Corpus Christi Conventional Home Loans

A Conventional loan is one of the most common mortgage products you’ll encounter when searching for a home loan. This type of loan is a staple in the mortgage market because it does not have government backing, unlike FHA and VA loans. 

If you want a Conventional home loan in Corpus Christi, you’re in the right place. Capital Home Mortgage is a leading Corpus Christi lender offering a wide selection of home loan programs. Our loan offers are competitive because we finance all approved mortgages as a direct mortgage lender. 

Let’s go over some of the salient features of Conventional loans, so you know what to expect when you begin your application. 

Conventional Loan Requirements

Lenders are stricter regarding eligibility for Conventional loans since there is no government backing. This makes such loans a bit riskier. 

However, that doesn’t mean borrowers will have difficulty getting approval. Even if requirements are rigid, the quality of submitted requirements will often be the deciding factor in the vetting process.

Firstly, Conventional loans require a credit score of at least 620 but not a guarantee of approval. A higher score is preferred for a higher chance of approval. If your score is below 620, we recommend checking out FHA loans instead. 

Aside from credit scores, you must have enough money for at least a 20% down payment. Otherwise, you’ll have to pay mortgage insurance.

For proof of income and employment, you need to show the following documents at least:

• Recent 30-day paycheck stubs;
• Previous two years’ W-2 statements, 1099s, etc.;
• Recent two months’ statement of asset accounts, including checking, savings, retirement, and investment accounts.

Work with our loan experts at Capital Home Mortgage to determine the final list of requirements.

Conventional Loan Limits for 2022

Speak with our Corpus Christi Home Loan Experts to determine the loan limit of the county where you intend to buy a house.

Apply for a Conventional Loan in Corpus Christi

Getting a Conventional loan can be challenging because of the stringent requirements. Capital Home Mortgage is here to provide any assistance you may need. We are committed to making our loan processes convenient and straightforward. 

As a direct mortgage lender, we make all the decisions regarding your application, which allows us to offer competitive interest rates and low processing fees.

Get a home loan in Corpus Christi with Capital Home Mortgage today. Give us a call at (361) 724-3166 to get the process started.