Capital Home Mortgage Corpus Christi

Corpus Christi Non Qualified Mortgages

Corpus Christi Non Qualified Mortgage Lender

Corpus Christi Non-Qualified Mortgage

If you’re looking to buy a home in Corpus Christi but are worried that you can’t qualify for a traditional mortgage, a non-qualified mortgage may be worth considering. Qualifying for a mortgage can be difficult, especially with all those stringent requirements regarding credit scores, down payments, debt-to-income ratios, and ability-to-repay rule

The excellent news is that borrowers who cannot fit the qualifying mortgage criteria can still get a loan through a non-qualified mortgage with Capital Home Mortgage. It’s essential to understand how this type of loan works so you can decide if it is a worthwhile financing option for you.

What is a Non-QM Loan?

A non-qualified mortgage (non-QM) is an alternative mortgage for borrowers who cannot meet standard requirements at the time of application. 

A NonQM loan still complies with the standard requirements. The borrower’s qualifications differ from what is required. Hence, lenders will try to justify if the borrower’s qualifications are suitable alternatives to the standard requirements.

Qualification Requirements for Non-QM Loans

Lenders are generally more flexible in accepting different kinds of requirement proofs from borrowers. Those who aren’t satisfied with the presented documents can still ask for more evidence to satisfy the standard requirements. Let’s discuss below the non-QM loan requirements.

  • Income

Qualifying mortgages often ask for pay stubs, W-2 statements, and tax returns as proof of income. For example, some self-employed borrowers or small businesses don’t have audited financial statements to show as proof of business income. Some borrowers also have income without proper documentation, such as babysitting, house cleaner, rideshare driver, etc. 

Non-QM loans fit these kinds of borrowers. However, the lender’s underwriters will still perform a critical review of these requirements. They can either deny it or ask you to provide more evidence of income.

  • Credit Score and Down Payment

The credit score requirement for non-QM loans varies from one investor to another. Ideally, you must have at least 620, just like in qualifying mortgages. But if it’s lower than 620, lenders can accept a lower score in exchange for higher interest rates to compensate for the risk. However, you can offset the adverse effect of low credit scores with a higher down payment. Giving a large down payment reduces the risk for lenders, and they might reconsider your low credit score. Hence, you should find a lender willing to work with you to find the best deal based on your credit report.

If you have a low down payment, you must be willing to pay private mortgage insurance. That’s why saving enough money for a down payment to skip mortgage insurance is highly recommended.

Get a Non-QM Loan in Corpus Christi

Capital Home Mortgage is a direct mortgage lender providing a comprehensive lineup of home loan programs in Corpus Christi. From prequalification to funding, we handle every aspect of the loan process and ensure that you have all the professional assistance you need at every stage. 

That dream home may be yours even if you can’t secure traditional home loans right now. Call us at (361) 724-3166 to learn more about obtaining a non-qualified mortgage in Corpus Christi. 

Why Corpus Christi 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 Payment

Corpus Christi 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
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

Corpus Christi Texas Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Corpus Christi Mortgage Company Reviews

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