as a USDA Rural Development Guaranteed Housing Loan, is a government-backed loan program that is designed to help low and moderate-income individuals and families buy homes in rural areas.
Learn more about USDA loans in Corpus Christi, TX.
A jumbo loan is a type of mortgage that exceeds the conforming loan limit set by government-sponsored enterprises like Fannie Mae and Freddie Mac. It is used to finance higher-priced real estate purchases, such as luxury homes or properties in high-cost areas. Jumbo loans typically require higher down payments and have stricter qualifying requirements than conventional mortgages, making them less accessible for many people.
However, they can help borrowers access financing for more expensive properties that may not be able to obtain a conventional loan.
Learn more about Jumbo loans in Corpus Christi, TX.
30 Yr Fixed Mortgage
In a 30-year fixed-rate home loan, the interest rate remains the same throughout the life of the loan, so the mortgage will be paid off in 30 years.
In the context of mortgages, 30-year fixed rates either refer to conventional loans or to FHA, USDA, and VA loans that are backed by the government.
Learn more about 30-Year Fixed Rate mortgages in Corpus Christi, TX.
15 Yr Fixed Mortgage
The main benefit of a 15-year mortgage is that it allows you to pay off your home loan faster than a traditional 30-year mortgage. This can save you a significant amount of money in interest over the life of the loan.
Learn more about 15-Year Fixed Rate mortgages in Corpus Christi, TX.
Adjustable Rate Mortgage
An adjustable rate mortgage (ARM) may be a good option for you if you want a lower initial interest rate and monthly payment. The initial interest rate on an ARM is typically lower than that of a fixed-rate mortgage, which can help you to afford a more expensive home or save money on your monthly mortgage payments. Additionally, an ARM may be a good option if you plan to sell your home or refinance your mortgage within a few years, as the lower initial interest rate can provide savings over the short term. Finally, an ARM can be a good option if you are comfortable with the risk that the interest rate and monthly payment may change in the future.
Learn more about Adjustable Rate mortgages in Corpus Christi, TX.
Frequently Asked Questions
How do I contact your mortgage company in Corpus Christi, TX?
The best way to contact us is by calling us directly to speak with one of our licensed mortgage originators to learn more about our products and services.
You can call us at 888-670-7550.
Where is your Corpus Christi, TX mortgage office located?
We service the area near the Selena Memorial Statue in downtown Corpus Christi, however we are licensed to lend in all of Texas.
How much money do you need to get approved for a mortgage?
If you’re looking to buy a home, you’ll typically need to have 3% of the purchase price saved up as a down payment. So, if you’re buying a $200,000 property, you’ll need to come up with around $6,000. Don’t forget to include closing costs too – these usually amount to 2-5% of the home’s value.
What’s the difference between being Pre-Qualified and Pre-Approved?
Pre-Qualified is just a quick way to see what you “could” get, whereas to get Pre-Approved is more concrete since the lender will verify income, assets, etc.
What increases my chances of getting a mortgage?
All you need is decent credit and a little bit of money saved up. That’s all.