Find Flexibility with a Conventional Loan
Low down payments and quick closing times don’t have to be a stretch. Our Conventional home loan program poses fewer hurdles than some other mortgages, so you can qualify and close in record time. Featuring low rates and increasingly flexible guidelines, our Conventional loans go a long way.
Our Conventional loan programs…
- Allow for down payments as low as 3% *
- Offer low interest rates and fees
- Provide options for home purchases and refinances
* Private mortgage insurance (PMI) is not required for any conventional loan with a down payment of at least 20%.
Conventional Loans in Corpus Christi
Could a conventional loan suit your financial goals? Many home buyers in Corpus Christi, Texas, find that these mortgages are the best choice – and working with PRMI, a trusted mortgage loan lender with extensive knowledge of the local lending landscape, is an easy way to identify your ideal financing solution.
Conventional mortgages come in all sorts of configurations, with a variety of term options, and both adjustable- and fixed-rate mortgages are available. Also, unlike government-backed lending programs, this form of financing isn’t just for primary residences. Qualified borrowers can use a conventional mortgage to purchase an investment property, multi-unit dwelling or a second southern Texas home.
Also, with conventional home loans, loan processing takes less time. Mortgages backed by the VA, FHA and USDA require more mortgage company paperwork, and given the high number of applications, delays are quite common. The Corpus Christi housing market is competitive, and home sellers often receive several offers – and having the ability to get to closing faster can give a home buyer an advantage.
Private mortgage insurance is only required, but only until the borrower reaches 20 percent in home equity, either via the down payment or over time. Those who qualify aren’t limited as far as how much they can borrow, and while the eligibility standards are rather strict, qualifying is easier than many people think.
A conventional mortgage might be the right choice for you, but why not get an expert’s take on the situation? The mortgage lender team at PRMI in Corpus Christi, Texas, can help you explore conventional loans and all of your other home financing options – contact us today!